The power of the internet means it’s now possible for financial services providers to build a broader and more profitable online audience by carefully applying some specific approaches and techniques. All it takes is confidence and an internet connection.

According to new research, 78% of internet users conduct product research online (Source: Hubspot). This has changed the game for the marketing companies relying on outbound marketing approaches, such as email newsletter campaigns, TV advertising and telemarketing. But these (often costly) approaches are becoming less effective day by day.

This is because:

• More people are online than ever before.
• More people regularly use the internet to shop and investigate products and services before they decide to buy.
• Most of us have adapted quickly to being online so that internet use has become more sophisticated.
• People are more likely to avoid unwanted online ads by using techniques and technology such as popup blockers, email spam filters, and call rejection.

How to get discovered # 1: Make the Link

Better links equal better business

Links play a big part in achieving a great search engine ranking. You need to use two types of links:

·    On page: content on your site that links to other ‘relevant’ areas of the site.
·    Off page: content on other sites that links to your website.

Both type of links are useful in enhancing your online presence. Ideally you should use as many as possible. While it is relatively easy to place links, you need to avoid over-using links that aren’t working very effectively. Use services like Link Diagnosis to monitor your ‘off page’ links and SEO Rank Checker to check your website rankings to see how well each link is working for you and adapt your link strategy accordingly.

Think of each link as a reference for your website

Each link is like a reference for your website because people relate to a link according to whether it leads to a site they know and trust. This means that the links you use show how valid your site is – so the better the reference, the more trusted it will be.

The key is to make sure that your links are from relevant websites. One very useful thing to keep in mind is Wikipedia and the way it allows you to begin on one topic and click through to move from one related topic to the next, taking you somewhere very different. Keep this approach in mind and apply it to as many relevant websites as possible.

How to get discovered # 2: Spread the Word

Getting your website set up is just the start
Your website is now set up to showcase your business and sell the value of your service or product. You have high quality, relevant links. Your site shows up high in the search engine rankings. The next step is to spread the word.

Blog your way to more business

The best place to start is with your blog.

What is a blog?

•  You could define a blog as an online diary which allows you to reach many people.
• Your blog enables you to share any message or information you want – from thoughts and ideas, to lists of other useful sites and everything in between.
• Blogs provide a very fast and very convenient way to diversify your site and enhance search engine optimisation. Each post, with individual tags, links, and URL, will actively boost your online presence, with the added advantage of giving new web visitors exactly what they want when they arrive on your site.
• Most blog services also have their own ‘hub’, i.e all their blogs are catalogued under one site, with links to and from thousands of blogs on a similar subject. Being linked to the other blogs builds the presence of your own blog and its potential audience.

Before you start blogging there are some key points to keep in mind:

Four things every new blogger should know

1.    The decision you make about what to put in your blog is fundamental to the success of your digital marketing strategy. Focus on the particular area you want to get known for – then blog anything and everything you can on it.  As long as it’s relevant to you and your business, every post is a brand new advert and your readership will grow with everyone.
2.    Don’t approach your blog like an advert, but as a way to showcase yourself as a helpful source of useful, relevant information.
3.    Add a list of useful links occasionally to build good mutual links with those people you list.
4.    Post a set of ‘top tips’ once in a while – very useful and very easy to spread via word of mouth. On average, companies that blog enjoy 55% more web traffic than those that don’t!

How to get discovered # 3: Be Sociable

Don’t just inform – interact

Getting discovered on the internet is all about information and interaction. You’ve created a source of useful, relevant, well indexed information on your blog. But how do you get people responding to it?

By being sociable – using the different forms of social media like Facebook, Twitter and LinkedIn. Useful content on the web is very easy to find – and once found, it will get traced back to you. 

Conversation, conversation, conversation

Social media sites like Facebook, LinkedIn and Twitter combine content and conversation. They bring your post together with a potential audience of thousands of people – if not more!
This interaction starts with you. Respond to comments. Answer questions. Offer ideas and tips. This shows you as a friendly business, rather than one simply trying to sell. Once someone does need your service, they’ll already be aware of you as a business they can trust. This is how being sociable can help create an audience which then creates leads and customers.

How to get discovered # 4: Keep Tracking and Adapting  

See what’s working – and what’s not
Getting recognised online involves many potential different resources and platforms. So how do you see where new leads are actually coming from and which areas need improving?

Here are a few helpful ways to track and adapt your digital marketing strategy:

• Most services offer their own tracking software for monitoring and managing leads while most blog hosts will have figures for visits, clicks, and popular landing pages.
• Google Analytics provides a valuable breakdown of web visitors and on site behaviour.

It’s understandable that financial practices are hesitant to make changes to their look and feel. But subscribing to the ‘it ain’t broke don’t fix it’ school of thought will often leave you behind the times along with the dinosaurs, especially if you are an IFA entering the RDR next year.

Why should I rebrand?

Well, businesses are living breathing entities that change shape and shift according to the industry and external factors. What worked when you launched 5 years ago might no longer be relevant to your new and existing clients. Clients also increasingly expect more from brands. They expect you to have a personality and to be available 24/7. Fail to tell your story behind your brand and you are less likely to connect with them.

