Even among advisors who serve clients in multiple states, many of them that we work with largely rely on referrals and locals in their community to build their book of business. While technology makes it possible for us to virtually meet people from across the world, many investors crave in-person meetings and face time with their advisor.
If you’re looking to find more clients in your local area, take some of these strategies for a test drive.
1. List Your Business in Online Directories
Online directories are like yesterday’s Yellow Pages. Often underestimated, directories are the simplest and most accurate way to find a local business. You might be thinking that you don’t — nor does anyone you know — use or even know of online directories, so there’s no reason for you to go out of your way to submit your business. However, Google and other top search engines rely on these directories to determine the accuracy and legitimacy of your business.
The more places you’re listed (and the more consistent the information is) the more likely you are to show up in search engines for local searches (such as “financial advisor in San Diego, CA”) and the more likely people can find you online.
Finding and submitting your business to dozens of directories (and then managing it) can be time consuming. Using a service, however, can make it easier to get your business listed accurately online.
2. Submit Content to Local Blogs or Newspapers
Guest blogging is one of the most effective ways to build links to your blog, encourage more traffic, and access a wider readership and potential clientele. If you create content, submit your next piece to a local blog or newspaper. For a blog, you can include a link back to your website. For newspapers, you can include your contact information at the bottom of your post.
The best way to ensure your content makes the biggest impact, your first submitted article should address a common financial concern your target market has, whether that’s understanding how to maximize their 401(k) account or managing their debt.
To find a local blog, start by Googling “[your city] blog.” If your area doesn’t have any relevant blogs that would work for you target market, consider Patch.com, which creates hyperlocal sites in hundreds of cities across the U.S. If you become an approved blogger, you can create and post your own content (so long as it isn’t too salesy).
3. Use Social Ads to Target People in Your Geographic Area
Social media advertising is usually much less expensive than traditional print advertising or pay-per-click Google ads. On Facebook, LinkedIn, and Twitter you can adjust the audience of your ads to only include people in select cities or states.
There are several different ways you can advertise based on your goals. You can strive to increase your number of likes, clicks to your website, newsletter signups, event responses, and more.
4. Host Educational Events or Classes
We’ve spoken with dozens of advisors who host educational courses at local community colleges or libraries and it serves as an impressive lead generator. This could be anything from a one-time Social Security class to a semester-long retirement planning crash course. Deb Sims, a financial advisor in San Diego, hosts monthly events on finance for women. This has helped her build a strong presence in her community and established her as a go-to financial resource for women.
Start by reaching out to schools, libraries, and public centers to find out how you can get involved. Depending on the organization, you may or may not be paid or have to pay for a spot. If you’d rather go your own route, you can host an event at your office, restaurant, or other local spot. Advertise the event listing on your website, social media, and in local newspapers to drum up more interest and signups.
The more public your business is in your community, the easier it can be to build your client base. Don’t underestimate the power of local marketing, whether it’s submitting to local directories or contributing to your local newspaper.
