Three ways to add power to your financial marketing programs
Planning and implementing an efficient and effective financial marketing program can be a daunting task. When you are spending any amount of your firm’s money for marketing, advertising or sales, the responsibility can be a bit overwhelming. Because a financial marketing program is an investment in the growth of your firm, it will take time to yield results. However, in this blog, I will show you three ways to see a quicker return on your efforts and money.
Leveraging your CLTV in a financial marketing program
Customer Lifetime Total Value (CLTV) is a way to predict the net profit of the entire future relationship with a customer. For example, studies show that B2B companies have a CLTV of $20,000 to over $200,000 from one customer. It is important to realize, if your firm engages business clients, you are conducting B2B marketing. Based on this statistic, a firm can afford a higher cost per sale and still generate a significant return on investment (ROI).
Surprisingly, even a well-conceived financial marketing program can require trial and error to find the best approach. From the launch of the campaign, results need to be assessed, and tactics tweaked. Remember, it is a long journey of learning and adjustment. When you consider the CLTV for your firm, you can be more comfortable exploring other options to meet your marketing goals.
Promote your solution in a financial marketing program
The most common issue faced in financial marketing is communicating a meaningful message to potential clients. In fact, many firms fail to put across messages clearly. Consequently, it gets lost in unnecessary jargon or simply stating only what services you offer. A key point to remember that prospects come to you seeking a solution for their accounting or financial problems. As a result, the prime focus of your marketing messaging should be able to present your solutions to challenges potential clients may face. This technique will help improve your lead generation and conversion rates. If you follow a target marketing strategy, it will make your financial marketing program even stronger.
Focus on your target audience for a financial marketing program
Often, financial firms believe that anyone that needs an accountant is a potential client. While this may be true, it is not wise. Marketing and advertising are costly, and to make the most of it you need to target markets where you have the best chance to find clients.
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About the Author
Paul Kowalski (or Pappy as he is called around the office) spent over two decades working at other agencies before opening Conach Marketing Group in 2008. The early part of his career was working with Fortune 500 clients at different agencies. However, working with smaller clients was his preference. This choice was because of the impact on a client’s business growth and forming closer, personal relationships.
About the Conach
When he was creating Conach, his goal was to bring those Fortune 500 strategies along with years of B2B marketing experience to small business marketing clients. As a result of focusing on business to business marketing, Conach specializes in construction marketing, financial marketing, and industrial marketing. Even though we are in Mid-Michigan, Conach provides marketing services to clients across the country.For more information visit conachmarketing.com or contact us or call 989.401.3202