For today’s modern financial advisors, there should be no doubts about the importance of having a strong online presence across multiple channels. This also includes an effective SEO strategy and an effective marketing strategy featuring high-quality financial advisor content.
There are also additional ways financial advisors can gain visibility online and grow their financial advisor firm’s reputation and brand recognition. One of those strategies is the use of paid advertising campaigns for super-competitive keywords on Google.
Keep visitors on your website longer. Learn how by connecting with Paladin Digital Marketing today!
The question many financial advisors are asking is whether or not it is worth the expense. Will they be rewarded with new investor engagements? The “it factor” is the time, effort, and cost of running a series of Google paid ad campaigns. And while the answer to that varies by financial advisor firm and their value propositions, the answer is most often a resounding “yes.”
Following are some reasons why Google paid advertising campaigns are widely considered a worthwhile marketing endeavor for financial advisors who want to grow their firms and awareness for their brands.
Organic SEO vs. Paid Google Ads
SEO (Search Engine Optimization)impacts how your financial advisor website ranks organically You have to earn your way to page one ranks, but there is no cost when an investor clicks on your website or content. SEO should be considered a longer-term marketing strategy because it takes time to build the online visibility that produces significant amounts of website traffic. In fact you may have to rank for hundreds of keywords to get the traffic you are seeking.
High-quality content and optimized websites give Google’s algorithms reasons to rank your financial advisor website higher than other, similar sites that generate low-quality content.
On the other hand, paid advertising on Google is a way of “skipping to the head of the line” by showing up at the top of page page) by paying for placement at the top of page one rather than taking the time to work your way up using SEO content that is being evaluated and ranked by Google algorithms.
Following are some additional advantages of paid advertising on Google:
Flexibility
One of the biggest advantages of digital advertising over traditional advertising channels is the ability to customize all aspects of an advertising campaign as well as make changes quickly. This includes changes to the budget, timeframe, the creative elements, and the audiences.
Budget Friendly
Google paid ads aren’t just for high-dollar financial advisor marketing campaigns. Even financial advisors with limited budgets can take advantage of this advertising platform. By scaling your financial advisor ad campaign to your budget, you are still able to have a presence and not leave all of the top paid search results to your competitors.
By using the Google paid ads platform, you’re not locked into any sales contracts or long-term commitments. You can pay for results and change or stop specific campaigns at any time.
Google’s Tools and Resources
Always striving for the best content and experience for users, Google offers many tools to help financial advisors optimize their online presence and search rankings. And when it comes to paid ads, there is even more support to help make your financial advisor Google paid ads a success. These tools include keyword planning, refinement tools, bid and budget management tools, and even tools that can help you design and create ad content.
Performance Metrics
With close to real-time reporting, Google makes it easier than ever to monitor your paid financial advisor advertising campaigns. Additionally, the platform will offer recommendations and ways to optimize your content and targeting, as well as bidding and budget.
Pro Tip: While these recommendations can be extremely helpful, they may not always be the right choice for your financial advisor advertising campaign goals or budget. For example, you want to reach investors with larger asset amounts (millions) or particular financial situations (pre-retirees).
Google wants to see your ads perform, as well as possible, so you will continue to advertise on its platform. It is motivated to help you optimize the performance of your online advertising campaigns. For example, what is the economic value of a new lead with $500,000 to invest over a period of five years? The answer could be $25,000 to $50,000 depending on appreciation and reinvested income. Now, what did it cost to produce the lead?
Targeting
Given that Google retains massive amounts of data about its users and their search parameters, it stands to reason that all of that data can be refined for use by Google users. Data mining is just one way Google can improve financial advisor results. It should be no surprise that intent as well as geographic and demographic data can improve the advertising results of financial advisors. ]This is especially useful when you want one type of financial advisor advertising to be shown to a particular type of investor - for example, a business owner who is selling and retiring. How else can you reach larger numbers of investors with these characteristics?
See Faster Results Vs. Organic SEO Alone
It’s no secret that building an effective organic SEO strategy that produces results takes time. And it can take even longer to see the results of these marketing efforts. However, that doesn’t mean that paying for Google Ads is always a faster alternative than SEO. Think of your financial advisor SEO strategy as the foundation for a successful digital marketing strategy.
Google’s paid ads will offer faster exposure for competitive keywords but are only visible when campaigns are up and running. So, unless your budget allows for broader exposure, it’s better to use paid ads as a supplement to a productive SEO strategy.
Bonus: Tips for Getting Started with Google Paid Ads
Get Your Financial Advisor Website Ready
If you plan on having guests over to your home for dinner, you’re probably going to do some tidying up. And the same is true for your financial advisor website when you’re expecting extra “visitors.” Before starting a Google paid ads campaign, take the time to give your financial advisor website a once-over.
It also helps if you look at your content through the eyes of investors. Does it solve financial problems for large numbers of investors. Is your website easy to navigate? Do images load quickly? Is the overall experience seamless? Does your website deliver the right information? Are you practicing transparency so investors trust you? If all of these answers aren’t an emphatic “yes,” then it’s time to clean up a bit before having company.
Quality Still Matters
In some advertising channels, paid advertising can often get by with being at the low end of the quality range. However, that’s not the case when financial advisors advertise on Google. Even when advertisers are paying to rank higher in search results, Google still prioritizes the most relevant and accurate content amongst those advertisers competing for the same audience.
In other words, don’t skimp on content quality simply because it’s paid. Google can (and will) choose to serve someone else’s ads instead if they have a better fit for the specifics of particular searches.
Want to learn more about paid advertising campaigns and SEO? Contact us to schedule an introductory call.
