Financial advisors can use digital marketing to grow their businesses. But in the fast-paced world of technology, tactics that worked just a few years ago may not be as effective today.
Below, we cover the five top trends financial advisors can use to grow their businesses in 2022 and beyond.
Segmented Email Campaigns for Financial Advisors
In 2022, roughly 333 billion emails will be sent everyday, and it’s predicted that, by 2025, that number will increase to 375 billion. This means businesses will continue to face stiff competition for users’ attention.
One of the best ways to increase your email open rate is to send personalized emails. Personalized emails came into fruition over 20 years ago and began with putting the recipient’s name in the subject line. This strategy still holds weight, as statistics show that putting the recipient’s name in the subject line are opened 50% more than emails without it.
You can personalize your campaigns further by segmenting your email list by factors such as age, gender, location, or interests. This allows you to further refine your emails to match certain groups and, therefore, increase the chances that your content will be opened. According to the latest data, recipients are 50 percent more likely to click on a link when receiving a segmented email.
To segment your email list, you can use an email marketing platform or allow a fintech platform like Clout to do it for you. Clout creates customized email campaigns based on your firm’s value proposition, client investments, and client segments. For a one-on-one demo with our team, click here.
Another way to segment your email list is to allow users to decide which content they’ll receive from you. For example, you can give your subscribers the option to receive all communication from you or only ones covering certain topics, such as curated finance news or investing for Millenials.
Virtual Networking for Financial Advisors
COVID has forever changed the way we network. Even if the pandemic becomes a thing of the past, many professionals have learned that they can network from home.
Financial advisors can take advantage of growing their network from home by hosting and participating in virtual events. A great advantage to virtual networking is reaching people beyond your local community. You can gain prospects in nearby cities, regional areas, or even other states.
Virtual events can also be an advantage when setting up client and prospect meetings. In the past, they may have expected to meet with you in person, and only considered using advisors in their local community. Now conducting business over Zoom or Google Meet is the norm.
Video-Centered Content and the Financial Advisor
When it comes to content, video can have the biggest impact. Consider these stats:
- 54% of consumers want to see more video content from the businesses they support
- Videos are consumers’ most favorite content to see on social media platforms
- Video marketers get 66% more leads per year
- YouTube is the most popular social media platform
Video’s popularity is expected to grow in the upcoming years. While YouTube is the obvious choice for video content, it’s not the only option. Here are ways you can use video on other platforms:
TikTok: TikTok is growing in its number of users everyday. Once only for videos of less serious content, it has now pivoted into a video-sharing platform featuring content on just about any topic, including finance. In fact, 41% of Gen Zers use TikTok as a source of financial advice.
Instagram: Instagram still reigns as the top photo sharing app but, recognizing the popularity of video, the platform now prioritizes relevant video content at the top of users’ feeds.
Facebook: Facebook is the second most popular video-sharing platform. While the platform’s overall user percentage is gradually dropping, it’s still the number one social media platform for adults over 30.
LinkedIn: LinkedIn didn’t add video uploading capabilities until 2017. Despite this, it’s surprisingly the third most popular video sharing platform and a great opportunity for advisors to share their expertise with other professionals.
Your Own Website: Posting videos on your own website is great for SEO and conversions. If nothing else, posting a basic video introducing yourself to site visitors can go a long way to build trust.
Demonstrating Expertise as a Financial Advisor
Sharing your expertise in your marketing efforts can pay large dividends. It can set you apart from your competitors, build trust, close more deals, and even bump your website to the top of search results.
You can use social media and your website as vehicles to post content that demonstrates the value of your products and services. Writing articles and creating posts that cover topics such as financial news or facts can help build credibility with your intended audience.
Other great ways to demonstrate your expertise are:
Write guest posts for other financial sites: The larger and more well-known the site, the better. You can then share the article on your website and social media. This will help create credibility with your customers and prospects. You can also check out a list of financial sites that accept guest posts here.
Offer to be a source for a reporter: Reputable companies like the Wall Street Journal and Reuters use Help a Reporter Out, also known as HARO, to find sources for their articles. The basic package is free, while the paid packages offer extra features, such as keyword alerts. Additionally, you can reach out to reporters via LinkedIn and Twitter.
Publish Articles on LinkedIn: You can publish as many articles as you wish on LinkedIn. You can select to have your articles to be available only for your connections or set them to be viewed publicly. To learn more, you can read their guide on publishing articles.
Using Google’s Local Services Ads and Google My Business as a Financial Advisor
Google is naturally going to favor its own content above anyone else’s. This is why it’s important for any business to complete their Google business profile. Creating your profile is free. It also goes a long way toward establishing your business’s credibility, which is one of the key factors that Google uses when ranking sites for SEO.
You can also opt to pay for ads through Google’s Local Services Ad program. Your ads will be targeted to users within your service area, and you only pay when a prospect contacts you directly through the ad. You can become a Google Screened or Google Guaranteed service provider, which helps you further establish credibility.
Financial advisors who stay on top of digital trends are the ones who will be the most successful at growing their businesses. Staying on top of campaigns, as well as the latest news and technology can be a lot to work through and navigate. Clout can do most of the heavy lifting for you, with customized email and social media campaigns tailored to meet your individual firm’s value proposition, client investments, and client segments. Contact us today for a demo of how we can help your firm grow.
Important Reminder: If you are a regulated advisor, it is your firm’s responsibility to ensure all material is reviewed and given final approval by your internal compliance/legal department prior to publication.