Email Marketing Tips for Financial Advisors

Email Marketing Tips for Financial Advisors
28 Dec 2020

Email Marketing Tips for Financial Advisors

Financial advisors most often challenge they face is promoting their services to find new clients. So, before you start any marketing campaigns, there are certain things you need to figure out. If you overlook them, then you will not get the most out of any marketing that you do.

1. Create a marketing plan

You know what they say: the right preparation prevents bad performance.

And that applies to marketing just like everything else. If you don't have a clear understanding of your marketing goals and a way to accurately measure the success of your campaigns, your marketing efforts are doomed to fail.Pick a few marketing ideas from this list (there are not so many that you risk being overwhelmed) and decide how and when you implement them, what marketing budget you need for each one, and what results you expect to get.At the very least, you should set goals for your results in terms of the number of new customers and the cost of each acquisition, i.e. how much it costs to acquire each new customer.Check your progress regularly against your plan and your goals, and don't be afraid to ditch a particular marketing strategy if you get to the point where it clearly doesn't work.

2. Determine your target audience

As a financial advisor, it is very easy to say that everyone can benefit from your services and therefore everyone should be part of your target audience when it comes to marketing your business. This is wrong. There are all sorts of people you shouldn't be trying to get as clients. Those who don't have enough money to pay your fees can be just one example.You will get much better results from your marketing and build a much more stable and enjoyable business if you gain clarity about what the ideal client looks like.

3. Find your niche

This goes hand in hand with knowing who your ideal customer is.If you ditch your financial consulting business by focusing on specific types of clients, you will reap many benefits. clients or specific areas of financial planning.

4. Develop your value proposition

One of the problems that financial advisors face is that you are all selling the same products from the same suppliers. And if you are not a consultant for the entire market, then you are really going to offer less products than many of your competitors.So, trying to differentiate your business based on the products you offer is likely to fail. Instead, you need to find other ways to separate yourself from the competition and give potential clients a reason to choose you over any other financial adviser.The best way to do it is to develop a strong value proposition, then make sure you use it on your website and all other marketing materials.

5. Identify the pain points of your potential customers

Whichever business you are in, there are really only two reasons people buy your products or services: either to get pleasure or to avoid pain. Here's an example.

Suppose I go to the dentist and he tells me about an amazing new toothpaste that will make my teeth whiter, gums and even taste better all of my food.

Sounds great. Who wouldn't want all those things?

And then the dentist tells me that this toothpaste costs $20 a tube.

Suddenly, as great as it sounds and as much fun as I could get whiter teeth and better food, I don't really want to buy this new fancy toothpaste.

Now imagine that I went to the same dentist for an appointment because I have had a terrible toothache for the last 48 hours, and because of the pain I could hardly sleep.

The dentist told me that I needed to have a tooth removed and it would cost $500. I pay him without hesitation.

So why do people need financial advisors? And what motivates them to seek the services of a consultant right now, and not at some indefinite time in the future?

You are more likely to find the answer if you focus on the pain (s) that you solve for people.

6. Understand the theory of "know, like" and trust

I'm sure you've heard it said before that people buy people.In other words, we often refer to a person who is trying to sell us a product or service that determines whether we buy it or not.This is especially true when it comes to such important things as our health or our wealth. Or, as Google calls them, YMYL themes (your money or your life).This means that a successful marketing campaign for a financial advisor must be designed so that potential clients go through a three-step process whereby:

1. they will find out about you first,

2. then you start to like them,

3. and finally begin to trust you.

It's only after someone completes all three stages of their marketing journey that you will likely find them as a new customer.

Digital Marketing for Financial Advisors

There are many ways in which financial advisors can promote themselves online or improve existing digital marketing. Here are some examples:

- Make sure you have a website that you can easily update

- Your website should be the focal point of your digital marketing strategy. This is where all your other online marketing activities (social media, email marketing, etc.) will ultimately lead people.

- If you want your website to be able to drive visitors to leads, it is important that it be built on a platform like WordPress that makes it easy to make changes as it always offers up-to-date information and advice.

Make sure your site loads quickly

Your site should load quickly on both desktop and mobile devices. If it doesn't, people won't linger and look at it, and Google will punish you in search rankings.You can use tools like Google's PageSpeed Insights to see how your site is currently performing.If you have a WordPress site and need to speed up, I recommend taking a look at WP Rocket or Nitropack.

Install Google Analytics

You cannot improve what you cannot measure. So, make sure you have Google Analytics (it's free) on your site so that you can collect data about all things, such as who visits your site, how they find you and whether they turn into a query or join your list mailings. In addition to checking for the presence of the Google Analytics code on your website, you should also set it up for tracking purposes and enable demographic reports.

Setting up Google My Business

By creating a free Google My Business account, you can have your business and its website appear in local business search results on Google.

Update your website with fresh content

Try to develop a habit of regularly adding new content to your site. A blog is a great way to do this, and I wrote a separate article on how to use a blog to get more leads.

Promote Your Business With Videos

If you prefer to be in front of the camera rather than writing blog posts, then I have great news for you.YouTube is the second largest search engine in the world, videos are a great way to promote your business and raise your credibility as a financial advisor.A good strategy is to think about what questions people might ask a financial advisor. Then record a short video of you talking to the camera to answer that question and talk a little about ISA in general.It doesn't have to be long - a two to three minute video is fine.If you're uncomfortable with being on camera, you can create a video that consists of presentation slides or stock video.