t4 Marketing Innovations Blog

Any last words dear...?

Investment News – a specialist trade publication for Financial Advisers in the US has been doing some research on advisers use of social networking and blogs as part of their marketing strategy.  This is interesting because the structure of the financial advice industry in the US is similar to ours and what happens in America tends to predict what will happen in the UK 5 years down the line.

More and more advisers we talk to want to integrate social media into their marketing plans. They realise making the most of web marketing is an effective way to reach niche markets. Social media allows advisers to communicate with prospective clients who may not be open to traditional marketing campaigns like seminars or advertising. All financial adviser firms should be building social media into their marketing strategy no matter what their target market. Social media is no longer just for the kids.

The Internet is playing a larger role in the lives of financial advisers. Many rely on customer relationship management systems, blogs or postings on social networking sites to attract prospects and keep their names in front of clients.

Investment News found 43% of advisers reported using “social media/online networking sites,” according to “Online Marketing Methods: Planner Best Practices,” a white paper from the Denver-based Financial Planning Association that was released in May.

In addition, 32% of advisers reported that they relied on audiocasts and podcasts, while 17% reported that they used blogs in their practices. The results were based on survey responses from 331 members of the FPA.

The Internet holds great potential for financial advisers. Rather than avoiding the online challenge, perhaps it is time to consider how best to embrace it – not to demonstrate a trendy devotion to technology, but because it’s good for business.

Fully 60% of advisers who relied on social media generated at least 16 leads per year, according to the FPA survey.