I get it. You have a lot going on… too much to be able to focus on marketing.
But today’s financial services industry is highly competitive and only getting more so with the addition of robo advisors. Standing out from the crowd can be as challenging as Tom Brady coming out of retirement to win another Super Bowl.
For financial advisors looking to showcase their expertise and build strong client relationships, writing a lead-generation book can be a true game-changer.
You want to attract the best prospects. Few marketing tactics can do it better than writing and publishing a lead-generation book that focuses on a target audience.
However, merely putting pen to paper and publishing a book is not enough. Success hinges on effectively marketing the book, and many financial advisors often fall short in this area.
And although marketing really isn’t your thing, it is mine and I have some ideas on how your book can make a positive impact upon your practice.
Fortunately, with the right strategy and a target audience in mind, you can successfully market your book, enhance your credibility, and win more clients. Here are four key mistakes commonly made by financial advisors in their book marketing strategy and offers tips on overcoming these pitfalls to achieve success.
Mistake #1: Neglecting to Define a Clear Target Audience
Before starting your journey of writing and marketing a business book, you need to first have a firm understanding of who your ideal readers are. Identifying a focused target audience will not only help in crafting a book that addresses the specific needs and pain points of your readers, but it will also serve as a basis for a well-directed book marketing campaign.
How to correct this mistake:
Carve out a niche market: Financial advisors should pinpoint a particular sector, demographic, or type of client they want to target. This could be individuals nearing retirement, women entrepreneurs, or families seeking college planning assistance.
Create reader personas: Build detailed profiles of ideal readers, including their financial goals, pain points, demographic data, and even preferred communication channels. This can help tailor marketing messages for maximum impact.
Mistake #2: Ignoring the Value of Pre-Launch Marketing
Many financial advisors make the crucial error of waiting until their book is already published to begin marketing it. Promoting a book well in advance of its release can help generate buzz and excitement, ensuring that the launch is off to a strong start.
How to correct this mistake:
Build an author platform: Leverage existing social media, blog, podcast, or video channels to share updates and snippets about the book’s progress. Financial advisors who have not already established their online presence should begin building one strategically, focusing on platforms most frequented by their target audience.
Generate pre-orders and reviews: Encourage early supporters to pre-order the book, and make sure to request their feedback in the form of reviews once they’ve read it. Honest testimonials can be powerful marketing tools.
Mistake #3: Failing to Utilize Free Marketing Channels
In the quest to market their business book, some financial advisors might gravitate solely towards paid promotional options. However, several effective and free marketing channels can provide valuable exposure for the book, its contents, and its author.
How to correct this mistake:
Guest-blog on industry-relevant websites to demonstrate thought leadership and provide value to readers while promoting the book.
Appear on podcasts or other online media outlets that cater to your target audience, discussing your book’s key takeaways or sharing expert advice gleaned from its pages.
Create shareable infographics, videos, or blog excerpts from the book to provide a preview of its worth to potential readers.
Mistake #4: Overlooking the Power of Networking
While marketing and promotion are essential components of a successful book launch, financial advisors should not discount the value of leveraging their existing professional networks.
How to correct this mistake:
Engage with industry peers and fellow professionals, sharing news about the book, and requesting their support in spreading the word.
Tap into local resources like chambers of commerce, networking groups, or seminars, to connect with potential readers in person and offer signed copies of the book.
Avoiding these common mistakes when marketing a business book can make all the difference for financial advisors seeking to elevate their professional stature, acquire new clients, and establish themselves as thought leaders in their industry.
By targeting a specific audience, building anticipation before launch, harnessing free marketing channels, and leveraging their professional networks, financial advisors can maximize the reach and impact of their published works, boosting their credibility and business success.
If you’re ready to get started with writing a lead-generation book, you owe it to yourself to schedule a conversation with me. I’ll explain what is involved and give you details so you can make an informed decision. Click here to schedule a conversation.
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