Financial Planning Marketing

Financial planning is indispensable if you wish to determine your short term and long term financial goals. It doesn’t matter how committed you are to your business, finances are your top priority; if the money is not there you simply won’t succeed. Similarly, business development is the ultimate priority for any financial advisor and a flourishing business translates into a bigger bottom line. There are always however more referrals to ask for, more accounts to get and more new clients to prospect. Planners looking to increase their marketing efforts must consider implementing the best strategies that will nurture and grow their practice.

If you are a financial planner, you’d want to market yourself in the most cost-effective way possible. Whether you are an established practice or a new firm looking for a comprehensive way to get your name out there, you need stellar marketing solutions. Here’s why-

Interact with your niche market

To help develop a polished, unique and consistent way for potential clients to interact with your firm. You also have the benefit of a highly experienced, fully-staffed marketing department who will guide you and assist you in every way possible and partner with you to implement a marketing strategy aligned with your resources, ability, time, sourced from your strength and aimed directly at your prosperous future.

Save time and money

You may not have the budget for full-time marketing staff- a good one-stop-shop will help you with everything from establishing a strategy for building and promoting your professional website. You can now focus on and proact what you do best while keeping new client development and business growth a priority.

Stand out from the pack

It’s a highly competitive marketplace. If you leverage the right expertise and tools, you can easily gain access to strategic, intelligible marketing plans that include compelling content to differentiate you from your competition and demonstrate the experience you bring to your clients.

How will a comprehensive marketing solution help me?

Branding

If you implement a branding strategy you can easily stand out from the stiff competition and ensure your message is not ripe with jargon. A firm message is the core differentiator for your brand. An effective marketing strategy will focus on offering an initial freebie or help you stay ahead of the curve by explaining prospects what your CFP or CFA designation means to them and how it will help them achieve results. You can additionally develop your brand by highlighting the benefits.

It will help you share your knowledge

You can hold a seminar keeping in mind your target market and share relevant information that will show participants that you have the right answers to all their financial planning challenges. You need to put your knowledge out there in order to establish credibility. A good marketing solution provider understands the significance of a website that is secure, compliant and tailored to your target audience.

Referrals

When it comes to the trust needed to handle financial affairs, nothing beats new business from clients who are referred to you by other satisfied clients. An effective marketing strategy will help you get your products and services across people and network with accountants, lawyers and other non-competing professionals who happen to appeal to the same target market.

Ultimately your services add tremendous value by eliminating uncertainty, stress or obstacles to your clients’ ambitions. They can sleep better at night knowing that their taxes and finances are in good hands. Expand your services by being top of mind for your client. Clients’ financial planning needs are rapidly changing. With rampant mistrust in the financial services industry, clients are now hunting for the objective, effective and trusted insights from their CPAs. As their highly trusted accountant, it’s time for you to step up to the opportunity.

 

 

Financial Advisor Marketing Plan

A written advisor marketing plan can be quite compelling. Sure, every advisor out there has an idea of what they’d like to work upon and to be reminded of these ideas every day can be tiring if not consuming. When you take the time to articulate your strategies, goals, and tactics you are able to see things for yourself more clearly, remain constantly motivated and grounded.

When you put your ideas on paper, you release your mind from the pressure of balancing everything in your head. Additionally, your advisor marketing plan will keep you from activities that do not help you move towards your goals. You do not need distractions.

A comprehensive financial advisor marketing plan should include-

  • Measurable goals and objectives
  • Areas of focus
  • Value (proposition/competitive advantages; what do you offer that is unique and that distinguishes you from your competitors?)
  • Competitive Analysis/SWOT Analysis- what is your competition doing and what are their value proposition/competitive advantages?
  • Budget- how much are you willing to spend on your marketing program?
  • Marketing stance/your ideal client
  • Marketing calendar- schedule your whole year upfront and stick to your dates
  • Projects and action steps (plan or a broad approach for achieving what you wish to accomplish)

Why do you need a plan?

If you have business expansion goals (as most advisors do), you’d be better off with a well-defined marketing plan even if your business is not scrambling for clients today. Marketing will help you gain prospect attention, establish your position in the market, win customers while building demand for your services. You may be indulging in a shotgun marketing approach without a clearly laid out plan, a little of this and a little of that and none of it is directly targeted towards accomplishing your objectives.

To define how you will establish your position in the market

When you make a plan, you will be able to define your ideal client profile, target market and what is it about your firm that makes you better suited to serve them. Once you know these, you can easily create your identity, messaging and marketing stance to reach those ideal prospects and clients.

