There is very tough competition among financial advisors. But in this digital age, the market is presenting huge opportunities for more financial advisors to join the ranks. To stand out from the crowd and come out on top, digital marketing for financial advisors is the best cost-effective solution.
Digital marketing for financial advisors equips your business with tools and techniques that give you a competitive edge in your niche and drive business growth.
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What is Digital Marketing?
Digital marketing is commonly called online marketing. It is the promotion of brands, companies, or businesses to connect with prospective customers using the internet and other forms of digital communication.
The digital platforms may be social media, web-based advertising, email marketing, content marketing, etc.
Importance of Digital Marketing is for Financial Advisors
Every financial advisor firm wants to grow its business. It is very much possible that you may get lost among your competition in this digital age. This is the reason why digital marketing is becoming the first choice for financial advisors.
If you are not visible online means you are losing your clients. It is a common tendency that people visit your website, social media pages, reviews, and testimonials to decide to go for your services or not. If they don’t find you anywhere or not having a very strong online presence then people won’t trust you.
Now, it is high time to understand the importance of digital marketing, if you own a financial services company or firm.
Benefits of Digital Marketing for Financial Advisors
There are several benefits of digital marketing for financial advisors. Let me mention a few of them below:
1.Your potential clients find your company easily when they need financial services.
2.Build and enhance your brand awareness and online presence.
3. Improves your lead generation efforts.
4. Build trust with your financial customers.
5. Makes it easy to reach your customers through the communication channels they use most.
6. Has a predictable and measurable means to grow your business.
7. Easy way to promote your various financial services.
8. Able to assess return on investment and the impact of your digital marketing efforts.
Powerful Digital Marketing Strategies for Financial Advisors
When it comes the digital marketing for financial advisors, the right strategies are very important. Let me explain the most powerful strategies that can bring your extraordinary results below:
You must have an attractive professional website. A website is your online storefront. A website is necessary for every business in this digital era.
You must make sure that the information on your homepage is up to date, clear, and engaging. There are other basic pages on the website which includes:
- About Page: It must share a bit of background information about your company.
- Team Page: It must introduce your core team members, partners, and support staff.
- Services Page: This page outlines details about your services for your clients.
- Contact Page: This page contains information about your contact details.
- Blog Page: This page contains blog posts, announcements, and resources for potential and existing clients. This page is vital for the SEO of your website.
These pages will not only help your audience but also let you rank on Google. Also to keep in mind that your domain name must represent your brand name. One thing that most people ignore is hosting. Don’t ever compromise on hosting. Good hosting is the base of your website.
Search Engine Optimisation (SEO)
SEO is a very commonly heard term. Still, people don’t understand the real meaning and importance of SEO.
SEO is a digital marketing process that helps to rank your website and its content on top pages of the search engines. In simple words, SEO helps people on the internet find your business.
When people search for something on Google or any search engine they get some results. Google wants to connect them with relevant and high-quality information. After a query when google displays search results and the best websites will be at the top of the page.
If you ensure that your website is fully optimized for this process. And as a financial services firm, you can reach potential customers who may be looking for the services you are offering.
Well, Google uses more than 200 factors to rank websites. Although Google never discloses the weightage of each ranking factor in the ranking process. Some factors that are considered vital for optimization:
- Content quality: The content on your website should be well-written, easy to read and understand.
- Page speed: Your website must load quickly on computer and mobile.
- The number of backlinks: If your quality and content on the website are good, you will get backlinks from other sites. So try to build your website as a useful resource for the visitors.
- Mobile-friendliness: Check that your website is mobile compatible or not? A mobile-friendly website is easy to use and rank on google since most people use smartphones to browse the websites.
- Frequency of website updates: Keep your website up to date. Ensure that your website content must be reliable.
SEO is a specialized task and it takes years to become an SEO expert. You can either learn yourself or hire an SEO Agency to perform the task.
