There’s no one–size–fits–all when it comes to marketing your services as an advice firm.
Social media might work to attract enquiries from one type of client, but fall completely short for another. Experts say the key is to know your target market and adopt a marketing strategy that appeals to them.
To start with, advisers need to clearly understand the key challenges and advice needs of targeted clients to be able to market to them successfully, says Vital Business Partners-owned Elixir Consulting founder Sue Viskovic.
Publishing carefully crafted articles answering typical questions posted online can be a powerful strategy to educate future clients, and position an adviser as a trusted voice and subject matter expert. These articles can be an easy way for current clients to expose their connections by sharing your content, she tells Professional Planner.
“The more you can speak specifically to their unique needs, the stronger the attraction,” she says.
“A great proof point is to check if you’re targeting a specific niche, whether your article speaks to that audience.”
If you’re targeting mums and dads looking to start their investment journey, you’re not going to attract them to a seminar on a weekday, unless it’s held at lunchtime, near their work, or hosted by their employer, she adds.
“Identifying other professionals who serve your targeted clients and building relationships for mutual referrals is another good strategy,” Viskovic says.
Haissam Aoun, co-founder of financial advice marketing firm Better, believes that robust research will give advisers a significantly higher chance of success.
“Advisers need to find something unique about their business to communicate with clients that gives them a reason for choosing you, as opposed to working with any other adviser out there.”
Finding that unique selling proposition is something advisers struggle with, he says.
Before launching an advertising campaign, advisers need to gather key insights such as:
- Search demand: The volume of Google searches for your specific service or specialty. This provides a clear picture of the size of your potential customer base.
- Customer language: The specific terms and phrases investors use when searching for your services. Speaking your customers’ language ensures your message resonates and improves connection.
- Competitive landscape: The number of competitors targeting the same audience. Understanding your competition helps refine your unique value proposition and strategy.
- Cost-per-click: The average CPC for your market. Knowing this allows you to set a realistic advertising budget and manage your campaign expectations effectively.
Money coach Karen Eley agrees that advisers need to understand why existing clients come to you.
“Investing is one of the most common reasons clients seek our advice, as it’s daunting, requires expert knowledge and there’s a potential to lose your money if not done well,” Eley says.
“This presents an opportunity for advisers to incorporate content around how to get started, or what you need to do before starting investing in your messaging.”
For mum and dad investors, the focus should be on simplicity, accessibility and empowerment.
Content like ‘5 things you need to know before investing’ is a good starting point. Combine this with relatable storytelling and visuals that demystify investing and highlight success stories.
“Social media, blogs and easy to digest videos can help bridge the knowledge gap and build trust,” she says.
To effectively target both retail investors or high-net-worth clients, advisers should tailor their messaging to meet their concerns and aspirations, while focusing on education and trust-building.
“Use thought leadership tools like white papers, webinars, and case studies highlighting solutions to position your practice as an authority in navigating complex financial landscapes,” Eley says.
With all marketing use clear calls to action, offering discovery calls or downloadable resources that create low-pressure ways for prospects to engage with you further.
“The most important thing is to ensure your marketing speaks directly to the audience’s emotional needs and financial goals,” Eley says.
