Explore the best practices needed to master your marketing and drive revenue potential for your advisory business.
We firmly believe that by expanding your reach, you could help more individuals grow their wealth and prepare for retirement. Marketing has emerged as a pivotal tool for financial advisors to drive revenue and thrive in the digital era. However, we also recognize that the complexities of digital marketing can be daunting. We’re here to help!
Do you want to attract more high-quality leads, increase your conversion rate and generate more revenue? If so, you need a marketing plan tailored to your specific needs. With the right marketing solutions, you can improve customer satisfaction and build a reputation as a trusted advisor.
Financial advisors spend an average of 3% of their revenue on marketing. Yet 56% of advisors say they receive no clients from their marketing efforts. (Cerulli Report)
In this blog, we’ll explore the best practices needed to master your marketing and drive revenue potential for your advisory business.
Research Your Target Audience
For marketing efforts to resonate, understanding your audience is paramount. Identifying a well-defined target market and potential clients paves the way for precision in strategy. Delving into the characteristics of your intended audience empowers advisors to develop strategies that genuinely connect. This connection ensures that services are presented to those who stand to benefit the most.
How do you conduct target audience research?
Design a Website that Converts Visitors into Customers
With thousands of financial advisors vying for potential clients’ attention, ensuring your website stands out is essential. Every element of your website should be optimized to convert leads into customers. For example, your homepage should be clear, concise and easy to navigate. Target your landing pages to specific audiences and offer clear calls to action. The CTA button verbiage should be clear, concise and action-oriented, making it clear to users what will happen when they click, such as “Schedule an Appointment” or “Call Now.” And your blog posts should be informative and engaging, with links to your products and services.
Elevate Your Online Visibility
Search Engine Optimization (SEO) is the cornerstone of online success. The first step to maximizing your SEO strategy is understanding why it matters. A strong SEO strategy can help your business achieve long-term success by driving organic traffic, generating qualified leads, building brand awareness and establishing credibility and trust with potential clients. The #1 result in a Google search has a 10x higher click-through rate (CTR) than the #10 result. This means that if your website ranks toward the bottom of the page, you’re missing out on a significant amount of potential traffic.
How do you optimize your SEO?
Follow a Content Marketing Strategy
Research shows that 63% of people said insightful and educational content from a financial advisor would make their marketing stand out. So, if you’re not already harnessing the power of content marketing, now is the time to start. A diverse array of content types — from social media posts and blog articles to ebooks, videos, infographics, podcasts and webinars — can elevate your online presence and thought leadership.
Content marketing is a proven way to generate leads for your business. It’s 3x more effective than outbound marketing and costs 62% less. Once created, content can live on and generate value for your business for years to come. This means it can continue to get views, nurture prospects, attract attention, build your brand and bring in business.
Modern marketing has revolutionized the way financial advisors approach revenue generation. The key lies in embracing innovation, staying ahead of the latest trends and continuously seeking ways to provide exceptional value to your clients. If your current marketing efforts don’t resonate with your target audience, you risk losing customers. And when customers leave, they take their business with them.
Ready to elevate your marketing efforts to unleash your revenue potential? Our team is here to do ALL the work for you with our FINRA-reviewed drip campaigns, email newsletters, social media marketing and more. Contact an Executive Marketing Consultant by phone (844) 949-9497 or visit our website to learn more.