The Financial Advisors Cheat Sheet for Cost-Effective Digital Marketing
Like any component of your business, your digital marketing strategy is an investment. However, the good news is this investment doesn’t have to be costly. When it comes to digital marketing, a little bit of effort can have immensely impactful results. Whether you’re blogging, engaging on social media, or creating a webinar, there are countless cheap (or even free!) ways to connect with your target audience.
With so many great opportunities to cost-effectively market your business today, we’ve listed four of our topmost effective marketing strategies you can be taking advantage of to leverage your online presence, engage new audiences, and increase lead generation.
Have you heard that content is king? Well, it really is. We can’t stress this enough, but don’t shy away from content creation. We know it may seem overwhelming to constantly be producing fresh and compelling content but we can assure you there’s nothing to be afraid of. Your business will only benefit from a strong content marketing strategy. Don’t be afraid to show your expertise and establish your authority in your industry through your content. Doing so will help you share more informative and helpful content for your website and blog visitors.
It’s important to be explicitly clear about who your target niche is. Is it millennials or pre-retirees in the gas/oil sector? Whoever it is, it’s crucial to be sure you focus on their needs first. What do they want to read? What kinds of questions do they have? Make it a point to address them and provide insightful value and knowledge on topics that interest them.
In the example below, Twenty Over Ten‘s client, C.L. Sheldon serves a very specific niche of active and retired military members. Having a clearly defined niche helps them cater their content to the needs of their clients. They use their blog to share relevant and helpful content with their current and prospective clients to show them that they are there to help them in their financial planning journey and meet their needs. You want your site visitors to feel as though they learned something or gained something valuable from your website.
2. Organic SEO
Your businesses’ SEO ranking is critical to driving more people to your website and converting them into clients. But, what is does it mean to rank organically? Organic rankings are the web listings that most closely align with the user’s search based on relevance and what the user is looking for. They come about “naturally,” and it is not something that you are paying for. Your SEO ranking is crucially important to making your website more visible to prospective clients. So, what does it take to have a high SEO ranking? A successful SEO strategy includes internal and external links, proper headers and tags, keywords, generating new content, and more.
A great way to increase your SEO is through online reviews. A combination of quantity and diversity of Google reviews will generate a higher ranking, which also results in a higher number of clicks, also boosting your firm’s SEO rankings. The good news is, all these activities to enhance your SEO ranking are free so it’s a very cost-effective way to elevate your website!
In the video below, Chief Marketing Officer, Samantha Russell shares valuable insight on Google Reviews. Having strong reviews is such a great way to market your firm and boost your referrals organically.
3. Social Media
There are countless benefits your advisory business can get from using social media as a marketing tool. Not only is social media is a great cost-effective way to heighten your brand and give you the opportunity to engage with your niche audience, but it’s also a channel you can use to boost traffic to your website. Make sure to research and determine which social media platforms your niche is spending their time on. Is your target audience millennials who are spending more time on Instagram? Or is your target audience retirees who spend the majority of their time on social media on Facebook?
Taking a look at your social media analytics can be very helpful when it comes to determining the optimal platform for your business to be engaging on. After all, what good will posting do if you’re target audience isn’t even spending time on the platform that you are posting content on? Keep in mind that social media is not just about posting content, it’s about engaging and interacting with your audience.
4. Email Marketing
Email marketing remains one of the easiest and cost-effective ways to turn prospects into clients. You can offer resources, showcase your expertise, drive traffic to your website, and build trust with prospective clients all through your email campaigns. It’s critical to show your subscribers the value that you can bring them through your email content. Value is created by addressing a specific need or solving a unique problem that your subscribers have. It’s essential that you show your worth from the beginning in the email’s subject line.
A great way to enhance your subject line is to personalize it! Email personalization is a great method to help customers truly engage with your business. In fact, 74% of marketers say targeted personalization increases customer engagement. Think of the last email you opened. Was it addressed to you specifically? Naturally, people are more inclined to open emails that are addressed to them individually. Personalizing your email campaign’s is a great cost-effective way to enhance your email marketing strategy to increase open and click-through rates.
Let’s Sum It Up
Digital marketing can be pricy, but it doesn’t have to be. There are many marketing tools to choose from to make your marketing strategy cost-efficient and effective for your business. If you don’t have a big digital marketing budget that’s okay! If you’re hesitant about taking the leap to enhance your digital marketing strategy because you don’t have a big marketing budget, don’t be nervous. All four of these tactics are completely free and easy to implement into your marketing strategy.
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