5 Features Your Advisor-Specific CRM Should Have for More Effective Marketing


Written by Kronos Technologies on January 15, 2019

The key to creating a steady stream of new, high value prospects is to create a marketing system for your practice. This involves creating a comprehensive marketing strategy and consistently implementing 4-6 marketing initiatives on an ongoing basis. This may seem like it could involve a lot of effort, but with the help of a good advisor-specific CRM you can greatly reduce the time spent managing marketing activities, and make those activities far more effective than ever before. 

Read on to see how 5 great CRM features can help you take your marketing campaigns to the next level.

CRMs help you define who you will market to

The first step in creating any marketing campaign is to determine who you are trying to attract. The more targeted your approach, the greater interest prospects will have in your offering and the more success you will have. A good, advisor-specific CRM can help you identify your target market easily and effectively. 

Highly effective marketing is highly targeted marketing. It all starts with a detailed understanding of the type of prospect you want to attract. To develop such a profile it is helpful to segment your existing client base and determine just who your best ‘A’ and ‘B’ clients are. The characteristics that they have in common are the most likely characteristics that great prospects will have.

Download our Segmentation worksheet

Good CRMs have a wide range of filters that can be used to search your contact base and find contacts who share specific characteristics. These filters can include everything from age, career, and income to products clients have already purchased. In some cases CRMs also allow you to create and attach tags to a client record. These tags can describe any criteria at all, and make it possible for you to search your client list by an almost unlimited number of characteristics. 

When planning your campaign you can use these filters and tags to quickly identify exactly who you want to contact. For instance, you could easily filter your client base to find those existing clients who have already purchased a Life Insurance product but don’t have Critical Illness coverage. You could then further refine that group by filtering for clients in a certain age range. The more you refine your search the more targeted and successful your campaign is likely to be. 

Some CRMs also allow you to track potential sales opportunities as they arise, so that they don’t get forgotten. In many cases you can use this feature to keep track of outstanding opportunities, generate reports showing which ones are outstanding, and even see why opportunities are not being capitalized on. In some cases you may decide to create a marketing campaign that is targeted directly to those prospects and clients you have already identified as potential purchasers of a certain product, or who have a similar need.

CRMs help you craft your message

Once you have identified your target audience for your marketing campaign, the next step is to decide what you want to say and how you will say it. Good CRMs can help with this process.

Many CRMs—especially advisor-specific ones—include a wide variety of pre-defined, pre-written documents that you can use in your marketing campaigns. There may be templates for actual marketing pieces, emails or supporting correspondence. Using these pre-defined templates, not only saves you the time you would otherwise have to spend crafting a marketing piece or an email, but they also ensure a level of quality and consistency of message across your campaigns. 

In many cases these templates can be customized so that they include your brand, are worded in your own preferred style, and accurately describe your offering. These customized templates can be saved and used in future campaigns.

Marketing materials and all client communication can be easily handled using the CRM’s mail merge and secure email functions. These tools allow you to send materials to the precise target audience with a minimum of effort, and to preserve client data security and confidentiality.

CRMs help you manage your marketing campaign

Some marketing campaigns are less effective than they could be because advisors lose interest, get busy with other activities or are frustrated by the amount of effort required to manage the campaign and do the follow-up. A good CRM for financial advisors can greatly increase advisor and staff efficiency, making the implementation of any marketing campaign easier and smoother—resulting in fewer headaches and increasing the likelihood that the promotion will be successful.

Activity Management
The easiest way to manage the roll-out of any marketing campaign is to use your CRM’s activity management features. These features allow you to create activities corresponding to every task that needs to be completed in order to ensure a successful campaign. Once an activity has been created, it can be assigned to the relevant staff member and a completion date can be set. When it is time for the activity to be completed the team member will receive an automatic reminder. At some point after activities are marked as completed the activity can be frozen creating a permanent audit trail for compliance purposes. 

When setting up a marketing campaign it’s best to first identify all the steps that must be completed to implement the campaign. Then set up activities for each, and assign them to the correct team member. The advisor can then track that activities are being completed as and when expected—ensuring a smooth and efficient roll-out.

Wrap up

A good CRM solution can help make all of your future marketing campaigns more effective. The segmentation, filter and opportunity tracking features enable you to precisely target the right audience. And the templates and email functions enable you to quickly and easily communicate your message to your prospects and clients. The activity tracking features ensure that you stay on track and that all the necessary steps are completed. Leaning heavily on a CRM built specifically for advisors is a great way to save time and effort—and to dramatically increase the success of your marketing efforts.


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