Shauna Trainor

Many entrepreneurs may be young professionals with limited business experience, or seasoned veterans with a staff of fresh workers. Because startups and burgeoning businesses have limited resources and lack a strong industry reputation, it is common for them to be staffed with recent graduates or professionals with limited expertise and hands-on experience. While it may seem as if youthfulness in an uncertain economic climate may be a noticeable hindrance to...

While many entrepreneurs focus their marketing and branding efforts on popular social media platforms such as Facebook, Google Plus and Twitter, they often neglect sites like LinkedIn. However, this social media channel can have tremendous branding power and offer business owners a new way to learn more about potential clients, enhance their brand exposure and connect with even more consumers. There have recently been big changes within LinkedIn...

Social media and interactive marketing strategies are dominating many industries, as entrepreneurs and business leaders look to engage shoppers through various channels. The proliferation of social media platforms, online shopping and mobile devices has created a digitally driven consumer base for most companies. Rather than relying on traditional marketing outlets to engage clients, businesses are experimenting with video and social media campaigns that play into...

Among major corporations and multinationals, a major topic regarding marketing is the use of big data. With more people than ever using smartphones, mobile applications, social media platforms, email, websites and other information-generating tools, marketers around the world are abuzz about how they can garner insights from the zettabytes of data that now exist. According to a March 2012 report from the International Data Corporation , the demand for big data...

Regardless of which subject of expertise we discuss on this blog, my colleagues and I often refer to the common theme of differentiating your business from your competitors. You have to determine what characteristic or function of your business will be the area that you and your team devote the most time, resources and efforts to. Will it be client service that best defines your company? Perhaps the constant research and development you invest into your products is...

Creating editorial content and publishing it in print publications and online platforms (blogs, social media, company website) is an excellent means of displaying your industry expertise. It has the added benefit of providing something of relevance and value to your readers, which, in theory, can increase their brand trust and loyalty. Content marketing can vastly expand your online presence and increase awareness of your organization. However, if the message...

No company can be the best in class regarding every aspect of its operations. Some firms specialize in how they manufacture their products, others put the most investment into customer service. They choose to focus on particular areas as a means of differentiating themselves from competitors and properly allocating the limited amount of available resources. Should a company stick with the methods it knows, or invest in experimenting with new avenues? Is it OK...

Marketing teams should never operate in isolation. The promotional materials and content they assemble, as well as the events they stage, should always be designed after receiving input and insight from the sales and client relationship management departments. Unfortunately, this does not always happen. Do you treat your marketing, CRM and sales functions as independent departments? Or do you realize that the activities of each group is closely intertwined with...

Remember, just because you complete the initial sales cycle with a prospect does not mean you can stop marketing to him or her. Indeed, that is only the beginning. The sales cycle is continuous. It is sustained not only by high-quality client relationship management and value-added service, but also by marketing efforts that speak to the evolving needs of both prospects and clients. I often discuss the importance of having a marketing mix on this blog - that is...

To advance prospects through the marketing pipeline and eventually guide them to the sales process, salespeople in any industry need to keep their targets "warm." Do you have a strategy for how you ensure you are at the top of prospects' minds? What have you done to guarantee that they associate your name with a particular service or product? Maintaining contact is only half of the sales process - you also need to constantly evolve what you are...

For many years, it seemed as if companies that got involved in social causes were either doing so for a public relations campaign or were not creating revenue as a result. However, the corporate attitude toward activism and social responsibility has evolved in recent years. Perhaps more executives realize that getting involved in local causes or global issues is deeply rewarding on a personal level and may prove profitable. A recent study from TBWA Worldwide...

For some businesses, the evolution of their marketing strategies has been slow. It is understandable: a business owner may be hesitant to introduce a new element to a formula that has been successfully promoting his or her company for years. But for an organization to enjoy a long life cycle and create sustainable growth, it needs to constantly push its boundaries and seek out ways to improve, not just maintain its current standing. Rest assured that competitors are...

Social media marketing is a main source of new leads and client feedback for many entrepreneurs . The low cost, digital solutions enable brands to engage directly with target audiences to share information, products, and insights. Clients can opt to respond via social media for more in-depth details, make a purchase or launch a discussion that can develop into a trusting relationship over time. Whether the company is a financial advisory firm or a small...

