Marketing for Financial Advisors – 29 Strategies to Skyrocket Your Career

Marketing for Financial Advisors

Effective marketing for financial advisors has become a crucial factor in achieving business growth.

Over the last five years, the financial planning and advice industry in the US has steadily grown by a rate of 4.8% to reach a total revenue of $60 billion in 2019. Similarly, both the number of employees and the number of businesses are continuously growing, making it a considerably competitive industry.

Therefore, to gain a good share of this market, financial advisors need to look for nontraditional and out of the box ideas to step up their marketing strategies and promote their businesses effectively.

Here we’ve compiled a list of 29 marketing strategies that can supercharge your financial planning career.

1. Create Your Business Goals

This has to be your first step. Setting targets for your business is the key that will make all your other marketing and business ideas fall into place perfectly. It will also give you a direction and a means to track your progress.

Your goals must be measurable and realistic such as the number of new clients you will add to your client base by the end of the quarter.

2. Know Your Target Market and Determine Your Niche

You can’t afford not being able to perfectly describe your target market these days. You should be thoroughly aware of both the demographics and psychographics of your target market. The demographics include things like age, gender, area, profession, etc. while psychographics refers to the way the people in your target market think and feel. 

You can’t just say that you market to everybody. Instead, you’ve got to determine your niche. Contrary to how it seems, having a niche doesn’t narrow down your business opportunities. In fact, it adds more value to your business by adding quality leads. You will speak their specific language and deliver the most relevant content.

3. Create a Website

Google local search statistics show that a whopping 97% of people search online to find a local business, and 88% of consumer searches result in a call or visit to the business within 24 hours. Therefore, an online presence can be an extremely important business asset if managed properly.

There are plenty of resources out there that can help you design the perfect website for your business. A striking homepage, strong and well structured ‘services’ and ‘about us’ pages and easy-to-access contact information along with social media accounts are some important things to consider when creating your website.

4. Focus on SEO

You’ve got to master your SEO if you want to flourish in the competitive and crowded financial advice industry. So it’s important for you to learn how Google works and what exactly search engine optimization is.  

Financial advisors must focus on SEO to make their websites more visible and easily accessible to potential leads

By picking the top ranking keywords, generating fresh and useful content regularly and using external and internal linking, your website can become more visible and accessible to potential clients.

5. Understand What Motivates Your Clients

Try to connect with your clients on a deeper level and truly customize your services according to their needs and aspirations.

For example, for a lot of people, financial investments are about taking care of their family’s future. So when you’re talking to them, focus on how a certain investment plan can help in funding their children’s education, post-retirement life, weddings, etc.

Another thing to remember is that a lot of people either don’t know or simply don’t want to go into the nitty-gritty of financial planning and investment. You have to simplify concepts and explain investment plans in plain language.

You should build a rapport with your client and try to get them to open up to you. Find answers to questions such as what their personal goals are with regards to investment, what money does for them, their personal liabilities and challenges, how involved they want to be in the planning, etc.

6. Leverage Social Media

Social media is a great way to humanize your business, reach your niche market, and deliver engaging content. Therefore, you have to have a social media marketing strategy in place.

Be on the right social platforms. The best ones are LinkedIn, Facebook, and Twitter. Post strong content frequently, engage and interact with your clients. If you have the budget, go for advertisements such as Facebook Ads.

Using the best social media marketing practices, you can significantly increase your web traffic and consequently, your business growth.

7. Generate Stellar Content

Businesses that invest their efforts in content marketing can have as high as three times greater lead generation. Therefore, the ability to deliver engaging and interesting content boosts your online visibility.

It is important to stay on top of current topics. Discuss the latest market and socioeconomic trends and how they can affect your potential clients. Also, you should know how to customize your content according to the different online mediums. For example, on Facebook, you can talk about things related to lifestyle and personal life while a post on LinkedIn should be linked to your clients’ professional lives.

