Inbound Marketing

6 of the Biggest Marketing Opportunities for Financial Advisors in 2021

It looks like this tumultuous year is coming to an end- and it’s never to early to look ahead. What are the biggest marketing opportunities financial advisors should take advantage of in 2021?

Samantha Russell, CMO at Twenty Over Ten, is here to give you details on 6 marketing opportunities you should keep in mind for the new year, with the use of closely analyzed digital marketing trends.

Video Transcript

What are the biggest marketing opportunities for financial advisors in 2021 and beyond? Today, I’m sharing six of these opportunities with all of you. So let’s dive right in. I’m Samantha Russell from Twenty Over Ten, and let’s jump right into number one.

1. Subscription Based Services

So number one is subscription based services. I know so many financial advisory firms are still operating on the AUM model, but really it’s such a marketing opportunity to embrace a subscription model, even if it’s just for part of your business, and here’s why. There are only about 4% of all households in the United States that can actually be served by the AUM model.

So this actually is a quote from Michael Kitces on InvestmentNews just last month, and he said, there’s 120 million households in the U.S., and only about a third of them have investable assets of $100,000 or more. And actually only one in 10 of those have investable assets of a million or more. So we’re talking about such a huge part of the population that cannot be served by the AUM model. So if you want to get a larger percentage of the pie of American households, you got to change up the way that you can sort them, and a subscription based model could be a great fit for you.

2. Video

Okay, opportunity number two: video. Just like right now, you see my face, you hear my voice, video helps us to make connection and to cut through the noise. And with so many people now, more than ever before, spending more time online, working from home, and operating in a digital first world, video is crucial to building connection and rapport with both clients and prospects.

Most used online platforms among adults youtube

If you haven’t already, you can subscribe to the Twenty Over Ten YouTube channel so that you’ll get a video tip just like this every single week as we release them. And I really encourage all of you to set up your own YouTube channel. YouTube is also the second largest search engine after Google, so you’re gonna get more bang for your buck and being found organically by prospects doing searches online. I have an entire guide, a financial advisor’s guide to YouTube that we will link below, and that will tell you how to set up your channel, how to get started and how to shoot video, just like I am today, with just a smartphone, that’s really all you need to get started. So opportunity number two, video.

3. Marketing to Millennials

Okay, opportunity number three is marketing to millennials. So many advisory firms in the past have historically really focused on retirees and pre-retirees, but millennials are a fantastic opportunity for so many of you, and connecting with them digitally, which is really the only option many of us have in this socially distant world, is even easier as so many of them spend a huge chunk of their day on platforms like YouTube and Instagram and LinkedIn and Twitter and Facebook and all of those social media networks.

Chad Chubb Wealtheel twitter financial planning for millennialsSo think about how you can create a program specifically for a segment that may not have as much investable assets, again, going back to that subscription based model, and think about how you can change up your marketing to speak to this particular audience.

4. Retargeting Ads

Okay, number four, opportunity number four: retargeting ads. So many of you write in asking our team here at Twenty Over Ten about Facebook ads or Google ads and what you should do and how to get started. And one opportunity that I see for 2021 that so many people are not taking advantage of is retargeting.

So what I mean by this is, have you ever went online, let’s say, and you’re shopping and you’re on Nordstrom, and you’re looking for a pair of pants, and then you click away and everywhere you go on the internet Nordstrom is following you, showing you ads for those pants or other products like it. That, in essence, is retargeting. It allows us to track people whose name or email we haven’t collected and show them our content on other websites other than our own. It’s a little bit more complicated than that and how you set it up and how you get started, but there’s so many great ways you can do it.

HCP wealth management facebook pixel

Facebook has a great way to do it, and Twenty Over Ten’s lead generation tool, Lead Pilot, has a direct integration with Facebook pixel, so it makes it even easier for you to track. So definitely check that out, again, we’ll link that in the comments, but retargeting is opportunity number four.

5. Inclusivity

Okay, opportunity number five is really not as much of an opportunity I think as a “must do,” but being inclusive in all of your marketing. If 2020 has taught us anything, it’s that people will no longer tolerate a lack of diversity in marketing. So if you haven’t already, now is the time to look at your website, your blog, your social media presence, the content that you put out, any messaging that you have, and think about how: can you be more inclusive?

We’ve really seen such a big shift in people reaching out to our team to help them make updates like this, but there’s still so many advisory firms that really have defaulted to the tried and true- which really comes down to featuring a lot of white men, older white men, in their marketing. And so, embracing other age groups, other socioeconomic status, all different ethnicities in your marketing is going to be crucial and not turning away people who are absolutely looking to make sure that the firm that they want to work with embraces diversity.

6. Hyper Personalization Powered by Automation

And then number six to round us out as an opportunity for 2021, is hyper personalization that’s powered by automation. So what I mean by that is, instead of one big list of all your customers and all your prospects, you segment your list into different groups, right? So that might look like a list for doctors, a list for retirees in the Philadelphia area, a list of young families, however you’re going to slice and dice the pie is up to you, but segmentation allows you to send hyper personalized messaging.

And what we have found is that people are so inundated with messaging now that we tune out anything that isn’t hyper specific to us. So the more personalized and specific you can make something, the better. Again, Twenty Over Ten’s Lead Pilot tool makes it incredibly easy for you to do this. If you haven’t checked it out already, we’ll make sure we link below.

But no matter what tools you’re using, think about, is the tool you’re using to power your marketing automation going to allow you to really create custom content that’s hyper personalized for your audience? I hope these tips were helpful for you, and if you have any questions for us feel free to reach out. We’re so excited to work with you in 2021.

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About The Author

Katrina Herrera

A part of Twenty Over Ten’s digital marketing team, Katrina is passionate about creating content for others to enjoy. You can typically find her with an Americano in hand as she makes (yet another) bucket list, writes songs or watches wedding videos.