{"id":4444,"date":"2018-04-12T11:23:00","date_gmt":"2018-04-12T11:23:00","guid":{"rendered":"https:\/\/emoneyadvisor.com\/blog\/bullseye-how-analytics-help-advisors-target-ideal-clients\/"},"modified":"2021-02-03T16:02:42","modified_gmt":"2021-02-03T16:02:42","slug":"bullseye-how-analytics-help-advisors-target-ideal-clients","status":"publish","type":"thought_leadership","link":"https:\/\/emoneyadvisor.com\/blog\/bullseye-how-analytics-help-advisors-target-ideal-clients\/","title":{"rendered":"Bullseye! How Analytics Help Advisors Target Ideal Clients"},"content":{"rendered":"<p>What is an ideal client?<\/p>\n<p>It&#8217;s a common term in marketing circles; though, the concept should pique your interest nonetheless.<\/p>\n<p>An ideal client benefits from the financial service you provide and their business delivers the biggest value to your bottom line.<\/p>\n<p>Ideal clients are loyal, they collaborate with you often, and they refer you to their family, friends, and colleagues. Hopefully the last bit of information caught your attention.<\/p>\n<p>Referrals are the heavy hitters in your marketing lineup. <b>Ninety-two percent of financial advisors<\/b> identified referrals as their most successful marketing tactic according to a 2017 Financial Services Marketing Benchmarking Report from OutboundEngine.<\/p>\n<p>It&#8217;s safe to assume that as you acquire more ideal clients, your referrals will increase as well.<\/p>\n<p>And that&#8217;s where marketing analytics can help you.<\/p>\n<h2>The Ideal Client Profile<\/h2>\n<p>The logical first step to targeting your ideal clients is identifying who they are.<\/p>\n<p>Start by creating a demographic profile that will drive all of your marketing initiatives.<\/p>\n<p>When choosing an ideal client, think specifically about:<\/p>\n<ul>\n<li>The number or type of assets this person owns.<\/li>\n<li>The assets they have held away.<\/li>\n<li>Their occupation, age, gender, and marital status.<\/li>\n<li>Where they live.<\/li>\n<li>Where they work.<\/li>\n<li>The financial needs they want to meet or the challenges they want to overcome.<\/li>\n<\/ul>\n<p>You may have gathered this demographic information already, albeit informally. But after you&#8217;ve collected this data, you then need to measure how successful this profile has been in attracting and closing ideal clients.<\/p>\n<p>Using marketing analytics, you can verify whether you&#8217;re missing key pieces of your ideal client profile, or better yet, confirm you&#8217;re spending your marketing dollars in the right places.<\/p>\n<h2>The Nitty-Gritty of Marketing Data<\/h2>\n<p>By improving your analysis of client demographic data, you can identify potential marketing opportunities.<\/p>\n<p>For example, a quick analysis of your ideal client profile could show you that a majority of clients have assets held away in life insurance at the same institution. With this level of detailed information, you could create marketing campaigns to better target similar clients.<\/p>\n<p>Analytical tools can help you identify these trends faster than any spreadsheet.<\/p>\n<p>Pouring over your demographic data can be tedious and time-consuming. However, machines can filter and sort this data for you. It would take a computer half a blink to scour through all of the data from your client base and produce an organized report.<\/p>\n<p>Streamlining the process allows you to focus on big-picture marketing initiatives and strategies to attract your ideal clients.<\/p>\n<h2>You Are Still Part of the Equation<\/h2>\n<p>While machines can do the heavy analytical lifting, you&#8217;re the most important aspect of your business.<\/p>\n<p>Technology can only locate the highest quality leads. It&#8217;s up to you to sell your expertise. By using analytics, you give yourself an edge in new client acquisition.<\/p>\n<p>Want to learn how business data reveals opportunities to help you grow your business?<\/p>\n<p>Check out our white paper <b>The Importance of Business Analytics for Financial Advisors<\/b>.<\/p>\n<p><!--HubSpot Call-to-Action Code --><span id=\"hs-cta-wrapper-20c0ca23-6e3b-47d4-b09d-40a97d6c27d0\" class=\"hs-cta-wrapper\"><span id=\"hs-cta-20c0ca23-6e3b-47d4-b09d-40a97d6c27d0\" class=\"hs-cta-node hs-cta-20c0ca23-6e3b-47d4-b09d-40a97d6c27d0\"><!-- [if lte IE 8]>\n\n\n<div id=\"hs-cta-ie-element\"><\/div>\n\n\n<![endif]--><a href=\"https:\/\/cta-redirect.hubspot.com\/cta\/redirect\/412965\/20c0ca23-6e3b-47d4-b09d-40a97d6c27d0\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" id=\"hs-cta-img-20c0ca23-6e3b-47d4-b09d-40a97d6c27d0\" class=\"hs-cta-img aligncenter\" style=\"border-width: 0px;\" src=\"https:\/\/no-cache.hubspot.com\/cta\/default\/412965\/20c0ca23-6e3b-47d4-b09d-40a97d6c27d0.png\" alt=\"Download White Paper\" \/><\/a><\/span><br \/>\n<\/span><!-- end HubSpot Call-to-Action Code --><\/p>\n","protected":false},"author":47,"featured_media":4445,"template":"","thought_leadership_cat":[94,93,90],"class_list":["post-4444","thought_leadership","type-thought_leadership","status-publish","has-post-thumbnail","hentry","thought_leadership_cat-financial-planning","thought_leadership_cat-industry-news-and-trends","thought_leadership_cat-marketing"],"acf":{"left_sidebar_ads":false,"right_sidebar_ads":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Analytics Help Advisors Target Ideal Clients | eMoney Advisor<\/title>\n<meta name=\"description\" content=\"Learn how to use marketing data to find your ideal clients.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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