In our experience, many financial companies including IFAs are reluctant to engage in a retained model when it comes to marketing for IFAs.
We can understand why. Even here at MarketingAdviser, for instance, companies contact us and try to steer us towards the same thing. We tend to hesitate too. A retainer can make you feel “locked in” to something. But on the other hand, it can bring a sense of stability and peace of mind.
Paying your mobile bill or Virgin internet every month, for instance, can be restricting, but is also quite liberating. I know how much I’m paying every month, and I know what I’m getting. It means I can get on with other things and not worry about it.
We’d like to suggest that entering a retained agreement with a marketing agency brings these benefits, and more. Why?
Here are four good reasons.
1. Relationship Building Through a Dedicated Team
It might well be that your understanding of marketing for IFAs is that you come up with the plan. The marketing company then gets on with it, doing the heavy lifting. If that’s your approach, then the retainer model probably isn’t for you. However, if you’re looking for an extension to your marketing team, then a retainer is a great way forward. This model allows us to really get to know the needs of your business, partnering with you to provide strategic solutions which then hit the bottom line. Ultimately, a retained approach builds trust and relationship. This means better communication and passion for getting the work done, resulting in greater efficiency and value for money.
2. 360 Marketing Instead of Disjointed Campaigns
Let’s say you work with a freelancer to do your copywriting. Then you also work with another party to manage your PPC campaigns. Finally, you also have a web designer somewhere, who never seems to get things done on time! This all results in quite a disjointed dynamic, distracting you from your business as you try and pull these spinning cogs closer together. Quite sincerely, we believe marketing for IFAs is done best when it’s managed by an “all-in-one” agency like ourselves. With a retained approach, you know that all your marketing is being handled in one place. This gives you more headspace, and also saves you a lot of headaches (assuming your marketing agency is good of course!).
3. Advice, Knowledge and Resources on the Tap Marketing for IFAs is never static.
New developments emerge all the time. If you have a question about how a new social media platform should impact your marketing strategy, for instance, then with a marketing retainer you have access to the best advice when you need it. MarketingAsviser breathes marketing for IFAs. It’s our job and our passion to follow our industry closely, and advise our clients accordingly. Sometimes this means pushing back on unrealistic goals. Typically it involves delivering real, honest opinions which deliver tangible results.
4. Better Documentation, Tracking and Ultimately, Results.
When you have multiple companies handling different parts of your marketing, it’s easy to lose track of where your money is going and why. Marketing for IFAs is a lot more productive and straightforward when one agency sets SMART targets in line with your marketing goals and objectives. As your marketing plan is implemented, it’s also a lot easier to track your progress and measure the results. This allows you to refine your marketing efforts, delivering a better return on your investment.