This blog post focuses on “how” financial advisors use the Internet and digital marketing to generate new leads for their advice and services. But first, let’s discuss why advisors use the Internet to produce leads in the first place.
The Internet is where potential clients go to:
- Find financial advisors
- Screen financial advisors (firms, professionals)
- Initiate contact with financial advisors
They can do all three and maintain their anonymity while they do it.
Paladin: Therein lies the reason financial advisors market their services online. That is where investors go to find, screen, and contact advisors.
We will cover the following topics in this blog post:
- How do investors find financial advisors on the Internet?
- What information do investors seek when they use the Internet to screen financial advisors?
- How does the Internet build credibility and trust?
- How do financial advisors get investors to their websites?
- What motivates investors to contact certain financial advisors?
How do investors find financial advisors on the Internet?
There is no debate that the Internet has significantly simplified the process of investors finding financial advisors. Those who have a particular advisor in mind, due to a previous engagement or referral simply type the name or website URL into the search bar. This is a straightforward way to connect with a financial advisor that they're familiar with. In this case, their prior knowledge and the advisor's reputation are pivotal in their selection processes.
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However, when investors do not have a specific advisor in mind, the process becomes more involved. They may resort to search engines like Google using a combination of keywords to find financial advisors in their communities. Keywords could include phrases like "best financial advisors in Dallas," "financial planning services," or more specific terms related to their unique financial needs such as "retirement planning for pending retirees" or "find a CFP in North Dallas."
This is where brand awareness significantly impacts an advisor's digital footprint. The higher a financial advisor's brand awareness, the more likely they are to rank on page one in search engine results. The process of improving this ranking, known as Search Engine Optimization (SEO), involves the strategic use of keywords, quality content creation, and establishing a robust digital presence across multiple platforms.
Ultimately, the Internet has opened up a world of opportunities for investors to find, screen, and contact financial advisors. By leveraging search engines and capitalizing on brand awareness, financial advisors can reach a wider audience and potential clients can find a service that meets their specific needs. The digital landscape is ever-evolving, and as it continues to grow, so too will the strategies to connect investors and financial advisors.
What information do investors seek when they use the Internet to screen financial advisors?
When investors use the internet to screen potential financial advisors, the first critical element they look for is their types of services. They want to make sure the advisor provides the services they are seeking. This could encompass everything from retirement planning, tax planning, estate planning, risk management, to investment advice.
It's crucial that the advisor offers a broad, holistic approach to finance, rather than focusing on a single area, unless the investor has a very specific need. Investors also pay attention to the advisor's approach to managing investments, in addition to their pricing structure and transparency regarding fees.
Investors also seek specialized knowledge and a history of success with clients with similar circumstances, needs, and goals. For instance, if an investor is a small business owner, they might seek an advisor who specializes in business owners and understands the specific challenges they face. The investors want an assurance that the advisor can empathize with their unique situation and provide tailored, effective solutions. Customer testimonials, case studies, or published insights can provide evidence of their expertise.
Although it is tough to prove, investors look for signs of trustworthiness and integrity. In the financial world, trust is paramount, so investors will look for clear signs of ethical conduct. They may look into the advisor's certifications (like CFP, CFA, etc.), check if they are registered with relevant regulatory bodies, and look for any red flags in their history such as legal issues or complaints.
Investors may also look at the advisor's communication style, looking for openness, honesty, and transparency, all of which contribute to building a trusting relationship. Ultimately, they want an advisor who will put their interests first (financial fiduciaries) and maintain a high standard of professional ethics.
How does the Internet build credibility and trust?
The Internet, by its very nature, is a multi-faceted system. In this space, establishing credibility and trust requires a sophisticated nurturing process. Financial advisors build trust through expertise, consistent delivery of quality information, and maintaining open lines of communication. Similarly, the Internet necessitates demonstrating expertise, consistently providing quality content, and an interactive, responsive approach to user engagement.
Paladin: Investors have to learn to trust financial advisors.
