In the internet age, many marketers might be more focused on digital marketing, local business internet marketing, and the likes. While we can’t blame them, offline marketing still has its place today. This is especially true for financial advisors.
There’s no harm in combining both to grow your business and reach your goals, however. Keep on reading to see what types of marketing strategies are effective for you.
1. Search Engine Optimization
The goal of search engine optimization (SEO) is to optimize your website in a way that allows it to climb the ranks in the search results.
The ultimate goal is to appear as the first search result, which receives 25% of all the clicks on Google. However, being on the first page is good enough as people don’t often venture into the second page.
The first page of Google gives you higher visibility. This gives you more traffic, leads, and new clients.
Using the right SEO strategy, you can also increase the authority of your website. This also increases your reputation as a financial advisor.
2. Content Marketing
Content marketing is a part of SEO, although it deserves its own place here. As a financial advisor, you want to appear trustworthy to prospects.
People usually judge a person’s character in personal meetings. But, how do you appear trustworthy on a website?
A well-made website can do the trick, but aside from that, your content is what matters. Through your blog, you can publish educational content that can establish your knowledge.
As you’ll look knowledgeable, people will tend to trust you more. You only have to make sure the content is well-researched and informational. Publish on a regular schedule, too, to increase loyal visitors who might then turn to clients.
3. PPC Marketing
PPC stands for pay-per-click, which is a type of advertising. For this, you’ll need a Google Ads account, where you can set up your ad campaigns.
Your PPC ads appear on top of the search engine results page, which is a prime spot for visibility. As the name implies, you only pay for each click. You don’t pay for the spot itself, but you have to pay for every click on your ad.
As a financial advisor, you can utilize PPC advertisements to generate new leads. Your ads will only show to keywords you target, so you can show your business to prospective clients. You will be able to reach them at their exact moment of need.
This works in tandem with a good SEO marketing strategy. After all, your ad should lead to a good landing page that can convert leads into clients.
4. Email Marketing
Email marketing is a great way to build relationships further with either a client or a prospect. If they’re subscribed, chances are they’re already interested in your services. You now have more chances to make them convert.
Email marketing is an advantage for you, too, in that it’s inexpensive. They’re fast to make and distribute, so the returns are incredible.
The key not only lies in creating eye-catching headlines and informational content. It lies in personalized emails, as well.
Personalization doesn’t end with saying, “Hi [FIRST NAME]” in your email. After all, it’s the standard with every email marketing strategy.
The key lies in knowing what your clients want and segmenting them. Create different versions of your newsletters for different demographics. You’ll come out on top.
5. Social Media Marketing
What’s important is to connect with your audience wherever they are. And, there’s no doubt they’re on social media.
Facebook has around two billion monthly active users, with YouTube follows closely behind. Instagram, TikTok, and Twitter among others are popular social media platforms, as well. While LinkedIn doesn’t publish its numbers, it’s also a good place to connect with professionals.
Make sure to choose the right platforms when creating your social media strategy. The goal is to increase brand recognition and reach more potential clients. You can also use it to provide more value to existing clients and build relationships.
Find out which platform your target audience is using. And then, create a powerful presence there.
6. Social Media Advertising
While you can market on social media for free, it’s worth looking into their advertising services, as well.
With paid ads, you can rely on the platform’s algorithms to bring you to your target audience. You can make them aware of your presence, which is the first step in marketing. Next come engagement and acquisition, which you can do on social media, as well.
It makes sense to spend some dollars to try to reach a broader audience. You can even engage with non-followers using ads.
7. Influencer Marketing
Influencer marketing is the use of social influencers to reach a large group of audience. In essence, it’s tapping into the audience of an influencer.
Many industries are already working with influencers, but do financial advisors need influencers, too? Well, you can make it work for you, too.
There are two important considerations here: the influencer and their audience. The important thing is to find an influencer whose audience is your target audience.
The catch is that the reputation of the influencer also affects yours. As such, choosing can be rather difficult.
This has the same effect as word-of-mouth marketing. People trust the influencers they follow, so they’ll likely trust their word, as well.
Everywhere you go allows you to meet new clients. Whether you’re out for a stroll or attending a conference, you should be ready for networking. It’s a necessary step in building your client base and cementing your reputation.
Being a financial advisor means you’ll have to do a lot of networking, so you’ll have to do a lot of talking. Practice your opening speech to all clients at home and with friends. Practice sounding natural.
Networking is uncomfortable for everyone involved, so it’s best if you don’t sound too rehearsed. Try your best to sound casual.
Make sure to ask questions, as well. Doing this can help you get to know them on a personal level, plus it turns the meeting into a dialogue, not a monologue.
9. Speaking Engagements
Speaking of speeches, it also helps to give formal talks now and then. This helps boost your credibility and position as a reputable financial advisor.
Public speaking is scary, we know, but it’s a great tool for finding new clients. Make a good first impression, and they’ll be sure to come back for more
This also applies not only to clients but to the organizations that are arranging the talks. They may even recommend you to others, further widening your reach. This is also important for local business marketing.
Talk about a related, interesting topic and keep the audience engaged. Encourage them to ask questions, make them participate, and more. Make sure they know your contact information, too, by including it in the handouts.
10. Word-of-Mouth Marketing
Referrals remain a vital part of marketing strategies for financial advisors. Regarding finance, people are always looking for input from family, friends, and trusted colleagues, now more so than ever.
Around 74% of consumers admit that referrals are a primary influencer. Trust is their primary driver in purchasing decisions. They’re more likely to trust you if their peers trust you, as well.
That said, your current clients must trust you enough to recommend you. Keeping them satisfied and providing excellent services are sure ways to earn you a referral, although giving incentives for it doesn’t hurt.
It will make them appreciate you more. Plus, they’ll be more motivated to refer you to their friends and family members.
11. Promotional Marketing
Incentivizing is also an example of promotional marketing. It’s a strategy designed to stimulate a purchase or any action towards a purchasing decision.
Another example is a contest. We all love getting something for free. As such, the prospect of winning something with minimal effort is very attractive.
This is why contests are a popular way of raising awareness and getting new clients.
Coupons or discounts are also a great way to build your client base. A good deal always awakens something fierce in consumers.
Cold-calling is still alive even today. Even if it’s not as effective as before, it can still be one of the most viable types of marketing for financial advisors.
You can say cold-calling is an art – if you don’t do it right, you’ll get a lot of cold shoulders instead. You first have to research your prospect to be able to provide value, create a speech to serve as a guideline, and stick to your goals.
Cold-calling has the potential to scare away a lot of customers, so you’ll have to be careful.
Learn More Types of Marketing for Financial Advisors
These types of marketing have long proven themselves to be winning strategies for financial advisors. No matter what you choose, though, you won’t get results if you don’t do them right.
You can learn more by reading a financial advisor magazine or contacting us. Talk to us today and let’s help you achieve growth.