Online Marketing Strategy for Wealth Managers: What You Need to Know

Every wealth manager’s marketing efforts need to reflect the unique and complex nature of their business. After all, an investment adviser’s primary responsibility is to the individual(s) they are advising, so it follows that their marketing focus should reflect this responsibility. It’s not about selling a product and pitching to the masses – it’s about understanding what your audience wants and needs, and using this knowledge to provide the best possible service.

If you’re new to the field and wondering where to start, this article will outline some key considerations for establishing and following an effective marketing strategy. We will cover everything from digital marketing and content creation to social media and email marketing.

The Role of Online Marketing in a Weath Manager’s Strategy

In any market environment, marketing is an important aspect of business, especially for those just entering the field. It is not only about selling a product but about understanding your audience’s needs, wants, and expectations.

Even for experienced executives, the digital age has presented new challenges. In the past, marketing was mainly focused on reaching as many people as possible with printed pieces of paper. Now, with businesses evolving to embrace the digital age, marketing theorists must adapt and evolve their strategies to ensure their messages are being disseminated to the right audience, at the right time, and in the most engaging way possible.

Marketing is a key consideration for any business, but it is especially important for those who offer advisory services. An investment adviser’s success depends on the number of people they can reach, and reaching the right people is what brings in the business. Since the bulk of their clientele will most likely already be highly influenced by the media, marketing professionals should work diligently to create brand awareness, preference, and demand for their products and services among savvy web users.

Attracting and Maintaining a Wealthy Audience

As previously stated, reaching a large audience is key to any successful company or marketing campaign. For example, consider a financial blog with thousands of daily readers. To ensure these individuals are not simply consuming content but are actively engaged in a meaningful way, an experienced marketer will create content that is both authoritative and engaging.

To attract and retain a wealthy clientele, a wealth manager’s digital marketing strategy should embrace the following:

  • Blogs and Blogging
  • Viral Content
  • Infographics
  • Email Newsletters
  • E-commerce
  • And Much More

By actively participating in the financial blogging space, this brand can establish themselves as leaders in their industry, and create a trusted channel for prospective clients to learn about the firm. A strong financial blog is a great way to demonstrate your expertise and attract the interest of high-net-worth individuals.

A robust e-commerce store, or online shop, is also a fantastic tool for attracting and engaging with a high-income audience. An online shop provides an easy and convenient way for consumers to purchase the products and services a wealth manager offers, opening up more avenues for potential clientele.

What Type of Content Should You Create?

With a bit of a shift in emphasis, let’s take a quick look at some other considerations to keep in mind when developing your digital marketing strategy.

Firstly, as an adviser, you will be creating content on a daily basis. However, you do not need to limit your content to financial blogs and e-commerce stores. Remember to remain consistent and have content published frequently throughout the year to establish yourself as a thought leader in your industry. Furthermore, ensure the content is of a high quality and is as engaging as possible.

Secondly, it is important to target your content, both online and offline. Established businesses in your industry will be key readers and supporters of your content, however, it is also important to establish a base of interested individuals in your niche.

To attract online readers, you can create content to interest and engage these individuals. If you are creating content for physical distribution, consider using a content mill to distribute your publications. A content mill takes the drudgery out of content creation for businesses and organizations, providing high-quality content on an ongoing basis. This is a great way to attract and retain a wealthy audience.

A brand or business that consistently produces top-notch content will gain credibility with any educated audience. Furthermore, creating content for both online and offline environments is the best way to establish your expertise and allow your blog to flourish.

Building a Reputation as an Industry Thought Leader

To build a solid reputation as an industry thought leader, you must prove you have both the knowledge and the ability to deliver on your promises. A key tenet of successful digital marketing is the use of digital marketing metrics to measure the effectiveness of your campaigns.

Your blog will form an integral part of your marketing strategy, however, it is not the only platform you need to be working on. Building a strong digital presence on various social media channels, especially LinkedIn, can further enhance your reputation as an industry expert.

Establishing a strong digital footprint on social media can provide great benefits to any business, making them accessible to an audience of millions. If your objective is to build a strong reputation as an industry thought leader, establishing a solid digital presence on social media is a great place to start.

Thought Leadership in the Financial Industry

Since the financial industry is all about trust, it is essential to establish yourself as a leader in your industry. To do this, utilize the above discussed qualities of both knowledge and ability, and make sure your peers and clients believe in you. One way to achieve this is by creating and curating content that is both authoritative and respected.

Content curation is the process of selecting, organizing, and structuring content, usually from different sources, to create a new, authoritative piece. While this process can be daunting, the results of a well-curated piece are undeniable, proving the value of this tactic in establishing thought leadership in the financial industry.

Developing and Maintaining a Professional Image

To portray a professional image, it is essential to conduct yourself in a professional manner. Even if you do not have formal training, you should endeavor to speak and interact with others in a sophisticated way.

For example, if you are receiving callers who are inquiring about investment opportunities or requesting financial advice – conduct yourself in a way that is befitting of a senior professional in your industry. If you are responding to e-mails or letters in a professional manner, those you are communicating with will most certainly notice the difference.

Additionally, ensure you are following the recommended formats for e-mail and letters – this will make you appear more professional, causing you to appear more valuable to your audience.

Above all, being a successful online marketer means knowing when to stop. When you have reached your goals in terms of attracting and engaging a wealthy, professional audience, it may be time to scale back your efforts and reevaluate your strategy. Ultimately, this strategy will evolve as you and your team learn from your efforts and experience. Be mindful of what is working and what is not, establishing new goals and taking corrective action as you go along.