For financial advisors, marketing can be a confusing and daunting task. What marketing channels should invest in to see the highest return? How much time should you spend marketing your business? These are questions that we are going to answer for you in todays post…
Be Concise and Creative
Getting potential clients into your place of business is one of the most important aspects of creating a successful financial advisory business. There are various methods of getting potential leads through your door and it requires smart marketing and advertising. One great way to get people interested in your company is to offer free financial evaluations. Robert Bly, a world renowned copywriter once said, “Free is the most powerful word in the [our] vocabulary. Everybody wants to get something for free.”
Networking In Your Industry
In order to get your name out there you will have to network within the financial industry and other industries that often need the services of a financial advisor. Networking can be done in a variety of ways and it mostly requires communication in a professional manner. Start by applying to join your local Chamber of Commerce. These connections can open doors to even more individuals or business who may need your services. Here is a great list of networking ideas for financial advisors.
Social Media and Internet Marketing
In this day and age social media and internet marketing cannot be avoided or underestimated. The internet has exploded into one of the most common, real-time forms of communication and it brings with it a great way to advertise and market to your target demographic.
Social media platforms are widely used and are a smart way to get free advertising for your business however, don’t think you need to be on every one. You will want to focus on social channels where your target audience is more likely to “hang out”. This can include any of the following…
There’s no immediate need for a financial advisor to promote their business on channels such as Pinterest or Instagram as those mediums don’t attract your target audience as much as the ones above do.
Start by creating a profile on each one and begin connecting with people you would consider your target audience. Twitter makes this incredibly easy. Just head over to twitter.com/search and type in a keyword that describes your business. Try “financial advisor”…
Study asks what makes clients trust their financial advisor: 1/3 said the advisor's competence while 2/3 listed their personal relationship
— Ben Carlson (@awealthofcs) April 9, 2015
Here’s a great tweet you can leverage to find individuals to follow that would be interested in following you back, growing your audience. Just click “RETWEETS” and follow everyone that retweeted the article. Why? These are the users that are most likely to engage with your posts, sharing them with their audience, increasing the reach of your voice on social media.
Be Willing to Try Something New
Have you tried the old school methods of advertising and been unimpressed with your results? With digital marketing and advertising, you have to be willing to try new ways of increasing your visibility. These new methods may have a longer time to execute but definitely have a higher ROI. Taking blogging for example… The first few times you post, don’t expect immediate results. Rome wasn’t built in a day! With persistence, dedication, and the right promotion (for example, SEO and social media), you will begin to generate traffic to your blog. You will eventually gain the trust of your readers by providing them with helpful, informative, and free content. This trust will turn some of them into paying customers.
Customer Service Matters
How do you stand out among your competition and get your current customers to refer their friends and family to you? Simple – focus on premium customer service. While you may get the best returns for your clients, it isn’t always the deciding factor that makes people go with your service over your competitors. In fact, many people choose a financial advisor based on their gut feeling. For this reason, you should focus on creating real relationships with your clients rather than just looking at them as another revenue stream. Some great ways to foster a good client relationship are…
- Send check-up emails to see how everything is going with them.
- During holidays, send gifts or cards to let them know you appreciate their business.
- Treat them to lunch or drinks during or after meetings.
It is extremely important to the continued success of your business to let your current clients know they are more than just a number.