9 Essential Marketing Tips
for Financial Advisors
As a financial advisor marketing your business should be your bread and butter. In a highly competitive ecosystem like the financial world, good marketing which includes the quality of your service could set you aside as a force to be reckoned with.
The goals of the good old fashion marketing strategies haven’t changed. While it is true that modernization has brought about an increase in multiple channels of marketing, the goal has always been to have a solid client base and a steady flow of qualified leads to be converted. Here are some essential marketing tips that could help you grow your business:
Marketing Practices to Start With
Certain marketing foundations must be properly set from the very onset of your financial advisor business, as these are the shoulders that your subsequent marketing campaigns would be built on.
Establish a Marketing Plan
You can never go wrong with proper planning, and this is true for your financial advisor business as well. First, you must establish what your marketing goals are and your desired results. Then you begin to brainstorm on what specific marketing strategies and campaigns are best suited for achieving your goals.
Know your Target Audience
Marketing is all about identifying the best product concept development services you could offer and knowing the specific audience that needs those services and will greatly benefit from them.
As a financial advisor, it might be tempting to target your marketing strategy at everyone because it affords a wide range of potential clients. But that is not what the masses are looking for. A potential client wants to be sure and trust that the solutions they need are tailored specifically for their problems. So, carve out a niche and offer your best services to your target audience.
Offline Marketing Strategies for Financial Advisors
Traditional marketing is not dead! and there are still plenty of effective marketing techniques in the offline world that could help your business get new leads and clients. Here are a few tips:
Get Referrals Through Introductions
You should adopt a culture of asking your clients if they have any family, friends, or business associates that could benefit from your services. Social gatherings are a good place for introductions because they seem to happen naturally in a casual atmosphere.
Many people do not appreciate being directly asked for a referral. Clients often feel uncomfortable and imposed upon when you ask for a referral. However, they will often gladly introduce you to someone they know.
Partake in Networking Events
Networking events are a good opportunity to interact with people and find prospective clients. Through networking events, you could align yourself with other professionals which could help boost your clientele.
If you’re good at public speaking, networking events like holding a free seminar could help call people’s attention to you. It could also contribute to building a brand for yourself.
Build Strategic Business Relationships
Cultivating centers of influence (COI) is a powerful marketing strategy. This strategy requires long-term devotion to cultivating useful relationships over time. Especially relationships with professionals like attorneys, mortgage brokers, and insurance agents.
The key to accumulating referrals from your strategic partnerships is to be referable and exceptional. The best way to achieve this is to regularly interact with each strategic partner to know about new developments in their business needs and those of their respective clients too. This enables you to find loopholes you could pounce on with your solutions.
Digital Marketing Strategies for Financial Advisors
With the online world comes a lot of opportunities for financial advisors to get their services in front of prospective clients. Here are some ideas on how to:
Make Sure You Have an Ideal Website
Your financial advisor website is the repository of all your online marketing strategies. It is where you ultimately want all your online prospects to end up. Therefore, it is crucial you make a solid first impression. It is expected that a financial advisor website is organized, efficient, and well designed.
Your professional website should contain information about your business that’ll convince people to take that next step of conversion. Key details like your professional credentials, range of services and their prices, and a call-to-action prompt should be readily available on your website.
Get Your Content Marketing Spot On
You cannot separate a good marketing plan from a well-crafted financial advisory content marketing strategy. Everything about digital marketing revolves around presenting the right content, at the right time, and to the right audience.
You need great content for several digital marketing channels like marketing emails, social media pages, campaign ads, etc. Your credibility as a financial advisor is enhanced by increasing the amount of relevant content you publish. Increased credibility builds trust which consequently leads to conversion.
You should also employ the use of SEO (search engine optimization) best practices to boost your visibility to your target audience.
Maximize The Power of Social Media Marketing
As a financial advisor, when it comes to connecting with your target audience and maintaining a meaningful relationship, social media is a powerful tool. Social media platforms like Facebook, LinkedIn and Twitter, and Quora are Ideal for running your social media campaigns.
It’s imperative to note that your social media marketing campaigns and the content posted on your social media profiles comply with the financial industry regulations.
Automate your Analysis
You can only improve what you can measure. Digital Marketing gives you access to several tools and platforms that allows you to track your marketing endeavors and what results they are generating. By installing Google Analytics on your site, you could get useful information like who visits your site, how they locate you, and conversion rate.
It’s All About Marketing
It’s all marketing – from the conception of your business to the quality of service to the marketing campaigns you run. If you are looking to get your services in front of your target audience, you should incorporate a couple of what have been discussed into your marketing strategy.
