Balance Development and Maintenance Modes in Marketing
The Big Picture: The framework for a successful marketing plan will vary depending on whether a financial advisor’s business is in development or maintenance mode. It's essential to recognize when to focus on developing new initiatives versus when to work on established strategies.
Development Mode: In development mode, you are launching a big initiative such as a new brand or website. In this case, use the "12-Week Advisor Marketing Plan" for a detailed, synchronized launch.
Maintenance Mode: Most advisory businesses are in maintenance mode, where consistency and repetition are key to marketing success, rather than constant innovation. This is when you should establish marketing routines integrated into CRM workflows, such as sending weekly newsletters, posting regular blogs, and attending annual conferences. Establishing routines for daily, weekly, monthly, quarterly, and annual tasks can seamlessly integrate marketing into workflows and keep businesses ahead of the competition.
Key Takeaways:
Recognize when your business is in development or maintenance mode and adapt your marketing plan accordingly.
Use the 12-week marketing plan during development mode for a synchronized launch of new initiatives.
Establish marketing routines during maintenance mode and build them into your CRM workflows for consistent, long-term success.
Go Deeper: Read The Marketing Cycle: Navigating Between Development and Maintenance and The 12-Week Advisor Marketing Plan on Advisor Perspectives.