As my grandmother would say, it’s a tough row to hoe.
Getting attention in today’s overcrowded marketplace is like standing in the middle of Times Square and singing an 80’s pop-rock song at the top of your lungs. Very few people will care.
In today’s competitive financial industry, standing out and establishing trust with prospective clients is vital for success. While traditional marketing methods like advertisements, direct mail, and live presentations still work, content marketing has emerged as a powerful tool to build credibility, engage your target audience, and ultimately attract and convert leads.
However, from this point onward, I’m going to refer to “content marketing” as “authority marketing.”
Because authority marketing is actually what you want for your practice. Demonstrating and marketing your authority is paramount to getting attention. When you combine your expertise with the tactics of achieving high-visibility often associated with celebrities… you get authority marketing.
In this article, I’m going to explore the importance of authority marketing for financial advisors and identify four different ways to create content and why you want to focus your efforts more on developing an authority marketing strategy to effectively build trust with prospective clients. Here we go…
Establish Expertise through Educational Content
One of the primary goals of content marketing is to position yourself as an industry expert. I’m all about positioning you as an authority. By creating educational content, such as articles, blog posts, and videos—financial advisors can showcase their knowledge, experience, and insights. This type of content not only helps prospective clients gain a better understanding of various financial concepts but also demonstrates the advisor’s expertise in simplifying complex ideas.
As a financial advisor, never overestimate your prospect’s understanding of financial matters. Most are clueless but don’t want to admit it. When you present your expertise in a way that is relatable, non-judgmental, and helpful—it goes a long way toward creating interest and curiosity.
#1: In-depth Guides and Tutorials
Providing comprehensive guides and tutorials on topics like retirement planning, investment strategies, or tax optimization can position financial advisors as trusted sources of information. This type of content helps establish the advisor’s credibility and can be instrumental in attracting clients seeking expert guidance.
I recently worked with a financial advisor on creating a lead magnet for his website, which was a pre-planning retirement guide. He took his vast reservoir of knowledge to develop a few key areas that a person needs to address to start their financial plan. The great thing about this guide is that it will also be re-imagined for several other marketing assets such as a slide presentation. This financial advisor will be able to use the content to speak to a group of qualified prospects and also hand out a physical form of the guide.
Bonus Idea: If you have a PDF that is between 3,000 – 6,000 words, consider getting it printed at a local print shop using a saddle-stitch binding (two staples in the middle of the booklet). Choose a size such as 5.5 x 8.5. People will still treat it as a book and it will establish your expert status.
#2: Thought Leadership Pieces
Sharing well-researched articles or opinion pieces on industry trends, market analysis, or economic insights allows financial advisors to demonstrate their thought leadership. By staying ahead of the curve and offering unique perspectives, advisors can build trust with potential clients who value expertise and forward-thinking guidance.
You can also create a special article for future trends, regarding any legislation that will be enacted which will affect a person’s retirement accounts or taxes. These types of articles do well when published in the fourth quarter of the year or in January. Your prospects and clients want to be ahead of the curve as much as possible. A solid thought leadership piece will position you as the “go to” expert they can trust.
#3 Client Success Stories
Share success stories and testimonials from satisfied clients. It can be a powerful way to build trust. By showcasing how your expertise has positively impacted real people’s lives, you’re demonstrating your ability to deliver tangible results. I cannot overemphasize how powerful this is with clients. You may not be able to get into the weeds with client testimonials, but you can reference a few “before/after” scenarios where a client’s personal information is kept confidential, but the story proves your expertise. This marketing asset is one of my favorites because it quickly instills confidence in prospective clients.
#4 Content Addressing Common Concerns
Many individuals have financial concerns or fears, such as market volatility, retirement planning uncertainties, or managing debt. By creating content that addresses these common concerns and providing practical advice, financial advisors can position themselves as empathetic and reliable sources of guidance.
Content isn’t just written. You can create a quick 5-minute video on what’s happening in the market. Or a short slide deck that gives 3-5 tips on how to manage debt. Consider interviewing an associate. You can make the audio interview available as a recording, upload it to a video platform along with images, or get the interview transcribed and post it on your blog.
Stoke the Fires With Engaging Content
Ever start a fire? Without a match?
You know it doesn’t start immediately. You have to create a spark with flint and steel that is transferred to tinder (dry twigs, grass, leaves). Once the spark is created and the tinder is burning, then you move the fire to a location where kindling can be used.
The kindling, which could be small twigs or cedar bark, will keep the fire active enough to burn larger logs. At that point, it’s a matter of not allowing the fire to go out. You have to keep throwing another log on the fire to keep it burning.
Authority marketing is like that. It’s all about keeping the fire going. You start small but with consistent effort, you build a larger fire that gets attention.
Authority marketing isn’t just about imparting financial knowledge. It also serves as a platform for you to connect with your audience on a personal level. By creating engaging content that resonates with your target market’s needs, concerns, and aspirations, advisors can cultivate meaningful relationships that foster trust. Keep the flames of interest alive by giving your prospects information that matters to them.
Again, you’re demonstrating your expertise and also streamlining your content creation, and re-purposing the content several ways.
Be Consistent and Transparent to Build Trust
Consistency and transparency are crucial aspects of authority marketing that contribute significantly to building trust with prospective clients. By maintaining a consistent content strategy and being transparent about their processes, financial advisors can establish credibility and foster long-term relationships.
Here’s the thing about consistency. It shows:
1) You have the discipline to stay the course, which shows that you don’t take the easy way out
2) You’re committed to proving your expertise
3) It shows tenacity, which reassures your prospect that you treat your clients’ investments with the same level of intention
You demonstrate consistency with content marketing by providing the following.
Regularly Updated Content
Consistently publishing fresh and relevant content not only helps you maintain a top of mind awareness with your audience but also demonstrates your commitment to providing valuable information. It shows you are actively engaged in your clients’ financial well-being and are invested in continuously improving your knowledge and expertise.
Please don’t be like the majority of businesses who updated their blog in 2021 and then stopped. It gives the appearance that you don’t care.
Yes, you probably have been busy, but your prospect is trying to get a feel for how you do business. If you abandon your authority marketing like that, it makes them wonder if you’re going to abandon their account someday, too.
Engagement with the Audience
Authority marketing provides an avenue for you to engage with your audience through comments, social media interactions, or email newsletters. By actively responding to queries, offering personalized advice, and participating in discussions, you can establish yourself as an approachable and trustworthy professional.
This also shows a certain level of generosity. There are some professionals who won’t share anything helpful unless they’re getting paid for it. If you can willingly give your audience information that will genuinely help them, it not only builds trust but creates a desire to do business with you. People have a tendency to gravitate toward those who provide great customer service, which in this case, comes through by replying to questions and comments.
In an era where consumers seek transparency, expertise, and personalized experiences, authority marketing has become a fundamental tool for financial advisors to effectively promote their business and build trust with prospective clients. By leveraging educational content, fostering personal connections, and consistently delivering valuable information, financial advisors can establish their credibility, engage with their target audience, and ultimately grow their business in an increasingly competitive landscape.
If you embrace authority marketing, you’ll be happy with the results. Really, it’s not just an option but an essential strategy for any financial advisor looking to succeed in today’s digital landscape.