Marketing for financial advisors seems to be split into 2 camps: (1) “old” and (2) “new”. Old marketing is the type that was around before the internet: seminars, networking, shaking hands and kissing babies. New marketing is everything internet: online PPC ads, social media, and SEO.
Well what about mixing the two?
Whether you’re a financial advisor trying to land that first big client through a seminar or a webinar (the online version), it just makes sense to use both old marketing and new marketing together
(Wondering about compliance or FINRA? Read this post which covers compliance in financial services).
There’s no one secret sauce to financial advisor marketing. As you wonder how to get clients, realize that your business is a relationship business. Even just one client with enough money could get your AUM to a level that sustains your firm for the long term.
And so, like with fish… there are many types of clients, and they vary based on location. A seminar can be a fantastic way to get your business in front of the people most likely to be your anchor client. It’s up to you to market that seminar as best as you can.
Why Listen to Me about Financial Advisor Marketing?
While I’m not a financial advisor by trade, I’ve been producing content about finance since 2013. I built an entire business based on organic SEO—selling financial advice through informational products online.
I tend to know the mindset behind the people who are seeking financial help, because I get emails from these types of people almost every single day. They find me through a search engine (Google or iTunes), and consume my content until they naturally become paying customers.
Over and over again, I hear the same messages:
- “I’m overwhelmed by the jargon of the finance industry”
- “I wish they taught financial advice in school”
- “I wish I started my investing journey earlier”
These are people begging for experts like yourself to guide them through the struggles of personal finance and investing.
Some clients will want to be more hands-on than others. These are the types that tend to buy my own information products. Other clients will just want a financial advisor to take care of it all, and become out of sight, out of mind.
Whether your eventual clients will fall into camp A or camp B remains to be seen, but one thing is for certain: if you don’t have a marketing effort in place, you won’t find clients very easily.
And all of the frustrations behind the confusion of financial planning leads us back to the solution, and the reason why seminars have historically been so popular:
–The people seeking information about personal finance and investing are the ones most likely to want and need a financial advisor.
–These people want to know that you are the expert who can solve their need.
–The way to show that you are an expert is by sharing your expertise.
Seminars are a perfect way to showcase your expertise and educate your prospects.
Why SEO and a Seminar Are Basically the Same Thing
The reason I suggest coupling SEO with a seminar is because the two are one and the same.
In a seminar, you are providing the attendees with valuable content and information to help them pursue their financial goals.
A piece of online content like a blog post does the exact same thing.
With a seminar: you get the stage to showcase your abilities and knowledge to the attendee, and are the natural “next-step” solution to their problem.
Online: your website is your stage and the right marketing strategy can also lead the prospect through a natural progression into your services.
What’s great about a seminar is that you are making an event out of it.
You are forcing your prospects to take time out of their day to sit down and pay attention, and that kind of thing works.
The Big Difference between Seminars and SEO
Now let’s get to the root of what makes seminars and SEO different, which also happens to show how they complement each other so well.
If seminars are the crowded concert events that bring attention from passersby, SEO is like the billboard on the side of the freeway—constantly drawing consistent attention to a message.
Why not use that billboard to promote the next big event?
One easy way to do this on your website is a with tool like the countdown timer from Convertful (free for small websites with 3,000 monthly unique visits or less).
I’m not affiliated with this company in any way, I just think it’s a cool idea to market a scheduled event and bring urgency to those who want to participate. A tool like this on a website can instantly grab the reader’s attention and display to them what you’re trying to promote the most: an informational seminar held by a respected financial advisor (you) who empathizes with the struggles that most people have with their finances.
Not to get too technical with the marketing jargon, but that’s a fantastic way to lead a prospect through a sort of funnel to get them to know, then like and trust you—naturally and over time.
Bridging the Gap between Local (Seminars) and Digital (SEO)
You might be thinking…
Well, SEO sounds great and all, but I’m only looking for local clients to grow my firm.
Let me ask you this. Say you were able to land the contact information of the one client who would sustain your business model, a $1 million or $2 million client. Even with a 1% AUM fee, is that potential for $10,000 recurring worth a flight to visit that prospect, or better yet—a seminar featured in that prospect’s city?
I guess that’s a matter of risk tolerance, but the potential ROI might make it worth a consideration.
What I try to stress to business owners and financial professionals interested in SEO is that digital marketing and local marketing aren’t mutually exclusive.
A great way to build a website that attracts local searchers is by building the website through location agnostic SEO.
The search engines give preference to websites with online credibility (as I explained in my post about backlinks), and so if anything, local marketing and digital marketing enhance and compliment each other exactly how seminars and SEO can do the same. (Salt and pepper, salt and pepper…)
But outside of all that, and many financial advisors are doing this already, a great way to combine seminars and SEO is by adding a webinar component to your seminar.
This could be easily done using the video on a smartphone, and a simple stand with a microphone attached.
You could implement a variety of online tools to help with the execution of the webinar (even a simple Facebook Live can create fantastic engagement).
You’re already producing content in-person, why not share that to the online world as well?
This is just another powerful way that you can take the marketing you are already doing and applying it to the digital world, online followers, and the interested local prospects who can’t make your event in person.
Thanks for Reading. Before you go…
I hope I’ve given you much to think about without it feeling like a firehose. Hopefully you got at least 1 tip out of the whole thing, like a good seminar would do.
I want to leave you with a parting challenge.
Take a hard look at the business model you are presenting to clients. In essence, you are asking them to trust you with their finances, and outsource that expertise and responsibility.
If you believe in that model, do you also practice what you preach?
Are you willing to also outsource the problems that most affect your business, such as your marketing and client acquisition responsibilities?
If anything I’ve said in this post makes sense, I’d like to at least have a discussion.
Whether you’re in my neck of the woods or not (Raleigh-Durham area), let me prove to you how I’m willing to bridge the gap between my SEO efforts and local marketing.
Reach out to me (Contact form) and let’s talk about how to implement SEO to compliment your strengths, and tell me how you found me through this blog post. Let’s talk about your marketing budget, and I’ll fly to your place of business (practice what I preach) if the fit is right.