Creating an engaging client experience that is personal, fast, easy and useful
Over the past decade at Goldmine Media, we’ve seen the financial service sector undergo an unprecedented structural change. All financial adviser businesses now face a number of challenges in a post-crash market, including more stringent regulations, a more demanding consumer, competition exploiting disruptive business models, and how best to integrate new technologies internally.
With the potential threats from disruptive, agile new business models and declining brand loyalty among clients, the sector has to place increased importance on the client. But despite a dramatic increase in an online audience, it’s been well documented that many financial advisers have been slow to adapt to the changing digital-first preference of many clients.
My clients don’t use the Internet or social media!
At Goldmine Media, we quite often hear from financial advisers who tell us, ‘My clients are all nearing retirement, or are retired, and don’t use the internet or social media.’ This is a big mistake to assume these clients are not active online and embracing social media – and this is great news for the more innovative financial adviser businesses that are embracing technology. According to a study from Pew Research during 2018, the age demographic using Facebook between 50 and 64 was 65%, and aged 65 and above was 41%. These are statistics that can’t be ignored.
Before beginning your digital journey, it’s important to get a clear look at the road ahead. To help you, I’ve identified five key digital marketing recommendations that will make your journey a lot more prosperous.
Data & Analytics
Providing a personalised and data-driven client experience is the key to earning trust and reaching the right clients at the right place. Digital transformation is forcing the more innovative financial adviser businesses to change their business models and adapt to the new market reality. What’s interesting about this is that it’s not the businesses that are driving this change. Instead, this change is being driven by the client.
Today, clients expect relevant content in relation to what they’re doing anytime, anywhere, and in the format and on the device of their choosing. It’s their journey that should dictate your strategy. And in order to keep up with this new kind of ‘always connected’ client, your business needs to embrace technology to deliver an unmatched client experience.
As with marketing for any industry, putting a focus on analysing your audience data will only lead to more effective results down the road. Aside from benchmarking your performance, regularly tracking certain KPIs will shape your digital strategy.
Today, more and more financial adviser businesses are realising that true competitive advantage lies in creating an engaging client experience – one that is personal, fast, easy and useful. The only problem, as we often hear at Goldmine Media from financial adviser businesses, is they are not sure how to create it. We use advanced analytics to enable financial adviser businesses to create enhanced user experiences, leading to higher satisfaction – and loyalty – in the long term.
Audience segmentation is a crucial aspect of marketing for all financial adviser businesses, and it’s something that must be focused on, as it informs all other aspects of both marketing and advertising. If you know what is important to your audience, you’ll achieve much higher success rates.
What does that mean exactly? It means that clients are savvy, and they know when they’re being marketed to in a broad, impersonal way. And that means that when clients are communicated to in a helpful and genuine way, tailored to their specific needs, they’ll think a lot more highly of your business.
Audience segmentation means using one or more demographic traits to identify your target client. The more you can narrow your audience and understand your client personas, the better you can identify what they want and provide it to them. It’s essential to keep in mind your various client personas and what type of messaging they’d like to hear on each step of their client journey, whether you’re constructing your email campaign plan, creating audiences for social media ads or planning out your content calendar.
Higher-value clients will require different marketing than other types of clients. This doesn’t mean you should ignore or de-prioritise these clients with low levels of engagement., but you should engage with these clients with different tailored campaigns. Don’t forget that some of these could be your higher-value clients of the future.
Voice Search Optimisation
Voice-activated search is gaining prominence every day. In other words, we are rapidly approaching a voice-first world when it comes to internet searches, much like how we moved into a mobile-first world recently. Because the way that prospective and existing clients search is changing (yet again), this means that you need to re-optimise your business, content and websites to keep up.
Siri, Alexa, ‘Hey Google’…chances are that you’ve asked a machine to do a search for you recently. Voice-activated search assistants can be extremely handy and are becoming more and more prevalent. They’re also completely changing the search engine optimisation (SEO) landscape.
Optimising your website pages to better match the way that people are searching will only lead to more SEO success in the future. It is predicted by OFCOM that voice search is set to account for 50% of all searches by 2020.
When curating content and developing your strategy, it’s important to keep in mind the types of queries your clients will have while visiting your site. Blog posts and on-page copy should include conversational types of answers to common questions (i.e. Who, What, Where, When and How).
Mobile Marketing and Optimisation
Mobile marketing is no longer optional for the majority of financial adviser businesses. Smartphones are more popular than ever, and website users are now using their phones for searches more often than their desktop computers. And the good news is that prospective client conversion rates from a smartphone are up 64% according to OFCOM, compared to desktop conversion rates. By optimising your mobile marketing, you can dramatically raise your business’ conversion rates and lead generation.
Creating mobile-friendly content should no longer be a second priority. If your website isn’t mobile-compatible in 2019, you’re running the risk of falling way behind your more innovative competitors. In fact, just being compatible isn’t good enough – your content, interface and entire online presence should be built to excel on smartphones and tablets.
For better mobile marketing, you need to understand the difference between how mobile users and desktop users perform searches. One of the most significant differences is that mobile users usually perform more specific searches. When it comes to keywords for mobile marketing, it’s all about context. Long gone are the days of optimising your site and your content for vague keywords or phrases. At Goldmine Media, one of the services we provide is to show you exactly what your prospective clients are searching for based on the type of client persona you are looking to target.
Google, the most used search engine, now brings up search results based on user intent. Its forthcoming mobile-first indexing will rank and index listings based on the mobile version of the site, even if the user is searching from a desktop. So it’s essential that you ensure your website appeals more to mobile users by focusing content on more user intent and by answering common questions your site users may have.
Video marketing remains important
Incorporating video into your financial service marketing strategy can help you to explain more complex financial concepts to your visitors. Videos can also help introduce a more human element to your business, lending to credibility and trust. Google will notice pages with video content and prioritise them to rank higher than ones without. Search engines are looking for content that engages viewers. Nothing entices more numerous and longer page views quite like a video.
Not only that, YouTube is the second largest search engine behind Google. If you put your video on YouTube as well as your website, your visibility and opportunity to show up in search is greatly increased. What’s more, if you promote your video via social media, your chances of getting found increases significantly.
Video should be seen as an investment according to HubSpot, as including video on a landing page can increase conversions by 80%. Watching a compelling presenter in a video can absolutely influence prospective client behaviour and persuade a visitor to convert into a lead (or a lead to convert into a client), as opposed to simply reading the same information alone.
Conveying the right emotions through video is a powerful marketing tool. Plus, they can serve as built-in tutorials or testimonials, depending on the approach you want to take.
Just a few reasons why your business should be using video:
- Quickly deliver your narrative
- Engage your website visitors
- Drive higher traffic volumes to your website
- Give your business a personality
- Increase your reach to a bigger target audience
- Stand out from your competitors
Want to increase your business’ digital presence?
Are you ready to see what our digital marketing services can do for your business? Your business is unique, so if you’re looking to increase your business’ online presence, it’s essential that your digital marketing strategy is tailored to meet your specific commercial objectives. 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: firstname.lastname@example.org.