To make significant progress in today’s competitive market, advisors need to be creative in their strategies to attract and retain existing clients. Here are the financial advisor marketing ideas that can help you to grow your business.
1. Start a Blog
Building a blog and keeping it up-to-date is an effective way to show your expertise, share relevant content, and be easy to find in search engines such as Google. Before you publish your blog posts, it’s necessary to consider the trending topics and base your posts on such keywords because they are likely to be found by clients whenever they type such words in the search bar. A blog popularizes your brand, and potential customers will tend to build trust in your products, thereby leading to the growth of your business.
2. Embrace Social Networks
Social networks such as Facebook, Instagram, and Twitter have shown to be the fastest way to reach out to a broad audience with only one post. It’s the most effective way to network with your clients and share relevant information concerning your brand.
The greatest thing about social networks is that they recommend new connections for you depending on common interests such as skills, location, employers. With only a cell phone, it may be challenging to accomplish the same.
3. Participate in Local Networking Events
If you intend to enhance your hubs of influence, the easiest way is to get in touch with other professionals in your field by taking part in local networking events. Reach out to small business owners in your locality to find out if they have regular networking events for their clients.
If networking online is your priority, then type the name of your town on social media networks and click the search button, you will be directed to the available online groups as well as associations. To get your brand known in such groups, you need to ask questions, answer questions, post relevant information frequently, and the name and the title of your business will be displayed on top of all the members. It’s a cost-effective way to interact with a new audience, showcase your skills, and take your professional network into a different level.
4. Optimize Your Website
Optimizing your website is the secret to making your brand easy to recognize amongst your target audience. Try to do everything it takes to have your website ranked on the top of the search engine results page. This may include the use of relevant keywords, updating your content regularly, adding informative content into your blog, and many more. Adopt these and more SEO tactics for financial advisors to get your website ranked higher as this will popularize your brand, thereby igniting its success.
If you’re not a financial SEO expert, you can hire a professional to take you through the entire SEO tricks that can help your website to rank on the top of SERPs.
5. Build up Online Reviews
Nowadays, online reviews play a vital role when it comes to consumer decisions since various competitors are rendering the same services. To edge out your competitors, you’ll need to establish a robust presence on review sites with positive testimonials that underline your successes as well as your trustworthiness.
To get reviews, you can request customers who have been satisfied with your services to leave a review to let others build trust in your brand.
6. Narrow Your Audience
Base your marketing campaigns on a specific group of target audience rather than targeting a broad and varied base. This is a great move since you’re only concerned with consumers who can share your message.
You need to define the age bracket, income levels, service requirements, and financial objectives of a specific audience, with the motive of sending out a campaign while at the same time maneuvering the campaign itself based on their desires and wishes.
7. Increase Your Fees
This marketing trick may seem illogical, but it’s based on thorough reasoning. Setting your rates too low may discourage potential customers because there is an assumption that low prices are associated with poor quality. Set up your prices higher, and customers will flock into your business because they believe high prices are indicative of better quality. This depends heavily on the kind of products you’re dealing with. In some markets, people are prepared to sacrifice quality to save money to cater for other household items.
Don’t try to edge out your competitors in terms of products or prices. It will be hard to succeed. Value is the greatest tool to set yourself ahead of others. Always rely on valuable financial advice from advisors to stabilize your business even though such advice doesn’t come freely.
8. Host a Client Event
Rather than requesting your current clients for referrals and having to keep in touch with them, allow the referrals to come straight to you. Hosting a client event is an effective way to let your current clients know that you appreciate them, interact with them on a person to let them know you more, and thereby strengthen your relationship with them and, if possible, engage new potential customers.
Before meeting your clients, you can request each one of them to come with a friend, and this could translate to a new account opening. It’s effortless to keep in touch with potential customers who you’ve already interacted in person.
9. Test, Test, Test
Not all marketing strategies yield the desired results, and that’s why it’s necessary to analyze and find out where your marketing strategy is valid or not. Base your strategy on real data so that you can arrive on well-thought decisions when it comes to reaching out to your target audience. Relevant data comprises of conversions, information related to consumers’ behavior as well as response rates.
Do thorough research to find out whether your marketing strategy is working or not to avoid the wastage of resources on something that will not yield the desired results.
If you’re an advisor and you are looking forward to enhancing your marketing efforts online or in person, you should consider embracing the discussed above financial advisor marketing ideas to ignite your business.