2024 Digital Marketing Secrets for Financial Advisors & RIAs – $3 Million Per Month Asset Formula

Happy New Year! As we embark on this exciting journey into 2024, it’s crucial to set clear goals and create a plan to achieve them. In this video, Alex Khassa from clientsblackbox.com shares valuable insights specifically tailored for holistic financial advisors. Whether you’re in the financial industry or not, these 11 steps can guide you towards a successful and prosperous year.

Step 1: Have a Goal
The foundation of any successful endeavor is a well-defined goal. Take a moment to articulate your 2024 target, as having a clear objective provides direction and purpose to your actions.

Step 2: Make the Goal Worthy of You
Evaluate if your goal is worthy of your efforts. For holistic financial advisors, aiming for a minimum of $30 million in new assets per year is a standard that reflects the potential of the right activities.

Step 3: Follow the 1% Rule for Marketing Budget
Reverse engineer your marketing budget using the 1% rule. Allocate funds based on the expected return, understanding that investing in marketing is essential for reaching your financial targets.

Step 4: Optimal Ad Spend for Advisor Teams
For advisor teams, the sweet spot for ad spend is around $15,000 to $18,000 per month per advisor. This investment generates a significant number of booked appointments, positioning advisors for success.

Step 5: Safety in Overspending on Marketing
Consider overspending on marketing as a strategy for unlocking potential opportunities. Meeting with more people increases the likelihood of encountering significant opportunities, ensuring a positive return on investment.

Step 6: The Number One Predictor of Sales Success
According to Ryan Tracy, the number one predictor of sales success is the number of people you talk to. Recognize that success in the financial industry is a numbers game, emphasizing the importance of engaging with qualified prospects.

Step 7: Plan for Seasonality
Acknowledge and plan for seasonal variations in the financial advisory industry. Adjust your approach during slower seasons to ensure consistent productivity throughout the year.

Step 8: Include Your Sales Cycle in Your Plan
Factor in the duration of your sales cycle when creating your 2024 marketing plan. Understanding the time it takes for leads to convert helps in managing expectations and optimizing your efforts.

Step 9: Focus on Revenue Generating Activities
Identify and prioritize revenue-generating activities, such as talking to new prospects and closing qualified deals. Delegate tasks that do not directly contribute to revenue, allowing you to focus on high-value activities.

Step 10: Go Virtual
Expanding your market by working with clients virtually opens up opportunities to connect with high-net-worth individuals across the U.S. Leverage online platforms and position yourself as an expert to attract and serve a broader clientele.

Step 11: Grow Through Recruiting
Once you’ve established a consistent inflow of new assets, consider expanding your team. Recruiting additional advisors can further boost your production and overall revenue.

These 11 steps provide a comprehensive guide for financial advisors to navigate the challenges and seize the opportunities of 2024. Which step resonated with you the most? Share your thoughts in the comments below and, for a detailed breakdown, download the accompanying PDF. Here’s to a successful and fulfilling year ahea

Alex Khassa

Alex Khassa

Alex Khassa is a marketing consultant for financial advisors, partnering with RIAs (2-30 advisors) to 3x their FIA production fast w/ better ROI & 10x less effort... without webinars, seminars or buying more leads.


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