Table of Content
- Our Present Business Situation
- The Benefits Our Clients Stand to Gain When They Patronize Our Financial Advisor Firm
- 10 Possible Questions We Intend Asking Our Customers During Our Market Survey
- Our Retentions Strategies (Ways to Improve Our Customer Experience)
- The Ways We Intend to Advertise/Promote Our Financial Advisor Firm without Using the Internet
- The Ways We Intend to Advertise/Promote Our Financial Advisor Firm on the Internet
- The Possible Ways We Intend Offering Incentives to Our Customers/Clients (Bonus, Discounts, etc.)
- After Sales Service or Customer Support
- The Creative Marketing Ideas Specific to Our Financial Advisor Services
Our Present Business Situation
The name of our financial advisor firm is Davidson & MacArthur® Financial Advisor Firm LLP and the business is legally incorporated under the law of the United States of America and we have all the necessary business licenses and permits to operate in the United States of America.
Our office is located at 15880 Lake Candlewood Drive, Fort Myers, FL 33908. We have successfully equipped our office and we are set to run a standard financial advisor firm. We have hired the required number of employees needed to run a standard financial advisor firm and we have experienced hands that will help us achieve our goals of becoming one of the leading financial advisor firms in the United States of America.
As things stand, we are set to open our door for full operations to the general public, but we will officially launch the business on the 4th day of July 2022. We will organize a dinner on the day of the official launch.
A Sample Financial Advisor Marketing Plan Template
Our Marketing Goals
We are going to offer varieties of services within the scope of the financial advisor industry in the United States of America. Our intention of starting a financial advisor firm is to make profits from the industry and we will do all that is permitted by the law in the US to achieve our aim and ambition.
Our marketing goals are guided by our company’s vision and it is to provide our clients with skilled financial advice in a timely and efficient manner and of course to help our clients make decisions that revolve around their finances, investment, tax, debt, and insurance concerns.
We strive to handle each matter with accountability and responsiveness as if we were representing ourselves. We will focus our attention on the financial aspects of our client’s business so that our clients can focus their attention on the success of their business.
We have been able to examine the financial advisor market, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to financial advisor startups in California.
Here are our marketing goals:
- To generate a minimum revenue of $500,000 (five hundred thousand US dollars) within the first 12 months of operation
- To generate a minimum revenue of $1,000,000 (one million US dollars) in our second fiscal year of operation
- To generate a minimum revenue of $2,500,000 (two million five hundred thousand US dollars) in our third fiscal year of operation
We aim to achieve the followings from our marketing efforts:
- To build a financial advisor firm that will compete favorably with the leading financial advisor firms in the United States of America and to be listed among the top 15 financial advisor firms in the United States of America. (Within 10 years of operation)
- We aim to achieve a sustainable growth at the rate of 20% annual revenue generation
- We want to build a self – sustaining financial advisor firm that will contribute to the growth of the United States of America.
Our Marketing Budget
No doubt, if we intend to generate the income we have set as our target within the first three years of operating our financial advisor firm, we must be willing to invest in marketing our business. In view of that, we have set aside a marketing budget of $50,000 (Fifty Thousand US Dollars) for the first year of operating the business.
Subsequently, we will budget between 5 percent and 12. 5 percent of our annual income towards marketing, branding, and promoting our financial advisor firm/business. In the future, if there is any need to increase the budget in order to explore other means of generating more income, we will gladly do that as directed by our business developer/marketing consultant.
Our Target Market
Although Davidson & MacArthur® Financial Advisor Firm LLP will initially serve small to medium sized business, from new ventures to well established businesses, but that does not in any way stop us from growing to be able to compete with the leading financial advisor firms in the United States of America. We hope to someday merge or acquire other financial advisor firms and expand our financial advisor services beyond the shores of the United States of America.
As a full service business financial advisor firm, Davidson & MacArthur® Financial Advisor Firm LLP have a variety of practice areas to help startups grow. While we work with a variety of organizations and industries, Davidson & MacArthur® Financial Advisor Firm LLP will also specialize in working with accredited investors, startups, real estate investors, and contractors, manufacturers and distributors, banks, lending, and financial institutions.
Our target market cuts across people of different classes and people from all walks of life, local and international organizations as well. We are coming into the industry with a business concept that will enable us to work with the highly placed companies as well as smaller businesses. In other words, our target market is the whole of the United States of America and subsequently other parts of the world.
Below is a list of the people and organizations that we have specifically designed our products and services for;
- Businesses and Entrepreneurs
- Blue Chips Companies
- Corporate Counsel
- Manufacturers and Distributors
- Real Estate Owners, Developers, and Contractors
- Research and Development Companies
The Benefits Our Clients Stand to Gain When They Patronize Our Financial Advisor Firm
Davidson & MacArthur® Financial Advisor Firm LLP is established with the aim of maximizing profits in the financial advisor industry and we are going to ensure that we do all it takes to attract clients on a regular basis which is why we have been able to work on business policies that will benefit our clients.
