Should Financial Advisors Use Outbound Marketing For Leads?
There is no doubt that Inbound Marketing is effective at generating new financial advisor leads. With the Internet so much a part of consumerism today, there are many online opportunities for incorporating Inbound Marketing.
In a world bombarded with in-your-face advertising, Inbound Marketing is a non-intrusive approach that appeals to today’s investors who want to choose when and how they get information. But does this mean the old ways of Outbound Marketing have gone by the wayside?
Find out where advisors are putting their marketing dollars to generate the most viable leads:
Outbound Marketing--The Old Method
Outbound Marketing refers to the types of mass advertising that are delivered to a vast audience, regardless of whether or not they expressed interest. Thirty years ago, Outbound Marketing techniques such as commercials, direct mailers, and telemarketing could get more attention. Back then, audiences would have to wait during ad interruptions and they could notice messages in the less-saturated marketplace.
Today, the competition for consumer attention is fierce and as a result, consumers are tuning out. People no longer have to pay attention to ads or cold calls in order to solve their needs.
In fact, households are requesting to be placed on do-not-contact lists and choosing programming without ads. Even in the old days, Outbound Marketing had low success when compared to the costs. Rejection rates are always notoriously high for cold calling and expensive direct mail campaigns but until now, advisors did not have many other options.
Outbound Sales Tactics:
- TV/Radio Commercials
- Print Advertising
- Outdoor Ads
- Mass Direct Mail
- Telemarketing & Cold Calling
Inbound Marketing--A New Approach
Rather than a sales message that interrupts which can be intrusive or too aggressive, the focus of Inbound Marketing is to help consumers who are hungry for information. The best place to do this is online where the consumer decides when and how they view the content they are interested in.
This is the beauty of Inbound Marketing. In a nutshell, financial advisors supply relevant content and offers so the audience can find what they need when they need it. Firms must also ensure they are easy to find online with Digital Marketing strategies.
Once the leads have found you, a free resource or tool is typically offered in exchange for contact information. This gives Advisors a way to keep in touch with interested leads down the road. As the success of Inbound Marketing becomes evident, it is no wonder that financial advisors are embracing this most effective method for generating leads with the help of Digital Marketing.
Inbound Marketing Methods:
- Custom Content
- Blog Articles
- Search Engine Optimization
- Strategic Web Design
- Video Links
- Social Media Campaigns
Inbound Marketing Vs Outbound--What Is Different?
The main differentiation of Outbound Marketing is that it blankets unsolicited advertising. On the other hand, Inbound Marketing lets interested prospects navigate their own way to the information they want while they engage with your brand. An additional point can be made that Inbound content can attract leads long after it is created while Outbound campaigns have a shorter lifespan due to the high costs for each paid placement.
One more difference is that Inbound Marketing focuses on informing, rather than selling. Messages developed for Inbound content are created with the intention of helping to educate buyers so they can solve problems and make informed decisions.
The Right Mix
If your firm still uses certain Outbound strategies, consider how these channels can actually promote your Inbound Marketing and lead generation. Traditional marketing materials can, and should, encourage viewers to visit your website to learn more. Old fashioned Direct Mail could be used to get the word out about your latest news and offerings online. Recipients of mailers can even be given an incentive when they check out your firm’s website and subscribe to your newsletter or follow social media posts.
Get In The Game
We know that prospects are looking for answers to their financial questions online. These consumers are also looking to connect with your brand in some way, which is especially true in the financial industry. Browsers want to discover a firm that instills confidence and an advisor they can count on for expertise. Your Inbound Marketing and online presence will help your viewers form a great impression of your firm. Browsers want your website to be modern and easy to navigate. Prospects want online content that demonstrates knowledge of emerging trends and a passion for the industry.
Your Portfolio, Case Studies, and Client List will all work together to help browsers get to know you and feel connected. When you shine online and are strategic about your Inbound Marketing it will not only elevate your name and brand, it will also generate leads and convert visitors into clients.
Keep In Touch
In the world of Financial Advising, there really are no bad leads. There are only leads that are ready to come on board, and leads that are not quite ready. This is why it is so important to nurture your prospect lists by reaching out regularly with new and valuable information. Digital Marketing makes this easy.
Nurturing leads by keeping in touch with more relevant information down the line, is key in this industry where building your reputation goes hand in hand with earning loyal investors. Inbound Marketing offers lots of online opportunities for paving a path of information for interested prospects to find while they become informed and connected to your brand. With the help of Digital Marketing, this Inbound journey leads to the conversion of prospects into your next satisfied investors.
Let The Leads In
Even with the benefits stacked up in favor of Inbound Marketing, implementing an effective plan can take the kind of time and know-how your firm may not have. This is why many Financial Advisors enlist the help of a Digital Marketing expert.
To ensure vital lead generation for your firm, partnering with an expert can make all the difference. A company with an exclusive focus on helping Financial Advisors is Paladin Digital Marketing. Having someone in your corner that knows how to optimize Inbound Marketing specific to Advisors, will produce measurable results for your firm. With years of expertise, an arsenal of advanced tools, and a full staff of specialists working for your firm--you will see more leads and benefit from impressive returns.