Advisors market to two distinct audiences: clients and prospects. For the first audience, you want to retain, grow and leverage existing relationships; for the second, you want to develop new business. So you’ll need two sets of tactics.

With existing clients

Advisors often think marketing focuses solely on new clients. Yet the majority of your business is based upon existing clients, so you’ll need to devote marketing resources to them as well.

Focus on relationship building, cross-selling (are clients utilizing all services that pertain to them?), getting client feedback, and providing outstanding service (are your current clients treated as well as prospects would be?). Also, happy clients will want to introduce you to others.

Use your Client Relationship Management system to keep track of when you have connected with clients. Some advisors send monthly, quarterly or annual letters to clients and prospects discussing relevant industry information. CRM systems can keep those on schedule.

Read: Choosing the right CRM

Perhaps you have a prospect who showed some interest a couple months ago, but you haven’t heard from him since. CRM systems will tell you it’s time to follow up.

For prospects

Start by defining your ideal clients so you can focus your marketing efforts on people like them. Then, clearly articulate who you are, how you help people and what differentiates you. Practice your introduction talk (elevator speech) so it sounds natural when you meet potential prospect.

Once you perfect your message, share it with centres of influence through networking, speaking, trade associations, social media and your community.

Branding is also key in attracting the right prospects. It’s helpful to have a slogan, a logo, a descriptor and a website. These important touch points help you connect with the right people.

Read: Shaping your brand

For both plans

Assign tasks to team members based on their strengths. Then, make sure everyone knows which tasks they’re responsible for, and provide deadlines.

Not every type of marketing tactic will make sense for your business. Focus on tactics that will reach your audience. For instance, if you’re focused on dentists, advertise in a trade magazine aimed specifically at that profession.

Read: Marketing to mature clients

Review your marketing plan on a monthly or quarterly basis with your team and coach. Keep track of the status of your tasks as well as your marketing budget.

Kim Poulin, BA, CLU, CH.F.C. is a coach at The Personal Coach.