Defining Your "Ideal" Client

Step 1: Who is your ideal client or customer?

This is a step that's often missed. It's often one of the most challenging steps when building a marketing plan. However, if you complete this step, the rest is done with a lot less struggle.

Who is your ideal client?

• What are their gross investable assets? How much revenue can you generate from this client, both now and annually?
• Life Stage – What stage of life are they in? Early Retirement? Pre-Retirement? Widowed? Early Family?
• Personality or other characteristics?
• Occupation? businessowner? Teachers?
• Minimum Income?
• Location – where do they live? Is this important?
• What are their expectations of their financial advisers?
• How do they view financial advisers?

This exercise will inspire your clients and referral partners, and will increase your enthusiasm for your work.

• Make a list of your business principles. These could be...
  • Effective Communication,
  
  
  • Continued Communication,
  
  
  • Customer Service,
  
  
  • Confidentiality,
  
  
  • Security,
  
  
  • Competency,
  
  
  • Quality,
  
  
  • Timely Advice, and
  
  
  • Respect, etc.
• List the commitments or guidelines you will make to your clients.

Once you understand who your clients are and what they expect of you, you'll have taken a big step in market planning.