Entrepreneurs are ambitious, hard-working professionals looking to build a company from the ground up. Whether their business concepts develop into a financial advisory firm or a new IT company, how they market the enterprise is often very much the same. There are traditional channels for communicating with clients, and there are more modern platforms that focus on cost-efficient interactivity to drive business without a large investment. Such tactics rely...

When starting a business, entrepreneurs must devise strategies to reach out to clients to drive business and increase profits. The marketing tactics most widely adopted by modern business builders aim to leverage IT solutions, social media platforms and digital communication tools to engage tech-savvy clientele with convenient communications. Marketing teams are looking to Facebook, Twitter, emails and online videos to create open discussions with clients and...

When you vet prospective clients and compare them to your "ideal" client profile, do you take into account the length of time it will take to move them through the pipeline? Do you consider how they will mature and develop in the months or even years before they become clients? Have you thought about how they will grow during a long-term relationship? The people who will be your ideal clients in a few years may not be the perfect prospect today;...

Many entrepreneurs may think they have a plan for how they will allocate marketing budgets and spread awareness of their business. However, many of these ideas fall short of truly being strategies. They fail to capture the essence of what they want to achieve and how the various functions within the business - sales, marketing, service, administration - are all interwoven. To create a truly useful marketing strategy, compile a few key pieces of information:...

I have discussed the role that volunteer work and philanthropy can play in an organization, enabling entrepreneurs and their staff members to pursue causes near to their hearts while providing the added benefit of boosting the companies' image. However, sometimes charity runs and volunteer days are not enough to make a sustainable difference. Michael Porter, a professor at the Harvard Business School, has been advocating a different model of running a...

Entrepreneurs may feel too busy to deliver soft rejections to weak ideas, but the way in which you dismiss an employee suggestion can profoundly impact the culture of innovation in your organization. When team members come to you with ideas for new products or a theory on how your company can improve processes, display respect and carefully consider the merits of the suggestion before rejecting, exploring or adopting the idea. Regardless of your decision, be...

In past posts, I have discussed the importance of entrepreneurs and businesses giving back to their communities through their time, talent or treasure. These socially minded activities work not only to serve your stakeholders, improve the lives of others and allow you to focus on causes near to your heart, but also provide opportunities for networking and even marketing your business. I thought more about this issue after coming across an old piece...

Creating a consistent image for your brand can facilitate a closer connection between your business and your clients, particularly if you run a service company as opposed to one with physical products. A brand gives clients something tangible to relate to and form opinions about. But they are not the only ones for whom you should build your brand image. How you define your company will also dictate the role it assumes in its sector and local business community....

Many small businesses have already started their processes for budgeting for the new year and setting performance goals. Yet how many have given thought to how they will budget their resources and energies for marketing activities? It is vital to not only set a dollar amount for how much you will invest in marketing for 2013, but also identify how you will make the most of that money and what you plan to achieve from it. This outline will have to be informed by...

When trying to keep track of every function in your business, marketing may seem like the least pressing issue compared to sales, client relationship management and administrative duties. However, without a marketing strategy and schedule that you follow closely, you may find that your sales pipeline will start to run dry, and you will spend more time pursuing fewer new clients. Too many  entrepreneurs  run marketing as an afterthought, using it to...

The print ads, cold calls and air time you buy to increase awareness of your brand is called outbound marketing. This strategy can become costly and time-consuming, as you have to not only pay designers, publications and broadcast outlets, but also spend time pounding the pavement and making calls in search of prospects. When you spend this much time on marketing efforts, the rest of your business - service, sales, administrative duties - suffers. Recently, more...

When it comes to interacting with companies, it appears that consumers are starting to evolve their preferences and their processes for deciding which organizations to do business with. No longer do they wish to be engaged only when it is time to close the sales process. They seek out companies that offer them value beyond the product or service they purchase. This trend has lead to a rise in content marketing (publishing free and relevant information for the...

Marketing your organization has many interconnected components. The advertisements you place in print publications must carry a similar message to those you display online as well as the blog posts, newspaper columns or newsletters you write. In this marketing mix, we sometimes forget about one of the most powerful channels: Word of mouth. Recommendations, referrals, and introductions from the clients you currently serve can significantly impact your circles of...

