Introduction to Digital Marketing
Digital marketing produces high quality leads and contacts for financial advisors!
We have all seen how the Internet has had a profound impact on the marketing practices of companies in several major B2C industries.
Paladin believes the Internet is just beginning to have a significant impact on the marketing practices of firms in the financial service industry. For example, financial advisors are abandoning obsolete outbound marketing tactics (advisors contact investors) and adopting inbound marketing practices (investors contact advisors).
Why has financial services taken longer than other industries? We believe the answer lies in Wall Street’s powerful sales culture and the 650,000 advisors who have used outbound marketing tactics for decades.
The Digital Revolution
The principal beneficiaries of the digital marketing revolution are investors who rely on advisors to help them achieve their financial goals.
The revolution represents an exchange of power. In the past, investors had to talk to advisors to learn more about them. Today, they can visit financial advisor websites and Google search their names. They may even visit third party websites (FINRA, SEC, States) to learn more.
Advisors & Information
There are several reasons why investors prefer to use the Internet. They can:
- Find financial advisors
- Learn more about specific advisors
- View general information about advisors
- Learn more about financial topics
- Maintain anonymity while they conduct their research
- Contact advisors who meet their expectations
Digital Marketing Results
Three primary metrics drive the success of digital marketing strategies:
- Financial advisor visibility on the Internet
- Number of visitors on financial advisor websites
- Websites conversion rates
Financial advisors must be visible on the Internet so investors can find them. This visibility must produce a steady stream of visitors to financial advisor websites. The advisor’s websites must convert a substantial number of visitors into leads and contacts.
Every financial advisor in America has a website. Their websites are a delivery system for information about the firms and the professionals who work there.
Advisor websites should also be their most powerful sales tool. Websites have to two to three minutes to create a first impression and deliver information that convinces visitors to give-up their anonymity and submit their contact information.
Visibility & Traffic
Several digital marketing strategies increase the Internet visibility of financial advisors and produce traffic for their websites. Advisors use four primary important marketing strategies to increase their Internet visibility: Content marketing, social media, local SEO, and paid advertising.
The more visible the firm the greater the number of investors who visit advisor websites. This creates a one-time opportunity for websites to convert visitors into leads and contacts.