I’ve been in the wealth management business for almost twenty years. I’m not the most active marketer. At my core I’m probably a little introverted. I definitely don’t like cold calling and will do about anything in my power to avoid it.
Does any of this sound like you? If so, you should care about inbound marketing.
First, what is inbound?
Inbound marketing is where a client or potential client gets to create a relationship with you on line. It might be through your website. Maybe they decided to follow you on a social network. If you blog, they make read what you’re saying and want to learn more. If you send out a quarterly report, why not make it into a monthly newsletter.
All of these are ways people who could be your clients are going to find you. If you go to the next step and provide remarkable material on your website, potential clients will give you their names and email addresses to get that information. You then can start a relationship with them by providing more information about what makes you and your firm unique. Isn’t this the way you would like to start an online relationship with someone you were going to buy services from?
Where your clients and potential clients are going.
Let’s face it your clients are on line. They participate in Facebook, LinkedIn, Twitter, Instigram and zillions of other on line communities. I bet they even occasionally read a blog entry. If they find a blogger that talks to them, they’ll find a way to come back and visit them more often.
According to my friends at Hubspot, your customers are making 57% of their buying decision before they ever have their first meeting with you. That 57% is being made by what your online presence is and how it speaks to them. If you’re interested in younger clients, that number might even be higher. Just ask yourself this questions, “How do I decide to do business with someone?” I bet that some of that answer has to do with finding potential suppliers online.
You get to develop a community.
This is the thing I really like about inbound. It’s about creating a community. It’s about putting together a group of people who enjoy and support what you do. We know that RIA’s in the wealth management business who are the most successful have rabid and supportive communities.
I know I truly enjoy the community that has started associating with me. If you like what you read, I hope you become part of my community. You can do so by signing up for regular delivery of our blog posts.
You need to be concerned about compliance.
Inbound is not an excuse for you to go out and say whatever you want. You know you can’t get testimonials, you know you can’t make unsupported promises……In fact, you can’t make promises at all.
If you have a compliance officer just have them look over whatever it is you put up that could attract clients. You’ll find there are an awful lot of things that you can still do.
It’s about helping you create a trusting relationship.
I know this is nothing new to you. You’re in a business that’s all about trust. If you decide to investigate inbound you can demonstrate to those who are important to you that you’re competent, reliable and care about the interests of your clients. This helps people have a good feeling about you before they’ve had their first conversation.