As a matter of fact, during our feasibility studies and market surveys, we discovered that one of the ways of growing our financial advisor business is to continue to meet and even surpass the expectations of our clients whenever they hire our services.
These are the benefits that a client stands to gain when they patronize our financial advisor services:
- We will offer special discounted rates to disadvantaged individuals, nonprofits, cooperatives, and small social enterprises.
- As against hourly billings for financial advisor services which is the practice in the financial advisor firm industry, we will charge our clients a flat fee for many basic services such as helping our clients to determine their financial goals and help them create a financial plan that they can follow to reach them.
- We are aware that there are some clients that would need regular access to finance and investment related advice and assistance, we will offer flat rate general financial advisor services that will be tailored to take care of such clients’ needs.
- Professionalism and excellent customer service delivery of the highest order from our highly trained staff members.
Our Unique Selling Point; What Makes Our Financial Advisor Firm Superior to Our Competitions
Our unique selling point as a financial advisor firm lies in the power of our team; our workforce. We have a team that can go all the way to give our clients value for their money. We are well-positioned and we know we will attract loads of clients from the first day we open our doors for business.
Another competitive advantage that we are bringing to the industry is the fact that we provide professional and trusted financial advisor services that assist businesses and non-profit organizations in operating sustainably. We also provide expert financial advisors in combination with our own business backgrounds and deliver valuable services in a timely and cost-effective way.
Lastly, we are a client-focused business that provides broad-based experience at an affordable fee that won’t in any way put a hole in the pocket of our clients. We will offer a complete range of financial advisory services to our local, state, national, and multi-national clients and we will ensure that we work hard to provide the counsel needed by our clients to accomplish their business goals and objectives. That perhaps will give us an advantage over our competitors.
Strategic Marketing Alliance with Our Competitors in The Financial Consulting Industry
When it comes to forming strategic marketing alliances with other players in the financial consulting industry, there are loads of opportunities. As a matter of fact, it is now becoming trendy in the financial consulting industry for smaller financial advisor firms to merge with bigger firms and for bigger financial advisor firms to acquire smaller firms; mergers and acquisitions. Many firms all over the United States are coming to the conclusion that the bigger the better for them.
For example, a financial advisor firm that is just starting out can look towards merging with a bigger financial advisor firm that is well positioned and recognized in order to form a strategic marketing alliance. So also, a larger financial advisor firm can look for a smaller firm that has huge potentials to acquire or to form a strategic marketing alliance with. It is a way of increasing revenue generation.
Creating Brand Identity for Our Financial Advisor Firm
It is a fact that any business that wants to grow beyond the corner of the street they are operating from must be ready and willing to utilize every available means (both conventional and non – conventional means) to advertise and promote their business. We are quite aware that boosting our brand awareness will go a long way to endear our financial advisor firm to the available market in the United States of America.
We have been able to work with our branding and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. First and foremost, we want our brand to be visible and well communicated which is why we have decided to work with different classes of people in the society. All our publicity materials and jingles are done by some of the best hands in the industry.
Below are the platforms we intend to leverage on to promote and advertise our financial advisor firm;
- Introduce our business by sending introductory letters alongside our brochure to stakeholders in the United States of America
- Advertise our financial advisor firm in magazines, newspapers, TV and radio stations et al
- Promote our financial advisor firm online via our official website and all available social media platforms
- Adopt direct mailing coupon marketing approach
- List our business on yellow pages / local directories (both offline and online)
- Position our billboards, signage / flexi banners at strategic places
- Encourage our loyal customers to help us make use of word of mouth to promote our financial advisor firm
- Sponsor relevant TV programs, radio programs, and community-based programs.
- Offer Pro Bono services as part of our community social responsibility
- Brand all our official cars
10 Possible Questions We Intend Asking Our Customers During Our Market Survey
These are the 10 possible questions we are going to put forward when conducting a marketing survey on our customers/clients:
- When was the last time you hired our financial advisor services?
- Are you comfortable with our contract terms and conditions?
- If you are not satisfied with our contract terms and conditions, what areas would you want us to work on?
- Aside from our financial advisor firm, have you ever engaged the services of another financial advisor firm / financial consultant?
- If yes, what is the name of the financial advisor firm?
- Are you comfortable with our price structure and the flexibility in our payment options?
- If you are to change one thing about our financial advisor firm, what would that be?
- How would you want us to communicate to you when we want to pass any useful information about our financial advisor firm that will be of great benefit to you or someone you know? Through letters, text messages, email, or via mobile apps (Twitter, Telegram or WhatsApp et al)
- Can you comfortably recommend the services of our financial advisor firm to your organization, family members, friends, and colleagues?
- Are you satisfied with our customer service delivery? If no, what areas would you want us to improve on?
Our Retentions Strategies (Ways to Improve Our Customer Experience)
It is easier for businesses to survive when they have a steady flow of business deals/customers patronizing their products and services and also when they are able to retain at least a minimum of 60 percent of their clients. We are aware of this which is why we have decided to offer a wide range of financial advisor services.