To outline what you will do to gain prospect attention

You will define strategies that will boost your firm’s exposure to not just existing clients but also ideal prospects. Once you identify your competition and their value proposition, you can easily work on yours and make it unique.

To determine which actions will build demand

Your plan should be able to determine tactics that will lead to conversions and win you, customers. You can do all the positioning to gain prospects but if you fail to specify actions to move prospects along the sales process, your marketing strategy is not working for you and you probably need a new one. The ultimate goal of any kind of marketing is to gather the most purchase-ready customers who are the best fit for your products/services and make it convenient for them to reach and choose you.

To ensure your marketing plan is actually implemented

Marketing should not be an item that gets pushed to the bottom of the list when there are competing priorities and time is short. Make sure your marketing plan includes hard scheduled deliverables. Once the schedule is set for the year, it is your job to stick to it. A consistent marketing plan will take some time to show results.

Financial advisors often tend to believe they are more comfortable on the “left brain” i.e. the numbers side of the business than on the “right-brain” or the more subjective feeling sales and marketing side. However, without an implementable marketing plan, you will feel like you’re spinning in a hamster wheel to figure out how to get more and more clients thereby growing your business. Do you have a marketing plan yet? If not, do you have a scalable resource to help you develop your personalized plan and deliverables? Now is the time to begin. Make this year all about results with an effective marketing plan.

 

Financial Advisor Marketing Strategies

In an increasingly competitive landscape of more than hundreds of thousands of financial advisors, it can be challenging to stand out and differentiate yourself by simply offering comprehensive financial planning and great service. One of the most crucial but difficult tasks is not just perfecting their craft, but figuring out how to get new clients and ultimately grow your business. An advisor needs to learn how to effectively market their services and communicate their value to audiences that they might do business with. Here are a few strategies that will help you.

Know your niche market

You should be able to describe your target audience to anyone with such clarity that they should be able to visualize it. Research and learn more about the demographics as well as psychographics. You cannot be delusional enough to believe you market to everybody. The riches are always in the niches and you need to specialize in knowing your ideal client. There are a host of options to choose from- retirees, divorcees, company executives, dentists or plumbers. The idea that casting a wide net will inherently translate to more business is wrong.

Listen to what your clients have to say

A client-centric approach never fails. Your current and past clients are a group your marketing team should focus on since if you’re not reaching out to them, you can be sure your competitors definitely are. Send out thank you letters or birthday cards that are sincere. These will go a long way in getting your clients to give you referrals. Additionally, address every complaint that you receive from unhappy clients and resolve them promptly. Let your clients know that you value their input and they will be more likely to do business with you again.

 

Know how much money you make per direct outreach

You are blessed with the incredible ability to control your income! Figure out the number of calls it takes for you to make an appointment and then the number of appointments it takes to get a client. If you know how much you make per client you should be able to quickly figure out how much you make per phone call. If you want to make some extra money,  pick up the phone. You ideally need to keep track of- the number of calls you make, the number of completed calls and the number of appointments you set. While implementing these marketing ideas, knowing your numbers can be highly motivating but also discouraging along the way. Don’t let it get to you.

Focus on conversions

Channelize all your energy towards your site’s user experience, traffic is great but ultimately worthless if it’s not converted into paying customers. You should strongly consider hiring a web designer who will make your site easy to navigate, to follow information with ease thus ensuring enhanced user experience. Your clients do not have the time for financial jargon, broken links or an outdated website. Have your contact information on every page and take extra care to maximize your “above the fold” use.

The ideal thing to do is to work with a marketing agency. If you have been looking for one, you’ll quickly learn that no two agencies are the same and none can guarantee results. It’s also a time-consuming process. But for the sheer efficiency and seamless operations, you might want to consider a financial advisor marketing agency for your next campaign.

 

 

 

 

Digital Marketing for Financial Advisors

Elite professional financial advisors realize that distinguishing themselves from competitors demands dedication, innovation, efficiency and the willingness to go beyond the norm. The perfect digital marketing solution will bring the same attitude to your marketing strategy by developing customized web assets that distinguish you from the pack and represent you (and your practice) with the highest possible level of professionalism and finesse. You shouldn’t have to settle for “canned” web themes and content being used by every other attorney or advisor. It’s time you reach your audience with the right content and a fresh approach.

How will digital marketing help your firm?

Reach your target audience

While formulating your digital marketing strategy, it’s vital that you provide the right information to the right people. An experienced team of copywriters and marketing professionals will be able to efficiently customize your message and strategically deliver it to your clientele through a host of diverse channels. If your present marketing efforts are not accomplishing this, needless to state, you’re leaving money on the table. What’s the result? More referrals more lead to more repeat business and higher profits!

