If You Haven't Been Paying Attention – Online Marketing is the Key to Success in Today's Digital Era.

"If your business isn't on the Internet, then your business will be out of business."

- Bill Gates

According to Data Reportal’s 2021 Digital Report, the world population stands at nearly 7.83 billion, out of which about 59.5% (4.66 billion) people are active Internet users.

When compared to the past year, there’s been a massive 7.3% surge in the number of active Internet users.

Due to the Covid-19 pandemic, a huge chunk of individuals, solopreneurs, freelancers, and businesses worldwide realized the need to establish their online presence and paved the way for digitalization.

Despite the ever-increasing need to build online presence, I’ve seen most financial planners and wealth managers hesitate marketing their services online. Here’s what they say:

“Online marketing isn’t for us. My growth is subject to word-of-mouth recommendations.”

OR

“My practice is referral-driven. Digital channels won’t help me attract any clients my way.”

But the truth is, in today's digital era, prospects' behaviours are rapidly changing. And the ones who fail to adapt may find themselves perishing.

We live in a technology-driven world, where top guns like Google, Amazon, Microsoft are shaping our planet’s future. It’s a place where people have access to a world full of information at the tip of their hands, which means if you want to attract top high-paying clients your way, it’s a must to harness the power of online marketing to boost your online presence.

This blog post highlights the top 4 reasons why online marketing is a must for financial planners and wealth advisors.

Let’s look at each one of them.

4 Obvious Reasons Why Financial Planners &

Wealth Advisors Need Digital Marketing

Following are the four reasons we’ll be looking at:

·     Your Clients are Online

·     Cost-Effective, Unlike Traditional Marketing

·     Targeted Traffic

·     Advanced Analytics

Your Clients are Online

These days, people are always online. And so are your clients. Almost every single one of us use our smartphones for different purposes, including scrolling social media feeds, interacting with our friends or family members, sending emails, browsing the Internet, etc.

Like I mentioned above, when compared to the past year, Data Reportal's 2021 Digital Report indicates a massive 7.9% surge in the number of Internet Users when compared to the past year.

This means there's never been a better time to attract high-quality traffic and leads your way and ultimately convert them into paying clients.

A well-thought online marketing campaign, when executed effectively, will help you reach out to your potential clients by addressing their pain points and providing them a truly value-adding solution to their problem, rather than just mindlessly promoting your financial services.

Cost-Effective, Unlike Traditional Marketing

The best thing about marketing your services online? Not only can you reach out to your audience worldwide, but it’s cost-effective. This means you won’t find the need to invest thousands of dollars to reach out to your audience and convert them into paying clients.

Instead, digital marketing is budget-friendly and delivers an outstanding ROI when done right.

Depending on your goals and objectives, either you can decide to go at it all alone or hire a result-oriented marketing agency to help you build a full-fledged online marketing campaign and execute it effectively.

But in the end, you'll be able to attract highly-targeted traffic your way while staying under budget, which is the beauty of online marketing.

Targeted Traffic

Imagine spending thousands of dollars running marketing campaigns and not generating even a single high-quality lead. This happens when you try to reach out to everyone, and not the ones who are most likely to purchase your services.

With online marketing, all thanks to platforms like Google Ads, Facebook, LinkedIn, you can set your target audience and reach out to only them and not anyone who isn’t likely to purchase your financial services.

This will help you be subject to a higher conversion rate and an outstanding ROI.

Advanced Analytics

There’s nothing like the metrics Internet has to offer. Trust me, if you want to drive results and make sure your campaigns are a blast, tracking metrics is essential.

What if something’s wrong with your campaign, which is the reason you are unable to generate leads? Not tracking the metrics won’t help you get down to the bottom of the problem. And you may end up wasting your top dollars on a campaign that delivers poor results.

Once you track the metrics, you can learn the reason behind your low conversion rate or poor click-through rate, or bad performance.

And after you do, you can get on with fixing or optimizing your campaign, helping you achieve your goals.

Conclusion

According to a recent eMoney Advisor Survey, out of the 2,000 American adults surveyed, nearly 42% of the respondents claimed that they begin looking for a financial planner or wealth manager online. And about 98% said that a financial planner or wealth manager’s website is critical to them.

And if you don't have a website or haven't already given establishing your online presence a thought, the chances are that you are missing out on your potential clients or prospects.

So, what are you waiting for?

Kickstart your online marketing today.