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Written by: Samantha Russell
What marketing tactics work best? In the case of financial advisors, the success of your marketing is less about your specific tactics and more about pinpointing what makes your firm marketable in the first place. For that reason, rather than listing best practices, our very own Samantha Russell turned to social media to collect a list of specific marketing tactics fellow advisors are using (and seeing success from!).
Below you will find a list of those tactics, along with the reasons they’re effective. This way, we can get at the core of these advisors’ approaches to see why they work so well, allowing you to create a version that best fits your brand.
Read on to see real-life examples of financial advisors using some of these marketing tactics and how you can apply them to your own marketing.
5 Marketing Tactics Bringing Real Results
1. Hosting Client Events
Emory Hendrix, AAMS of Crescent Wealth Management, has found great success in event hosting. He states that 90% of new business comes from a combination of client introductions and client events. Emory mentions his events are a 50-50 mix of education and social/client appreciation. Crescent Wealth hosts approximately 15 events like these a year.
Why we love it:
Hosting events gives financial advisors the opportunity to connect with potential clients and expand their network. The best part is it’s up to the advisor hosting the event to decide on the setting and focus, meaning they can have a more professional black-tie event or a casual get-together for a movie night or bowling. Events are customizable to your audience, depending on the situation and end goal.
Looking to start planning events for your firm? Our guide to creating memorable client events can help you get started.
2. Providing More Video
Mike Zung, CFP and founder of Java Wealth Planning, has found consistent marketing success in the use of video – specifically on YouTube.
Why we love it:
As you know, video is a popular marketing strategy to help you firm stand out by providing the same information in a different format. Plus, it goes a long way in conveying the feeling of working with your firm by presenting yourself in a way that’s as close as possible to a meeting. However, what stands out in Mike’s strategy the most is the use of YouTube as his video platform.
As Mike mentions, he has not released a video in a while, but his videos still perform consistently. This is because YouTube, like Google, is a search engine. The second largest search engine, in fact. Which means high-performing content provides many of the same benefits as content that’s optimized for SEO. Therefore, video can be seen more as an investment, providing longterm advantages for your brand.
3. Social Media
Dustin DeFranco, founder of DeFranco Financial, is a big believer in Facebook and genuine community involvement. DeFranco Financial does a one-two combo by sponsoring local teams and then layering in social media posts. This is great because they are engaging with the local community and getting their name out there. Dustin shows how great it works because “Proud families share posts of kids/grandkids… exponential networking effect for brand awareness. Boom!”
Why we love it:
The popularization of the internet has brought a host of new ways for businesses to market themselves to potential clients. The same goes for financial advisors and anyone else in the finance field. According to research by StatusBrew, 9 in 10 internet users use social media every month, meaning social media is the perfect channel to reach various audiences and build your brand.
The key to Dustin’s approach here, though, is the combination of his intent and his chosen channel. In other words, Dustin wanted to focus on his local community. So, he chose Facebook – the perfect platform to prioritize community engagement. Successfully promoting your brand on social media requires this sort of thinking, as different platforms often appeal to different audiences. What social media channels are you using? Is your content/approach different between them? Consider these factors as your build your following.
4. Email Marketing
Jeremy Walter, founder of Fident Financial, uses weekly emails as way to not only build trust but demonstrate value to customers and potential clients.
Why we love it:
Email is used as both a method of communication and a way for financial advisors to market their business. What makes email a great marketing tactic is its versatility, allowing advisors to send text, images, videos and links. In fact, YChart’s Advisor-Client Communication Report found email to be the preferred method of communication for most clients. But despite it’s popularity and versatility, SmartAsset found only 30% of advisors use email as their primary method of communication. For this reason, we recommend investing more into email, not just as a marketing tactic but as a retention strategy.
Naturally, this can take a lot of time. And many advisors don’t have the support to invest further. If this is the case, consider exploring our email marketing solution. We offer tools, templates and content to make connecting with prospective clients and nurturing existing ones easier than ever.
5. Podcasts
Ryan Burklo, RICP and Alex Collins, CHFC, CFP’s podcast “Beer and Money” is described on their site as a “financial fireside chat.” It’s an easy-going podcast that’s equal parts informative and fun, giving liestners the financial advice they need while discovering a new beer or two.
Why we love it:
If you want to reach someone who loves content but doesn’t have the time to read about it, podcasts are the best alternative. In fact, podcasts are so popular that 79% of people are aware of the format, and over 82 million people listened to podcasts in 2021.