One of the most important ways to establish trust on the Internet is through transparency. Websites can showcase this by disclosing authoritative and accurate information, much like financial advisors may do with their clients. Plus, reviews, recommendations, and acknowledgments from other respected entities can also serve as public affirmations of credibility and trust. This is akin to how clients might seek the advice of financial advisors who have proven track records or come highly recommended by peers.
Just as in a financial advisory setting, nurturing relationships is paramount for trust-building on the Internet. This involves consistent and personalized communication with users, respecting their privacy, and meeting their needs. It could be through newsletters, personalized recommendations, responsive customer service, or regular updates about changes and improvements.
Despite all these efforts, skepticism remains a natural response in the digital realm, just as investors may have doubts when dealing with financial matters. Addressing this skepticism requires transparency and accountability. It's important to openly acknowledge mistakes, provide clear terms and conditions, and ensure secure and ethical data handling practices. Just like a trusted financial advisor, a credible internet service presence must put its users' interests first and work continually to earn and maintain their trust.
How do financial advisors get investors to their websites?
Financial advisors can attract investors to their websites by leveraging various strategies to create compelling and engaging content. Firstly, they can develop a strong online presence through search engine optimization (SEO) techniques. Financial advisors can increase their visibility in search engine results by optimizing their websites with relevant keywords and creating high-quality content that addresses investors’ needs and concerns. This way, investors are more likely to find the advisor’s website when they search for financial advice or related topics.
In addition, financial advisors can utilize social media platforms to share valuable insights, educational resources, and market updates. By establishing themselves as trusted thought leaders in the industry, advisors can build credibility and attract investors who are seeking reliable information. Engaging social media posts can also pique investors' interest and encourage them to visit the advisor's website for more detailed information and services.
Furthermore, offering specialized services or unique investment strategies can entice investors to explore a financial advisor's website. By highlighting their expertise in a particular niche or showcasing their track record for financial advice, financial advisors can differentiate themselves from competitors and capture investors' attention. Demonstrating the potential benefits and returns of working with the advisor can create a sense of urgency and motivate investors to visit the website to learn more and potentially take action.
Lastly, providing interactive tools or resources on the website, such as financial calculators, portfolio trackers, or personalized investment assessments, can entice some investors. These tools offer practical value and allow investors to assess their financial situations or explore potential investment opportunities. Financial advisors can create a personalized and interactive experience that compels investors to visit their websites for further engagement by offering such tools.
What do investors have to see before they are motivated to contact certain financial advisors?
Investors generally have specific needs, investment objectives, and risk tolerances that they want to be addressed by financial advisors. Before reaching out to a financial advisor, they want to make sure the advisor provides the particular services they require. For instance, some investors may be looking for retirement planning, others may want tax-efficient investment strategies, while others may require comprehensive wealth management. Therefore, an advisor's ability to meet these specific needs, as demonstrated by their service offerings (What We Do) and professional background, can motivate many potential clients.
Furthermore, investors often want to feel understood and catered to, and thus tend to gravitate towards advisors who have experience working with similar clients. This similarity could be in terms of wealth, career, lifestyle, or financial goals. An advisor who understands the nuances of a particular profession or industry, or has extensive experience dealing with certain types of investments, can bring in-depth knowledge and a personalized approach that is highly attractive to potential clients.
In addition to these criteria, investors may seek advisors with a high level of expertise in their field. Certifications, years of experience, academic qualifications, and industry recognition can all signify an advisor's unique expertise. Investors generally prefer advisors with references that document results, assuring them that their assets are in capable hands.
Trustworthiness is another critical factor that potential clients consider before contacting a financial advisor. Trust is crucial in a relationship that involves handling other people’s money and making significant financial decisions. To gauge trustworthiness, potential clients may look at an advisor's reputation within the industry, client testimonials, and any potential red flags such as past disciplinary actions. Furthermore, they may also prefer advisors who adhere to a fiduciary standard, putting the client's interest first.
Paladin: The perception of an advisor's trustworthiness can be pivotal in an investor's selection-making process.
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 .
