Financial advisors are at a bit of a crossroads. They provide a valuable service, but since the Great Recession, trust in Wall St. and financial advisors have plummeted. In fact, one study showed that only 20% of investors fully trusted their financial advisors.
In an industry that relies on trust to acquire new customers how does a financial advisor develop that trust?
One of the best ways is to provide potential customers with answers to their questions for free. Yes, that may seem counterproductive. If you provide too much information for free, why will they need financial advisors in the first place?
Most people are too busy to be on top of every aspect of their financial future, including keeping up with trends, stocks, and savings. That means they need answers, but also guidance. As customers are performing more research before making a decision, the buying process has been extended. Are they more likely to buy from companies that provide the information they are seeking, or from a company that is constantly pushing their own products and services?
Customers are performing more research before deciding on a #financialadvisor. Develop trust through #blogmarketing #inbound @mikedobrien
What is Inbound Marketing?
Inbound Marketing is marketing for the Internet age, when customers are ignoring advertisements and performing research on their own. That means companies that provide information, answer questions, and develop trust are more successful than those that don’t. At it’s core, inbound marketing is the creation of content specifically tailored to different points along the buying process, the promotion of that content to generate leads, and the analysis of the data to double down on what aspects are working and restructuring those that aren’t.
Inbound Marketing for Financial Advisors
Inbound Marketing takes time, but the results are more sustainable. When you release a television or radio ad, at least 90% of your audience doesn’t care. Another 5% changed the station. By providing potential customers with information they are seeking, you are targeting warm prospects already searching for similar services. The ultimate goal is for your website to be a sales rep for you, increasing traffic, funneling visitors through the buying process, and generating leads. Best of all, according to Hubspot, inbound marketing costs 62% less than traditional marketing and generates three times as many leads.
However, because inbound marketing doesn’t provide immediate results, it is imperative to create a strategy and stick to it. You are laying the foundation for continued success, embracing a strategy that may not create record-breaking results in the first quarter, but will allow your company to continue growing for years and years.
How Financial Advisors Benefit from Inbound Marketing
- Create Buyer Personas
- Analyze Buyer’s Journey
- Develop keywords and pain points
Create Targeted Content:
- Blogs: Generate traffic
- eBooks and whitepapers: Generate leads through landing pages
- Keywords based on specific point in buying process
- Leverage content to funnel visitors
- Provide content (blogs, eBooks, whitepapers, etc.)
- Make great first impressions
- Don’t sell, simply provide information
- CTAs on bottom and sides allow you to funnel visitors
- Use social media for free exposure
- Post links to your own content regularly
- Post content from others that helps your target market
- Use emails to stay top-of-mind
There’s no magical formula for your website to rank highly for all, or any, of your targeted keywords. However, by leveraging social media to drive more traffic and CTAs, landing pages, and premium content to generate leads, your website will funnel visitors through the buying process.
Financial advisors are faced with a serious issue when it comes to developing trust, especially amongst millennials who are now the largest demographic in the country. To regain that trust, more and more financial advisors are using inbound marketing to create content, promote it, and analyze the data to restructure as needed. Though it is not going to provide immediate results, those financial advisors who don’t provide this content to develop and nurture leads and relationships, will continue to struggle obtaining new clients.
Stay ahead of your competition! Subscribe to my newsletter to get the latest inbound marketing trends and techniques delivered straight to your inbox!
Continue reading to learn how inbound marketing can help small businesses.
Create Your Story, Promote It, and Perfect Your Strategy
How to Choose a Digital Marketing Agency
Benefits of Inbound Marketing for Small Businesses
SEO vs. SEM
What is Inbound Marketing?
What is a Landing Page?
SEO and Optimized Content
Inbound Marketing Services
Social Media Marketing
Generate more leads through properly structured content. Copyright Mike D. O’Brien 2016