Tidying up expert and best-selling author Marie Kondo inspires millions of people to spark joy in their lives by clearing clutter and organizing their home. Recently, my husband and I put her methodology to the test with our hall closet. This closet is the primary storage space in our 1700 sq. ft San Francisco flat that was overflowing with bins, bags, boxes, and coats. The result was astonishing.
Two days of committed effort yielded clarity, energy, and absolute unfettered joy! The headline on the KonMari website reads, “Tidy your space, transform your life.”I believe this same concept applies when you are marketing your firm. When you have clarity on your marketing, you transform your business.
How can you use the same tidying strategy in your business?
It’s time to take a look at everything in your marketing, from acquisition to retention to client engagement. Examine each part and decide what you works well and what should go.
Here are 4 marketing clutter zones to clean out so you can free up space, time and energy to grow your business faster and do more of what you love:
1. Your Website:
When was the last time you or someone at your firm did a thorough read-through of your website? Is there content, copy, or images that are outdated, off-brand, generic, or confusing? Do you have market charts and calculators that take up valuable space? Do you muddle your message with investment philosophy overkill rather than addressing worries and aspirations? To tidy your site you only need to answer these 5 questions.
2. Your Service Offering and Pricing:
Jettison services you no longer want to offer or fees that don’t serve you. Most often, cleaning out this part of your business results in greater efficiency, higher conversion, and more revenue. You have fewer clearer service offerings and charge in alignment with the value you provide. For example, you may decide that project-based planning or tax preparation is not worth the effort. Instead, you choose to focus only on comprehensive planning and investment management. Perhaps you adopt an annual retainer fee model and decide to eliminate hourly rates. You may switch to a flat fee for investments rather than a percentage of AUM.
3. Your Lead Generation Marketing Efforts:
A scattered marketing approach does not work and only leaves your mind cluttered as you try to sort through what to do next. To generate interest you must reach a person in your target audience multiple times before they register your existence. Prioritize your efforts and focus on follow through of a few key initiatives before introducing new strategies. High-priced SEO initiatives, twice-a-year blog posts, facebook ads without a highly targeted lead magnet, and content written for a broad audience all fall into the “wasted resources” bin. Throw those away.
4. Your Clients:
Client engagement is often the most enjoyable part of the work as a financial advisor. Strong relationships beget new clients who are often equally as fulfilling to work with. Are you letting clients who make you cringe — or worse, infuriate you — hang around to zap your energy? Are you accepting new clients you know are not a fit from the start, but you don’t want to say “No?” Have you updated your messaging on your site (from #1 above) to specify who is (and who is not) a good client?
One client of mine used to work with divorcées until he finally decided this work carried too much negativity and bitterness. Many of the firms with whom I consult say no to alpha males. Rather, they direct their energy to emotionally intelligent men and women who appreciate the value of financial planning and the advisor relationship. When you have a PITA client, be ready to say thank you and bid farewell, in perfect KonMari style.
When you tidy up your marketing, you commit to doing a few things very well. This thorough cleanout will spark new energy in you and your team that (prospective) clients will notice, too.