Is your marketing program stuck in a rut? It's human nature to keep doing the same old things to attract new business — especially when you a) hate disruptions in your routine; b) are busy with clients you already have; and c) are not completely sure what works anyway.
But for the future of your practice, it's vital to step back occasionally and look at how to reach out more effectively to your target audiences. As the brilliant management consultant Peter Drucker used to say, "There are only two important functions in business: marketing and innovation. Everything else is cost."
I asked several advisors and consultants for tips on successful marketing tactics. Interestingly, a number of the ideas they shared with me sprang from the work of planner Kathleen Rehl, an early and prolific innovator in marketing to a previously overlooked population (See "Working with Widows," Investment Advisor, March 2014).
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