In the good old days, most financial advisors relied on Outbound Marketing (cold calling, direct mail) to grow their businesses and generate new financial advisor leads. The foundation of this marketing strategy was that advisors had to initiate contact with investors.
In the past few years, Outbound Marketing became increasingly time-consuming and expensive, and at the same time, produced diminishing returns. You can blame Caller ID and Do Not Call lists for the decline in results.
There was also another issue. High-quality financial advisors hated Outbound Marketing. It was simply not a good use of their time or resources, in particular, when rejection rates approached 100 percent.
This is why the Internet is such a major game-changer for investors and higher-quality financial advisors. The Internet gives investors access to vast amounts of public data about advisors. And they can retain their anonymity while they find and research advisors on the Internet. They only talk to advisors who make it through their online screening processes.
This creates a major Inbound Marketing opportunity for financial advisors who figure out how to harness the power of the Internet and turn it into a source of leads for their firms or practices.
Why is Inbound Marketing so powerful? Investors initiate contact with advisors, which solves the biggest weakness of Outbound Marketing.
How do you take advantage of this major marketing opportunity? You have to know how investors use the Internet to find, research and contact financial advisors. The more you know about their process, the easier it will be to develop a strategy that makes sure they find you.
Once they find you on the Internet, they will visit your website. Your website has to deliver the right messaging and content to convert a visitor into a qualified lead for your advice and services. Conversely, if you do not deliver the right information, the visitors will exit your site in a matter of seconds.
We wrote “5 Steps for Selecting the Best Financial Advisor: How the Internet has Changed the Game for Investors and Financial Advisors,” for investors. It teaches them how to use the Internet to find you and learn more about you before they initiate contact.
The book, which was released on April 23, also serves as a great resource for financial advisors who want to use Inbound Marketing to grow their business or practices. Once you know how investors use the Internet, you can use that knowledge to develop a strategy that brings them to your website and converts them into prospects and clients.
Pick up a copy of “5 Steps for Selecting the Best Financial Advisor: How the Internet has Changed the Game for Investors and Financial Advisors,” and start attracting more clients today.
We are passionate about helping investors select the best financial advisors; we have been doing that since 2003 when our first book was published: “Who’s Watching Your Money?”
We are equally passionate about helping high-quality financial advisors be successful in the digital age. After all, the core purpose of this book is to connect investors to the best advisors. Investors will use the Internet to find you.
I co-authored this book with longtime Registry member Jonathan Dash. While I represented the interests of consumers, Jonathan represented the interests of high-quality financial advisors who use Inbound Marketing to grow their businesses.
“5 Steps for Selecting the Best Financial Advisor” is now available on Amazon, and for the first week only, you can buy the Kindle version for just 99 cents! After April 27, standard prices will apply. Soft-cover, hard-cover and audio versions are also available.
If you decide to buy the book, please rate it and give us a review on Amazon.