Using social media for marketing purposes can often feel like you have arrived late and alone to a crowded event: There is no lack of people to talk to, but it may be difficult to cut in on conversations that began without you. Twitter is a main demonstration of this scenario. It can be confusing and overwhelming to know who to follow, how to get others to follow you and what to say to your audience once you have one. Hashtags and targeted tweets To...

LinkedIn's millions of users leverage the professional social networking site to share their content with business-minded peers and connect with decision-makers of companies they might never get to meet in the "real world." Indeed, an infographic from Imbue Marketing described the site as "the Facebook for grown-ups." Research conducted by LinkedIn , in partnership with FTI Consulting and Cogent Research, found that financial advisors can...

You may have noticed a common theme while reading the posts on The Covenant Group blog - the idea that every aspect of your business is interconnected with all the other functions in the organization. The success of each department is contingent on the others' performances. For instance, a well-written business plan will include mission and value statements, business opportunities and a marketing strategy, as Norm Trainor recently explained in the post, "...

We often discuss the fact that social media, email and other web-based technologies are integral to an organization's marketing plan, but it is wise to include more traditional communications in a multichannel strategy as well. Direct mail is a time-tested option for marketing that has lost attention because of the rise of relatively inexpensive email. However, studies have proven time and again that direct mail is effective and delivers a high return on...

When you are focused on building your business, offering services for free may sound like it should be at the top of your What Not To Do list. After all, why give away what you can charge for? However, while pro bono work does not bring in money, it can have a plethora of other important benefits that should not be overlooked. "Pro bono" is an abbreviation of the Latin phrase "pro bono publico," which means "for the good of the...

Recently, there has been an increasing amount of discourse centered around whether it's necessary - and indeed appropriate - to specifically market financial services to women. In my opinion, you are missing a significant opportunity if you are ignoring the purchasing power of women. The majority of household financial decisions are made by women, as are the majority of all brand purchases. In addition, with an increasing number of young people remaining single,...

Philanthropy is traditionally viewed as a selfless pursuit, but that does not preclude your company from taking advantage of the positive publicity or influence generated by charitable efforts. As I wrote in "Business Philanthropy Comes in Many Forms," your chief motivation should not be commercial gain, but at the same time, there is no reason to hide your good deeds. Why not take the opportunity to promote your company while giving back? Making clients...

As a business professional, you no doubt know that there is more to business success than simply having a good idea. Branding is paramount, as it allows you to elevate your company within the market. An effective brand stands out from the crowd (for the right reasons), which can ultimately be beneficial in terms of remaining top of mind and boosting revenue. Repetition, repetition, repetition When it comes to creating a strong brand, placing a heavy focus on...

I have discussed LinkedIn minimally in the past, mentioning it as just one of the many social media platforms that you can integrate into your marketing mix. But the professional networking website can serve as much more than a digital business card. When properly designed, utilized and leveraged, it can open up entirely new groups of clientele and expand your presence beyond the people who have your name in their contact list or Rolodex. The good news is...

The topic of Twitter-based client service may seem to fit more into my colleague Anthony Lam's area of expertise (client relationship management) than mine, but there is a marketing bent that should not be overlooked. After all, customer service and marketing are intertwined. When you communicate with clients on a public forum, you are displaying your commitment to service - or lack thereof - for other clients and prospects to see. At the end of the day, good...

Many companies are planning to ramp up their investment in social media marketing this year, as the channel continues to prove itself as an easy, cost-effective way to reach both customers and prospects. Indeed, more than half (53 percent) of the approximately 375 advertising and marketing executives who took part in a recent survey by The Creative Group said they expect enterprises of all sizes to channel more marketing funds toward Facebook in 2012. Just 4...

Marketing and business expansion are very much intertwined and reliant upon each other, but doing your research is one of the biggest factors for both. How do you identify opportunities for building your business in new markets? What is your process for updating your marketing strategy to include value propositions for a different set of prospective clients? Do you think the two parts of your business are connected?  In marketing and promotions, you need to...

With the ever-increasing accessibility of all things media - online newspapers, image-centric social media platforms, smartphones that can take better pictures than some cameras and more - it seems our culture is becoming more visual. While financial services may seem more numbers- and analysis-based than anything else, there can still be a place for visuals in your marketing mix. Instagram, Tumblr and Pinterest may not immediately seem applicable when...

