For a long time, the financial services industry as a whole has been sending mixed messages to would-be clients about what advice actually is. It's often a combination of going to see an adviser, buying a specific product, getting the best superannuation return...the list goes on.
It’s easy to understand how that the average client doesn’t really know what their adviser does. Most would suggest that the basis of all good advice is the right strategy, the right action steps and accountability, a safe place to ask questions and someone to trust and guide them through challenging times. But many clients don't really understand that - because you know, we've sent mixed messages.
To compound the problem, the industry is made up of many different players, all with competing priorities. For a long time, financial advisers have relied on some of these players (read: product providers) to play the role of educator to potential clients because they had the strongest voice. However, we’ve had mixed results with that approach and it's fair to say that most clients still think their adviser just ‘looks after my super’.
Maybe it’s time to change the messaging and who’s sending it.
At the grassroots level, there is a general lack of knowledge around financial literacy amongst Australians. Ask a family member or friend what a financial adviser does and you'll probably get a blank stare...or the standard 'he/she looks after my super'.
So, what if advisers could educate more of their clients about what they do and in turn, educate others in the community?
They might even make it easier for clients or referral partners to send more clients their way. But, it’s something advisers haven’t really done well. Or even done at all in most cases. That's right – advisers could actually tell people what they do and how they do it, via marketing.
*insert stunned face*
Marketing has never been top of the priority list for many advisers, for a variety of reasons. But things are changing and the need to show value to clients has become more important. Plus, it’s a simple way to generate leads. But what if you could also use it to tell the story of what advice is and the many facets of a strategy?
Social media is just one aspect of marketing and is a simple way to get in front of your clients to stay relevant and remind them about what you do. It’s also an easy way for your clients to refer potential clients just like them. When you create content that educates and engages your ideal audience, you can start attracting the right prospects AND educate your existing clients.
Don’t have time to create your own? Talk to us, we have you sorted.