We know that if we continue to deliver excellent financial advisor services, there will be a steady flow of income for the organization.
We are in business simply because we want to make money and we know that we cannot make money without having customers that patronize our financial advisor services hence we have been able to map out strategies not only to win customers but also to ensure that we retain them and make them our loyal customers.
These are the ways we intend to utilize when it comes to improving our customer experience so that we can create a good impression and generate repeated businesses from them:
- We will make provisions to give out discounts to our customers from time to time whenever they patronize our services
- Aside from rendering our services at highly competitive prices in the financial advisor industry, we will also make available flexible payment options
- Make use of effective customer relationship management (CRM) software to effectively manage our clientele base.
- Ensures that we carry our clients along when making decisions that directly affect them.
The Ways We Intend to Advertise/Promote Our Financial Advisor Firm without Using the Internet
Here are the platforms we intend leveraging on when it comes to advertising and promoting our financial advisor firm in the market place without the aid of the internet;
- Place adverts on local TV stations, Radio Stations and Newspapers/Magazines
- Sponsor relevant community-based programs
- Install our Bill Boards in strategic locations in the United States of America and Canada
- List our financial advisor firm on yellow pages/local directories (offline)
- Ensure that all our official cars are well branded
- Encourage the use of word of mouth by our loyal customers to advertise and promote our financial advisor firm
- Attend chambers of commerce meetings with the aim of networking and promoting our financial advisor firm
- Design and freely distribute unique car stickers to promote and advertise our financial advisor firm
- Drop our cards in strategic locations such as post offices, train stations, airports, coffee shops, and restaurants et al.
The Ways We Intend to Advertise/Promote Our Financial Advisor Firm on the Internet
Beyond every reasonable doubt, the internet is known to be the biggest platform when it comes to advertising/promoting any business/brand, and one good thing about advertising on the internet that is far cheaper than other conventional advertising platforms. This is why we will ensure that we explore all available means on the internet platform to promote our financial advisor business.
Here are the ways we intending leveraging on the internet to advertise/promote our financial advisor business:
- Leverage on social media platforms such as; Instagram, Facebook, YouTube, Twitter, Google + et al to promote and advertise our financial advisor firm
- Make use of mobile apps to promote our financial advisor firm
- Design an interactive corporate website and use the platform to promote our financial advisor firm
- Place adverts on high traffic websites
- Engage in blogging and make use of the platform to promote our financial advisor firm
- Leverage on direct email marketing strategy and bulk SMS to advertise and promote our financial advisor firm.
The Possible Ways We Intend Offering Incentives to Our Customers/Clients (Bonus, Discounts, etc.)
From our feasibility studies and market research, we were able to pin point some of the strategies that will help us secure and retain clients as a new entrant into the financial advisor industry; one of such strategies is to offer mouth-watering incentives (bonuses, discounts, and rebates et al) to our loyal customers from time to time.
In view of that, we have documented some of the possible ways we intend to offer incentives to our customers in our business plan document and we hope to review them in order to continue to outsmart our competitors in the financial advisor industry.
We will ensure that we give out up to 50 percent discounts to loyal customers who are known to spend a certain amount as determined by our management team annually in patronizing our financial advisor services.
We will also give out gifts/souvenirs to corporate clients and individual clients during special celebrations such as Christmas seasons, New Year, Independent celebrations, Thanksgiving celebrations and Easter celebrations et al.
After Sales Service or Customer Support
The nature of our financial advisor services does not give room for after sale services which is why we usually go all the way to provide excellent services to our clients whenever they patronize our firm.
As regards customer support services, we will ensure that we maximize our customer relationship management software applications so as to keep in touch with all our customers to make sure we carry them along when we have any information that we know will benefit them and also to make sure they are satisfied with our services and to give them the opportunity to lodge their complaints if they have any.
The Creative Marketing Ideas Specific to Our Financial Advisor Services
One of the creative marketing ideas that we intend to adopt as a financial advisor firm that is a new entrant into the financial advisor industry in the United States of America is to regularly offer pro bono services to individuals who are in need of financial advisory services but due to one reason or the other can’t afford our consulting fees. We will ensure that we are involved in advocacy for investment and savings and also leverage on any opportunity to appear on relevant TV and radio programs to drive this narrative.
We will also ensure that all our employees are directly or indirectly involved in the sales and marketing of our financial advisor services. We will create a provision for our employees to earn a commission when they bring in business deals for the organization. We will also encourage freelancers to work with us; whenever they refer clients to us, they will earn a percentage of the deal.
Lastly, we will leverage on the power of the media to market our services using both online and offline platforms. We will work hard to ensure that we get repeated business from any business deal we execute and also, we will encourage our customers to refer our financial advisory services to their friends, family members, colleagues, and corporate organizations. Part of our strategy is to reward loyal customers and to leverage on word-of-mouth marketing from satisfied customers.