It’s no secret that the financial industry is a highly competitive, ever-evolving market space. If for whatever reason you snooze, you’d lose out. As a financial advisor, you need to be at the top of your game. Not only does the quality of your service need to be top-notch, but you also need to get them in front of potential clients.

A good marketing strategy will help you get your financial advisor business in front of the right audience, increase conversions, and ultimately grow your business. By the end of 2021, the financial services industry is estimated to reach 22.5 trillion dollars. To get your share of that, here are some top marketing strategies to help you grow your business:

Develop your Niche Market

Deciding to be an authority in a particular field is the best way to stand out and be visible to prospects that need solutions from such fields. Whether it’s offering your services to medical personnel on student loans, sportsmen, or a divorcee, you’ll get more attention if you specialize in that field.

The idea of narrowing your field and cutting off a wider target audience may not be appealing at first. But, consider how patients with heart problems do not visit the optician, but rather the cardiologist, even though they are both doctors. That’s the same way your prospects will sort after financial services tailored specifically to their needs.

Strive to be the best in your field and your services will market themselves through word of mouth and referrals.

Set Goals and Objectives

You have to be smart about the goals and objectives of your marketing strategy plan. Your goals should be SMART that is, specific, measurable, achievable, relevant time-sensitive. A good marketing strategy goal should focus on these key points:

• Increase sales

• Boost conversion rate

• Increase brand awareness

• Increase customer value

• Generate high-quality leads

• Increase web traffic

Keep Your Existing Clients Happy

What your clients have to say about your matters a lot. A negative or positive review from a person who has experienced your services could have a huge impact on how your business thrives in society. Even though word of mouth is a free advertisement form, it is very effective because it comes up in conversations among trusting individuals.

Get involved with your clients personally and send them gifts when they achieve and celebrate milestones in their lives. Also, you should occasionally incentivize your services like giving free advice from time to time.

Create an Ideal Website and Landing Page

As a financial advisor, nothing repels an online prospect more than a shabby-looking website or landing page. Your website should appear professional if you want to be considered an authentic player in that field.

Your professional website should

• be functional

• be  flexible

• be easy to navigate

• have great content about the financial advisory industry geared towards customer service, the value offered to customers, and proof of specialization

• have a call to action prompt (to any metric you choose to measure conversion)

• be aesthetically pleasing to prospects

Furthermore, it is important to create a mobile responsive website, since an increasing amount of people would readily surf the web on their smartphones rather than a computer. Also, to promote a sense of originality on the website you should use real-time photographs of yourself, your team, and your office space.

Send Monthly Newsletter

With newsletters, you can update your prospects and existing clients with valuable content. Information about new trends in your field and new ways you could be of help to them.

Newsletters are a great way to stay fresh in the mind of clients and prospects. It could encourage clients to enlist more of your services and easily recommend your services to friends, family, and associates.

Use SEO and Local SEO to Generate More Traffic

SEO ( search engine optimization) done properly is an effective way to increase your visibility on SERP (search engine result page) and consequently drive traffic to your website or landing page.

Local SEO ensures your content is relevant to your locality, so you turn up when people search for terms related to the services you provide. And where else to start growing your financial advisor business than within your immediate environment.

It is advisable to outsource this responsibility to a third party. They know of the best practices to generate and optimize the content on your website and social media pages. Also, it gives you more time to focus on other aspects of your business.

Social Media Marketing

Even within the niche you’ve chosen, social media increases your potential target exponentially. Social Media Marketing is a great way to stay connected to existing clients and boost your clientele. Social media platforms such as Facebook, Instagram, Twitter, and LinkedIn are great for inbound marketing.

As a financial advisor, LinkedIn is especially useful in prospecting for new clients because it has a more professional space than the others. On LinkedIn, you could showcase your articles and or speaking engagements. It’s also helpful in building connections with professionals in other fields.

Here are some tips for effective social media marketing:

• Publish quality and engaging content on your social media page/profile

• Communicate with your followers and listen to their feedbacks

• Create ads that promote your services and products

• Use analytics to measure the performance of your marketing campaign

Promote Your Business with a Webinar

Webinars are an effective way to get face out there and establish yourself as an authority in your niche. You can get a lot of attention from your audience by sharing intriguing knowledge that will educate your clients.

You can even collaborate with other professionals as guest speakers to garner massive interest and grow your network. Webinars are a cost-effective alternative to seminars. They are suitable for any audience size, effective for tackling complex ideas, and have high conversion rates.

Marketing Done Right

Marketing when done right can be the most powerful tool to help you scale up your financial advisor business. Most marketing strategies are long-term processes which means you have to be consistent and diligent with them. Incorporating some of the strategies that have been discussed into your business, and patiently watch your business grow.