Across the industry, annuity sales are down. Workshops, radio, TV — attendance and engagement are down, too. Many advisors are feeling the pinch as traditional marketing efforts just aren’t producing like they used to. The reasons vary — market cycles, economic uncertainty, client hesitation — but the bottom line is clear: relying on a single channel is no longer enough.
Diversification Isn’t Just for Portfolios
Your clients know the importance of diversifying their investments. The same principle applies to your business. If annuities (or any single product) are the cornerstone of your revenue, now is the time to broaden your approach.
Successful firms are running 15–20 different marketing initiatives at any given time. These include:
- Educational seminars & webinars
- Podcasts, reels, and vignettes
- Social media across X, LinkedIn, Facebook, and Instagram
- Referral events, family nights, and charity gatherings
- Newsletters, hard letters, and ongoing client appreciation
This broad mix ensures that when one channel slows down, others continue to generate results.
Social Media: A Silent Rainmaker
Nearly 20% of revenue in some practices now comes from a consistent social media presence. Short-form reels, client vignettes, and regular postings don’t just create visibility — they convert. Even a modest flow of three new appointments a week adds up to significant revenue over time.
Don’t Let Prospects Go Cold
Your prospect list is another goldmine many advisors neglect. These are people who showed interest but didn’t commit — often because the timing wasn’t right, not because they weren’t a good fit. By continuing to drip on them (digitally and through traditional mail), you stay top of mind until they’re ready.
One firm turned “no’s” into nine new clients — averaging $1.6M in assets each — just by maintaining ongoing touchpoints. That translated into over $400K in revenue that would have been lost otherwise.
The Takeaway
Marketing is cyclical. What works today may not work tomorrow. The key to building a resilient advisory business is diversification — just as you tell your clients. If you don’t already have multiple irons in the fire, it’s time to start.
