One of the biggest marketing mistakes for financial advisors is not having a solid marketing plan. This can lead to “sampling” marketing tactics without any direction or strategy, which in most cases will lead to an unsuccessful campaign. For some financial advisors, this can leave a bad impression, and they may never try it again.
But what if the problem wasn’t the marketing itself but the lack of an overall plan? Your financial advisor digital marketing efforts should be cohesive and consistent, not sporadic and disjointed. Here are some financial advisor strategies that are proven to get results when used as part of an overall marketing plan.
This article will help you understand why these ten areas of digital marketing should be integrated into your efforts moving forward:
- Content
- Leads
- Automation
- Personalization
- Semantic search
- Niche
- Stay in touch
- Consistency and branding
- Community
- Hire qualified help
Why is content critical for financial advisors?
The importance of original content cannot be overstated, especially when it comes to digital marketing. Consumers are used to finding what they need online, exactly when they need it. And if you aren’t creating and sharing the financial advisor content they’re looking for, they will find it elsewhere.
Your financial advisor content can set you apart from the competition and establish your financial advisor firm as a trusted resource for financial information and resources. Without content, it won’t matter how many people visit your website if they’re not finding what they need because they won’t stay long and they won’t be back.
Why are lead forms necessary for financial advisors?
There’s no reason not to collect lead data at any opportunity. Many financial advisors don’t take advantage of opportunities to put full access to in-depth content behind a lead form with contact information and permission to email them. The key is to know which types of content to “gate.”
There’s no set rule, but generally, it’s considered bad form to gate a small, superficial piece of content such as a blog post. If, however, you have an in-depth eBook, it’s entirely reasonable to ask visitors to exchange their contact information for access to the resource. In fact, many consumers expect this tradeoff and won’t mind if they feel the content is worth it.
How can marketing automation help financial advisory firms?
We’ve all heard the phrase “work smarter, not harder,” and marketing automation is an example. No matter the size of your firm, many marketing platforms offer scalable automation tools that can take over some of the manual tasks that previously took time from your schedule or perhaps weren’t getting done at all.
Some examples include: sales funnel marketing, onboarding efforts, client retention, and social media efforts, to name just a few.
Why does personalization matter?
Today’s consumers know that marketers know a lot about them. In fact, many consumers expect marketers to use that information to personalize their interaction with a website or business. This can be as basic as a personalized greeting in an email to retargeting ads that can “follow” website visitors to other online locations.
Regardless of the level of personalization your financial advisor firm engages in, the content and general message should not sound generic to your audience. In other words: make it you! People want to see personality in your information, which helps make you more relatable.
What is semantic search?
There’s been a lot of chatter in the search marketing space about Google’s Semantic Search and what it means for digital marketing and SEO (search engine optimization) practices overall. Semantic search takes traditional searches a step further by not just returning results that match what was typed or said into the search bar but rather what the user's “intent” was. This type of searching is becoming more prevalent as people are searching more than ever on mobile devices and speaking their searches rather than typing them.
But how can financial advisors shift their marketing efforts to get the best results?
The key is to consider semantic search when crafting an SEO strategy. While the single “keyword” isn’t completely obsolete, it’s no longer the most crucial part of an SEO strategy. Instead, the focus is more on how people speak when asking questions about financial advising products and services.
Have you found your niche?
With this plethora of information widely accessible, it’s easy for your financial advisor firm to get lost in the mix. To prevent being seen as one of the same, highlight what your financial advisory firm does best and lean into it. This strategy comes down to crafting content that appeals to those in your target audience based on the niche you have embraced.
Why it’s essential to stay in touch with your clients
Current clients and prospective clients alike will have more confidence in their financial advisor (or prospective financial advisor) if they feel connected. By reaching out with information, advice, market updates, etc., you can stay in touch in a way that doesn’t feel intrusive. The key to this strategy is to avoid a “salesy” approach that can turn off potential clients.
Why financial advisors need consistent branding and messaging
If someone sees your financial advisor firm’s online assets, they should always see consistent branding and messaging. Remember, most consumers need to see a message or interact with a brand multiple times before taking the next step, such as scheduling a meeting or giving up their contact information. Without consistency, you risk wasting interactions where your financial advisor firm won’t be recognized even if they have been exposed to your brand.
The more your ideal client sees your consistent brand and message, the more they will start identifying you as a viable resource for financial services. And since consumer behavior is shifting, it pays to ensure they know precisely how you are, what you do, and how to find the help they need.
Why financial advisors should embrace the community
While the world has become a smaller place with advancements in technology and communications, another trend has emerged for consumers to “shop local” and support businesses in their communities. This is especially true for younger generations, such as Gen Z and Millennials. Financial advisors with a local presence have a leg up on bigger, national firms that don’t have local origins.
Know when to call for help from a digital marketing firm that works with financial advisors specifically
When all is said and done, financial advisors need to prioritize their time and decide if it’s time to call for digital marketing support. By enlisting the help of a digital marketing agency, you can keep your commitment to clients while also maintaining a presence for both current and prospective clients.
Download our free eBook about how to make your RIA website convert visitors into qualified leads.
The good news is that you can choose the level of involvement needed from your digital marketing partners and adjust as needed over time.
Why wait? Connect with our team at PDM today!
