5 common marketing challenges faced by financial advisers

Abigail Spencer Digital marketing, Websites

Reading Time: 4 minutes

First impressions count in the personal finance and wealth management world

When it comes to digital marketing for the financial services sector, it’s a highly competitive arena. You’re competing with everyone from high street banks to platforms such as Hargreaves Lansdown.

Nowadays, first impressions are increasingly happening online. Studies show that first impressions are made within the first few seconds when a prospective clients visits your website. That is why every financial adviser business should develop marketing strategies with a clear online vision because you’re unlikely to get a second chance to make a good first impression.

Having an eye-catching website is simply not enough in an extremely competitive and changing business environment. It’s essential that your website uses the latest design trends and marketing techniques to deliver a unique and fluid user experience. Creating trust and delivering high-quality information and content will allow your business to engage with prospective clients and allow you to start a conversation with them.

5 common marketing challenges, and how the latest digital marketing best practices can help solve them:

1. Driving traffic to your website

In today’s crowded financial services marketplace, it isn’t easy to capture the attention of prospective clients. At Goldmine Media, we often hear that many financial advisers consider their biggest marketing challenges to be generating website traffic and then converting this into leads, enquiries and eventual business.

Creating relevant and valuable content is one of the best ways to get found by a target prospective client, and it also forms the foundation of an effective inbound marketing strategy. However, simply producing great blog posts, videos or infographics isn’t enough anymore.

You need to optimise your content for search engine optimisation (SEO) – so it can be found in searches – and design a promotion strategy to distribute it across different omni channels. Paid advertising, social media marketing and email marketing are just a few ways to maximise the ROI of your content.

2. Targeting content to the right audience 

Creating great content is only the first step. It’s important that you deliver the right content to the right audience through the right channels to progress a prospective client down the decision-making process path.

The first step to successfully targeting your content is to gain a deeper understanding of your prospective clients by creating a series of client personas that reflect the psychologies and priorities of your ideal client audience.

You can then glean buying insights, such as priority initiatives, success barriers, perceived barriers, buyer’s journey and decision criteria, to help position your content so it’s relevant and valuable to those you want to reach.

3. Leveraging data for your marketing campaigns

Today, financial adviser businesses have access to large amounts of client data. But without the ability to extract actionable insights from the information, it could be more confusing than helpful. With the aid of artificial intelligence, predictive analytics and marketing personalisation technologies, Goldmine Media can show you how to leverage client data to augment your marketing campaigns and increase your ROI.

You’ll be able to gain insights by analysing their online behaviours so you can deliver the most relevant content and offers via paid advertising or a personalised website experience.

In addition, we’ll map a client’s profile and online activities to aggregated data and generate product suggestions using predictive intelligence.

4. Turning website visitors into clients

Getting traffic is great, but it won’t do you any good if visitors aren’t turning into clients. When you look at your website analytics, you may be surprised to find that you’re losing many visitors that don’t make contact with you and simply leave the site.

Converting your website visitors into clients should not rely on hope. In fact, it’s very much an art and a science. If you want to convert as many of your visitors as possible, then you need to optimise your website for conversions.

Conversion rate optimisation (or CRO for short) is the process in which you’re increasing the rate that your website visitors are converting. A conversion can be anything from simply viewing a specific page of content, to downloading your company brochure or submitting a contact form request.

5. You need to establish what conversions you want your website visitors to make, for example:

  • Signing up for your newsletter
  • Completing a contact form
  • Getting visitors to use an online calculator
  • Seeing a particular page or certain content from your website
  • Downloading your app
  • Getting visitors to give you a call or schedule one
  • Getting visitors to follow you on social media and engage with you

Once you know what you want visitors to do while on your website, you need to find the best ways to optimise your website so that you can ‘push’ visitors into taking these actions. 

Bridging online and offline marketing

If you’re promoting your business through direct mail, events, seminars and other offline tactics, you may find it difficult to capture those leads and turn them into clients. As the line between online and offline marketing is blurring, you need to make sure existing clients and prospective clients can interact with your business seamlessly across all touch points.

After you have collected prospective client information offline, make sure you have the ability to continue the conversation via digital channels. The foundation of any successful omni channel marketing strategy is the creation of a single client view on a centralised database.

Whether you’re starting from scratch with a CRM system or bringing an existing client base into a new CRM system, keeping all your contact data in a CRM will help you stay organised and improve your marketing outcomes. Your CRM system will enable you to build a relationship with your clients that, in turn, creates loyalty and client retention. Since client loyalty and revenue are both qualities that affect your business’ revenue, a CRM system is a management strategy that will ultimately result in increased profits for your business.

Looking to tell your story and make sure it is both heard and followed?

If you want to grow your business using our proven formulas to increase your traffic, generate more leads and make more sales, then it’s time to talk to us. For more information about how Goldmine Media can help your business, talk to a member of our Business Development Team on 0845 686 0055, or email: findoutmore@goldminemedia.co.uk.