What separates high-performance firms from mediocre ones? There are likely several factors at play, but insights from a study issued by Capital Group might get you thinking about growth strategies. The company found that 43 percent of fast-growing firms said they are adept at branding, marketing, prospecting, and bringing in referrals.
Marketing yourself as a financial advisor is a marathon, not a sprint. In other words, it should be something you approach as an ongoing effort to highlight your expertise and build trust. Below, we’ve provided actionable strategies to help you connect with your intended audience.
1. Think Digital
You need to go where your audience spends their time. In the case of clients and allied partners, platforms like LinkedIn, Twitter, and even Instagram fit the bill. Keep these tips in mind:
- Engage with your audience: With a user base of 250 million people in the United States, LinkedIn is a great way to build and connect with your network. Use the platform to share thought leadership-focused articles, financial tips, and commentary on industry or market trends. Invite people into the conversation by asking questions.
- Share success stories: This is the right context to call out client testimonials or case studies on how you’ve helped clients achieve results.
- Experiment with formats: No one wants to read a wall of text. Instead, use videos, infographics, and podcasts to distill complex financial concepts into everyday language. Visual content can help a lot of people connect the dots faster. Plus, it shows that you’re making an effort to reach younger investors.
2. Build a Strong Online Presence
Your website is your firm’s digital front door. Make a solid first impression by creating a user-friendly and informative entry point. Here are a few key elements you should have in the mix:
- Optimize for search engines (SEO): Keyword research can help you get a grasp on the types of financial advice prospects are searching for. Strategically include these keywords in your blog posts, service descriptions, and FAQ pages.
- Showcase your expertise: Forge trust by including such elements as an “About” section, blog, and resources like e-books or tools that demonstrate you’re a partner in their financial goals.
- Prioritize mobile responsiveness: Many people use smartphones and other devices, making a mobile-friendly design a necessary consideration.
Your expertise can only go so far. You might need to consult with a family law attorney or attend formal training on divorce financial planning to build your confidence. It’s a good idea to have these professionals in your network in case clients ask for a referral.
3. Network and Build Relationships
There’s still value in physically leaving your office to grow your business. However, networking doesn’t have to be tied to a specific event. You should make a point to build relationships in person and online by doing the following:
- Join local organizations: Have a presence at your local chamber of commerce or industry-specific groups where potential clients or referral sources are likely to gather.
- Host informative workshops: Stay relevant by presenting free seminars on topics like retirement planning or investment basics.
- Collaborate with other professionals: Aligning with groups like accountants, lawyers, or business consultants allows you to tap into their networks and helps them look after their clients’ best interests.
4. Create Valuable Educational Content
Educational content helps potential clients connect the dots between their financial needs and your solutions. It’s one of the most effective ways to build rapport and influence people. Here are a few ideas:
- Start a blog or newsletter: Offer context related to industry trends, common financial mistakes, and legislation. Consistent, relevant content helps with engagement goals.
- Use video marketing: Short videos on topics like “Paying for College” or “Understanding 401(k) Plans” might resonate with your audience.
- Host webinars: Such a format is a great way to explore niche topics in-depth. You might include a live Q&A session so people feel more invested.
5. Maximize Client Referrals and Reviews
Word-of-mouth recommendations still matter. In fact, they’re incredibly valuable in service-based industries, where trust is the currency. Here are a few ways to get results on this front:
- Ask for testimonials: Satisfied and loyal clients are often willing to share their journeys to success. Highlight these testimonials on your website or in marketing materials. Recent changes in the SEC’s Marketing Rule for Investment Advisers mean you can post testimonials and reviews on your websites, given you’ve done the due diligence.
- Encourage online reviews: Platforms like Google or Yelp help you collect feedback from clients while the experience is still fresh.
- Offer referral incentives: Acknowledge clients who refer their friends or family members to you.
Growth Begins Here
Strategic marketing can position your firm as the go-to resource for financial guidance. Success happens by design, and having the right tools at your fingertips can make all the difference. Use Docupace to digitize account opening, compensation, surveillance and compliance — and see where it takes you. Click here to schedule a discovery session.
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