Podcasts have become a means for people to keep track of radio shows and learn about a variety of topics without listening to the radio. It's possible to download podcasts and listen to them at the office, in the car, at the gym - pretty much anywhere with a speaker or a set of headphones. In an age when practically everyone is hyper-connected, it's time to tailor your marketing strategy to reach existing and prospective clients wherever they may be. As I...

Having too narrow a view of what constitutes a commitment to the community can prevent your business from getting involved in corporate philanthropy. Yet it's possible to contribute to nonprofits not only through monetary donations, but with the gift of your time and/or your talents. A firm may not have the extra revenue to write a check in support of a cause or local charity, but entrepreneurs  can help organizations by utilizing their financial,...

Most financial advisors spend a lot of time devising ways to build up their businesses and deepen their relationships with clients. Being selfless in client relationship management is essential to creating client capital, and FAs should regularly strive to deliver value-added service. But when was the last time you thought about serving your community? Giving back to your neighborhood or local region can be good for the soul as well as for your business. As I...

Financial advisors may be nervous about using social media as a networking and marketing tool, but compliance and familiarity with the platform are easy challenges to overcome. This is an important topic in the industry, one that I covered before in another post, " Financial Services Shouldn't Fear Social ." As social proves its worth in the marketing mix, FAs can create a strategy for speaking directly to your various client groups and sharing your...

Marketing your business requires a multifaceted program that addresses what occurs within and outside the organization. While many financial advisors are very talented at networking and selling, it's necessary to have a longer-term plan to drip on prospects and prevent the highs and lows that can sometimes plague a salesperson. To achieve a solid, steadily increasing pace, FAs have to create a marketing plan that incorporates six to eight robust marketing...

Establishing your brand is so much more than raising awareness through marketing and promotions. It also involves making internal and external decisions that solidify your commitment to your company's core values. You can reaffirm your corporate mission and values through tangible acts in the surrounding community. What better way to share your success while gaining exposure for your business? While marketing your company's good deeds and community involvement...

Chances are, you own a smartphone and/or a tablet, and are constantly connected to emails, text messages, news feeds and all the other channels of communication that have been consolidated into one handheld tool. How many of your existing and prospective clients do you think are also using these tools? One of the central tenets of marketing is to bring your message to where the customer is, rather than forcing them to seek out your business. The latter strategy...

There has been a shift in consumer thinking in recent years, as more people want to patronize businesses and service providers who have values and morals they agree with. How do you align your business purpose with your clients' underlying values? What do you do to ingrain trust and corporate responsibility into your operating model? Do you have a process for learning the issues that your clients care about? According to the Edelman 2012 Trust Barometer ,...

It's no surprise that many independent financial advisors have been hesitant to join social media networks - even many of the 50 most important private banks and wealth management institutions worldwide have lagged behind, according to a study by Assetinum.com. Measuring the FIs' use of Twitter, LinkedIn, Facebook and YouTube, as well as their website-social media integration, the researchers determined that the banks averaged 43 out of a possible 100 points....

Once entrepreneurs set up their social media accounts, the next challenge is figuring out what to say. How do you determine what your followers, connections and fans want to hear in your tweets and posts? What do you do to turn readers into engaged clients and prospects? Do you pay attention to your ideal clients' values and goals, and cater to their interests in your content? A study by Kurt Luther, Michael Bernstein and Paul André investigated the...

Social media offers entrepreneurs so much more than a way to market themselves. Recently, I read an article by Forbes contributor Christine Crandell that gives some perspective to the strategic role social media fills in an enterprise. She argues that too many companies have added social media to their marketing campaigns for shallow reasons. They think it will be the magic bullet to building better relationships with their customers, when in fact, it is a tool...

Entrepreneurs who were seeking to build client capital and expand their market presence in the past would conduct seminars and write regular columns for local newspapers. Those tactics continue to be strong components of a multichannel marketing strategy, but corporate blogs have emerged as another popular platform for reaching an audience beyond your immediate circle of contacts. It's easy to get discouraged when you spend hours researching and writing a...

Have you ever seen the impact a leaky faucet can make on a bar of soap? After a while, the small drops of water can leave a significant dent in the soap bar. That same effect can be seen when marketing to prospective clients through a slow but steady flow of email communications, phone calls, articles and other promotional efforts. It's likely you have quite a few prospects in your sales pipeline, some of which are close to becoming clients and a few who may need...

