Double Down on your marketing efforts in 2023

Double Down on your marketing efforts in 2023

An uncertain economy and a looming recession might not feel like the optimal environment for increasing your marketing, but there really is opportunity everywhere. The keys to success right now are understanding client needs and refining your messaging to address your clients’ concerns.


People have an emotional need to feel they have control over their financial future. In more economically stable periods they have confidence in their plans and generally do not feel the need to make changes.  Right now many people are thinking, “I need help! What can I do?”. Thus, why agents need to increase communication with their existing clients.

Focus on those pain points in your communication. This is particularly the case with clients already retired or nearing retirement.  They are likely to have a sense of urgency and will be looking to future-proof their retirement income. They are likely to be open to suggestions on solutions and products that will help ease their concerns.  

Tailoring your messaging to address this environment in this market is crucial.  It is an opportunity to demonstrate your value as an advisor and not simply a salesperson (while keeping an eye on that sale, of course!). Your in-person meetings and messaging should aim to help overcome anxieties by offering alternatives that offer a pathway to security. Client fears often go unspoken. Many people, particularly those with High Net Worth are reluctant to discuss financial uncertainty. Softer sales skills are needed here: Always look to empathize and demonstrate understanding of their situation. If possible, share examples and stories where you have been able to assist people in similar situations with the same concerns.   

This is also a time to do a little brand and reputation building.  Do not be afraid of soliciting recommendations in emails, and asking clients if friends and family are looking for other financial options. Look to use all your communications channels and social media for  recession oriented campaigns.  

This is not to suggest that marketing and selling in distressed times is easy. It likely requires more frequent touch points than in better times. However, stepping up your marketing and outreach right now is a strategic necessity for any advisors. The current situation demonstrates risk to your own business outcomes, so it is critical to work towards improving client outcomes in order to secure your own ongoing success.

Creating and maintaining appropriate messaging, demonstrating experience and know-how, and tailoring your advice to your clients’ individual needs will allow you to strengthen customer relationships.  Even in this tough economy producers can find new business and then be well positioned for when the good times roll around again. Your clients will look to you for advice then too.