Digital marketing is not a set-it-and-forget-it project – in fact, it requires a continuous, precise strategy and a significant investment of time.
But if done right, this initiative can pay off big time for financial advisors.
“Digital marketing is essential for most advisors,” Robert Sofia, co-founder, CEO and chairman of Snappy Kraken, a leading marketing technology company that provides systems for financial advisors, asserted in an interview with ThinkAdvisor.
“[Certainly] “Anyone who has aspirations to contribute to the next generation and wants to do something other than create a little club of billionaires in their family office needs to market themselves online,” he explained.
Sophia suggested various ways advisors can make an impact online: He also lists the biggest mistakes people make in digital marketing.
She also discusses search engine optimization, artificial intelligence, text messaging, and social media. Sophia was previously the Director of Business Development for Ford Motor Company and worked as a financial advisor for several years.
In the interview, Sophia details how AI can reduce costs for financial advisors, why many advisors aren't cut out to host podcasts, and reveals the most effective way to generate referrals — statistics she calls “staggering.” [his] heart.”
Highlights from the conversation include:
THINKADVISOR: Is digital marketing a must for financial advisors?
Robert Sophia: A must for most advisors.
Advisors who want to continue to grow to contribute to the next generation, stay relevant online, and have a desire to do something different. [serve] The small club of billionaires within family offices will likely need to market themselves online.
What is the main objective of digital marketing?
How to expand your connections — To communicate with customers.
The number one reason people leave an advisor has nothing to do with performance or service. It has to do with poor communication.
Digital marketing is a great way to stay in touch in a meaningful way.
What is the biggest mistake you see advisors make with online marketing?
They have holes in their strategy, no strategy at all, or are too impatient with their strategy.
Cons: Lack of niche focus or automated follow-up or nurturing sequences to generate leads/opportunities and convert them into meaningful conversations.
If you write a blog but don’t have a clear call to action in the footer so people can opt-in, that’s also a drawback.
And if you don’t promote your blog through email to the list you’ve built up, or publish it on your social media channels with a link, that’s a hole.
What do advisors need to know about search engine optimization?
Without a strategy for Google, the largest search engine — 95% of search results are — That's obviously a big problem.
So, take advantage of Google’s technology and make Google your priority: Apply for your free “Google Business Profile”.
Specific [come with that] It helps you appear higher in search results. Create a complete profile by adding, for example, your website URL, client reviews, a list of services, and more.
What else is important when it comes to SEO?
Advisors should specifically communicate to their target audience: [these prospects] Understand what users are searching for and what their concerns are. Identify relevant keywords and optimize your website content.
For example, keywords about a specific company and its stock option plans and how they work will rank much higher than a general keyword like “getting the most out of your retirement plan.”
Use tools like Google’s Keyword Planner or Semrush to optimize your website content around keywords, including page titles, page headers, and body text.
This involves writing very thoughtfully.
Is that all?
No. You want to take the time to create high-quality content and continue to answer questions with blogs, videos, infographics, and podcasts. — Includes transcript.
This way, you can continually build content that supports your SEO strategy.
You also need to ensure that your website is optimized for mobile browsing, otherwise it won't rank highly. [in searches].
What about marketing via text messages?
Text messaging garners the most lead conversion activity.
If you put a CTA on your page like, “Have questions about how to save on taxes? Text me,” people will immediately call you and send you a question via text.
Once they do, you can have a conversation and get their name and email address. You already have their phone number!
What follow-up strategies should advisors employ?
For each new lead that joins, [prospects of financial advisors using Snappy Kraken] You will receive a series of email messages from your advisor, as well as video and text messages at various intervals.
