Key digital marketing trends advisors must embrace to drive revenue
Experts predict an incremental move toward “normalcy” near the end of the second quarter of 2021, but that particular word has a new definition,…
Experts predict an incremental move toward “normalcy” near the end of the second quarter of 2021, but that particular word has a new definition, especially in industries with high-trust, high-touch client interaction. Fortunately people have quickly adapted to and expect virtual service in all areas of their lives. This will not change even as the physical social realm becomes a safer place.
Digital communication has long been imperative for financial advisors, but now it is a non negotiable. Advisors who are strategically communicating authentically through multi-channel touch points will have a competitive edge. And, those who invest time and money in digital marketing will have a personalized conduit to amplify their own brand and expertise to clients and prospects. So what’s new that advisors need to add to their digital marketing arsenal in 2021?
From the most basic level, advisors need to communicate across multiple channels. Website, email, social, and online events such as webinars should be coordinated, carry a consistent voice and all work together to accomplish the goals of the advisor’s business. Email continues to be a critical component of a successful communication strategy, with consistency being the key. Sending clients and prospects a monthly or weekly newsletter with relevant content will assure them that advisors have actionable advice on topical news and market conditions.
Social media shouldn’t be an afterthought, but rather a way to share meaningful content, build thought leadership and ultimately drive leads. And if you don’t think social media can actually drive revenue – think again. Social engagement gives advisors an authentic voice in relating to clients and can attract new prospects.
In fact, a recent commissioned survey found that 48% of all the advisors who responded acquired new clients from social media. Younger advisors (ages 24-40) see the value in social media more than their 41 and older counterparts — 67% in the first group rely on social media to build their brand, share information with clients (68%) and 59% are adding new clients from social activity.
For the savvier advisors or those who are looking to incorporate more sophisticated marketing strategies, content marketing is critical–and video needs to be in that mix. Videos are increasingly being used to reach current customers and new prospects to help maintain the human connection during the times that in-person meetings are not possible. Advisors who get comfortable with this medium find that it’s humanizing and an opportunity to provide commentary or guidance on current trends. Videos have also been shown to increase landing page conversion rates by 80 percent.
These tasks may seem overwhelming, but the more successful advisors are adding digital marketing tools in their overall technology stack. By leveraging the power of technology, many of these activities can be automated to serve as a foundation that advisors can build upon. This frees up time for the advisor to get more creative with their marketing and ultimately, better serve their clients. When the foundation is strong, advisors have the opportunity to really enhance their brand and differentiate themselves from their competitors. In other words, advisors have the time to showcase their authentic selves.
In our digital age, it can be difficult to make that genuine connection with clients and prospects. Demonstrating authenticity and a real human side will set one apart from competitors. Advisors can have a bit of fun and be themselves all while helping clients make informed financial decisions.
An advisor’s digital footprint can make a powerful impact on attracting and converting prospects into clients. Being able to lean on technology created specifically for the financial services industry can be a huge relief to advisors as they navigate 2021 and whatever comes next. Marketing can ultimately be the difference between increased revenue or stagnant performance as the industry moves into a new era.