Reduce your seminar costs and efforts

Long gone are the days of spending a lot of money and resources each month to try and fill the seats at your seminars via direct mail. If you are still doing it, you owe it to yourself to become fully informed about the different cost-effective and time-saving ways in which digital marketing will up your game. Leverage the power of the internet to reach more and more people every day for less money. You advise people every day on how to protect their assets. It’s finally time you implement a vehicle that is more efficient than direct mail. Social media platforms will engage with your audience, resulting in a higher level of credibility seamlessly.

Map your progress through feedback

The most significant benefit of digital marketing is not just that marketing your financial services digitally but you can get proper feedback and insights from your digital marketing campaigns which traditional marketing doesn’t allow. You can interact with your audience, know their preferences and grievances and address them efficiently. Additionally, if your clients have a positive experience with your service they are more likely to recommend you to their friends.

Google reins

It is important to boost your Google rankings and this cannot be stressed enough. Why? 3.5 billion Google searches are made every day. Additionally, Google happens to own 92.42% of the search engine market share worldwide. With statistics like these, you have to determine immediately how to rank high in Google to be discovered by prospects and increase SEO rankings by driving traffic to your site. An effective digital marketing strategy will prove to Google that you have click-worthy and relevant content that searchers would want to see.

Also, ensure you check out your analytics frequently to determine how your blog, website and social media channels are performing. There are a host of tools that you can use in Google analytics. The key, however, is to know which ones to explore so that you get the results you are aiming for.

Digital marketing is perhaps the most effective way to reach potential clients. Your digital marketing approach will make or break your business’s success hence it’s imperative that you are well invested in terms of resources, time or efforts in a well thought out, comprehensive, profit-driven digital marketing strategy. It, however, is a work in progress and not an overnight phenomenon. It will probably take months to begin seeing the consequences of your marketing efforts. If something needs fine-tuning, now is the time to get that together.

Financial Advisor Marketing

As more and more advisors are delivering comprehensive financial planning and wealth management services the key to growth as a financial advisor is not to be better but also different and your marketing solution provider should understand that. Financial advisors need to develop an effective brand for their firm by identifying the significant qualitative factors that make an advisor’s practice unique and targeting the not already overtly saturated client segment. These are branding strategy elements that help any financial advisor create a compelling, relevant message that will elicit client management from the type of clientele you have chosen to serve.

Why do you need an effective financial advisor marketing strategy?

In the initial years of this profession, advisors were able to perfectly differentiate the brand of their advisory firms by relying principally on language like “fiduciary”, “knowledgeable”, “trustworthy” to distinguish themselves from the insurance company salespeople and broker-dealers who are often poorly trained. But thanks to the rapidly growing number of CFP professionals who provide fiduciary best-interests advice based on their years of experience in providing customized financial planning advice, such terms have been rendered ineffective. At most, they only describe table stakers – a bare minimum criterion that any financial advisor is expected to possess.

With more and more advisors continuing to move into fiduciary advice while pivoting away from products/services, it must be challenging for talented advisors to deal with this crisis of differentiation and market themselves in a way that stands apart from the rest.

Financial advisor marketing best practices

SEO

People with a direct need for financial advice search by tens of thousands with nearly 20,000 searches for terms related to “best financial advisors near me” per month. It’s crucial to optimize your website and achieve positive SEO results by leveraging the intent of the potential customers to find you as their financial advisor and channeling them to seek your services. Simple SEO tools and techniques can be beneficial for financial advisors to develop their very own leads through organic internet searches.

Branding message

Leverage the best marketing solutions to develop a brand message if you wish to hone your existing client segment. It’s important to invest the effort, time and resources required to develop a genuine, relevant and compelling branding message. This will help financial advisors find their marketing efforts to be way more effective because it will serve to highlight their specific value proposition to a specific clientele and ultimately enable you to spearhead the competition and grow a successful practice in a highly competitive marketplace.

Networking

Networking translates to building relationships that establish you as a credible expert in the community. Implement strategies that will help you reach potential clients and connect with the members of your niche. You can help small businesses connect with other businesses, hosting various events like an expo featuring local businesses that provide products and services to a common target and creating an “insider’s” directory of businesses that your clients trust. Effective networking means providing others value.

The financial planning industry has witnessed significant growth. To gain a formidable share in this rampantly growing market, financial advisors must establish themselves as trusted partners in managing their client’s assets and effectively market themselves to potential clients. Needless to state, with the ever-increasing awareness on the significance of fiscal security, it’s imperative that financial advisors are more aggressive in creating opportunities for their firm. With stellar marketing solutions, you will see the difference in no time.