Inspirational Vision

A successful rebrand campaign requires more than a renewed logo. Instead it requires an inspirational vision that portrays a new image your clients can relate to. Not only should the rebranding process be a great opportunity for employee engagement but also a useful tool to revisit your client service proposition, what you stand for and more importantly what you don’t.

Rebrands can yield huge rewards. Take iconic British brand Burberry for example and backtrack 5 years. Remember the headlines about the down market celebs wearing the brand and the association with football thugs? Now fast forward to the present and Burberry has had its fortunes revived through creative director Christopher Bailey and is now championed by A listers including Kate Moss and actress Emma Watson.

So if you feel that your brand is looking tired, why not test the waters first with your clients opinions? Get it right and it you will wish you had done it sooner.

Is it time for rebranding?

Getting savvy with advertising

Set out your promotional objectives and decide whether to advertise
Determine your promotional budget
Decide where and when to advertise
Measure the effectiveness of your advertising campaign

Clarify what you are trying to achieve

Before deciding whether to use advertising, clarify what you are trying to achieve. You may need to create awareness of something, or change your client’s attitudes. You may need to convey a specific one-off message to your market. For example, informing people about a post Budget announcements that could impact on their financial situation.

You may need to prompt a specific action, such as the client visiting your premises. If you are building up a database of leads, your objective might be to gather the contact details of potential clients. Or your objective may be to create sales there and then.

You may need to address your existing client’s, rather than win new ones. Keeping up front of mind awareness encourages clients to consider you first when they next think about their personal finances.

So be specific about who you are trying to communicate with.

Who are you trying to reach?

What common characteristics define your target market? For example, consumers in the same geographical area or individuals from the same socio-economic background
Decide if you want to reach end-users or intermediaries
Be clear who makes the buying decision

Which media will best reach your target market?

Advertising is only cost-effective if it reaches a readership which significantly overlaps with your target audience.

Could advertising carry the right message?

In general, advertisements work best when they carry a concise message

The form of the advertisement may physically limit what you can say

Your advertisement, and the media in which you advertise, must suit your image.

Cost-effective alternatives

For example:

• Direct mail with a mailing list that more closely matches your target market
• Personal selling to build relationships with high-value clients Merchandising, packaging and point-of-sale materials for client purchases
• PR for building your reputation over the longer term
• Trade exhibitions and conferences
• An e-newsletter that drives traffic to your website

Money matters

Deciding how much you should spend is not an exact science.

How much do you normally spend? How much did you spend last year, and how effective was it, in relation to your business objectives?

What are your competitors doing?

• If your competitors are advertising heavily, you may need to match their activities
• If a new competing product has been launched, you may need to fight off the competitive threat

How far are you from achieving your objectives?

• If you are launching a new service proposition into a new market, you may need to spend heavily to achieve client awareness
• If your proposition is already well established, you may only need a few advertisements to keep up front of mind awareness

What is your advertising worth to you?
What margins do you make and how much repeat business can you expect?
What is the lifetime value of a new client?
Are you considering a brand-building investment? Are you planning a short-term sales drive or longer-term awareness?
How effective do you expect your advertising to be?
Check that your budget is realistic. How many extra sales do you need to generate to justify your spend?

What media can you afford to consider? The cost of the media does not always equate to its potential power. A simple entry in an online directory can generate a lot of enquiries, for example.

Segmentation of the market

Identify your segment of the market and decide which media best reach your target audience. The choice of media is vast.
Financial adviser firms are likely to need to advertise in more than one type of media to be effective.
Observe where your competitors advertise and consider using more than one type of media and marketing method
Search online to see how easy it is for your clients and prospective clients to find your website as the internet is generally the first place they will go
Ask a selection of people from your target market what they read, watch, listen to and which websites they visit.
Consider the use of a specialist media buying agency to help you
Choose the media that match your needs.

Ask yourself some key questions:
How many members of your target group read a particular publication or visit a certain website and how often?
Does the publication or site have the right image for your advertisement?
How much will your ad cost to produce?
How much will the advert cost to run?

Financial marketers must not unleash the cookie monster

UK cookie law comes into force, is your website legal?

Financial marketers and financial firms in the UK that use cookies on websites as part of there online activities now have to change the way they track users, with sites having to receive ‘implied consent’ from visitors that they don’t mind the site keeping tabs on their online movements.

The law has been mooted for some time and originally required ‘explicit consent’ from site visitors before certain pop-ups and the like are revealed.

Last minute change to the legislation

But there was a last minute change to the legislation, which means sites have to obtain just ‘implied consent’ – this is friendlier for businesses but knocks the UK out of quilter from the rest of the EU when it comes to the transparency of cookies.

Although it is thought many UK-based sites will not be ready for the law, the Information Commissioners Office (ICO) is looking to report back on sites that are not obeying the directive and there’s the slight possibility of a £500,000 fine for those who flout the law.