We specialize in Local Marketing and not a specific business type. We work with many local small business owners within a diverse range of business types. Each week we post an article with marketing advice for a different business type that we support.
Marketing in the financial services industry can be challenging. Not only is this a very competitive business with large players with deep marketing pockets but consumers are naturally cautious when selecting the right financial partner to trust for investments and wealth management. This is because a wealth manager determines a family’s financial stability for decades. As a wealth manager, an effective marketing strategy can help build loyalty and trust to your prospective clients. Here are some of the best practices we recommend as part of a marketing strategy for wealth managers:
Identify your Target market
What’s your audience? Narrow your market to whom you will promote your wealth management services. It helps you concentrate on locating prospective clients. Narrowing your market also enables you to know what type of clients you are planning to attract through marketing efforts. Once you identify your target market, focus your marketing strategy towards that particular audience. For example, if you recognize high net families as the best target market for your wealth manager business, promote yourself in large professional organizations.
By having a strong online presence, your wealth management business becomes easily accessible to your customers. Besides, social media sites provide affordable marketing options for your business. Update your Facebook, Google or LinkedIn pages regularly with promotional and informational content on the financial services you offer and run ads. Blogging is also a way to gain prospective clients and show that you are active. Guest blogging can help reach out to new customers.
Develop an attractive website
Develop a website for your financial services business. A website is the first impression prospective clients get from your wealth management business. Potential customers will traditionally check your website to do their research on you. Through your website, you can provide clients and prospects a summary of the services you offer, contact information and location of your business. A website helps you feature recent news about your firm, your strengths, and achievements.
Join the local business community
If you want to add more customers, get involved with local chambers of commerce or business groups. Chamber memberships offer significant opportunities for visibility and networking with other businesses.
Some leads come from networking, and there are plenty of local organizations that can help you meet potential clients and other small business owners.
Sponsorships of local events and teams
Sponsor local events and teams to attract more clients to your wealth management services. For instance, you could consider sponsoring a networking event at the local community golf club. This can help you build relationships with individuals who might be in need of financial services. You can also donate funds to the local school sports team as a way of giving back to the community.
Make sure to use SEO to show up at the top of search results when people search for a given term related to financial services. For example, when clients search for ‘wealth managers in Dublin’, and you are located in Dublin, SEO will make sure your wealth management business is easily discoverable at the top. You will attract more clients through SEO.
Finally, ask for referrals from current clients. This will help you build a client base as well as retain your existing customers. Also, your current clients may have friends and relatives who may also need your wealth management services. This is a great way to market your business.
These are some of the best practices that Ellipsis Marketing recommends as part of a marketing strategy for Wealth Managers. Through our Readymade marketing services, we can help you effectively implement these marketing strategies, at affordable rates!
Tags: local,marketing,wealth managers