With growing demands on personal finances, more and more people are looking for simple solutions to grow their wealth. Although you know your business is primed to help, it can take time to be heard amongst all the noise and competition in what can sometimes feel like a challenging industry to trust.
If you can get your marketing message on point, you can help build trust for your brand and reach the ideal audience looking for an experienced financial advisor. Here we share six financial advisor marketing ideas and strategies that work.
1. Develop a Strong Branding Message
You might think branding is something for companies like Coca-Cola and Nike. However, every company needs to develop their brand. Branding tells customers who you are and what you offer. Because trust is essential for financial advisors, you want to clarify that you understand your client’s pain points and can deliver sound financial solutions to build their wealth.
When competing with some pretty heavy hitters, you must create a niche based on crucial pain points. You might be focused on customers of a certain age, a certain kind of investment or strategy, more thoughtful tax planning to reduce paying capital taxes, or whatever you feel sets you apart. Pain points are the best way to determine your ideal client’s needs and build your brand based on how you’ll help meet those needs.
Some areas that help build your brand along with client pain points include:
- Your experience, what are you bringing to the table?
- Your successes, how have you helped clients in the past?
- Your niche, where are you making the most significant difference, and how?
When you answer these questions, you can build trust by showing prospects how you can help and increase appeal by creating a persona that resonates with the right niche.
2. Build Brand Awareness with Social Media Marketing
Once you feel comfortable with your brand, you can build awareness via social media marketing. This is the best marketing tactic to reach new customers through highly targeted marketing. You can develop a rapport with your niche market and brand recognition without worrying about overstepping strict compliance rules set by FINRA and the SEC. This is where you focus on your brand instead of providing advice.
Here are a few examples to help raise brand awareness while adhering to restrictions:
- Get personal. Share stories about yourself, your passions, your interests, how your business came to me, and more...
- Avoid sharing 3rd party articles... instead, pick out the most interesting points and turn it into no-click content.
- If you're going to get political and share your values, do it in a tasteful way.
- Be consistent. Your audience will learn your posting schedule and show up to see you.
- Get your social audience on your email list... more of that below...
- Use hashtags that resonate with prospects, based on essential keywords like #wealthmanagement, #retirement, or #investmentstrategy in your posts and other content like blogs on your website
- Leverage social selling to develop relationships that lead to consultations.
- Thank folks for interacting with your posts and invite them to like your business page.
- Be sure to mention your licenses, including your CFP® and CFA®, to build trust and showcase your expertise.
3. Nurture Relationships with Email Marketing
Email marketing nurtures relationships with existing clients and helps build new relationships with prospects. It is also permission-based, so you only communicate with people who have agreed to receive your information. Because of this, you can make your emails count, sharing information that quickly and easily explains how your financial services help and why people need them. An excellent email marketing tactic is to develop an electronic newsletter with exciting content that showcases your knowledge and how your services align with meeting financial goals:
- Focus less on promoting your services and more on sharing THE OUTCOME of your services.
- Use segmentation to send the most relevant information to different people on your subscription list, whether it is age groups, investment types, or customer journey stages.
- Maintain an ongoing drumbeat with a regular schedule that sends out robust, helpful information once a week or as exciting opportunities or financial news comes up.
- Stick to pain points and help resolve them so people can trust you and want to learn more.
- Send personal messages such as birthday wishes.
- Look for cross-selling opportunities, watch for trends that might indicate a need for a change of strategy, economic triggers that might create opportunities, etc.
4. Build Your Online Presence with Website Content and SEO
Building authority and demonstrating thought leadership are particularly crucial for financial advisors. You want to develop website content that helps showcase your expertise and build brand awareness. Your content speaks to the key benefits of financial advice with topics relevant to your audience. For example, you can target people in their 30s with advice on the importance of investment to retire early or to people approaching retirement about how to ramp up their wealth later in life.
Market insights, discussing the pros and cons of various financial products and services and whom they are best suited to, and insightful information about confusing investments like Bitcoin, all help speak to your financial knowledge. You can then use your content to improve your search engine optimization by using keywords relevant to your industry. This will help move you up the ranks.
5. Include Paid Advertising to Boost Awareness
It takes months to improve your ranking because keywords in the financial industry are highly competitive. One of the best ways to help drive traffic is paid advertising. Known as pay-per-click or PPC, you can appear at the top of the “organic” rankings as a sponsored ad. You only pay when someone clicks on your ad, making it a wiser investment. By choosing the most relevant keywords, you can appear when people seek advice and, with carefully chosen wording, entice people to click your link for more information.
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6. Tie It All Together with Retargeting
Tie your marketing strategy all together using a retargeting campaign. Retargeting allows you to target people who have visited your website. Once someone leaves your site, your ads appear with special messaging across the internet to remind them about your services. As people see your ads, you can help increase conversions by remaining top of mind.
Ads are targeted based on what pages they visited on your site, so you can understand where they might be in the sales funnel and use that information to send meaningful messages to urge them along their journey.
Bottom Line
Although these strategies work, it takes time to finesse your marketing skills. However, with the support of an experienced financial advisor marketing team, you can see results much faster. Lexicon Advisor Marketing specializes in financial advisor marketing and can develop a marketing strategy to increase your brand awareness, build your online presence, and ultimately help you grow and scale your business with our proprietary FinGrowth program. To learn what Lexicon’s FinGrowth can do for you, Schedule a Strategy Call today.
Related: Inbound vs Outbound Marketing: Building Your Marketing Machine