Cold calling, direct mail, and newspaper ads are all strategies a veteran financial advisor who’s close to retiring would suggest.
However, even though these can be effective, they are outdated.
Which means you will be spending a lot of money without proportional results.
And ultimately, the chances of growing as a financial advisor are slim.
This snowballs into a lot of wasted time and frustration for people. Which ultimately leads to them quitting their business altogether.
But with the internet, marketing your services has become easier than ever. And the opportunities truly are limitless.
You can advertise your services to people where they spend the most time.
And here’s the craziest part: You can generate new leads to work with even when you’re sleeping!
This is because you don’t need to cold call, physically mail, or get ads printed every other day for your services.
You only need to set up some important things once.
These strategies require work, of course, but the ROI is much higher than any old methods can offer.
Does that sound good?
Here are the best ways for financial advisors to generate new leads.
Best Ways to Generate Leads for Financial Advisors
1. Set Up Your Website
Think of your website as a soft copy of a brochure you’d give a potential client.
It has all the services you’ll offer, your qualifications, contact details, and accreditations.
So, you’ll want to ensure that it looks amazing and highlights your services best.
You should also include a call to action button on your website, which prompts any visitor to take action now. This could be to get a free report or consultation or hire you immediately.
In either case, you must try to knock people off the fence.
Your website showcases how you can help clients. And builds your brand value in the eyes of any visitor.
Any leads you generate will be led to your website. You’ll have to build a landing page on your site. This is used to eliminate distractions and convert any visitors into paying customers.
Now, most people assume that you only need one landing page. But the more landing pages you have, the more leads you’ll generate.
You’ll often have to give visitors something of value in exchange for contact information like their email ID.
You can add their email to your newsletter or mailing list and follow up on them afterward.
The ‘something of value’ can be a free case study, a PDF on how to invest, or anything you think will be well received by your audience.
The aim is to acquire their email ID to send offers and information about your products.
2. Get Active on Social Media
Consider this – over 80% of financial advisors get new leads through social media.
So, it’s a no-brainer that you should build a strong social media presence as soon as possible.
Creating short-form content on YouTube, TikTok, and Instagram can help people become aware of your brand. The short videos should offer valuable advice to people and will help build your following.
Explaining complicated concepts in-depth on YouTube will also help you grow your audience alongside short-form content.
Over time, your brand will have a lot of credibility simply because people actively listen to you.
And once you have built a considerable fan following, people will be more likely to buy from you.
Alongside content, you should also upload your achievements and testimonials on social media.
This way, people can connect with you beyond the financial advice. And over time, this will result in a higher quality lead.
Consider the above Instagram account. It is a very well-managed page in the finance niche.
There are snippets from the podcast and valuable tidbits of information in images.
Setting up yourself like this will make your social media a lead magnet in due course.
3. Set up A Blog
A financial blog tackles two problems to business growth.
Firstly, it provides valuable advice to viewers. You can ask visitors for their email ID and prompt them to subscribe to your newsletter or mailing list for more valuable posts.
Alongside blog updates, you can also send offers for your consultancy service to people on your mailing list.
Since they signed up based on the blog’s value, they will likely take personalized financial advice from you as well.
As a result, you earn quality leads passively through your blog, which is up even when you sleep.
You should set up the blog as part of your website so people can explore your brand in just a few clicks.
The other problem that it tackles is increasing your online presence. With more backlinks and page visits, your site becomes more visible online.
Set Up Your LinkedIn and Twitter As Blog
Alongside the blog hosted on your website, offer valuable advice or how-tos on Twitter and LinkedIn.
A viral LinkedIn post can increase your visibility rapidly.
As more people engage with your account, they might also check out your profile and website. And if they like what they see, they can sign up for your mailing list or contact you directly on LinkedIn.
Useful quotes on Twitter can also offer the same function – even though it is widely considered a social media site.
All these platforms have one main goal – to help you grow your audience.
4. Ad Campaigns
While blogs and content will help you expand your reach, they aren’t as effective in earning customers.
You need to play the long game and invest in a pay-per-click ad campaign.
PPC Campaign
A pay-per-click campaign is your best bet for lead generation on a budget.
You’ll only be charged for people who click on the ad. As a result, you’ll be able to grow your business even if you’re operating on a tight budget.
Types of PPC Campaigns
There are several different kinds of PPC ad campaigns that you can use.
The most popular is search engine marketing. In this mode, your offer will appear at the top of Google searches for relevant keywords about your industry.
As seen above, the results will appear at the very beginning of the page. They will also have the ‘Ad’ label on the left.
One of the best ways to grab people’s attention here is to put up an offer instead of your name, like the first two results.
The other types of PPC campaigns include display ads, affiliate marketing, and retargeted ads.
Display ads are shown in the form of banners (on the sides or top) when you’re browsing other websites.
These are more visual and show up on most sites that allow ads.
As shown in the image above, you must create a concise, eye-catching ad that makes people curious.
How is it Different From Social Media
PPC ads are not the same as promoted posts on social media.
PPC ads include social media posts and more.
Local SEO is one of the best ways to get high-quality leads, the biggest advantage PPC campaigns offer over social media.
This means when people search for ‘financial advisors near me’ or ‘financial advisors in xyz location’, your ad will pop up.
While your services aren’t dependent on physical proximity, it will still come up in these kinds of searches. Provided, of course, that you set your campaign up that way.
How to Set Up Your PPC Campaign
Here are the basic steps to set up a PPC campaign for your financial consultation:
- Find your target audience. Outline their age, interests, and location (if necessary).
- Research the relevant keywords that your target audience might Google.
- Draft an appealing ad that appears on Google’s sponsored search results.
- Deploy the ad to appear in the results of the relevant keywords.
- Optimize your ad based on the results you receive.
Generate the Best ROI on Leads Through PPC Campaigns
PPC campaigns give you the best ROI of all the steps mentioned to generate leads.
You end up spending a little money, but you get quality leads that you can turn into paying customers.
And since you only pay for the number of clicks on your ad, operating under a budget is easy.
But setting up and optimizing such an ad takes time, effort, and energy.
So, it’s better to leave the lead generation to the experts. Let us create the perfect PPC campaign for your financial advisory business while you give back to clients on a deeper level.
Email us at support@icymedia.ca
Last Updated on by Icy Tales Team