Another important thing to keep in mind is that your content should keep flowing in. There should be consistency in how much you post. Scheduling your posts is crucial to an effective content marketing plan.

8. Use Email Marketing

A well-planned email marketing strategy can supplement the rest of your digital marketing efforts

A good email marketing strategy can effectively support your other digital marketing efforts. So, by creating landing pages, new deals, exit pop-ups, and financial planning packages, you can easily build a strong email subscribers list.

There are some great tools that you can use for automating your email marketing and drip campaigns such as Klaviyo, MailChimp, and SendGrid.

In addition to that, your emails should be short and ideally personalized for an individual client or a group of clients. Focus on drafting a striking a subject line and send emails consistently. Here are some great email marketing campaign ideas for financial advisors.

9. Publish Newsletters

One marketing tactic to stay in the forefront of the mind of your target audience is to publish regular E-newsletters. They’re a super easy to publish, and a very effective means to provide value and advice to your existing, as well as, potential customers.

We recommend a weekly or bi-monthly content piece that reaches your subscribers and talks about the solutions your brand could provide them with. You can also highlight your latest services, answer frequently asked questions and offer financial advice.

Before you publish your first issue, be sure to have all of the publishing aspects reviewed. These include the budget, purpose, distribution method, frequency, content, and target audience, among others.

10. Use Instagram to Engage with Potential Clients

Instagram is another excellent platform these days to promote your business. Create your account and post top-notch content to grow your following. You must also have a CTA (call to action) in the bio.

Instagram search marketing is the latest way to get new clients on board. First, you search for hashtags or locations related to the financial advice and investment planning industry. Pick out the top 9-10 photos posted in the last 24-48 hours.

Next, leave a comment on each photo. In this way, you can comment on up to 80-90 photos in an hour. As a result, you will end up reaching out to thousands of potential leads per month without paying a penny.

11. Track Traffic and Analyze Data

When you’ve perfected your digital marketing strategy, it’s time to track your progress to know how well your strategy is performing. This information will provide you with useful insights to help with business decision making. 

Track your website traffic and other digital metrics to evaluate your digital performance

Tools such as Google Analytics can help you figure out what’s working and what’s not. So, you keep refining your tactics until you start seeing growing traffic and more conversions.

12. Reach out to Journalists

Get in touch with local journalists and editors from newspapers that have a publication related to financial planning, investments, and anything that your target audience would show interest in. You can then get some articles published or start writing a weekly or monthly column on financial affairs. Make sure to add your contact information and a summary of your services within the article.

Local journalists are usually quite happy to collaborate with financial experts. They want to cover interesting stories and local happenings related to the business and finance market. So it’s going to work both ways.

13. Host a Seminar

Many local community organizations such as libraries, senior centers and more are looking to arrange a seminar on topics that are beneficial to the area residents.

They frequently allow free seminars and event market them on their own, so you just have to show up and present meaningful content covering specific aspects of a theme such as tax savings, long term budgeting, home loans, etc. It’s a great way to market yourself and gain greater connections.

14. Speak at Business Meetings and Conferences

Business organizations, educational institutes and groups like outplacement services and special interest groups hold various local events and conferences. For this reason, they’re always searching for speakers to visit their events, deliver short presentations, and do discussion groups and workshops.

These forums can be very useful for financial advisors as they get direct access to pre-qualified prospects.

15. Hold Webinars

These are alternatives to seminars and can be done online. You can reach out to your audience and educate them without having to leave your office and make any extra arrangements. This makes webinars less time consuming and much more cost-effective.

We recommend that your webinar should last for about 45 minutes to an hour and should offer valuable content along with lots of interaction.  

Webinars are an effective means of interacting with the audience and building your followers

16. Attend Local Networking Events

One of the easiest ways to meet professionals and business prospects is to attend local networking events regularly. Contact your local chamber of commerce and business owner’s association to get regular updates on what business events are taking place in your area.

Get some space in local business and trade magazines to reach out to your niche audience

17. Get Featured in Business Magazines

Take advantage of business and trade magazines and other publications in your area. Feature your articles or sponsor advertisements in such magazines.

