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5 Steps To A New Marketing Plan: Practice Management Solutions
5 Steps To A New Marketing Plan: Practice Management Solutions
Harteting
for realistic
timelines. It is common
to be overly optimistic
and try to accomplish
every tactic in the first
quarter. This can rarely
be accomplished and will
be counterproductive to
your overall marketing
success."
Step 1: Estabiish Goals and Objectives
Start your marketing plan with your
end goal in mind. Choose the three
goals and objectives that will be most
impactful on your business. Refrain
from choosing too many objectives as
you will either dilute your efforts or set
yourself up for failure.
Ultimately, marketing should support
revenue growth. For mostfirms,the
primary goal will be a revenue, AUM, or
client goal. Beyond afinancialgoal, your
Marketing
a strategy to communicate major
changes in your firm such as a
merger, acquisition, succession, or
other transition.
Recruiting. Establishing a
strategy for attracting new books
of business.
$3M-
$250-
$500K-
$250K
$500K
$1M
$2M
$3M
$5M
1.2%
3.5%
3.8%
2.5%
$9,092
$54,912
$89,546
$99,64
5.3%
Percent of annual
2.0%
$1M-
$2M-
Less than
revenue
Average dollar
$8,747
$7,851
FPAJournal.org
The final step in the marketing plan process is to measure your results and make
adjustments throughout the year. Ideally,
you should track the source of all new
leads, prospects, and clients in your CRM
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