There is no reason to panic as yet, as in this article we will be covering some proven and effective digital marketing strategies that wealth managers can use to grow their AUMs.
So, what is the fuss about branding? Simply put, branding helps establish potential clients’ expectations about your services and products. Your prospects can choose from a multitude of options, ranging from full-service brokerage companies right down to robo-advisors, which is why it is vital that your Unique Selling Proposition (USP) and uniqueness are at the very heart of your marketing strategy.
With your brand, you convince a client that they should pick you over a competitor. Furthermore, branding should also reflect the reasons that you are the perfect fit for your clients – even more so than a giant companies like RBC or TD Bank.
2) Social Media Marketing:
You are probably aware of social media’s power in spreading the word and raising awareness. But are you also aware of its effectiveness in reaching and attracting new clients? Social media possesses several aspects that make it a viable tool for delivering customized versions of your marketing message to potential customers.
For instance, you can use targeted messaging across multiple platforms to make persuasive appeals to your prospects. Here are several ways you can use social media for your financial advisor promotional and marketing objectives:
- Use ‘hash tags’ that are relevant to your content. On the flip side, you can use relevant hash tags to obtain a diverse range of topics that you can provide content on. #WealthManagement #FinancialLiteracy #RetirementPlanning are just a few of the numerous hash tags that you can use.
- Publish information related to your events, articles, and webcasts.
- Social selling.
3) E-mail Marketing:
It would be highly unwise to believe that e-mail marketing is obsolete and has no marketing role. On the contrary, it is a crucial cog in a financial advisor’s marketing wheel and allows you to maintain connections with both your current and past clients.
Not only do you create regular touch-points through consistent newsletters, but you can also utilize the power of e-mail for cross-selling any pertinent financial products. Moreover, there are several services that help with the automation of such marketing efforts, while also providing useful metrics such as click and open rates. This information can then be used to follow up with any interested prospects, thereby increasing AUM in the long term.
Taking the first step with digital marketing can feel challenging and overwhelming, but trust us when we say that it gets easier, especially when you have the above 3 strategies to use as a foundation for your marketing plan. To learn more about the digital marketing strategies pertaining to your financial advisory services, please feel free to reach out to us.