6 Effective Marketing Techniques for Your Financial Advisory Business

October 13, 2021 Content Marketing 1 comment

Financial advisers have always been in demand, whether for large corporations or personal businesses.

Not everyone is an expert at managing or overseeing finances which is why it’s so important that financial advisors are readily available.

However, the competition is extremely keen out there…

Yes, there are tens of thousands of advisors out there, so you need to be able to stand out.

Marketing your financial advisory business is vital to your business’s growth and success. Without a structured plan for your marketing campaign, you could find your business struggling to attract new customers.

You’re not a marketer, though. You’re a financial adviser.

So how can you be sure your campaign plan is going to succeed?

Effective marketing techniques play a huge role in structuring a marketing campaign. By employing just a few tricks, you’ll be ready to compete in the big leagues.

#1. Know Your Industry

Before you can sign on a new client, you have to first win them over. This means showing them that you’re an expert in your industry and you know how to meet their needs. You need to market yourself as an expert that no one else can compete with, even if you’re just starting out.

Part of knowing your industry is also knowing your competition. Look around at how other financial advisory businesses are marketing themselves. What do they mention? What approach do they use to win customers over?

Your competition plays a key role in your marketing campaign. It’s very likely that they’re trying to reach the same people you are and offer the same service that you do.

Learn from them and make sure your own marketing plans are able to compete. Don’t forget to adapt and upgrade your campaign over time.

#2. Speak Plainly

You understand all the technical terms and key phrases that are involved with finances, but your customers don’t. Imagine if you were looking for someone to help you out and they only used industry-specific phrasing. It would quickly grow frustrating and you’d look somewhere else.

Your customers don’t have the same knowledge as you. That’s why they need you.

When you market your business, it’s important to remember to speak plainly. Your ads should be easy to understand and written clearly. Your website should explain any terms that aren’t common knowledge. If an average person wouldn’t understand what a specific word or concept means, avoid it.

Speaking plainly helps potential clients relate to you better. By doing so, they won’t feel intimidated and are much more likely to turn to your business.

#3. Optimize Your Online Space

The online aspect of your business is huge! Even for local clients, your business’s online presence plays a major role in how likely a client is to hire you for financial advisory service.

If your website is impossible to navigate or clearly outdated, it’s only a matter of seconds before a potential client goes somewhere else. As part of your marketing campaign, you should take the time to improve your website and guarantee that it’s optimized.

Add intuitive navigation. Ensure your landing pages load quickly. Regular updates are also important.

One of the simplest ways to create your business’s online space is with Google. Google offers a My Business page where you can add all your information and ask for reviews. With an up-to-date My Business page, you can also take advantage of Google’s local listings.

Whenever a potential client searches for financial advisors near them, Google will pull up your business. You’ll need to include a physical address for clients and follow some SEO guidelines.

It’s also important that you post valuable content about financial advisory services so your clients and prospects feel like visiting your site is worth their time.

#4. Use Social Media

Image Source: Pixabay

What’s one thing that just about everyone in the world has access to? Social media.

If you haven’t already taken advantage of it, then now is the time to start. Even if you don’t know where or how to start a social media page, there’s never a bad time to learn!

Creating a social media page for your business is a quick way to reach clients on the platforms where they already spend a majority of their time.

You can create posts and share them across different apps. You can also add quick links to your website.

There’s really no better place to promote and advertise your business than on social media.

Unlike traditional advertisements such as billboards and radio ads, social media marketing can reach anyone.

No matter what a person is in the world, they can have direct access to your business’s information and reach out to you with ease.

Social media can allow you to share glimpses of what your business can do. Upload a short video with your top three financial tips. Share a post with reviews and comments from previous customers.

You can even hold small contests to see who knows the most about finances and get people excited about what you do.

(Read more about social media marketing for financial advisors here.)

#5. Ask for Reviews

Your existing clients can help you market your business for free. All you have to do is ask them to leave you a review!

Make it easy for them by providing an easy link to where you want them to share their comments and experience with your business. Reviews can also be left on your Google My Business page.

84% of your future customers will read reviews. Hence, you should let that determine whether or not they choose your business.

Asking for reviews can play a role in generating new leads. Filling your Google My Business page with positive reviews can help you earn leads in Google searches.

If your Yelp listing needs a boost, you can also ask your clients to leave their review there. It can be possible to list different reviews on different platforms depending on where you want to see more leads generated.

#6. Track Your Leads

When you’re marketing your business across multiple channels, it can get difficult to keep track of where you’re gaining leads and where you need to improve.

With a good tracking system, this becomes a lot easier.

Source tracking can be one of the best ways to keep an eye on your leads. It will keep track of where your leads come from, whether they’re offline leads or online leads.

With source tracking, you’ll be able to see information regarding clients that contact your business directly. One of the best parts about source tracking is that it’s easy to integrate with Google Analytics.

Google Analytics is a free way to keep track of your marketing campaign’s success. It links information about your Google My Business page and any paid Google Ads. Creating a Google Analytics account is easy and convenient. If you don’t look into any other tracking method, consider Google Analytics.

Have Fun With It!

The best marketing practices are those that are creative and fun, so don’t get too carried away in the logistics and technicalities of it.

You don’t need to follow a perfect script, but employing some effective techniques like the ones above will help guide your business in the right direction.

By Walter
Founder of Cooler Insights, I am a geek marketer with almost 24 years of senior management experience in marketing, public relations and strategic planning. Since becoming an entrepreneur 5 years ago, my team and I have helped 58 companies and over 2,200 trainees in digital marketing, focusing on content, social media and brand storytelling.

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