Digital Marketing Strategies for Financial Advisors

Financial advisors can use digital marketing strategies to reach new prospects and strengthen current relationships with clients–but not enough advisors take advantage of it. It can be difficult to know when, how, what, and where to post.‍

Digital marketing primarily consists of creating certain types of content and then using online tools to deliver it. We go over how to create content that your target audience will value in our guide to digital marketing for financial advisors. In this article, we cover how to best deliver that content once it’s been created.

Email Marketing for Financial Advisors

Email marketing is when a business sends content straight to a recipient’s inbox. When the consumer hasn’t signed up for that company’s emails, it’s called cold emailing. These types of emails only have an average open rate of 6%, whereas emails sent to customers who have opted in get opened at 15.1% on average across all industries. The average open rate for opt-in emails in the financial services industry is even higher, around 25%. This should be your target percentage.‍

Since opt-in rates are much higher, one of the best tactics in digital marketing is to encourage website visitors to sign up for your email list. You can encourage sign ups on your website by having a lead magnet.

Getting the user’s email address is only the first step, however. Not only must you send out emails consistently (since consistency helps promote trust), but you must also create content that the end user wants to open. One way to increase the odds of your emails getting opened is to create catchy headlines and customized content for your target audience. Segmenting your email lists can allow you to personalize your content even further.

But the process of email marketing still doesn’t stop there: Even if you manage to create a 25% open rate initially, that doesn’t mean users will continue to open them. Without engaging content, your recipients would eventually stop opening them or, even worse, decide to unsubscribe.

To know if the content in your emails is resonating with your intended audience, you have to continue to monitor open, click-through rates, and unsubscribe rates, as well as other factors. You can do this by using a third-party email marketing platform or sign up for our fintech solution, TIFIN Content. Our platform does the heavy lifting for you by creating customized, highly targeted email campaigns. These campaigns are consistent, timely, and can be closely monitored through our user-friendly interface. To schedule your demo, contact us here.‍

Social Media Strategies for Financial Advisors

Social media is another digital marketing tool underutilized by financial advisors. Social media marketing is very broad and covers a lot of different strategies, so it can be difficult to know what and where to post.

Each social media platform has its core audience, as well as its own user interface (how you interact with the app or website). As an advisor, you want to focus on the platforms that have the most users of your target demographics. While each platform has users of all kinds, the core demographics for each platform varies. This means that content you publish on one platform may not necessarily work for another.

Before deciding on your social media strategy, you must first familiarize yourself with the demographics of each site. The Pew Research Center publishes social media statistics each year, and includes valuable information that can be helpful for advisors, such as age, income, and education. For example, if you’re wanting to reach more individuals between the ages of 18 and 29, you might decide to focus more energy on Instagram, which is more popular with this age group.

When it comes to creating effective social media campaigns, TIFIN Content can do most of the heavy lifting for you. We create content that is tailored based on your firm’s value proposition, client investments, and client segments. In addition, our platform easily integrates with many of the top platforms. To learn how we can help your firm grow, please contact us here.

Creating Ad Campaigns as a Financial Advisor

Ads can be used as quick ways to bring in business. Digitally speaking, there are different types of ads, including display, native, social media, and search. The type of ad you should use depends on your objective, budget, and target audience.

Just like with other types of marketing, your first objective is to define your target audience and then devise your ads accordingly. You can increase the chances that your ad campaigns are effective by doing the following:

Defining your goal in advance: What are you trying to accomplish? Is it for a prospect to schedule a call with you, sign up for your email list, or visit your website? Perhaps your goal is more broad, such as establishing your brand as an authority and building awareness.

Keeping your target audience in mind: The mistake many advertisers make is that they’re so busy pitching their products and services to their consumers that they forget about the consumers themselves. It should always be clear as to how your products and services can improve the lives of your prospects.‍

Setting a budget: Most ad platforms will ask you to set a budget anyway but, since online ads can be expensive, it’s important to know what your budget allows in advance.

Including relevant details: Businesses can spend a lot of time crafting their ads and then inadvertently forget important details, such as having a clear call-to-action (CTA) with the relevant link attached or other necessary information. If you’re advertising a webinar, for example, you’ll want to double-check that your ad has included the name or main topic of the event, as well as the date and time.

Measuring results: It’s hard to know if your ads are being effective if you don’t measure the results. You will want to calculate your target ROI (return on investment) so you can figure out if the money you spent on these ads was worth it. You can also conduct A/B testing to measure which ads are bringing in the most prospects.

Website Content for the Financial Advisor

Websites are the hub and home for all businesses. It’s where you can capture your prospect’s email address, convert them into clients, and define your brand. It’s also a place to host valuable content for your target audience.

The text, images, audio, or video files on your website can be used to create a sales funnel and improve the chances of your website showing up in search engines. All content should be created with your target audience, or buyer persona, in mind.

Your content doesn’t need to be confined to your company’s either: Writing articles for other financial websites with large readership can help you expand your reach. You can also use third-party websites such as YouTube, Reddit, or Medium to increase your chances of others finding you.

Third-party Fintech solutions can help you automate your digital marketing strategies. Our platform combines AI and human marketing to turn your digital marketing into a growth machine. We help you stay top-of-mind with clients and prospects by publishing timely, hyper-personalized content.

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.