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Why Content Marketing is Important for Financial Advisors

All financial advisors like the idea of a solid content marketing strategy, whether it’s blogging, newsletters, or writing guest articles. It’s a rather inexpensive way to speak to prospective clients. However, creating the copy for your company can be time consuming … and it also means you have to have solid communications skills and a deliberate strategy.

No matter what you do in life, words matter. What you write on your website, newsletters, or anything for that matter, will either engage and attract your ideal prospect clients, or it will make them want to find someone else. The topics you discuss can determine whether a prospect will think about doing business with your firm.

Benefits of Content Marketing for Financial Advisors

Content marketing allows you to draw in your ideal clients without having to spend a ton of money to get their attention. This is a huge benefit if you’re building your business from scratch. You have limited resources, and being able to market yourself without spending all of your budgeted money for the year is huge.

By marketing this way, you can naturally develop a strong platform for yourself and your brand where it matters most if you want to work with next-generation clients: online. The first thing a prospect will do is search online for your name or your firm’s name. Having a well-designed website, an informative blog full of information they need, and something such as a free ebook to download will position you as an expert in the eyes of the prospects that are searching for you online.

In addition to building expertise, content marketing is one of the best ways to develop trust and sincere relationships with the people you want as clients. In a generation that actively distrusts traditional advisors and doesn’t understand the differences between fee-only financial planners and commission-based broker-dealers, educational content can bridge the gap. It serves the reader’s needs and helps to make a big impact on 20, 30, and 40-somethings who want help with their finances but aren’t sure where to go.

How to Develop a Content Marketing Strategy as a Financial Advisor

Convinced your firm needs to do content marketing? If you’re starting from scratch, develop a plan first. Here are a few simple steps to putting together your own content marketing strategy as a financial advisor:

  1. Identify Your Objectives and Goals: You can’t execute your plan without understanding why you’re taking action or what you hope to accomplish.
  2. Choose Your Channels: Decide where you’ll focus your content marketing efforts. You can’t be everywhere all the time, and it’s unwise to spread yourself too thin over all the possible places you could market. If you’re not sure where to start, focus on your own website and blog, and then incorporate social media to help promote your content to wider audiences.
  3. Choose Your Content: Just like you can’t be everywhere all the time, you also can’t excel at producing the myriad of content that’s available to make. And you don’t need to. If you’re active and heavily involved with social media, you don’t necessarily need to divert your time and attention away to start a podcast (especially if you know absolutely nothing about podcasts or how to start). Decide what you and your firm can excel at – and stick to it.
  4. Stay Consistent: Once you set up a framework for your strategy by determining objectives and goals, where you’ll market, and what you’ll create with your content, it’s time to implement. Choose a schedule for releasing your content and stay consistent. If you want to tweet 5 times a day, do it 5 times per day, every day. If you want to blog once per week or release a new podcast episode weekly, do it and stick with it.
  5. Create a Promotional Process: You should spend about 20 percent of your time creating content. The other 80 percent of the time? You should be promoting it. Here are a few channels you can utilize to promote the content you create: social media, email lists, syndication, republishing, or guest posting (if you’re focused on blogging).
  6. Track Your Progress and Measure Results: After you get started, it’s important to track and measure the progress you make and the results you see. What’s working, what’s not, and what could you change to enjoy greater success?

Website Content

Once you understand your niche, make sure your website communicates directly to them. Anyone who visits your company website should be able to plainly see who you want as a client. Your firm should also have a detailed “About You” page, so that it’s obvious the type of prospective clients you hope to attract.

But what about your website?

  • If consumers were to visit, would it be easy for them to understand whether they are a good fit for your firm?
  • Does your company name or tagline specify an ideal client?
  • Do you have an easy-to-find area where people can find out what your typical clients are like, and what you can offer them?

You not only want to attract the right clients – you also want to gently discourage the wrong ones. You don’t want to waste time taking initial meetings with clients who are a poor fit, whether it’s because their assets don’t meet your minimums or because their needs aren’t a match with your specialties. It’s not the best use of your time and the clients may not get the service they require.

Both the articles and the other messaging on your website should be dedicated to your ideal clients, their problems, how you solve them, and what would qualify a prospect to be your client. Whether you serve landowners with mineral rights, women going through divorce or corporate executives, be sure you reference the financial issues these specific people face.

Your phone probably won’t ring as often, but you should be able to sharply increase the percentage of prospects who become your clients.

Newsletters and Updates

Many firms send out regular newsletters, whether quarterly, monthly or even more often. Every time you send one out, your clients have a chance to judge what type of firm you operate and whether the relationship is still a good fit.

What does your newsletter include? For many, it tends to focus on market commentary, some projections for the future and discussion of investments. Even better would be timely, engaging commentary about current events that affect clients. I’ve also seen staff updates, easy-to-implement financial tips, even seasonal recipes.

Know When It’s Time to Look for a Guide

One of the things you should consider is very important – if you’re not an experienced, natural writer, you may not want to write your website or marketing materials yourself. Understand that the same ideas communicated by a professional writer can make the difference between having your ideal prospect pick up the phone or continue looking.

At New North, we are dedicated to making sure you have everything you need to be a successful financial advisor. We have the staff that can develop your website, write content for you, manage your social media channels, and more. All of this without you having to hire a full-time, costly marketing team for your firm.

Let us help you get the clients you need. We’re here to help. Contact us today and let us guide you to success.

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