Investment Advisors Not Using Marketing Personas are Shooting Blindly

As an Investment Advisor searching (hoping?) for new clients, you need to know who your audience is (beyond the simple classification of liquid assets).  You need to understand your customer “Personas.”

What is a Persona? According to my friends at HubSpot, ;“Personas are fictional, generalized characters that encompass the various needs, goals, and observed behavior patterns among your real and potential customers. They help you understand your customers better. “

Knowing who your audience is allows you to tailor your message and your unique value proposition to that Persona. Let me demonstrate:

A current client of ours has had strong success over the years in providing investment advice and wealth management services to a particular Persona: “Dr. Mark,” a young doctor between 35-45 years of age, who is earning at least $200,000 per year.

The “Dr. Mark” Persona is so wonderfully specific because our client discovered early on what these doctors are thinking and worrying about and he found a compelling way to communicate his expertise to them.  He knows that young doctors are worrying about:

  • Will Obamacare reimbursement negatively affect my income?
  • How can I gain the financial freedom I need to stop being on call?

He has prepared investment presentations that specifically address the financial concerns of young doctors. Consider the appeal of a presentation or eBooks or other materials with a titles such as this:“What I Wish They’d Told Me about Money When I got out of Medical School” or “Three Mistakes Young Doctors Make with Their Money.”

Here’s the key to his success: By knowing who is audience is, and what they think about,  he has positioned himself very well as the preferred provider of investment advisory and wealth management services to young medical professionals.

When you define your Marketing Personas, you know who is thinking about what and you can offer up solutions that have strong appeal.

Compare that to an Investment Advisor who simply seeks “high income individuals with $X in liquid assets.”
Need help defining your marketing Personas? Click here to learn more.

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