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A real problem with paid marketing channels is that they are generally unforgiving. If you launch a ppc campaign or pay for a mass mailout, you have to hit ROI first time round, and you do not get a second pass.
There’s inherent risk in any marketing strategy. But the most common marketing tools of ppc and buying data for mass emailing may carry more risk than another lesser-known strategy.
The most common way for IFAs to get new business is through referrals and approaching prospects via cold calling. The problem is referrals are not predictable. There are too many horror stories of referrals drying up and causing potentially deadly cash flow problems.
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