New World of Online MarketingAdapting Micro-targeted Strategies to Create a Winning Message with your Ideal Prospects
Tuesday, May 29, 2018
Marketing Challenges
• Finding time to market
• Reaching qualified prospects
• Communicating value
• Implementing a consistent strategy
• Understanding what “works”
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What Is Working?
Perceived Effectiveness of Financial Advisor Marketing Activities
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0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Radio/television advertisingPrint advertising
Email campaignsSearch engine keyword optimization
Social media networks (actively posting content and interacting)Blog
Direct mail campaignNewspaper/magazine columnist
Sponsoring community eventsOnline advertising
General public relationsActively capturing leads on firm's website
Volunteering on non-profit boardsHosting networking events
Radio/television shows (either as a host or a guest)Community involvement Successful
Unsuccessful
© Michael Kitces, www.kitces.com.Source: InvestmentNews, 2016 Financial Performance Study of Advisory Firms.
Channels Where We See Success
• Client referrals
• COI referrals
• Thought Leadership
• Community Involvement
• Online
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Online
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SEO—Website,
Blogs, Videos, etc.
PPC—Google Ads
“Find an Advisor” Sites
Paid Social Media
Organic Social Media
Retargeting/Remarketing
Ads
What Is Microtargeting?
Microtargeting is a marketing strategy that uses consumer data and demographics to identify the interests of specific individuals or very small groups of like-minded individuals and influence their thoughts or actions.
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Source: searchcio.techtarget.com/definition/microtargeting
Why Use a Microtargeting Campaign?
• Diversifies marketing channels• Works without advisor’s time• Helps communicate value• Can run 24/7 for consistent
implementation• Is easily trackable and measurable• Provides a model that can be
replicated for infinite number of micro-niche markets
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How to Create a Microtargeted Campaign
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Microtargeted Campaign Overview
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Identify general target market
Survey target market
Define specific audience to microtarget
Build resources addressing greatest financial challenges
Promote resource to target audience
Capture contact information
Stay top of mind
Convert to an appointment
Phase 1: Research
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Step 1: Define Target Market
Define your ideal prospect in broad terms:
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ExampleAge 50–65 Employment Full time, part time,
retiredGender Male and female Career AnyIncome $100K+ Relationship Married, widowedEducation Any Parental status 1+ children
Ethnicity Any Location Any
Step 2: Construct Your Survey Questions
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• Start with an open-ended question about your target market’s greatest financial concern.
• Provide opportunity to understand secondary concerns.
• Ask other relevant questions that will help you understand your prospect.
ExampleWhat is your single greatest financial concern?
Open ended
Rank your financial concerns in order of importance.
Rank
When do you plan on retiring?
Multiple choice
Do you currently work with a financial advisor?
Yes/No
Step 3: Survey Your Target Market
Go to AYTM.com to survey 50 or more people. Do not survey your clients.
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The Results
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0%
10%
20%
30%
40%
I'm already fully retired
I'm already partially retired
In the next 5 years
In the next 5 to 10 years
More than 10 years from now
I don't plan to retire
Phase 2: Target
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Step 1: Create Client Personas
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• Analyze the survey data to find trends.• Determine who you are going to target.• Create fictionalized prospects to
force yourself to narrow your focus. Include:─ Current situation─ Demographic information─ Primary financial concerns
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Step 2: Identify the Issue
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• Using the results from your survey, identify the one issue that will resonate with your persona that you are going to address.
• Use this theme to craft a message across all of your campaign materials.
ExamplesHaving enough money to survive retirementHow to quit a highly compensated, yet highly stressful job to pursue other passions
Step 3: Address How to Solve Their Greatest Financial Concerns
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Develop content that addresses the persona’s greatest financial concerns:
• Articles/blogs
• Ebook/white paper
• Technology tool
• Online course
• Infographic
• Quiz
• Checklist
• Guidebook
• Webinar
Phase 3: Contact
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22Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic
23Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic
24Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic
25Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic
26Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic
27Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic
28Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic
29Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic
30Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic
31Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic
32Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic
33Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic
34Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic
35Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic
36Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic
37Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic
Step 1: Reach Your Target Market
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Step 2: Narrow the Field
Promote video, blog, and infographic content to your Facebook audience to gauge interest
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Step 3: Remarket
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Move anyone who engages with your content through the funnel by remarketing to them with a “premium resource” offer.
Step 4: Build Your Database by Collecting Contact Info
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Step 5: Drip on Your Leads
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Emails
Newsletters Event Invitations
Webinar Invitations
More In-Depth Resources
Retargeting Ads Custom Audience Ads
Step 6: Calibrate Your Campaign
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• Test various messages, audiences, promotional channels, offers, etc.
• Analyze reach, open rates, click-through rates, landing page visits, video views, conversion rates, appointment requests, etc.
• Make adjustments until you find the right combination.
Step 7: Make the Ask
• Second opinion
• 1 hour of financial advice
• Portfolio review
• Social security analysis
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Phase 4: Win! (Schedule an Appointment)
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Things to Consider Before Implementing
• Changes in the Facebook user experience will limit businesses’ organic reach, forcing more businesses to paid advertisements, which could drive up ad prices.
• Increased concerns about online privacy are creating lower user trust in Facebook.
• Cambridge Analytica scandal and the General Data Protection Regulation (GDPR) just implemented in the EU will likely lead to new regulations in the U.S., which may make Facebook marketing less effective.
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Questions?
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Resources
• Survey software: AYTM.com
• Landing page software: Unbounce.com
• Email marketing/simple marketing automation: MailChimp.com
• Import leads to Redtail: Zapier.com
• Retargeting Ads: AdRoll.com
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