Yes, marketing is an essential part of running a business, but entrepreneurs should not view this activity as something separate from all other aspects of the company. Buying ad space or reaching out to prospects through newspaper articles and blogs will help establish your brand. Yet the efforts can also double as lead gathering and client relationship management opportunities. In a piece for Entrepreneur magazine, Ann Handley outlines some newer technologies...

A key part of financial advisor coaching is learning how to integrate technology and social media into your marketing strategy. Since most people's primary source of information is the internet, if you don't have some presence online, many potential clients will be unable to learn more about you and your business. How can you attract prospects and build client capital if no one knows who you are or where to find you? In a piece for The Wall Street Journal blog...

In a sales meeting, it's important to earn permission before proceeding to the business proposition, and that same sentiment applies to email marketing. Deborah Shane writes for Small Business Trends  and highlights that entrepreneurs can establish trust as they build their businesses by giving clients and prospects the option to receive emailed messages, information and resources from you. "It is also a very targeted and effective way to 'ask...

The only way to build your business is to tell people about it, and online social networks are presenting more opportunities for marketing and connecting with clients. Some financial advisors may assume that their companies could get nothing more from social media than a few fans on Facebook, but the medium is actually much richer. Many organizations have already found the customer service and operations value that can be realized through the networks....

The wide variety of social media websites means the web provides a marketing option that can fit any industry's needs. Often, financial advisors shy away from social networks as a means of promoting their businesses because they are unfamiliar with the technology or think that it only exists for communicating with friends and family. On the contrary, some major players in the financial services sector, including Merrill Lynch and Bank of America, have already...

If you're new to using social media for business purposes, the idea of connecting with colleagues, clients and prospects and marketing your firm through online networks can seem daunting. Luckily, Facebook recently released a new guide listing some of the best practices for advertising on its website. Before launching a profile on the network as part of your broader effort to market your firm, it's necessary to take some time to plot out your strategies, the...

With everyone from teenagers to high net worth individuals becoming voracious consumers of social media and digital content, it is important to reach out to existing and prospective clients through the channels they use to access information. In your financial advisor training , you've learned the tools and tactics that empower you to help clients protect and expand their assets. But you may not have discussed how, if you want to build your business, you need to...

Fears about falling out of compliance due to a social media program may be one of the reasons that some financial advisors have avoided the networking websites as a means of marketing themselves and building client capital. However, from one-person firms to organizations as large as Morgan Stanley, advisors are getting involved in blogs and Twitter without running into trouble when it comes to investor protection or disclosure problems. Glen D. Gilmore - a lawyer...

Businesses are learning that financial advisor training in how to use online networks is a great asset in marketing their services, building their client capital and expanding their spheres of influence. A presentation from Radian 6, a social media monitoring company, outlines some of the most important touch points that an entrepreneur in the financial services sector should try to hit with his or her social campaign. There are a number of social...

Social media websites are wonderful platforms. In addition to providing a venue for you to position yourself and your employees as experts in your field (through articles on blogs or periodic newsletters), social media can also help you acquire new clients - a key requirement for building your business. Reuters tells the story of financial advisor Mitchell Rock, a senior vice president with The Rock Group at Morgan Stanley Smith Barney. He has gone from...

Developing a pipeline of potential leads that can result in a client relationship is one of the main methods of building and expanding a business. However, without a clear definition of what your company is and what it is trying to achieve, it will be hard to spread the word to prospects about what you're doing. Financial advisor training on marketing may add some clarification. Social media can be a great way of promoting your brand, increasing awareness and...

As an entrepreneur, you likely have more titles than you know what to do with. Not only are you advising your clients and managing their assets, but you may also be the head of payroll, the HR manager, the marketing chief and the rainmaker. With all that on your plate, it may seem like networking and advertising through social media websites is just too much to handle. So how can you work blogs and other social media platforms, which are quickly becoming the most...

What marketing tool allows you to bolster your list of contacts, expand your professional network and browse for your ideal clients? The answer is Social Media. The ability to market yourself and your services on a social network represents a key way to establish expertise in the field, attract new business and connect with industry peers. You may be scrambling to connect with enough prospects and customers to maintain your current level of business and expand...