Social media is no longer a place to just engage with your friends or post photos. It has now become a powerful marketing tool that can help you build your reputation, showcase your expertise, show a bit of your personality, and listen to your target audience. If you keep a proper mix of all these you can bring in leads, keep your existing customers engaged, and maintain your reputation within your industry and local community.
The best social media platforms for social media will be Facebook and LinkedIn for a financial services firm.
Facebook is a great platform as it has a very huge user base and LinkedIn is a great platform for professional services like finance and consulting.
Also, you can consider YouTube if you can create video content related to your financial services.
Consistency and quality of posts are very important to get desired results from social media. Producing content takes a lot of time and research but it fetches you the expected result.
Local SEO is a process to optimize businesses in local searches on search engines to increase their visibility, influence more customers and generate more leads and sales.
It is a very effective strategy of digital marketing for financial advisors. It helps businesses to promote their products or services to local customers at the right time they are searching for them online.
This can be achieved through specialized techniques and methods. These methods differ significantly from standard SEO practices and some of which are easier to manage using the free tools available. You must take local SEO Services from a reputed Local SEO Agency.
Local SEO Tips
- Optimize for Google My Business.
- Improve your internal linking structure.
- Optimize Content, URL, title tags, headers, and Meta description.
- Make sure to add location pages to your website.
- Ensure to post unique and informative local content on the website.
- Make sure your website is mobile-friendly.
- Be consistent with your NAP i.e. name, address, and phone number on online citations and the web.
- Optimize citations and online directories.
- Get inbound links from relevant authority sites.
- Post regularly on Google My Business and maintain engagement on social media.
Email marketing is one of the more most powerful tools for financial services firms. Emails are actually the most preferred channel for communication. It is more likely that people check their mail during their working hours rather than social media. In this way, you can reach your target audience while they are already in a business mindset.
The most common ways, you can leverage your digital marketing strategy are:
Financial advisors can create a newsletter to keep your audience engaged with your services. You can share information like your new services, your involvement with a local charity, and any policy update, etc. You can have a weekly newsletter, a monthly or quarterly newsletter.
Advertisement about new product/service
You can share the information about the new service line or any special offer coming up via an email advertisement. But always segment your email lists so that the right email can be sent to the right audience. E.g. an existing client will not be interested in knowing about an offer for a service they already have.
Apart from the organic marketing strategies, financial advisors can go for paid advertisements. If you have a budget and looking for instant leads you must try paid advertisement. You can run ads on social media platforms like Facebook, Instagram, and LinkedIn. In the case of financial advisors, LinkedIn ads can be a good option.
Google ads will also work well as you will get genuine leads from here.
This is a skilled task and needs expertise as it involves a lot of money. You can hire some specialists in your company to do the same. But if you don’t want a permanent employee you must take the services of a reliable agency who is an expert in running paid advertisement. With this, you can get a higher ROI.
To know more go through the presentation on Digital Marketing Strategies for Financial Advisors.
Watch the below video on Digital Marketing Strategies for Financial Advisors:
The purpose of writing “Digital Marketing for Financial Advisors – Powerful Strategies to Grow Fast” is to explain to you why digital marketing is important and what strategies you can adopt as a financial services company. This will be more or less the same for a wealth management company, financial advisor, financial consultant, or anyone who is into any service industry.
It may feel like there are a lot of things to do but believe me this can give you amazing results if done properly. The best way is to keep trying different strategies and track the response. You have to be willing to test and try to discover what works best for your wealth management business.
Google and Facebook have amazing tools like google analytics and ads manager etc. to monitor and analyze your performance. You need to play around with the tools and refine your strategies accordingly. All you need to do is get started because it takes a couple of months to observe the substantial results.
If you would like further advice about how you can incorporate digital marketing for your financial services firm you can contact us. InfoTalks has a team of specialists who can customize the best digital marketing strategy for your firm to make you grow fast.