Saturday, February 23, 2013

Reasons Why Marketing For Financial Advisors Is Tricky And Expensive

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By Dr. Len Schwartz


During the past few years many people have seen their nest eggs and pensions shrink. The collapse of the global economy has caused widespread panic and people are now extremely careful about trusting the advice of investment experts. For professionals to survive in such an environment, effective marketing for financial advisors have become a critical success factor. It has become one of the most competitive markets and it is difficult to gain the trust of new clients.

No professional can afford to ignore the tremendous influence of the internet. Most consumers use this vast platform to find products and services and to conduct research before making any decisions regarding their money and savings. Potential customers need to find the site easy to use and they must have ready access to all the information they could possible need. Failure to maintain an efficient website can almost be compared to professional suicide.

The main problem with most websites, even the most professional ones, is the fact that the competition is so fierce. Internet users employ search engines to find websites that will cater for their specific needs. The problem is that users are routinely presented with lists containing millions of sites that match their search criteria. It is therefore of the utmost importance to hire professionals to devise a search engine optimization strategy.

Newsletters are extremely useful in reaching potential clients and to create traffic for a website. It should be kept in mind, however, that many internet users do not like unsolicited emails. Care should therefore be taken to allow users to unsubscribe. If the newsletter contains truly useful information and if it is prepared professionally, users generally would not see it as spam.

It is astonishing to learn how many professional money managers urge their clients to trust only tried and tested professionals and then continue to design and manage their websites and newsletters themselves. Modern consumers are sophisticated and unprofessional websites and tardy newsletters are sure to reflect badly upon the professional abilities of the money manager. It is truly best to hire the services of experts in the field.

Online consumers tend to trust the personal recommendations of other users. Many consumers peruse consumer feedback websites before they make a decision regarding which professional they will approach. Money managers will do well to ask trusted clients to leave honest feedback on such sites. These personal recommendations are worth much more than any other form of advertising.

To keep succeeding with advertising efforts it is very important to use a variety of techniques to reach all potential clients. It is equally important to implement systems whereby the effectiveness of each method is measured. Many professionals spend inordinate amounts on campaigns that do not yield results. Online selling efforts should also be monitored and adaptations should be made if traffic is not translated into business.

The instability of the markets everywhere in the world has made it difficult to devise marketing for financial advisors. Investors are scared and they are wary about trusting a money manager. The key, therefore, is to focus advertising campaigns on gaining trust and to portray the expertise of the money manager. Clients want to know that their futures are safe.




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