What To Do - And How To Do It

To market and grow a smaller professional practice of any kind is different than marketing a product, or a bigger organization. It takes some smart thinking, to avoid spending too much or wasting what you spend. But I'm here to say it can be done.

It starts with understanding how you're different and what you need to do.
These are the questions that you have to ask, understand and answer in order to get something done. Future posts will take these questions on, one at a time.

1) Why do I have to market a professional service differently than a product?

2) Just how do I do that in a way that is easy, common sense and do-able for you?

3) Why do so many professionals seem to struggle when it comes to marketing, and is there an easier way?

4) How can professionals and service providers cut through the clutter to get noticed?

5) How can I do that on a recession-sized budget so it doesn't hurt financially?

6) How can I do something effective to accelerate growth - without spending a bundle on consultants, marketing agencies and other vendors?

7) What are the specific strategies I can use to make something happen with my practice growth?

Those are the questions. The answers will follow in this space over coming weeks...

Financial Advisors & Planners: Get Going

According to a recent nationwide study reported in the Wall Street Journal:

72% of retirement-savings plans contributors have NOT changed their level of contribution.
16% are contributing MORE.
Just 11% are contributing less.
25% plan to postpone retirement.

In other words, people need investment guidance as much or more than ever. BUT, just 25% have sought help from a financial pro.

So, that leaves 75% of the market still out there, waiting for you to find them.
Start reaching out to the ones you know/can find, sharing your advice and building the relationship that will lead to them becoming clients. All the indicators point to this being the right time to do it.

Try Something Now

If you've held back from marketing yourself or your business from fear that 'people aren't spending right now,' consider giving it a try. People seem anecdotally to me in a more positive mindset the last few weeks.

I remember back in the '90s recession, having a disagreement with someone over whether it was ok to feel like things were better. She said no - she was reading the news reports of layoffs (a trailing indicator). I said yes - from what I was seeing and experiencing around me. That time I was right.

I have the same feeling now. I don't think we are out of the woods. I think we are due for a second hit late this year. But it feels to me like a thaw for now, and this would be a good time to get out there and make that call or send that mailing. I am doing it. What do I, or you, have to lose?