4 Biggest Marketing Opportunities For RIAs Tied to the Bitcoin Craze
1. Getting Educated On Bitcoin
Not necessarily always getting invested in it, not pitching it, but simply being conversant. Clients will ask, and when they do if your practice is set up to have that conversation, you will win while others lose.
2. Be the Hero Your Clients Can Rely On
Share with your clients the research materials you’re reviewing to learn more about the trends in Bitcoin and share those with them via your newsletter, email, etc. This will help your clients feel a sense of security in that you’re putting forth an effort to educate yourself and thus educate your clients on different investment trends.
Tyrone says the goal is simple: Advisors need to look like a hero to their clients. And you don’t want to be unsure and uneducated on a topic your client asks you about. You should have good solid answers and at a minimum be responsible enough to tell your clients if you’re unsure and what you plan to do to help educate yourself and others.
3. Know Your Audience Demographics
Bitcoin tends to be a demographics play, most of Tyrone’s clients were under the age of 35 when he began and very tech-savvy. Many looked at it as something different than what others were investing in and they got it and understood the possibilities. Many tend to see it as a VC (venture capital) investment based on Tyrone’s experience in advising those in the start-up space. However, there are also younger Baby Boomers who understand the power of the internet and understand the possibility of something that can act as digital gold and they find that compelling.
4. The Best Marketing is Purpose
Purpose with strategy is unconquerable. Nothing is wasted if your efforts are purposeful. If advisors focus on the purpose of learning about Bitcoin and Cryptocurrency is “X” – whatever “X” is for you if you focus on that purpose you’ll be aligned.
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