The internet is a massive digital landscape where businesses of all kinds are all looking for ways to get in front of their prospective clients, especially when it comes to online searches. For financial advisors looking to gain new clients, online search is a great tool. But because the Internet is so vast, it can be a challenge to rise to the top of relevant search queries, even with the best organic SEO strategy in place.
Sometimes a paid campaign is required, such as PPC (Pay Per Click) to gain a competitive edge and grow your financial advisor client base. Paid advertising can be a cost-effective means if leveraged properly, especially for advisors with limited marketing funds and time to execute digital marketing campaigns.Read on for more information on how financial advisors can use PPC to gain new clients. This article covers:
- How PPC works
- Elements of PPC ads
- How PPC can be effective for financial advisor digital marketing
How does PPC marketing for financial advisors work?
As the name implies, PPC is a form of paid advertising where the advertiser only pays when an ad is clicked. PPC search ads are shown at the top of the SERPs (Search Engine Results Pages), giving your financial advisor ads prominent positioning during relevant search queries. This is much different than traditional paid advertising (like banner ads) where you’re paying a determined amount of money regardless of how many clicks you get.
While there are advantages of both types of digital marketing for financial advisors, PPC is a good option for those seeking quick results to increase traffic to their financial advisor website. Why? PPC advertising works faster than organic SEO and traditional digital marketing because advertisers are paying for top placement, rather than “earning it.”
Yes, Google does still have requirements and rules for PPC advertising. In short, these efforts do not require the same amount of credibility and trustworthiness to appear on page #1 as organic SEO does. While it’s possible to make it to the top of organic results without paying for clicks, it will take time and effort to achieve.
Note: That doesn’t mean that organic SEO should be ignored, but rather used in conjunction with PPC marketing for financial advisors to create an even stronger presence in search results overall. Thus, your financial advisor website reputation with Google can be enhanced simultaneously.
It’s also important to note that while PPC advertising is known for quick activation once approved by Google, when the ads are turned off, the traffic will cease. Having strong organic SEO can fill in the gaps between PPC campaigns, as they might prove too costly for financial advisor firms to run constantly.
What are the elements of PPC search ads?
Keywords
PPC advertising revolves around keywords. Advertisers choose keywords or phrases where they want to show up in search results. Choosing the right keywords is a critical part of a PPC search campaign, since choosing the wrong ones could cost you more of your budget with less return.
However, keywords can be tricky—there is often a learning curve to find the right balance.
- Too specific and you won’t appear in many searches
- Too general and you’ll be competing with firms with undoubtedly larger PPC budgets
Bid
Due to the competition for the PPC top search results, advertisers bid for these placements like an auction—the highest bidder “wins” that placement. Advertisers enter a maximum bid when setting up a PPC ads campaign, and their ads won’t display if they are outbid. There’s also a learning curve when it comes to knowing how much to bid on any given keyword.
Advisors can explore strategies for PPC bidding, which usually involve analyzing and adjusting bid amounts during the course of the campaign to find the optimal bid amount for those keywords. Of course, if you’re a focused advisor and busy supporting clients, find the best digital marketing agency for your RIA to take on these efforts for you.
Landing page
Where you send those who clicked on your financial advisor PPC ads is just as important as the ad copy and keywords you used to get them there. The landing page should be relevant to the ad content and keywords; otherwise, the user who clicked it will likely not find what they need and leave quickly. This results in:
- A higher bounce rate
- Wasted money
- Damaged organic SEO
Ad copy/CTA
While PPC marketing for financial advisors can get you to the top of the search results — making your financial advisor ads more visible, a strong headline and CTA is essential. By crafting ad copy that’s relevant to those keywords and strong headlines with clear CTAs, you’re giving your PPC campaign the best chance at success.
Is PPC effective for financial advisors?
Rank higher than your competition
If your financial advisor firm is utilizing paid advertising, and your competition isn’t, you can outrank them no matter how high they’re ranking in the organic results.
Quality leads over organic search
Because PPC ads are bidding on specific keywords and phrases, there is a higher level of user intent. This means your PPC ads are being shown to an audience with a higher likelihood of clicking on them and visiting your financial advisor website. This can ultimately lead to client growth at a higher rate than organic SEO alone.
PPC ads can help with brand recognition since your ad may appear to the same user multiple times. The best part about that is you don’t pay for impressions (the number of times your ad is shown), so there are times when you’re getting in front of your target audience for no extra cost.
The Takeaway
- While PPC advertising is known for achieving faster results, your financial advisor ads only play when you pay—turn them off and the traffic stops.
- Strong organic SEO can fill in the gaps between PPC campaigns, as they will likely prove too costly for financial advisor firms to run constantly.
- Work with a digital marketing partner to get ahead in the game.
