You have seen how the Internet has impacted other industries. It is just beginning to impact the powerful sales culture that dominates the financial service industry.
According to Google, one of the biggest trends on the Internet is people using its resources to find, screen, and contact all types of professionals – in particular financial advisors.
In the past, financial professionals controlled the information that investors used to make their advisor selection decisions. The Internet has changed this dynamic forever.
Today, investors have access to vast amounts of advisor information that resides in the public domain: Advisor websites, Google name searches, third party websites (FINRA, BBB), etc.
What they see on the Internet has a major impact on who they interview and who they ultimately select to be their financial advisors.
A Paladin founder co-authored a book on this topic: 5 Steps for Selecting the Best Financial Advisor. How the Internet Has Changed the Game for Investors and Financial Advisors.
Online Search for Advisors
Investors have to be able to find you on the Internet to contact you. This makes your Internet visibility a critical component of your digital marketing strategy. Done right, this visibility will drive the ideal types of traffic to your website.
Website Conversion Rates
Investors can find you on the Internet and protect their identity while they learn more about you. This makes your website a critical part of your digital marketing strategy. It has to convince visitors to give-up their anonymity and submit their contact information.
Inbound vs Outbound Marketing
The Internet opens the door to Inbound Marketing practices (investors initiate contact). It can also make Outbound Marketing practices (you initiate contact) obsolete – for example, telemarketing and direct mail.
The Digital Advantage
Digital marketing, done right, is an investment that will pay dividends for years.
It can make the Internet your best source for high quality leads (the pot of gold). Leads are higher quality because investors visit your website before they make the decision to initiate contact.
When to Start?
When is the right time to use the Internet to start building brand awareness, website traffic, and prospects for your services? Our experience, working with hundreds of financial advisors, shows the timing is right when:
- You believe the Internet can be a major source of new business
- Your other marketing strategies are producing diminishing returns
- Your marketing budget will support an effective digital marketing strategy