4th Installment of LinkedIn Tips for Financial Advisors
These business tips are action plans that will help you grow your business faster with less stress and less work. I have written them for service-based business owners such as financial advisors, RIAs, anyone making a living selling their knowledge and expertise. If this is not you, you can unsubscribe below.
This is the fourth in a series of 10 on How to Make The Most of Your LinkedIn Profile.
Reading time: Less than 2 minutes
Choose Your Target Market
Your next tip is deciding whom do you want to sell your services to. The instinctive answer is “anyone.” It goes against the grain to exclude any likely prospect.
However, you’ll do much better if you target your efforts to a specific group, called a target market or a niche. You may already have such a niche and are ahead of the game.
Here are some example of niches; small business owners, widowed or divorced women, University of Michigan professors, and anesthesiologists. Many advisors target people who are near retirement or recently retired, who have substantial assets.
I’m not evaluating or recommending any niche here. That’s beyond the scope of this post. However, if you’d like to learn more about finding a cash rich niche, you can read, “What You Need to Know about Niches”
A great feature of LinkedIn is its search function. It’s well worth upgrading to a paid account to have better search capabilities.
When deciding on your target market, a good test is to see if you can easily find them on LinkedIn Search. Another good way to test your target market is if you can find LinkedIn groups where they hang out.
Once you decided on a target market, revisit your headline and make reference to your target market.
For instance, you might be able to say something like, “I help plastic surgeons make sound financial plans and free up their time so they can focus on their careers.”
My headline at the moment is, “I help financial professionals get more profitable high net worth clients with less work and less stress.” I change my headline every month to see what it’s the most response.
Now that you know whom you want to sell to, you can start growing your private network of contacts, filling it with ideal prospects. We’ll talk about that next time.
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