What a week. We woke up the morning of Monday, March 9th, to a thunderous market storm. First, we heard about oil plunging a whopping 24%, its worse day since 1991. Saudi Arabia slashed its oil prices. And what was the main driver of all this?
Coronavirus, of course. Cases are increasing and stores are running out of toilet paper and dry goods. In the markets, we're seeing extreme volatility as advisors and clients face up to an unsettling reality. The unprecedented pandemic looks to be tipping us into a recession. As we saw on Thursday, the Dow posted its biggest single-day loss since 1987.
With client fears rising, as an advisor, you have to be proactive. You have to have suitable strategies to not only help clients stay on course, but to ensure your practice stays afloat. This applies to your marketing as well.
For years, many advisors have relied on tried-and-true marketing methods, like in-person and dinner seminars. All of these traditional methods can be highly effective in capturing leads and growing business. But we're living in different times and the world is changing quickly. Messaging in print mailers sent weeks ago is already outdated. Advisors need alternative ways to move fast and address what's on people's minds right now.
And let's face it. For many advisors, the target prospect is in the 55 to 60+ age group. COVID-19 infection and complications can be especially dangerous for older people, and this group has been advised by the CDC to stay home as much as possible. This has resulted in lower event registration and attendance, as advisors are left with very little return on their marketing investment.
Get creative with your marketing now
What can advisors do? You don't have to bury your head in the sand. We've created a webinar to discuss creative ways to help you stay in front of prospects and clients in the age of coronavirus. WATCH ON DEMAND and get marketing strategies designed to help you keep your sales funnel full.