As reported by Investment News, 25% of financial advisors plan to add digital marketing this year, and 29% of advisors have already incorporated these channels.

Now let’s look at the stats for all small business owners – only 1 in 5 SMBs doesn’t use digital marketing yet. Why are advisors so much slower to “get with the times” compared to other entrepreneurs and small business owners?

Advisors have long been able to rely on traditional marketing techniques and word of mouth. But the industry is changing. Younger potential clients need convincing to seek out a financial advisor. One in four millennials do not trust others for financial advice. When it comes to attracting new prospects, non-referral business development is now driving more AUM growth than all client and professional referrals combined.

If you want to continue to grow your business and reach new clients, it’s important to think about integrating digital marketing into your growth strategies.

Digital marketing strategies help you build stronger, longer-lasting relationships with clients and prospects alike. A strong website, email newsletter, social media presence, and a content library provides value to prospects while keeping clients engaged.

Despite the facts, we know that embracing digital marketing can be very difficult for advisors. Because at the end of the day, you’re an advisor… not a marketer. Your skills lie in working with clients and helping them with their finances – not in running a Facebook page.

Whether you’ve tried to go digital before without success, or have been waiting for the push to get started, this beginners guide will provide the information you need to launch your digital marketing strategy for your financial advisory. If you prefer to watch a presentation about the basics of digital marketing for financial advisors, check out this broadcast.

Getting Started with Digital Marketing

The three main categories advisors need to focus on for their digital marketing strategy are:

  • Website
  • Email
  • Social media

Read on for an overview of why advisors need to invest in these aspects of digital marketing, how you can get started, and some additional resources to help you become an expert.

Financial Advisor Websites

If you want to have a business in 2019, a website is an absolute necessity. You may have gotten by for years without one, but times are changing. Your website operates as your digital business card. It helps people find you online, provides proof of value to a new prospect, and helps clients stay engaged. In fact, researchers have found that 70-80% of modern consumers search for a company online before visiting them or making a purchase. If a potential client can’t find you online, you’re missing out on business.

If you don’t have a website or your website isn’t helping you grow, you need to ensure it includes the following five aspects:

    1. Contact information. Make sure all the information is up to date and offers your preferred contact methods, including email, phone number, and address.
    2. Clear branding. Your website needs to show what sets your firm apart from all the others. This starts with a logo but is much more than that. It’s the imagery you choose, your language, how you showcase your team. If you’re unsure about your branding, this broadcast can help
    3. An about page. Make sure it’s easy for a visitor to find information about your background and the history of your firm. Use this to sell yourself, convince a visitor that you’re the firm for them, and show off what sets you apart.
    4. Content. Blogs, whitepapers, webinars, and videos that showcase your expertise and the value you can offer.
    5. Up-to-date and mobile friendly. 57% of users say they won’t recommend a business with a poorly designed mobile site. Don’t let your site fall into this camp.

Website Resources:

Financial Advisor Email Tools

Regular emails should be a top priority for your digital marketing strategy. Email is very effective because it’s so versatile, even with the introduction of more high-tech tools. You can send newsletters, one-offs, campaigns, etc. that help to keep you top-of-mind. Forty-seven percent of marketing professionals agree it has the best ROI, so it’s worth taking time to set it up and send regular communication.

Successful email campaigns are personal, consistent, and provide value. Try these tips to send emails that convert:

  1. Use segmented lists. When you upload your contact list, make sure you set up different groups for prospects and clients. You can go even further and segment it by interest or demographic. Taking the time to send personal emails is very valuable, as 78% of prospects said personally relevant content from their advisors increases their intent to engage.
  2. Send a regular email newsletter. Monthly is a good start, but you can move up to monthly or even weekly if you have enough content. This is to keep your clients and prospects up to date on the latest news about both your firm and the industry.
  3. Use automated campaigns. Remembering to send emails for every birthday or every referral request can get difficult. Automated email keeps your marketing running in the background when you’re too busy working with clients.

Email Marketing Resources


Financial Advisor Social Media Tools

At FMG Suite, we know social media can be a sensitive topic for financial advisors, especially if their compliance doesn’t allow them to use these tools. Hopefully, more Broker/Dealers will soon realize the power of social, especially when they learn that 75% of affluent Millennials use social media for personal finance and investing purposes. If you want to resonate with younger prospects, social media can help you achieve success.

If you’re still doubting whether your advisory really needs to be on social media, how about this: Ninety percent of marketers say their social marketing efforts have increased exposure for their business.

In terms of which platforms to try, LinkedIn is a great choice for advisors, but Twitter, Facebook, and even Instagram can be hugely beneficial. If you’re new to social media, try these strategies to get started:

  1. Complete your profiles. Just like your website, your profiles need to be personal, convincing, and high quality. Make sure the contact info is correct, you have a high-quality image for your profile and cover images and take time to fill out all the available fields.
  2. Post consistently. Try starting out once per week, but it’s great to build up to two to three times a week, or even daily if you have a large enough audience. Just pick a frequency that you can commit to, so your page doesn’t have a bunch of posts one week, then silence for a few months.
  3. Build your audience. First, don’t get too hung up on the number of followers, because the quality of the content is more important than your follower count. But to make sure you’re reaching your relevant audience, invite all your contacts from your work and your relevant personal communities, like neighbors and former classmates. Try sending out an email blast promoting your new social profiles.
  4. Stay engaged. If people are commenting, liking, or sending messages to your page, don’t let them sit there in silence. Be sure to respond to comments, start conversations, ask questions, and overall, remember that this platform is meant to be social!

Social Media Resources:


Get Started

We know that digital marketing takes time, effort, and skills that financial advisors might not have. But our automated, set-it-and-forget-it features will take care of your most time-consuming chores, so you can focus on what you do best. If you’d like to learn more, request a demo and get a walk-through of our platform today.