Create a marketing plan efficiently

By Jordan Rosenberg | August 8, 2013 | Last updated on August 8, 2013
2 min read

Most advisors want to gain more prospects, but few enjoy figuring out how. Here’s how to create a focused marketing plan in less than 90 minutes.

1. Vision

Take an 8½ x 11-inch piece of paper and turn it landscape (sideways). At the top (in the middle), write the total marketing dollars you’ll spend over the next twelve months (usually 10% of gross revenues, so if you’re planning on making $200,000 for the year, write $20,000 at the top of your page).

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2. Divide and conquer

Divide your page into three equal columns. Label the first CLIENTS, the second CENTRES OF INFLUENCE and the third PROSPECTS.

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If you have a mature practice, you will spend 80% to 90% of your total marketing budget with Clients, a bit with Centres of Influence, and a small portion on Prospecting. If you don’t have a lot of clients now, the reverse will be true.

3. List ideas

Under each column, list ideas that will help generate revenue. Under the Client column, for instance, you’d list tactics like luncheons, webinars, seminars, golf days, Christmas parties, gifts, etc. Then, beside each of these tactics, put how much you’ll spend on them each year.

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For instance, if you will golf 10 summer days with two clients each, that may cost $2,000. Then, beside the $2,000 figure, estimate how much money you will get back for that expenditure to find your Return on Investment. Do the same ROI estimates for all tactics listed.

4. Pick the best ones

Shorten your list in each column to the tactics you deem most worthwhile. Once you have done this, make sure when you add up your total marketing expenditure for all tactics that it equals your total budget written at the top of the page.

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Jordan Rosenberg, B.A., is a coach with The Personal Coach in Toronto.

Jordan Rosenberg