In a recent blog post, Jack Waymire shares 10 common mistakes when it comes to online marketing for financial advisors. “You’re a financial advisor and you’re online – that’s great! But are you online correctly?”, asks Waymire. He mentions that many financial advisors jump into the world of online marketing without knowing exactly what they should do. They trust an online marketing firm, because of its brand name or because someone they know recommended it.
What are the 10 common mistakes financial advisors make when they first dive into online marketing?
- Static website
When first going digital, a financial advisor is often blinded by the exciting look of their new website and may not notice that there isn’t a single offer that encourages potential clients to take action.
- Too much jargon and unexplained acronyms
Simply put, if your website uses a lot of industry jargon, you will lose your audience.
- Too much text
A picture can really be worth a thousand words.
- Not mobile-friendly
Are you aware that a website looks different on different platforms? For example, a website may look fine on a desktop, but is cut off or loads incorrectly when opened on a Smartphone.
- No social media presence
Social media is no longer only being used by Millennials. More and more people are turning to Facebook, LinkedIn and Twitter to find reviews and more information about a financial advisor.
- Following controversial people
Since we’re on the topic of social media, remember that investors are using these platforms to learn more about you. If you follow controversial people or make political statements, this can be a turnoff for some clients.
- Sharing too much
Sharing too much is another common mistake often made on social media.
- Incorrect or outdated information
Whether it’s a wrong telephone number or an old address, this frustration leaves a negative first impression.
- Continuing outbound marketing strategies
Online marketing for financial advisors is based on an investor finding you, and not the other way around.
- Doing too much yourself
Sometimes it best to outsource certain elements and rather concentrate on what you do best …giving financial advice.
Click here to access the original blog post.
Then, of course, there is the little issue of new legislation around advertising published by the FSCA which places onerous obligations on you. If you are going to outsource, make sure you use a provider who is up to date with these requirements.