Breaking Down Seamless Marketing for Financial Advisors

  • June 24, 2022
  • Posted By: Robert Duke
  • Category: Business Marketing

One of the essential pillars of the finance industry, financial advisors aid you in money management and other personal financial matters. Handling one’s finances can be quite tedious, and it is easy to lose track of miscellaneous expenses. To put things into perspective, more than a third of Americans have zero retirement savings.

Although financial advisors are smart by nature and good at their job, they aren’t so efficient at marketing themselves. With no marketing background, financial advisors are great at working in their business, not on it.

Moreover, another survey states that 56% of financial advisor professionals in the current landscape are above 50. That means they must leverage up-to-date and technology-driven marketing tactics to retain customers and solidify their business.

If you want to delve deeper into the specifics of the top marketing tip for financial advisors, read on!

Top Creative Marketing Tips Financial Advisors Can Use

Companies don’t realize this, but they need a financial advisor to track all their wealth. Although, it is your job to market yourself appropriately and make them realize this need.

Hence, here are some of the top creative marketing tips for financial advisors to boost your ROI instantaneously.

1. Be a Successful Resource Matchmaker

Being a financial planner makes it impossible to be an expert in every aspect of financial planning. So, take this as an opportunity to provide more value to your customers and prospects.

Since the industry is noticing a trend shift from overall wealth management to longevity planning, you can help your clients and prospects by inviting longevity experts to the panel. Introduce them to appropriate aging, healthcare, transporting and caregiving resources.

For instance, you could put together a panel including geriatric care managers, certified aging-in-place specialists, elder law attorneys, assisted living facility directors, etc. and have them answer any doubts your attendants might be having. You can conduct this session online as well if you like.

2. Host Your Very Own Version of a Genius Bar

Apple has been quite an influential company in the past few decades, setting new marketing trends as they come. So, time to borrow some strategies from their playbook. How about hosting your very own genius bar? Well, what is a genius bar?

In essence, a genius bar is a technology-based event where you can walk in, interact with an apple genius, and solve all your tech doubts. Although this strategy is a little out there, entertain this thought for just this once.

You could have your own version of the genius bar and invite your clients (along with guests). Technology poses hurdles to people from all age groups, so any help you provide won’t go unnoticed. Also, treat them with tech tips and tricks as a bonus.

You could even host a virtual event if you please. You can use this strategy to get your name out there because people will remember and appreciate the effort you put into solving a problem for them, no matter how small.

3. Conduct a Lunch and Learn

Since you have to market yourself, you can grab your audience’s attention when they aren’t running around busy.

You can offer short sessions at nearby businesses or establishments, enabling you to spread awareness about financial advisory practices while the participants are having lunch.

This can be in the form of a short 10-20 minute presentation, covering all topics a potential client would like to know about. That way, you won’t disrupt their day by taking up too much of their time.

4. Host a Webinar or a Seminar

A lunch and learn isn’t the only platform you should use to interact with prospects. Seminars and webinars are more effective ways to reach a potentially larger audience base. In essence, they are both the same thing.

The only difference between the two is that the former is conducted offline, whereas the latter is online.

Now that the pandemic has brought around the trend of the hybrid workplace, you could also conduct a hybrid seminar. Hybrid seminars are incredibly effective and engaging since they combine the best of in-person and online elements, tailoring the perfect experience for your audience.

Make sure you conduct a seminar or webinar for a minimum time frame of 30-45 minutes. In this, cover all topics necessary under a particular theme of choice.

5. Get in Touch with Journalists

Taking a more unorthodox marketing approach, get in touch with nearby journalists from local newspapers. They will be glad to cover interesting happenings in the area or just have a financial expert over to answer some common money management questions.

Get in touch with a couple of them to see if something clicks. If it does, it will help you put your name out there. Moreover, this marketing technique is also free of cost and targets everyone in your immediate surroundings.

6. Write an Ebook, Maybe?

If you have thought about writing an Ebook in the past, go for it now. Take advantage of this rampant digitization and release an Ebook with immense value for your niche. Although this process might take up a lot of your time and money, it will help you make a mark. A financial advisory book can set you apart from your competitors with ease.

Moreover, people can directly refer to your book to get a better idea about your various areas of specialty. Once you highlight your expertise, the prospects approaching you are already filtered and hence add to your target audience.

7. Send Out Regular Newsletters

A lot of financial advisors often undermine the importance of sending newsletters. They don’t realize that newsletters help your clients keep your name in mind. So, if at any point they need to make a change in their investments, they will always think of you first.

You must remember that if you aren’t regularly sending newspapers to your client’s inbox, someone else is.

This is especially true at times when the market is already volatile or uncertain. Make sure to send all your prospects newsletters during this period since it will be matched with a higher response rate.

Also, ensure that you successfully convince your client to indulge in productive activities, such as beneficiary reviews, document clean-up, budget updates, etc.

8. Think About Being a Sponsor

One of the best ways to get your name out there is via sponsorship advertisements. People don’t realize this, but sponsorship advertisements have immense untapped potential. You could sponsor a sports team with your name on every team jersey, boarding, and prop.

With an abundance of sports fans and supporters everywhere, you can tap into a huge audience and garner attention. If you can wiggle your way to a national advertisement, there is nothing like it.

Although, if you don’t have the budget for that, you can always try and target smaller audiences. For starters, you can target a local youth sports team and effectively elevate your business to a household name in your city. Also, this will be interpreted as goodwill towards the community, portraying your business in a good light.

Wrapping Up

Financial advisors have been around for a while, but not many of them are well known. Their presence has been relatively minimal till now, but they must bring out the big guns if they want to survive the current financial landscape.

You must leverage technologically relevant and up-to-date marketing strategies to surpass your competition. The marketing tips for financial advisors mentioned in the above article will help you improve your marketing efforts and make them more efficient for a higher conversion rate.