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November 03, 2014 at 09:05 AM
In this series of articles, I’m going to address the seven deadly financial advisor marketing sins that continue to cost advisors like you tons of money.
These marketing sins pertain to all marketing channels, not just digital marketing. However, a majority of them pertain to Internet marketing, merely because I have found that to be the future of marketing in this industry.
Finally, the great news is that all of these can be corrected quickly. The big question is, will you make the changes and implement them where needed?
Here are the seven deadly financial advisor marketing sins of 2014:
1. No call to action on your sales and marketing material
The biggest sin that I continue to see on financial advisors’ sales and marketing material is in the call to action (CTA) department. More particularly, not having a legit and solid call to action on all of your sales and marketing material.
Let me first show you some examples of non-working calls to action that I see on so many financial advisor websites.
- “Click here for your free consultation.”- Might as well tell them to come into the lion’s den so they can get sold something. Are you really shocked that no random website visitor takes action on these?
- “Call now to book a time to come in.” – Ditto from above. My guard goes up just typing this.
- “Sign up for our newsletter.” – Why? What is the benefit? Why should I care about your newsletter? I get enough email as it is.
So, what does a good call to action look like?
To begin, it needs to:
- add value,
- be incredibly clear how the call to action will improve their life,
- improve their finances,
- make their life easier.
If you can remember these simple things when crafting your calls to action, you will see massive conversions compared to the other non-working examples above.
Always talk about the benefits (not the features).
For instance, here is an example of a feature/benefit play on the annuity front. If I wrote in one of my sales or marketing messages that my favorite annuity comes with “annual reset,” most consumers would glance over this feature. However, if I said my favorite annuity comes with the ability to lock in your gains every year, that you can never lose a penny, and that in down years, you can “reset” your S&P 500 value and work your way up without having to make up the losses like your friends in the market, then I have painted quite a different story here. So always talk in terms of benefits!
