Financial advisors help individuals and companies take current decisions regarding investment of their money at the right place in the right time. While one does this, their clients grow their invested money which builds their trust on the advisor. When this happens repetitively, with different clients, a network of individuals is created who can trust you with their money and will invest in you.
So, the most basic marketing technique every financial advisor must use is developing their network while gaining the experience of a financial advisor. When you grow your network, they bring you reference clients and they help you gain new clients through testimonials. Also, when you build a prospect through other marketing channels like the ones mentioned below, you can connect them with your current client testimonials for quicker and greater conversion rate.
Also Read: 7 Top Digital Marketing for Banks Trends
Let’s delve deeper into how to find clients as a financial advisor other than networking.
How to Get Clients as a Financial Advisor?
The strategies mentioned below are very precise and clear. You can check them out and start implementing now for a greater future growth.
1. Find Your Target Market
A target market is the one who you think are more likely to purchase your services. For example, if you are new in business, as a financial advisor, you wish to target small enterprises in your state / city who might be looking out for financial advisors for their investment purposes.
You develop a persona of the people in your target market you will be focusing on. As per that persona, you can define your target market’s needs, their expectations, and the gaps in current market scenario that you can fulfil with your service offering.
When you define your target market, you can define where you can find maximum of your target market and promote your services there. This way, you can reach out to more prospects in one go and you can understand as well as cater to their needs.
2. Niche Down
Once your target market is finalized, you then must decide on the financial advisory niche that you want to be called expert in. Since there are several niches in the field like investments, taxation, wealth management, retirement planning and many more, you must be clear on what financial advices you can deliver the best and your clients can trust you on.
You can niche down based on your previous experiences and your passion. For e.g.: If your previous experience was in providing long-term investment planning to business owners who are into trading commodities business, then you can start with that niche. This way, you can showcase yourself as an expert in the field and you feel confident while delivering your initial orders.
3. Start with Some Good at Cold Outreach
Cold outreach is to reach your prospects through cold marketing efforts like emails, Instagram DMs, LinkedIn messages and more. If you will be looking out for the services, they might check out your message and if they find it relevant, you may get a response from them for a call or further discussion.
These cold emails must be highly personalized, clearly defined problem along with the solution and very precise. It should be short, interactive and actionable. Example of a cold email:
Hi {{first name}},
Been following your story for a while and finally checked your LinkedIn, impressed with what you’ve build at {{company name}}
I’ve been working with {{niche/industry}} clients over the last 5 years to {{problem you are solving}}, and would love to discuss {{how you will solve their problem in short}}.
Just wrapped a project with {{name of your previous successful project}} for whom we could increase the {{results in short}}.
Mind if I send a few times to talk further? Would love to do similar work for your website.
Thanks,
**The above is just an example of a cold outreach email. It may differ from industry to industry and company to company.
Your cold email / message must have 3 things:
- The problem statement
- Case study showcasing the result and how you solved that problem earlier
- Call to Action
These important things help you in building trust with your prospects and hence receive higher response from the marketing campaign.
Also Read: Digital Marketing for Financial Advisors
4. Ask Your Existing Clients for Referrals
Since your existing clients know about the quality of work you provide, they can be your mascots to generate more leads. Financial advisory is a requirement of every individual as well as businesses. If your client is happy with your work and results, you can request them to share your reference to their family and friends who might be interested in the services you are offering.
This word-of-mouth publicity helps in conversion of lead also faster. Since your client trust your work, and their family / friends trust them, it becomes easy to convert these prospects into customers. You can also offer some referral bonuses to your clients which will motivate them to further discuss the services with their known people.
5. Be Digitally Literate; Embrace Financial Technology
Technology has opened several doors through which you can reach more customers through different channels. Since COVID, the use of technology has increased among all generations and they are reaching out to companies as well using technology.
By leveraging technology through video conferencing, CRM systems, even through your own website and social media page, you can reach out to several prospects. When they check out about your online presence along with your existing client’s testimonials, it builds trust and you are likely to convert this prospect into customer soon.
6. Join and Participate with the Right Communities Online
Participating in the communities with like-minded people as well as with the people interested to know about similar products like that of yours, will generate your direct contact with them and quick follow ups will help you convert these prospects into customers.
7. Grow Your Organic Traffic with Good SEO
A well-optimized website will help you rank your website on search engines like Google, Bing and more. When people search for the services similar to yours, then you will appear on the top of results – generating more traffic towards your website, more people learning about your services and more conversions.
You can select the most relevant keywords through Google’s keyword planner tool, insert them relevantly on your website content, properly structure your website’s content for it to be more user friendly and reach out to other websites to link back to your website for building your website’s brand online. SEO Connect can help you out with all your SEO and other digital marketing needs.
8. Keep Updating Your Site and Portfolio
Since the updates in every industry is continuous these days due to rapidly growing technology and other products. So, when you are updating your content on your website and your portfolio, your target market is aware that you upgrade your services with the update in the industry – developing more trust towards your work and your organization.
9. Manage and Maintain Your Social Media Pages
When an individual or an organization checks out about some company or individual, they tend to check their social media pages. Like they check Facebook for general understanding about the company, LinkedIn to check the accolades and industry specialization and more. So, you must keep the content updated for them to receive latest updates about you and your work status.
Also Read: How to Search for Keywords on a Website?
Conclusion
how financial advisors get clients is a straightforward route given you take constant and consistent efforts. It is essential to continuously build network through different methods mentioned above which will eventually pay your way!