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More content! More content! More content!
This seems to be the message spread round the world from marketers of all niches. Well, in all honesty, it’s for good reason. Content drives everything we do, everything we purchase, almost any decision we make.
But, feeding the content monster is a constant battle—it’s always hungry!
The problem is that it’s easy to get caught up in the demand of content creation without really having any idea why you’re doing what you’re doing.
What purpose are your posts serving? Which marketing objectives are they meeting?
The problem?
So many advisors are guilty of creating for creation’s sake and are disappointed when their efforts don’t translate into more leads or phone calls.
The solution?
Identifying objectives.
Just as you make investment decisions based on the targets you’d like to hit, you should also create content with specific marketing objectives in mind. Otherwise, you’re just throwing darts into the dark and hoping something hits, well, something! When you set objectives, you drive toward a specific purpose expecting results.
To help you get started, here are six common objectives and suggested metrics for content marketing in the RIA space:
1. Improve Client Retention
Did you know that the number one reason clients leave their current financial advisor is because they don’t hear from them enough?
This is such an easy fix! Use your content to keep in touch NOT just with prospects, but with clients. By publishing and sharing content, such as blog articles, retirement guides, budget forms, savings tips, tax checklists, etc., you are able to stay in touch at a consistent clip and provide helpful information your clients might need along the way. Staying top-of-mind is a big factor in ultimate client satisfaction and retention.
Suggested metrics by which to gauge success of client retention:
- Keep turnover to less than X%
- Increase AUM for existing clients by X%
2. Fill the Prospect Pipeline
Delivering educational information via your content helps to (1) fill your sales funnel with quality prospects and (2) convert them into paying clients. Instead of blasting prospects with emails or phone calls pushing them to schedule a meeting, you can use content to introduce them to the financial advisory world and then slowly introduce yourself and your services and what sets you apart. Different kinds of content are used at each stage to help the prospect comfortably move at their own pace through the sales funnel without feeling forced or “sold to.”
I wrote an entire article on how advisor marketing is different than traditional marketing here if you’re interested in learning more!
Suggested metrics by which to gauge the success of your prospect pipeline:
- Add X new prospects to the sales pipeline
- Onboard X AUM in [time frame]
3. Build Brand Awareness
In addition to boosting client retention and attracting new clients, content can be a great tool for increasing overall brand awareness. Content helps establish you as a thought leader and expert in your field by generating some buzz around your brand (and even lead to other websites linking to your content via backlinks on your website).
Suggested metrics by which to gauge the success of brand awareness:
- Acquire X backlinks
- Write X guest blogs for industry publications
4. Increase Website Visibility
Search engines like Google look for keywords and fresh content to deliver results to users. This is SEO in a nutshell. This means that you’ll want to (1) update your website at a minimum 2-4x a month and (2) use a strategic keyword plan in your content creation. By producing content that focuses on and uses specific keywords, your website will become more visible on search engine results. Of course, there are a number of SEO strategies that can be employed in addition to frequently updating your content, but keeping the site up-to-date with keyword-optimized content is by far one of the most powerful.
Suggested metrics by which to gauge the success of website visibility:
- Increase Google ranking by X
- Increase organic web traffic by X%
5. Fuel Website Activity
Once a user is on your site, content helps teach them what to do next. Do you want them to download a lead magnet? Subscribe to your newsletter? Use the educational content your audience is looking for to get them to the site, then use the site content itself to drive the next most important decision you’d like the visitor to make. Accomplishing this will include making aesthetically appropriate choices about where buttons are located and how they look, as well as having a meaningful and logical backlink progression working on all your website pages. The ultimate goal of the content here will be to increase conversions on the Calls to Action—Subscribe, Download, Schedule a Call.
Suggested metrics by which to gauge the success of website activity:
- Increase total website sessions by X%
- Increase website conversions by X%
6. Boost Social Media Engagement
Social media engagement is based on publishing content — from photos and videos to links and quick updates. You need a lot of different content to have an effective social media presence. Below are a few examples of the different types of content you’ll want to include in your social media calendar:
Links to Your Website: Be sure to share links to the various pages of your website to drive website traffic. These links to the website carry the user from the outer rungs of your marketing efforts deeper into the funnel. Once they are at your website, your site should be working to collect their information or prompting them to schedule a call.
Standalone Posts: As you may very well know, social media algorithms—that is, the formulas used to prioritize which content is actually seen—are changing all the time. Currently as of this writing in fall of 2021, for example, posts with outbound links are not being favored over standalone posts. This makes sense, of course, since the social platforms don’t want you directing users away from their site. They want users to “stay and play” for as long as possible. So, make sure some of your content does NOT include outbound links.
Videos: Another way to please the algorithm is by getting users to stay on your post for as long as possible, whether that is time they spend writing a comment, watching a video, or sharing your post. Videos are a great way to get users to “stop their scroll” on your post and watch your video (or at least read the video captions) long enough to push your post up the priority list on the social platform.
Paid Ads: Some marketers currently estimate that only 5-10% of organic content that people post is actually seen. Paid ads are taking the limelight (this should come as no surprise, of course, since platforms want to make money too). There are a number of objectives to choose from with your ads, as well. You can use your paid ads to drive engagement (more likes and/or followers) on your social page, to push users to your landing page where they will be offered a chance to opt-in to your form, or to send you a direct message. Of course, different platforms have different options and some work better on one platform than another, so consult with your marketing professional to see which option will work best for you.
Suggested metrics:
- Add X followers on Facebook
- Increase post clicks/shares/comments (ie engagement) by X%
Let’s Put This Plan Into Action!
Don’t waste your time and money trying to DIY it.
Not sure which objectives you should be working toward? We can help. Schedule a consultation with Lexicon today!