To outsource or not to outsource? It’s one of the most important – and potentially valuable – decisions any financial services organisation can make.
This is the choice you have to make between outsourcing marketing activity to a specialised agency and handling your marketing within your own business.
Many financial advisory firms still choose to coordinate their marketing activity in-house. But marketing is changing fast and continues to change. The key challenge is for companies with in-house teams to stay ahead of the marketing curve and access the specialist knowledge and cutting-edge techniques required to stay up to date with existing and prospective client behaviour.
Regardless of your clients’ age demographic, they have changed – and, going forward, will continue to change. In addition, your prospective clients are more information-savvy and selective than ever before.
You should aim to attract rather than interrupt
Inbound marketing, which focuses on attracting rather than interrupting potential clients, is becoming more and more effective. Many financial advisory companies are now abandoning the old models in favour of a marketing strategy that effectively engages the consumer by placing them at the centre of the message.
You can also reduce costs while maximising results
Social media and inbound marketing gives your business a more cost-effective way of marketing your products or services – a major advantage in more economically challenging times.
Financial marketers have more ways than ever before to reach and engage with clients. There are more varied channels and direct routes to potential clients, allowing your business to reduce your offline and online marketing costs and take a more robust and strategic approach to your long-term marketing. Now, more than ever, a ruthless and no-nonsense approach to offline and online marketing strategy is a must for all financial professionals. The focus should be centred around some key principles and a robust long-term outlook. Purely reactive and tactical marketing no longer does the job.
Six marketing strategy resources you can’t afford to ignore
Effectively reaching your target market and reaping the financial rewards depends on harnessing six key areas:
These are traditional but ever-evolving disciplines that still call for the same core skills and business nous to add value to your marketing strategy. They tend to be the custodians of key information.
For your content to command attention and credibility, you need the right kind of writing skill behind your business.
Impact is essential, so a versatile design focus that can create a visual impact in multiple media channels is all-important.
Public Relations acumen put to work in the right way will ensure that your business and brand is talked about by the right people for the right reasons, both online and offline.
Effectively optimising your site and your content requires specialist skill and a strategic approach. Your website visitor numbers and online presence deserve nothing less.
Your website is a central marketing channel, so ensure that you have the right people to give your business a powerful, consistent impact in a crowded marketplace.
Whether you choose outsourced or in-house marketing, your marketing activity is not merely a series of campaigns but a process of developing a market with a repeatable, scalable and measurable process.
To find out more about how Goldmine Media could help your business, or to arrange an initial meeting, contact us today.
Andrew Taylor, Chief Executive Officer, Goldmine Media
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