Every advisor needs effective marketing to grow their business. But with so many strategies available, it can be tempting for you to try everything with the hope that something will stick. Unfortunately, such a broad approach will often lead to poor performance, and many advisors will waste precious time and capital.

So, where should you invest your time?

In an effort to answer that question, our team at FMG examined the data from Michael Kitces’s 2022 marketing report to identify five key opportunities for you to improve the return on investment in your marketing. We looked at how often these strategies were adopted and how often they worked. Some of the tactics are proven but still underused.

1. Create A Clear Marketing Plan
According to Schwab’s “2022 RIA Benchmarking Study,” firms that have created an ideal client profile, a client value proposition and a marketing plan attracted 42% more new clients and 45% more new client assets in 2021.

Many financial advisors find themselves bogged down by the pressures of marketing through social media, websites, email, etc. The amount of work they have to do can make them feel overwhelmed. The result is that their marketing lacks direction.

With the right marketing plan, however, you can effectively apply strategies, knowing who you’re trying to reach and why. To begin creating your plan, ask yourself the following:

• Who is your audience? Get detailed. What is their occupation, age, location, etc.?
• How do you bring value to your audience? What problems do you solve?
• Where does your audience like to spend their time? What social channels and websites?
• What is your niche? (If you have one)

Answering these questions will allow you to create a more effective marketing plan and inform your future marketing efforts.

2. Search Engine Optimization
The subject of getting more search engine traffic to your website is a popular one, but also intimidating. Many advisors skip out on it. But there are some quick ways to get SEO benefits without becoming an expert. Two of our favorite approaches have been successful for FMG clients, who have seen an average 40% increase in traffic from organic searches.

The first approach is done by using something called “long-tail queries.” These usually involve searches with extended, nuanced phrases, not just short keywords. For example, rather than Googling “Social Security,” a client might search for a longer phrase, such as “When should I take Social Security?”

The websites that win results on these more involved searches usually publish blogs with detailed information targeting long-tail phrases that answer clients’ questions in-depth. To improve your appearance in searches, you’ll want to do the same by creating blogs that answer questions your audience might ask. Be sure to also do the following things to increase your chances of ranking:

• Provide specific keywords related to the query in your title;               
• Break your topic into headers to make the blog skimmable;
• Include images where appropriate to break up text;
• Focus on one topic and go in-depth; and
• Include at least two links to your other content. These backlinks are critical for search engine optimization.

The other approach is called “local SEO.” These search terms usually involve broad queries about local items, such as “financial advisors near me.” Claiming and completing your Google My Business will help improve your results for local searches, and you’ll be in a place to receive reviews, show off your business and demonstrate what makes you the perfect fit for your potential clients’ local financial service needs.

3. Drip Campaigns
Another interesting tool is drip marketing. This involves sending a series of emails with valuable information over time. Most advisors already do this with clients. But the real opportunity for using these emails is with prospects.

When you’re creating drip campaigns, remember that these are not sales queries but information drops, which makes them an excellent way to highlight your expertise. To start drip campaigns, follow these steps:

1. First, collect client information using your site, ebooks, newsletters and other lead-generation tools.
2. Email your clients consistently with valuable, educational and timely content.

It’s as simple as that. Keep things consistent and informative while also personalizing your communication as you progress.

4. Webinars And Virtual Workshops
Webinars and workshops are the most underutilized but effective tools on this list. They give financial advisors a great opportunity to show off their expertise and network. But the most significant benefit of these events is the opportunities that follow.

Webinars also give you a source of video content you can repackage. After you’ve hosted a webinar, you can edit parts of it, cut it up into separate videos and use them for social media posts. Or you can make them part of your blog—and attract search engine results—for a double KO.

You can also up your game with your webinars and workshops by inviting guest speakers or co-hosting events. That will increase the number of attendees, add new perspectives, and make the event more interactive and engaging.

5. Videos
The marketing landscape is constantly changing, and there’s a greater demand for video marketing. Video can be intimidating, but look at these stats:

• YouTube (one of the top video platforms) has more than 2.6 billion active users (according to the firm Global Media Insight).
• Sixty-two percent of internet users in the United States access YouTube daily (again, according to Global Media Insight).
• YouTube is the preferred spot for podcasts, even beating out Spotify (according to marketing research company Voices).

It’s not necessary that you have high production standards. You can use your video to discuss timely topics, financial updates, and anything critical to your clients. Whether you’re using a camera or a phone, if you create something you’re proud of, you can’t fail.

As you continue your marketing journey, remember that the most important thing is to keep yourself at the top of people’s minds. No one tactic will accomplish this. But you’ll get a better return on your investment if you choose a strategy and if you are consistent in using it.

Susan Theder is the chief marketing and experience officer at FMG Suite.