Email marketing can be the great marketing equalizer for many business owners, including financial advisors.
Many financial advisors, unfortunately, underuse email marketing.
Financial advisors who use email marketing can realize a 4,300% return if they combine this marketing technique with solid lead lists.
If your book of clients needs a little boost, here are some ways you can implement email marketing best practices and strategies into your overall online marketing strategy for a great return on your investment.
Think about it this way.
If you were into golf, would you join an email list for some other topic that didn’t interest you?
No, probably not.
And, if you were on an email list to improve your golf game and you received regular emails that taught you how to do that, wouldn’t you open them?
Finally, if the golf pro who sent you those emails hosted special workshops in your city to help people improve their game, wouldn’t you sign up if you could afford it?
Again, most likely you would.
Now, think about an email marketing campaign that you’ve created for people who really want to improve their investment results.
If those individuals on your list were as passionate about investing as the golf players are about their golf games, could you see how you could build relationships with prospective clients by employing a strong email marketing strategy?
People like email marketing because it seems more personal than other types of marketing.
And perhaps it should be.
You are, after all, managing your clients’ financial matters. This can be a sensitive subject.
By personalizing your email marketing campaign, you can let your prospects know that you do care about their financial well-being.
That’s bound to help you build your business in the long run.
Weak email lists commonly lead to poor results.
If your lists are highly targeted and you send your contacts articles, videos, and other educational materials that help clients and prospective clients solve their financial issues, you’ll likely see a high open rate for your email.
The most successful financial advisors in this respect are those who carefully plan their email content to fit their audience, also commonly called segmenting.
All communication may not be appropriate for your entire email list, especially if you serve clients from different backgrounds and going through different stages in life.
These are some thoughts on how you can segment your clients and prospects into different avatars:
With this information, plan and implement different email marketing campaigns that are personalized and targeted.
Expert Tip: Make sure you separate your clients and prospects, too. Your approach and communication should be different for these two groups.
If you don’t already have a great email list, you’ll want to start building one in order to implement a great email marketing campaign.
Building your email list really doesn’t have to be complicated. You just have to be consistent in your efforts.
You can start by:
Once they have landed on your website, include a call to action so that they sign up for your list!
Building, nurturing, and encouraging a lead from your website to book an appointment takes time and effort. While you can manage this process yourself, it’s best to take advantage of one of these email tools for maximum efficiency:
These are some other tips you should consider when planning and executing on your email marketing strategy:
As a financial advisor, you too can take advantage of the power of email marketing.
Studies show that email marketing is among the most effective types of marketing that can be done to boost a business’s bottom line.
It would be a mistake to think that just because email marketing is simple, it’s also ineffective.
Most of the time, you’ll find an email marketing campaign to be one of your most powerful marketing tools.
Looking to start an email marketing campaign for your firm, and not sure where to start? Contact us today so we can talk strategy!