According to Bloomberg.com, “seven percent of financial advisors have been disciplined for misconduct,” all of which put client accounts in jeopardy. For an industry that is reliant on client trust, this is troubling indeed.
As the owner of a financial advisory, or as a lead financial advisor, branding and thought leadership among individual financial advisors is crucial; not only to overall business success, but to gaining or strengthening client trust and market share of voice.
Enter in: Digital Marketing
Digital marketing encompasses a vast array of strategies and tactics. Ensuring you’re not simply spinning in a hamster wheel, but actually making strides toward your goal is paramount. Here are key considerations when implementing digital marketing in the financial industry.
Establish and Retain Trust with Blogging
Op-ed pieces, articles and blogs are published daily about ‘red flags to watch out for with financial advisors’ and other similar topics, and one of the most powerful digital marketing tools in a financial advisory firm’s arsenal is regular blogging.
This provides a platform and voice for each financial advisor within the firm. Humanizing what can be considered a cutthroat industry via blogging will serve to build client trust and act as counterbalance to the clumping together of all financial advisors as bad eggs.
Providing good advice and transparency also helps build trust by showing clients you’re catering to their best interests, and you’re comfortable tackling tough issues. Keep an open channel, be honest and timely about regulations and changes. Speaking of which…
ABC: Always Be Compliant (and brag about it on social)
The financial industry is full of regulations and compliance issues. Nothing hurts an advisory business faster than falling into the above mentioned seven percent.
Maintaining your firm’s compliance is almost as significant as the financial advice you provide daily to clients. Using digital marketing and reputation management to stay on top of any issues and addressing them head on is the best way to mitigate harm to your firm.
Additionally, using traditional digital marketing and social media channels to boost positive reviews from clients will serve to amplify your firm’s financial advisors.
Be Open-Minded About Digital Marketing Tactics
At the end of the day whether you’re investing for a retiree, consulting with someone setting up a 401K for the first time, or speaking to new parents about planning a college fund, they all have one thing in common: they’re people.
People like being engaged and ensuring they understand their investment fully, in a way that is also entertaining, can set your financial advisory firm apart.
Investing can be a tedious, and often confusing, subject. Using unconventional digital marketing tactics can bring this topic to a significantly broader, more diverse audience in a way they’re sure to understand.
Swim Against the Current With SEO
According to reuters.com, there are approximately 285,000 U.S. financial advisors as of 2014. Ensuring you’re found among the thousands of other advisors means creating a strong voice for each of your firm’s financial advisors by having a strategic SEO plan in place.
This includes refreshing meta data, being mindful of keywords and their placement, adding fresh content consistently, checking for broken links, being mobile-SEO friendly, and more. Learn about seven specific SEO pitfalls to avoid here.
Make Digital Marketing Central To Your Firm’s 2016 Strategy
We’re almost at the end of Q1, but it’s never too late to jump-start your digital marketing strategy. Whether you’re adding a new advisor to your financial firm, or you’re an already established business with thousands of advisors, digital marketing can help to gain client trust and bring new business your way.
Learn how you can get started today by calling 866-397-7962 to speak to a Synchronicity Account Manager or learn more about our digital marketing services online!