Digital Marketing Strategies for Financial Advisors | Financial advisors
In today’s online world, digital marketing is essential and an effective way to promote your business online. No matter the size of your business, it’s one of the best ways to grow your business, and you don’t have to be a 100% online business to take advantage of it. However, to grow your business and your income, you need the best digital marketing strategies by your side. What I’ve observed in elite advisors and teams that want to grow is that they have adopted a strong digital marketing strategy.
Companies can use a combination of strategies to attract ideal customers on different channels. The opportunity presented by COVID-19, nearly three years later, has swung the world into a virtual space. This reduced the visibility of advisors relegated to only serving customers in their local areas. Consumers are savvy and, in addition to asking friends and family for recommendations, they use Google and other search engines to find an advisor.
Here are four digital marketing strategies to use to your advantage and grow your customer base. Compliance rules differ depending on your situation, so check with your own compliance team to understand what you can or cannot do in relation to digital marketing platforms.
search engine optimization
When you optimize your website for search engines, people can find you based on commonly used phrases. Search engine optimization, or SEO, is a form of inbound marketing because it helps people find your website through search engines. It brings people to your business without you having to find them. Inbound marketing is less intrusive than outbound marketing — which includes TV ads, radio, and cold calling — because people interact with inbound marketing content exactly when they want to.
SEO can be broken down into a few things. There’s on-page SEO, which is about the keywords you’re targeting and other things you control on your website. Off-page SEO focuses on getting shares and links to your website content. Technical SEO deals with how your website works and whether search engines can crawl and index pages. SEO is a long-term strategyso you won’t get an immediate gain, but if you stick with it, it will pay off in time when you see your business grow.
Creating valuable content online that inspires people to interact and engage with your business is at the heart of content marketing. The content you create doesn’t always need to be written: it could be a video, a blog post, or an infographic to share. The key word here is “share”. The more people who visit your website, share your content, and link to it on their websites, the better search engine rankings you will see.
In your content marketing strategy, incorporate your personal story and “why” into your content so consumers have a chance to get to know you and what you do. Only share information you’re comfortable sharing, but keep in mind that advisors who show their personal side have a better chance of connecting with potential clients faster.
Advertising by e-mail
With email marketing, you use email to interact with current and past email subscribers or customers. How do you get said subscribers? You can start by having an opt-in email on your website. Email marketing is related to content marketing because you can use your emails to engage and share content.
Send a monthly newsletter with an update on your blog, new promotions or news from your company. Don’t spam people by sending too many emails in one day. Encourage others to subscribe to your newsletter via social media posts and offer an incentive, resource or tool that they would be willing to trade their email address for. Use platforms like Mailchimp, Mailerlite, or Constant Contact to set up your email marketing system.
Social Media Marketing
Social Media Marketing uses a variety of social media platforms to communicate and interact with your target audience. There are several social media platforms advisors can take advantage of, such as Facebook, Instagram, LinkedIn, and TikTok. Your business should be where your target audience is. If you’re not having success on one site, you should find another where you can reach your target audience.
Just like email marketing, social media marketing also ties into your content marketing strategy. This is another outlet for you to share the content you create. Posting and managing social media can be a full-time job, so choose one or two platforms to master first. Unless you have a dedicated member of staff or an outside vendor to do the job, it can quickly become overwhelming. At this point many advisors tend to quit and this can be avoided if you create a strategy and plan to do the heavy lifting.
Each of these growth strategies work together and here’s how: You have an idea for a new article and you share this piece on your website about how this topic can affect your potential customers. You then create an attractive infographic to grab people’s attention. You take the time to research keywords, which you include throughout the content. It starts ranking in search engines, and you share this content in your email newsletter and post your infographic on social media to drive traffic to your website. Your content starts ranking even higher, and then you get the attention of a major publication. They write about your article and link to your website. Then more people will find you from that post. You are now at the top of search engines for your target keywords and sales can soar thanks to your hard work.
Once you’ve found the right combination of effective strategies, look to document and then duplicate the process for maximum results.
Keep the end goal in mind
Identifying your goals is important for any digital marketing strategy. Is it brand awareness? Find more potential customers? Expand your digital footprint? More commitment? Whatever the end goal – and there doesn’t have to be just one reason – use the best tools to achieve your ideal results. Understand that digital marketing does not stop. You need to keep creating, optimizing, and sharing content to see consistent growth. If you do this, you will be able to reap significant growth in your consultancy business.