Marketing Tips for Financial Businesses

Wealth management firms, financial planners, and other financial institutions are often highly regulated, but don’t let that stop you from marketing your business.

The Lucie team believes marketing is especially important for financial companies because they are built on relationships. We know you can’t give away client information, free advice, or make certain promises. But we also know that you can market your biggest asset, which is you.

In order for clients to allow you to manage their money, you have to build trust. You have the opportunity to build trust from the very first interaction with a potential client - which often happens on your website or social media channels.

Whether it’s a video, social media post, or informative article, your content could be one of the primary reasons clients choose and trust you.

Here are three reasons you should consider marketing your financial company.

  1. Marketing humanizes your brand. While you can’t give out free financial advice or information, your marketing can and should focus more on your business. Instead of talking about your services, highlight your people. Clients and potential clients want to know the backgrounds of their advisors, like where they grew up, where they went to school, and what their family is like. While financial services can be tricky and sometimes intimidating, your team is made up of humans who others can relate to. The Lucie team humanizes your business through the power of storytelling. Read more: What does it mean to humanize your brand?

  2. Marketing builds trust. In an industry where trust is the foundation of success, you want to start building trust as quickly as possible. Research indicates Millennials and Gen Zers are less trusting than other generations. You can build trust from the very first interaction with your company, whether it’s a video or an article.

  3. Marketing creates connections. Your team is what leads people to your services. The more potential clients can create a connection with you, the more likely they are to give you their business. Connections make you more appealing. Create connections by celebrating team milestones and life changes with your clients. Include team members as often as possible. Holidays, celebrations, and events can all feature your team. To create engagement, ask clients to share in these moments as well.

Marketing Ideas for Financial Businesses

Now that you understand the importance of marketing your financial business, let’s focus on the tools to help you accomplish your marketing goals.

  1. Videos - Video creates emotional connections and tells great stories. Use video to build relationships from a client’s very first interaction. For one of our clients, Regent Peak, we created a series of videos highlighting team members. This allows clients to connect with the team before they even meet them in person.

  2. Video podcasts - Video podcasts are an informative, entertaining way to release information on industry trends or company updates. Video podcasts can be used internally for employees only (great employee morale is great for marketing and also for business growth), used to update clients on what’s happening in the industry and business, or released to the public.

  3. Social media - Social media is a great channel to reach new clients. While there are restrictions and rules outlined in FINRA and set by the SEC, there are plenty of ways to present your team without giving financial advice. Social media platforms are the perfect place to celebrate holidays and milestones.

  4. Newsletters - Clients want to know how different industry changes impact them. Newsletters sent weekly or monthly are a great way to keep clients and potential clients informed and connected. Make sure the newsletters include relevant content about your company. Communicate any changes, such as if you are shifting towards more in-person appointments or changing offices.

  5. Website - A confusing website does not lead to conversions. Your website should be easy to use and a reflection of your business. Make sure your pages are easy to navigate and potential clients have a clear way to contact you. Check out more helpful website tips in our article Here’s What You Really Need on Your Website.

With a background in journalism, the Lucie team understands the importance of ethics, compliance, and proper reporting. We know how your financial business is represented is of utmost importance, and we want to position you for growth. If you’re ready to #createyournews, contact us today.