Why Financial Advisors Need Digital Marketing Services
Coming up with an effective marketing strategy for a financial advisor is not an easy task, especially for a beginner. You’ll need an experienced team that specializes in digital marketing services to boost your brand’s profile and increase conversion rates.
No matter what business you’re in, there will be competitors offering similar services and competing for market share. Standing out from the pack will be an uphill battle if you do it all on your own.
Marketing isn’t something you can learn overnight. It requires both skill and intuition that can only be developed through many years of experience. There are also many different aspects to digital marketing that need to be mastered individually.
To have a better understanding of the issues and difficulties involved, let’s take a closer look at some essential marketing disciplines and how each one affects the growth of your business.
Digital Branding
Digital marketers can help reinvent your brand and give it a new voice that will appeal to a wider audience. This involves reinventing all aspects of your external communications which includes your website copy, advertising, presentations, emails, and social media campaigns.
Having an outsider’s perspective is extremely important because it helps you identify gaps in your brand image and online presence that you won’t be able to notice.
SEO Strategy
Websites that focus on financial topics have a much harder time reaching the top of search engine results compared to other industries. Search engines put websites that deal with people’s money and finances under more scrutiny. It requires financial websites to have high levels of Expertise, Authority, and Trustworthiness or (E-A-T). This ensures that people have access to accurate information and don’t get misled by websites that are simply trying to scam them out of their hard-earned money.
It takes a lot of work to increase your website’s credibility if you’re starting from scratch. You’ll need to create outstanding content and get other websites to link to your pages, so search engines can identify your site as a credible source of information.
You’ll also need to come up with a solid local and mobile SEO strategy so that you can be on the same playing ground as your competitors.
Search Engine Marketing
Aside from working on improving your organic search rankings, you’ll also need to allocate resources for Paid Search and Pay-Per-Click campaigns. This lets you stay ahead of your competitors by getting your links and pages in front of more people.
Creating an ad is easy enough, but making one that people will want to click on is significantly more difficult. If you do it on your own, you’ll have to do lots of experimentation and A/B testing – which could take years to get right.
PPC marketers have years of experience under their belts and already know how to create effective ads. In most cases, it will only take a couple of weeks or months for you to see a significant jump in site traffic.
Copywriting and Content Marketing
It’s not enough that people actually click your links and visit your page. Every page on your website has to deliver the right message that will result in more leads and conversions. You’ll need an amazing copywriter or even a team of copywriters to write all the web copy for your landing pages, sales funnels, blog posts, and homepage. This requires experience in the finance industry, as well as a solid understanding of marketing and sales.
You’ll also need to come up with a comprehensive content marketing strategy and have a team who can regularly pump out blog posts, articles, newsletters and white papers that your target audience will find tons of value in. This will not only drive up traffic to your website from new visitors, but will also help nurture relationships and build trust among your potential leads.
Email Marketing
Any website that offers a product or service should have a mailing list. It’s still one of top digital communication channels, and thus, a huge source of leads and conversions.
A good email marketing campaign will be able to keep your existing mailing list subscribers interested in your brand and offerings for years, and not just relegate your emails to their spam folders. This not only boosts conversions significantly but also improves brand awareness.
Your mailing list subscriber base is an extremely valuable resource filled with leads who are already interested in your offers. If you allocate enough resources to it, you can maximize its true potential.
Social Media Management
Social media marketing is extremely effective at growing your audience and increasing brand awareness in a short amount of time. Many new businesses thrive purely through their social media presence, so it’s important for you to address this marketing channel effectively.
Establishing a solid social media presence takes as much time and effort as creating and developing your brand and website. Creating a Facebook, Instagram, Twitter, LinkedIn and Youtube account is the easy part.
You’ll also need to create content and regularly post on all of your social media pages if you want to build and nurture a significant number of followers. This means you’ll need to come up with a separate content strategy and tweak it as you go since there’s immediate feedback for everything that you post. If you don’t react fast enough, you’re going to drop off of people’s social media feeds quickly.
You’ll also need to quickly respond to questions and comments so people can see that you care about your brand’s reputation. This helps strengthen people’s trust in your brand. If any negative feedback comes up, you need to be able to appease the public’s concern with good PR tactics.
To do all of this effectively, you’ll need an experienced social media manager who can handle all of your profiles full-time.
Data Analytics and Reporting
Measuring the performance of your different marketing campaigns is a key factor to success. However, to access your performance data and be able to efficiently interpret the results, you’ll need to pay for different tools that will do the heavy lifting for you.
This can easily cost several hundred dollars a month in subscription costs. Most of these tools are only available as SaaS or Software-as-a-Service products. Knowing which tools to use and learning how to properly use them is another hurdle you’ll have to deal with.
When you hire a digital marketing team, you also pay for their expertise in using these tools, and their ability to interpret the data. They’ll also provide you with regular performance updates and use presentations and dashboards that are much easier to understand.
Final Words
An experienced digital marketing team brings a lot to the table. Just going through this short list, it’s quite obvious that it’s well worth the money to have professional marketing services. It’s best to choose a team that specializes in your niche if you want to get guaranteed results. This allows you to allocate more resources to better serve your existing client base and improve your company’s reputation.