We’ve all heard the phrase “Content is King,” but does content marketing really work in the financial services industry? The answer is yes!
In fact, it’s one of the most effective marketing methods for financial advisors and planners. A solid content marketing strategy will help you get your message in front of qualified leads. In addition, it will also allow you to forge a stronger relationship with your current clients. Best of all, it does all this without the abrasiveness of traditional marketing methods.
Adopting a well-thought-out content marketing plan could be one of the smartest moves you make for your business. Here are a few of the ways content marketing will help you grow your practice.
Most high-net-worth individuals are extremely leery of traditional marketing methods. This is particularly true when it comes to their finances. When done correctly, content marketing allows you to get past the noise and make a personal connection.
By consistently providing valuable information, you’re positioning yourself as a thought-leader and an expert in your field. To do this effectively, you'll need to take the time to learn which topics your current and prospective clients want to know more about. Then, create content that provides the answers to their questions. By doing so, you’re showing them that you’re in touch with their concerns. Do it without a heavy-handed sales push and you’ll also begin to build trust. Over time, this turns into lead generation, higher conversion rates, and the creation of an entire team of advocates for your brand.
If you’re like most financial advisors and planners, you’re accustomed to providing valuable information to help guide your clients towards making smart financial decisions. Content marketing is simply an extension of this.
To reach a particular target audience, all you need to do is figure out what keeps them up at night. Then use this research to create content that will bring them peace of mind. For example, if your ideal client is a pre-retiree with a potentially large rollover, you’ll want to create multiple pieces of content related to rollover options and other related topics. Done well, these pieces of content can turn each member of your audience into a potential lead for your business.
When you consistently provide this type of information, you become the “go-to” source for individuals who need answers to their financial questions. Even if a potential client doesn’t need your services right away, when they have a financial concern, you’re likely to be the first person they think of.
A traditional conversion funnel begins with awareness, then moves on to consideration. In the last step of the funnel, a customer finally makes a decision. A well-planned-out content marketing strategy will support every step of your funnel.
Creating well-written, sharable content will help raise your brand awareness. Answering questions that are front-of-mind for current and potential clients – or raising concerns they may not have thought of – will create a greater awareness of their need for professional financial advice. This leads them to the consideration stage.
When they’re finally ready to decide whether they need to hire a financial professional – and who is most likely to serve their needs – you will have already given them the information they need to make an informed decision. Your unique and valuable content will serve as a sneak peek of what they can expect if they hire you.
Content marketing can also enhance your current client retention efforts. Each piece you publish will create an ongoing dialogue about the topics that matter most to them. In addition, continually providing commentary, research, and resources will help to keep your clients actively engaged.
By educating and guiding your clients in ways that help them overcome financial obstacles, you’re solidifying your relationship in between appointments. Not only will this build trust, but it may also help you gather additional assets.
Last, but certainly not least, a content marketing plan will support your word-of-mouth marketing efforts. By creating valuable resources your clients will want to share with their family and friends, you’re opening the door for them to easily provide you with referrals. As the information you provide helps to improve their lives, they'll eventually turn into raving fans and brand advocates – further increasing your referral efforts.
Understanding the value of content marketing is an excellent first step, but it's not enough to boost your business. If you want to experience these benefits, you'll need a solid content marketing strategy. Our next post will help you build your strategy by exploring 10 Content Marketing Strategies for Financial Services.