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Digital Marketing For Financial Advisors Is The New Norm

In this digital era, a financial advisor's online presence is their one opportunity to make a great first impression and often their only chance to make a lasting impression. This is a compelling reason financial advisors need a competitive presence on the Internet that converts website visitors into qualified leads.


Get ready for 2024 with the right financial advisor marketing strategy! Connect with Paladin Digital Marketing today!

In today's digitally driven age, outbound marketing methods (cold calling, direct mail) are virtually obsolete. These invasive, out-of-date forms of marketing could have worked better, but they did produce enough leads that thousands of financial advisors used them for the past 60 years. 

Now, fast forward to the financial advisor digital marketing era. Investors have online access to extraordinary amounts of information about the advisors they are considering. Their top three applications are using the Internet to find financial advisors, learn more about the advisors, and follow advisors who are experts in their fields.

This type of Inbound Marketing creates a major opportunity for financial advisors who embrace the impact of the Internet for the following purposes:

  • Build online visibility so they are easy to find
  • Develop credibility and trust
  • Produce traffic for their websites
  • Promote websites that convert visitors into qualified leads
  • Nurture leads until they become revenue-producing clients

 At this point, it is evident that a strong online presence is no longer just an option—the impact of digital marketing makes it an absolute necessity. That’s because what investors see on the Internet impacts who they contact for interviews.

By integrating these aspects of digital marketing into their approach, financial advisors enhance their visibility and foster deeper trust and better engagement with investors who meet their requirements. A robust digital presence is the new gold standard in an industry where credibility and trust are everything.

In this article, we'll explore the five paramount reasons financial advisors must embrace the art and science of digital marketing.

Paladin: Digital marketing is the future. Just ask the lead generation companies.


Enhanced Marketing for Financial Advisors in the Digital Age

In 2023, almost two million investors will use the Internet to find, research, and contact financial advisors. And in the past two years, advisor searches from mobile devices have increased by 75%. These are two compelling reasons why financial advisors should embrace digital marketing.

You have seen how the Internet has impacted the marketing practices of other industries. It would be naive to think the Internet will not similarly impact the financial service industry - and it is just getting started.

Financial advisors and digital marketing agencies like Paladin are using data-driven marketing strategies to reach more investors on the Internet. Content marketing, social media, and email marketing are just three Inbound Marketing strategies they use to build online visibility, website traffic, credibility, and trust.


Building Online Credibility and Trust for Financial Advisors

Showcasing the expertise of financial advisors is a primary strategy for building online credibility and trust. There are several ways to accomplish that goal as long as the advisors are producing high-quality content:

  • Blog Articles
  • Guides (Pillar Pages)
  • eBooks (Free Offers)
  • Social Media
  • Email Marketing
  • Videos (Webinars)

A newer strategy for building credibility and trust, subject to compliance approval, is online ratings, reviews, testimonials, and case studies for actual clients. This is the validation some investors are seeking before they contact financial advisors. 


How Investors Research Financial Advisors on the Internet

It has been Paladin’s experience that 82% of investors using the Internet will visit the websites of financial advisors, and 64% will Google search their names. What they see online impacts who they will contact for appointments or information.

Don’t discount the investors’ need for information. They may be seeking information about a firm, a professional at the firm, or a financial topic. They may follow a firm for months until there is enough trust to give up their anonymity and initiate contact to schedule interviews.

An enhanced version of building digital connections is using chatbots, instant messaging, and AI-driven tools for immediate assistance. This is another way to prove you are an accessible, user-friendly professional.


How Digital Marketing Produces High-Quality Leads for Financial Advisors

Digital marketing leads are high quality for one simple reason: Investors have learned much about your firm before contacting you. It also stands to reason the more knowledgeable the investors, the more thorough their screening processes.  

Consider the following. There are two primary types of investors reaching out to financial advisors on the Internet:

  • One type is the first-time user seeking their first financial advisor. They will not be as thorough because they need experience working with financial advisors.
  • The other type is the repeat user - they have terminated an advisor and are seeking a replacement. They will be extremely cautious because they want to avoid repeating any mistakes.

The key to digital marketing success is mastering the art of engagement - that is, making personal online connections in a way that produces high-quality leads for your firm.

Those connections will become your primary source for high-quality leads.


How Financial Advisors Achieve Competitive Differentiation in a Crowded Market

One of the major digital marketing challenges for financial advisors is one or more differentiating characteristics that benefit investors. This is a challenge because a high percentage of independent RIAs market these frequently used features on their websites:

  • Independent boutiques
  • Financial fiduciaries
  • Experienced professionals
  • Fee-only or fee-based
  • Sources of planning and investment advice

Very little content describes what makes them different or better than the competition. 

Some of the more recent online content that is supposed to differentiate  advisors include:

  • Specialization by type of investor
  • Personalized services
  • Full transparency
  • Detailed descriptions of compensation (with/without a fee schedule)
  • Behavioral finance
  • AI, data-driven advice, and services
  • Active investment management

All of this reinforces the need for financial advisor websites that are cutting-edge and user-friendly, combined with Inbound Marketing that produces visibility, website traffic, and leads. 

Don’t want to be a look-alike financial advisor? Contact Paladin to schedule a convenient introductory call to discuss your alternatives.

  • Emphasizing the necessity for websites to be cutting-edge, user-friendly, and stand out among competitors.
  • Showcasing unique value propositions and leveraging analytics to optimize for user needs continually.


About Paladin

Paladin is a team of digital marketing professionals with more than 100 years of collective financial industry experience marketing our clients' services to individuals, institutions, and financial advisors. Paladin is a boutique agency that was founded in 2003 to provide game-changing digital marketing services to a limited number of firms and professionals in the financial service industry. Our services range from designing and developing custom websites to providing SEO, SEM, and Fractional CMO services. Want more information about our digital marketing services? Email your request to Paladin’s CMO: Jack@PaladinDigitalMarketing.com

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