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Are you getting tired of sifting through countless marketing articles trying to get some actual tangible advice to grow your Wealth Management company? Finding out that many of them fall short in terms of specific strategies by merely stating the obvious? Well, this article is different. I will cut through the gibberish and provide actual “hands-on” strategies that can help either a wealth management office or even financial consultants looking to grow their online presence.
Most of the public associates Google with SEO (Search Engine optimization) and even though they are somewhat correct, it’s much more than that. Even though PPC (Pay-Per-Click) has been a staple in digital marketing longer than algorithm-optimized SEO, they are both still a major factor in generating traffic and sales to websites. However, (SEM) Search Engine Marketing has evolved immensely, and industries such as Legal, Banking and Wealth Management communities need to adjust their strategies accordingly.
Honestly, there’s a reason why Google’s offices serve Gelato and Filet Mignon at lunch for their employees. It’s because they can charge outrageous amount of $$ for specific keyword based on their alleged value. Let’s face it, Google Ads is not always cost-effective. For example, anything with the keyword “Wealth Manager, Estate Planning, ” is crazy expensive. The only way that this might be profitable is if you Cost/Conversion or “life-time value” metric that meets your requirements. To help explain, I will provide some “outside the box” strategies that can help ease the $$ pain
Here’s an example of Google Ads Pricing (These are lower than in reality)
When thinking about search marketing, the most important metrics to consider are (1) search volume and (2) estimated value of the content/keywords. However, when doing PPC Marketing keyword research, it’s not so easy. For example: Bidding on general legal keywords (IRA Rollover, Wealth Management) can result in the following dilemmas:
How do we remedy the problem?
Below are a few examples on how to classify keyword research in order to evaluate ROI and overall understanding of searching behaviors.
Yes, in the digital marketing world, the stock portfolio approach is a virtual must. We are “fishing where the fish are” in today’s world that is EVERYWHERE.
Yes, LinkedIn can be used as a marketing tool not just for gloating about a job promotion and posting articles; it is also a powerful B2B and B2C advertising platform. In fact, LinkedIn Ads has impressive targeting abilities that include targeting specific industries and individuals based on job position levels.
In some cases, many Wealth Management offices would rather NOT want to advertise specific employee and just focus on the generalization of their law services. However, in some instances, it can be a marketing “gold-mine” based on news and/or buzz online. If a firm is known for a specific service and is written up in a magazine where the representing attorney has received an award, then having that persons’ name in marketing efforts will most likely provide a higher intent to convert at a lower cost.
This is sort of an “oldie but goodie” strategy. If a Firm is advertising outside of the online world, it is always a good idea to compliment the same branding and messaging online. For example, if a Firm’s slogan/tagline on TV is “ Were the Money Makers”, then there should be the following online:
Once in a while, it is nice to generate website traffic and visibility for basically nothing. In this case, I am talking about Google Places and pushing content/blog posts through social media.
In the SERPs (Search Engine Results Pages), Google Places is a very lucrative position, especially on mobile devices within a specific geographic. In the Legal world, this is golden. It doesn’t cost anything, includes the ability to post photos, receive reviews/feedback, etc..
Pushing content via Social media: Now, it may cost money to hire a writer to develop content, but it does not cost anything to make it viral through social media platforms such as Twitter, Facebook, LinkedIn, and others.
You’re probably wondering where I am going with this. Well, it has been widely known that “Timing” is a crucial part of a successful comedy. Moreover, the same can be said for online marketing. For example, let’s suppose there is a big news story about a lawsuit regarding a case involving Estate Charitable Giving. Well, since “Estate Charitable Giving” is in the public eye, the shelf life will eventually dissipate by the next day or so. To leverage this, a Law Firm that provides Estate Charitable Giving could benefit by pushing their own content, provide opinions in social media, or even create a small PPC Marketing campaign around these terms.
I’m sure everyone has experienced that annoying banner that follows you everywhere you go, but in the same breath, you want to do the same to others than visited your website. Well, there are more refined strategies to retargeting that can help filter out that annoyance. For example, here are some retargeting options:
Analytics is the key to everything. The biggest issue Law Firms face is not only trying to understand what the data means but also to make sure their website is being accurate tracked for every interaction point. For example:
Besides validating that the Analytics tracking code is correctly tracking information, advertisers also need to have a firm understanding of at least the following metrics:
The purpose of this article was to provide actual “tangible” strategies that have been used with legal clients in the past (and present). If you are a wealth management firm of in the financial planning industry and would like to connect with us..
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