Certain industries do not seem to embrace digital marketing as much as they should. Look at financial management. Financial advisors know how important marketing is to their businesses, but how many of them enthusiastically embrace digital marketing’s full potential?
Are you a financial advisor who keeps digital marketing at arm’s length? If so, there is nothing to be afraid of; there is nothing about digital marketing you need to fear. It is a fantastic tool with plenty of potential to help you improve your book of business.
Don’t Go It Alone
Your typical financial management firm leaves marketing to an in-house staff that relies mainly on traditional marketing strategies. Any attempt to move into the digital realm could be a tricky proposition if that in-house team doesn’t fully understand or appreciate the digital space. In a nutshell, don’t go it alone.
It is just as unwise to assume your marketing team understands digital as assuming your clients understand financial management. Your team may have a handle on digital, but don’t assume. Also note that it is okay to work with an outside agency to get the digital ball rolling while your team gets up to speed.
Here is what you should be looking for in terms of a third-party agency, according to Salt Lake City-based Webtek Digital Marketing:
- Industry Knowledge – Your digital marketing partner should have sufficient knowledge of the financial services industry. Such partners are hard to find, but they are out there.
- Extensive Experience – Because the financial services sector is so unique, it is best to work with a digital marketing agency that already has extensive experience. Do not choose an agency that wants to use your account to learn.
- The Ability to Adapt – The ability to adapt is critical in financial services due to ever-changing markets. Likewise, the nature of SEO and digital marketing requires an agency ready to adapt at a moment’s notice.
A good digital marketing partner will utilize every tool available to effectively reach your target audience. But team members will also teach you strategies you can employ on your own. Always be willing to learn.
Don’t Fear Social Media
Experts say that social media marketing is a vital component in a comprehensive digital marketing strategy. No surprises there. Social media is one of the most dominant forces in the modern world. Do not be afraid of it. Also, don’t make the mistake of believing your audience doesn’t use social media.
Check out these statistics regarding your favorite group – baby boomers:
- 78% are active Facebook users
- 67% consume YouTube content regularly
- 31% have active accounts on LinkedIn.
Younger consumers are gravitating toward social media sites like TikTok, Instagram, and Snapchat. That’s all well and good, but baby boomers are more likely found on YouTube and Facebook. That is where you should target them. Incidentally, don’t worry about Twitter for reaching baby boomers. It is more or less a non-entity to them.
Make Use of Email Marketing
Most experts also insists that email marketing is a particularly good tool for reaching baby boomers and Gen Xers. Email is not so effective for the younger audience, but it still meets older people where they are. Take advantage of it.
Email is a perfect tool for sending digital newsletters. Keep your audience up to date on the latest investments and financial news. Use a newsletter to introduce them to new products and services. Keep them informed about changes at your firm.
Given a choice between video and email, the majority of baby boomers will choose email. They check their email every day. Not only that, but they also read the messages. Text-based content represents how they are used to using the internet. Email is simply an extension of that.
Make Your Website a Marketing Tool
How do you perceive the message your firm’s website communicates to visitors? The strange thing about financial services websites is that they tend to be incredibly boring. They are filled with words, phrases, and industry jargon the average person doesn’t understand. Guess what? Your audience isn’t impressed.
As a financial advisor, you are most trusted when you speak in terms your clients understand. You earn your clients’ confidence by addressing topics that matter to them. You gain their trust when you demonstrate an understanding of their situations and an ability to adapt your advice accordingly.
All of this should apply to your website. Utilize your website as a marketing tool by developing content capable of hitting home with your clients. The right content can take your digital marketing efforts to the next level.
How to Create Winning Content
Content marketing is a strategy that utilizes the content on your website to do more than just describe your products and services. It utilizes content as a marketing tool. Winning content can be everything from blog posts to videos to FAQs.
Here is how to create winning content that turns your website into a marketing machine:
1. Keep It Simple
Your customers don’t understand your business. Do not expect them to. Whenever you create content for them (which should be always) keep it simple. Speak in terms they understand. Use examples that hit home.
2. Speak with Authority
Whether you are writing, recording a video, etc., speak with authority. Address topics that you know inside and out. If you ever need to address a topic that you’re not familiar with, don’t guess. Do not make things up. Thoroughly research until you can address the topic with confidence.
3. Be Relevant
Any topic you choose will fail to produce the desired results if it’s not relevant to your customers. Do they really care how currency rates impact global economies? Probably not, unless they are into Forex trading. Even though currency rates inspire you, it is irrelevant to your clients. Leave it alone.
There is a lot more this post could cover. However, it’s time to wrap things up. The thing to remember is that there is nothing about digital marketing to fear. Anyone in the financial services sector can harness the power of digital marketing to take business to the next level. That includes you.