Market in Motion Blog

 
 

3 Ways Advisors Waste Money on Marketing (And What to Do Instead)

Content, SEO & Google Analytics, Website 0 Comments

Business Charts with calculator, dollars money, piggy box / money box and pen on white background

Many small businesses tackle marketing budgets as an afterthought; if we have enough in our budget after our expenses, we may spend some money on marketing. But in reality, marketing should be tackled proactively and business owners should set aside a monthly budget to spend on these tools.

Setting a marketing budget, though, is only the first step. Next, an advisor must figure out where those dollars should be spent. This may be an overwhelming task, which is why we want to guide you through three of the most common ways to waste marketing dollars and offer some money-saving alternatives. 

Buying Followers or Likes

There are countless applications and websites available to spam social media and make it look like your pages have thousands of Likes and follows. While this may seem like a quick fix, in reality you aren’t going to get much traction with these bots. These packages can range in cost, but regardless of how much you spend, the chances are that very little of these followers will be your target market.

Instead of buying Likes, focus on targeting your ideal market and distilling your value proposition. While this may not generate as many numbers as the above strategy, it will be more efficient (and free!). It is better to have 10 followers that are deeply invested in what you do than 10,000 bots who are fake or aren’t your clientele.

Investing in SEO Companies

You’ve likely been tempted by SEO companies that promise first page Google rankings, increased traffic, and perfect SEO keywords. While in an ideal world that would all be great, search engine optimization isn’t that easy. And even worse, these companies charge thousands of dollars, usually monthly, to keep up your SEO with no solid guarantees.

We don’t want to say all SEO companies are scams because they work for large corporations or unique circumstances, but for most of our clients these aren’t the answer. Instead of spending all this money for something that changes rapidly (even SEO companies can’t keep up with Google’s ever-changing algorithms), think about small tweaks you can do to boost your SEO yourself. For example, with our FMG Local Search tool, you can make sure all of your business listings have the same information which is a great way to boost your SEO.

Another thing to consider when searching for that elusive SEO Golden Ticket is that most people coming to your website are either referrals or directed there by quality content. Whether you automate or write your own posts, content is a great way to increase your site traffic. 

Ordering Large Runs on Tangible Marketing Materials

Marketing materials such as brochures and sales packages can be invaluable tools, particularly for service-based businesses. But gone are the days when an advisor has to print thousands of copies to get a good deal.

If you are hosting an event and need flyers or programs, think about working with a local designer because their costs will be lower and only ordering as many copies as you need. Even better, consider offering the material digitally. Most people have constant access to smartphones and tablets so providing these materials digitally will save time and paper.

The myth that marketing is a notoriously expensive budget for business owners comes from age-old techniques that are outdated in today’s digital society. The truth is that, when approached efficiently, marketing can cost very little and deliver tangible results.

If you would like more tips on how to stretch your marketing dollars, check out what Craig and Brandon have to say in our Marketing Tip video.

<!– / OptinMonster →

Related Content



Back to blog list

Tags



Join Discussion

Still Have Questions?

Become a Marketing Master

Sign up for our marketing e-newsletter to receive marketing tips for financial professionals, including exclusive whitepapers, broadcast invites, and other content.

 
Privacy Policy

Get a Sample Email Campaign

The best way to experience FMG Suite Campaigns is to receive one the same way that your clients and prospects receive them — in your email inbox. Let us send you one today!

 
Privacy Policy

Get 1 Month Free

Receive your first month of our Monthly Market Insights campaign for free.

 
Privacy Policy
 
 

Experience The FMG Suite Difference!

Tell us a little about yourself and an expert will reach out to you and walk you through our award winning automated marketing platform.

 
Privacy Policy

Experience The FMG Suite Difference!

Tell us a little about yourself and an expert will reach out to you and walk you through our award winning automated marketing platform.

 
Privacy Policy

How is Your Business Listed?

Check the consistency of your online business information with help from our listings scan.

Enter business information to scan below:

Business Name *
Street Address *
City *
State *
ZIP *
Phone *
Scan Now
 

Want to kick the tires first?
Check out our Free 7-day Trial.
No credit card required to start.

Privacy Policy

Get Started with Copywriting

An expert will reach out right away to help you craft your content

 
Privacy Policy

Learn More About Pre-Designed Pages

Enter your contact info below and an expert will be in touch soon.

 
Privacy Policy

Get Started with Custom Video

An expert will reach out right away to help you create your content

 
Privacy Policy

Let's Build Your Suite

An expert will reach out right away to help you build your suite!

 
Privacy Policy

A Truly Free 7-Day Trial

No Credit Cards. No Downloads. No Commitments. No Strings Attached.

Sign up now and you’ll be up and running on our integrated and automated marketing platform in a matter of minutes.

  • This field is for validation purposes and should be left unchanged.
 

Copywriting Sample

Distill Your Niche

"...while they can’t turn back the clock and address these issues beforehand - such as increasing their spouse’s life insurance or saving more - there are ways to take control and feel more confident in their future.
When working with widows, there are a few first steps I recommend taking:

1. Get Organized
Whether or not you handled all of your family’s finances, some, or none, the first step is to organize your financial documents. Before you can determine how to budget and what steps to take, you have to first understand where you stand financially. If you are having trouble translating your investment account statements, a financial advisor can help you understand what your documents mean. You’ll want to copy and safeguard your important documents and review life insurance policies with a trusted advisor.

2. Budget for a Single Income
More than half of widows have difficulty adjusting to a single income. This may because they haven’t reevaluated their bills and expenses and adjusted..."


View Complete Sample
 

Copywriting Sample

Consistent Messaging

"...Once we understand your family’s current circumstances, goals, and unique needs, we develop strategies to help preserve and potentially grow your wealth and take over the time-consuming tasks associated with managing your complex financial affairs. Working with a family office can benefit families in a number of ways, including:

  • Preserving wealth through proactive management and appropriate strategies
  • Mitigating risk by diversifying investments
  • Assisting with the transfer of wealth from one generation to the next through strategic asset allocation and estate planning..."


View Complete Sample
 

Copywriting Sample

Unique Articles in Your Voice

"...More than likely, you have a clear understanding of your relationship with your doctor or your dentist. You pay a fee and, in return, you receive a service, including advice and recommendations based on your individual situation. It would make sense then for your relationship with your financial advisor to be the same; but for many, that’s not the case.

At Financial Guideposts, we’ve noticed a trend: that the general public does not understand the relationship they have with their financial advisor. We want to change that. We believe there are two critical aspects you should understand when working with a financial advisor: how he or she gets paid and what services he or she provides..."


View Complete Sample
 
FMG Suite