In a concentrated industry like financial services, it’s hard to convince clients to choose you over another advisor. Having a distinct brand can help make the decision easier for leads and form more natural relationships. When developing your firm’s personal brand, you’ll need to make good use of inbound marketing.
Inbound marketing draws in clients through the use of content marketing, social media marketing, SEO strategy and more. It provides information to clients and builds better relationships with them online, focusing on engaging with an audience rather than speaking at them. We know these terms might be foreign and this might seem like a lot of work, but there are so many benefits. Here are just a few:
1. Cost Effectiveness
Especially for firms with smaller budgets, it’s important that you make efficient use of every dollar spent on marketing. According to Hubspot, 3 out of 4 inbound marketing channels cost less than any outbound channel. Some inbound marketing techniques, like social media, are even totally free! Taking cost into account, there’s no excuse NOT to make strong use of inbound marketing.
2. Building Trust
In addition to its frugality, it’s also more effective than many outbound marketing channels in forming personal relationships with leads. Outbound marketing is often frowned upon by clients. Think about when you’re watching TV. In today’s fast-paced digital world, 86% of people skip television ads. Paid advertising can sometimes be seen as annoying and intrusive, while inbound techniques feel more natural and less manipulative.
Since you’re engaging with your audience rather than just talking at them, clients feel like they’re part of the conversation. In blogs, social posts, and email newsletters, you can show your firm’s expertise and care for your clients. This can start developing a trustworthy relationship with leads before you even talk in person. Inbound marketing techniques also benefit the lead, as you provide them relevant information about their financial journey.
Below, Blanchard Wealth Partners builds trust with its audience by sharing reputable, informative third-party content on social media.
Let’s take for example blogging and SEO, which are among the most popular tools of inbound marketing. Once you begin to provide consistent content that your potential customers want to read, everything else becomes easier. Not only does blogging establish trust between your firm and leads and show your knowledge in the industry, but it also does wonders for your search engine rankings.
By including relevant keywords to your niche, maximizing alt and image tags, and properly using headers, you can boost your search engine rankings and help potential clients easily find you. The more content you make through inbound marketing, the more search engines have to crawl and index. This doesn’t go away, so creating more content accumulates overtime to produce more and more SEO juice.
So, inbound marketing isn’t just a one-time advertisement or commercial; it’s something that builds over time to define your brand image and establish a trusted voice. Below, C.L. Sheldon & Company builds its SEO and brand image with a niche-centered blog on its website.
4. Reaching Newer Audiences
Because inbound marketing is purely executed online, it opens up the flood gates of opportunity to reach an exponential amount of new customers. On just social media alone, there are over 2.77 billion people you can reach. According to Hubspot, 67% of B2C companies have acquired a new customer on Facebook, 42% of businesses have acquired a customer through Twitter, and 57% of companies have acquired one through LinkedIn. Overall, your chances of reaching new clients on social media are pretty high.
On top of social media, blogging and newsletters can reach new clients searching for your services or reconnect with clients that might not have been ready to commit just yet. By including landing pages and forms on your blogs and pages on your website, you can collect information of leads to implement more personalized marketing efforts.
5. Build Brand Awareness
By using inbound marketing techniques like social media, quality blog posts, infographics, and SEO, you’re getting your brand in front of thousands of prospects and are educating them about your company. Content creation and social media posts can give great insight into your team and what it’s like to work with your firm.
Through the use of keywords, well-crafted headlines, and other SEO tactics, your blogs and content will appear in all kinds of search results. Even if a client isn’t looking for your specific firm, they will find your services more naturally through this inbound marketing.
We recommend posting company updates, pictures of trips your team has taken, and other fun posts that give your firm some personality. Marketing shouldn’t just be selling your services, it should also be building a personality for your company to open doors to valuable relationships with clients.