There are many reasons to add a digital marketing strategy to your advisory practice. And while a well-executed digital strategy can help almost any business owner reach their goals faster and more efficiently, it isn’t a silver bullet. For best results, a little preparation and clarity can go a long way.
Before adding a digital marketing strategy to your advisory practice, make sure you can answer these 6 questions:
1. Why does my business exist?
This question shouldn’t drive you to existential crisis. Presumably, you started your business for a reason beyond simply paying the bills. Because if paying your bills were your only goal, you’d go work for someone else and let them bear all the risk.
In his book Start With Why, author Simon Sinek makes the case that people won’t buy into your product, service, or idea without understanding the why behind it. So, what drives you to keep going? If you don’t already know the answer to this question, pushing yourself to come up with your why can have a meaningful impact on your business (and personal fulfillment) whether you add a digital marketing strategy or not.
2. What’s my brand promise?
What can you offer your clients that makes you and your brand worthy of their attention? And does your marketing material—and most importantly, your website—reflect this promise?
If your brand promise isn’t clear to you, it definitely won’t be clear to your website visitors. They’re likely to head elsewhere if they don’t immediately understand how you can help them. So, it’s worth taking some time to clarify your brand messaging if you want your digital marketing strategy to be effective.
3. Who do I want to serve?
You don’t have to appeal to everyone. Or as marketing expert Seth Godin puts it, “everyone is not your customer.” Though it may feel uncomfortable to turn away potential clients, your marketing strategy will be more impactful if you focus on a specific segment of the market–in other words, “niche down.”
Your ideal customers are more likely to find you, trust you, and promote you to others when you’re not only clear about who you serve, but can genuinely connect with them on their level. So before you build out your online presence, figure out who you want to serve and make it your mission to attract them (and only them) to your brand.
4. What’s my definition of success?
Get specific about your marketing strategy (and overall business) goals. Whether you’re looking to add clients, grow revenue, add flexibility to your business model, or eliminate redundancies, it helps to know what you’re trying to achieve with your digital marketing strategy before designing and implementing it. That way you know which metrics to track and manage to know whether it’s working or not.
5. What resources do I already have available to me?
Even though it may feel like it right now, you’re not starting from zero. Every business owner has resources they can leverage to hit the ground running with a new digital marketing strategy. For instance, everyone you know—from past and current clients to your personal network and social media connections—can help you promote your advisory business online (and may even turn into clients themselves). They can also provide you with helpful feedback, so you know whether your ideas will land with your target audience.
Not to mention, the knowledge and skills that helped you build your business in the first place all translate to the digital world. Take inventory of all your resources and use them to your advantage when you launch your digital marketing strategy.
6. How much am I willing to invest in digital marketing?
A digital marketing strategy doesn’t require a substantial financial investment to be effective. It does, however, require consistency and patience to be successful.
If you’re not willing to invest the time to make it work (or outsource it to someone who will), a digital marketing strategy probably won’t help you reach your goals any faster than your current approach. Make sure you’re committed to the concept and the work before updating your business model, or you’ll end up more frustrated than when you started.
If you are ready to move forward with your digital marketing strategy, Left Field Insights can help! Schedule a free consultation to discuss your digital marketing goals and find out if our services are right for you.
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