Wealth Management Marketing – Going Digital
Wealth Management Marketing – Going Digital
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Wealth Management Marketing – Going Digital

Published on October 15, 2015
wealth management marketing ideas

As the Baby Boomers age, and move from a wealth-creation phase to a wealth drawdown phase, financial advisors are going to need to redouble their marketing efforts.

The demographics are shifting to a younger, hyper-digital client. And digital technologies seem to be working against the face-to-face financial advisor. Robo-advisors are capturing greater mindshare of millennials, and technology is also enabling self-directed individuals to create their own asset allocation using ETFs. And the big banks are able to collect data on prospects as they increase their net worth, and are able to use email automation and social media to reach them at just the right time.

Of course, we know that an independent investment advisor brings tremendous value. True financial planning cannot be done by a robot, and independent advice is critical. But that message of the value you bring is not delivered clearly enough. This is the challenge of wealth management marketing: to drive an understanding of all of the difficult and complex problems that financial advisors are able to solve for their clients.

The way your wealth management marketing message needs to be delivered has changed radically. The average prospect receiving their AARP card in the mail for the first time, and realizing they need to get serious about retirement, is much more likely to begin their search for your services through Google and social media. And with new digital technologies to identify social media influencers, nurture leads through email, and use of big data, wealth management marketing is changing quickly. Traditional referral networks are being disrupted, and you need to have a digital marketing strategy for your wealth management business.

Marketing Suggestions for Wealth Management

Here are some areas to consider that can round out your wealth management marketing plan:

  • Do you have a content marketing strategy that puts your ideas on display on authoritative news platforms? Google algorithms will raise your visibility in search if you do.
  • Is your website optimized with the right keywords to capture search traffic, and elevate you when someone types in queries that describe your offerings most precisely?
  • Are you making sure your ideas are visible in social media, so that you stay top of mind in your traditional referral networks?
  • Do you nurture prospects in email? Do you draw in new prospects through digital lead generation?

Marketing a wealth management practice today is about all of these things. And it’s definitely about much more than your own website. Anyone who is referred to your business is capable of seeing who you are through your digital presence. When a prospect gets two referrals, they are more likely to gravitate towards the one with the most visible expertise. Proxy indicators such as your commentary being carried on news platforms are tremendous convincers.

Have you Googled yourself recently? What do you see? Are you on the first page of results? Where are you compared with your competitors? Do your referral sources in the legal and accounting worlds link to your site? Are you anywhere besides your own website and LinkedIn?

Of course, it takes time and effort to build a profile that positions you as a thought leader. That is where we come in. Our teams are expert in getting your ideas into the business and trade press as opinion and commentary. Our professional editors can also help you make sure the pieces you create are compelling, readable and worthy of sharing.

Once you have produced content, it’s critical to get it into the hands of the right influencers. This requires the right research and social media strategies.

These wealth management marketing best practices do take a fair amount of work. But this is how you drive business results in the changing wealth management marketing landscape.

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