This can help you specialize as well. For example, if you’ve identified your business niche as a financial advisor for dentists, you should look for some space in the dental trade publications. Send emails or make calls to the editors to pitch your ideas for an article that can help dentists better control their finances.

18. Be Active in the Local Business Community

Consider joining a local business association or the chamber of commerce. It will bring you tremendous networking and business opportunities. You will be well aware of small business owners, their activities, and what specific strategies you can employ to turn them into your clients.

Attend meetings regularly and volunteer on committees so that other people view you as a reliable professional by looking at your involvement.  

19. Partner with Influencers

Influencers can give your brand and services a powerful and trusted voice. Trust and credibility are crucial in the financial advisory business if you want to gain the confidence of potential clients.

Working closely with local influencers can help you to build credibility with new clients, reach greater exposure, and generate high-quality content for business promotion.

Promote your financial expertise by sharing informative content on your personal blog

20. Create a Blog

Showcase your knowledge and expertise by sharing informative content via a personal blog. This can also increase your search engine visibility. Publish posts at least once a month making use of the most trending keywords.

21. Make the Most of Online Reviews

Word-of-mouth marketing is really powerful. People are more likely to opt for your services when they learn about someone else’s positive experience with you. Therefore, you should make use of online reviews to boost your business.

Podium is a software program for online reviews management that can help you manage and respond to your reviews for more than 20 sites. You can easily control them from a single, easily readable dashboard.

Podium helps you manage your reviews and online reputation better

22. Make Your Clients Feel Special

One way to get closer to your existing clients is to cheer them on by sending out cards for birthdays, anniversaries and holidays. Your client relationship management software can automatically alert you and even send birthday and holiday greetings. It gives a nice extra touch and shows that you care.

You can also send handwritten notes on the anniversary of someone becoming your client. Any special offers or schemes to go with it are an added bonus. It helps to build a stronger, more personalized bond with your clients.

Moreover, you can send postcards to your clients whenever you travel. This is a good way to reinforce your relationship with them.

23. Sponsor Youth Sports

Parents are especially interested in companies that support youth sports. In addition to reaching out to potential customers, you also get a chance to give back to your community by sponsoring children’s activities and sporting events.

24. Join Business Mastermind Groups

These types of groups mostly have young entrepreneurs and small business owners related to specific industries who get together online. They share content such as the best practices, look for ways to collaborate and brainstorm new ideas. By joining such a group, you can mentor newcomers and form new business connections.

25. Try Podcasting

If you struggle at writing or simply want to diversify, podcasting is a fun and quick alternative that can help you deliver engaging content. You just need to spend about 30-40 minutes organizing a mind map for what you’re going to speak about.

Podcasting is an effective way of producing engaging content

26. Stay in Touch with Your Existing Clients

Do all of your existing clients know about your entire portfolio of services? Are they using less of your services than they might be in need of? If the answer is no (which is usually the case), you’ve to level up your efforts in marketing yourself to your existing clients.

Don’t ignore them and don’t be embarrassed to send regular reminders and updates on your brand and its offerings.

27. Do a Lunch and Learn Series

Collaborate with local businesses and establishments near your workplace to hold brief sessions with their employees during lunch hours. You can give 15-20 minutes presentations on specific topics to educate them and introduce your services to them.

Build your network by collaborating with local businesses

28. Host Client Events

You can make your clients feel rewarded and special by regularly holding events such as a movie night. If your budget allows, you can ask them to bring along one or two guests. This can potentially lead to new accounts getting opened, while you build a good relationship with existing clients.

29. Support a Local Team or Event

You can get your name out there by sponsoring a local event or a sports team. Moreover, it demonstrates your commitment and support for your local community. This will help you make better connections with both your existing clients and prospective clients.

Marketing for financial advisors can make a huge impact on their business. Financial advisors who want to broaden their reach and expand their customer base should try using these marketing strategies.