6 of the Best Marketing Ideas for Finance Brokers
As a finance broker, you're a trusted source of knowledge and expertise to which clients come to for expert representation.
Between negotiating on behalf of your client with banks, credit unions and credit providers you are in essence representing their hopes for the future.This no small feat in itself.
It’s crucial that you not only work within that sphere of knowledge and expertise, but you position yourself as doing so. The difference? You may be one of the most knowledgeable and expert brokers out there, but without positioning yourself within that reputation you may be missing a trick. Here, the words positioning and marketing are interchangeable. Finance brokers may feel a little limited as to how they can expand their service - if this is you, then never fear.
Digital Media Stream has compiled a few marketing ideas for finance brokers: ideas that are guaranteed for growth and long-term success. They are both super-specific to finance but relevant to business growth in general too.
#1 Create a solid brand to lead with
One thing that small to medium-sized companies within the finance industry often overlook is how to market, or brand, themselves. This is surprising given that the industry deals with such a thing as money: you want customers to trust you and there is no better way to do that than by developing a solid ethos and communicating it to your clients.
Branding is vital because it instils confidence in your clients, it lends an air of professionalism and it is likely one of the first things people encounter when they seek you out. You can devise a mission statement made up of your core beliefs. Don’t be anonymous!
Also, it's vital that you do some research into who it is exactly that you're marketing to. We wrote a little something in this area so you can take a look.
#2 Use testimonials to your advantage
Did you know that 89% of B2B marketers think testimonials and case studies are the most effective marketing tactics?
This comes as little surprise, when you think about the influence reviews have had on consumer habits. With a testimonial backing your services, you have personal, independent and satisfied referrals that tell others interested in your services that you are a reliable, results-driven finance broker.
Years ago, word-of-mouth spread like wildfire. Now, many of us scroll endlessly through reviews and testimonials, looking to experience that same positive exchange.
Here are a few things you should remember with testimonials.
- Try to put an accompanying image and a full name with the testimonial - this way they’ll be more effective and act as proof to first-time visitors.
- Spread the testimonials across your site, and not just in one place. Your visitors need to be reminded of your expertise!
- Use them in your content - providing quotes from real-life customers will strengthen your output.
- Truths & Statistics - The numbers that verify how much better you are doing at your work really complement the use of testimonials.
#3 Get to Know SEO
Search Engine Optimisation (SEO) is the practice of getting found on internet search engines - Google, Bing and the like. By using tools like Google Analytics you can see what your audience is searching for, optimise your content and get in the ranking race.
It pays to do SEO well, whether you’re a fledgling broker or you’ve been doing it for 20 years. More importantly for smaller firms, you can employ local SEO, whereby you narrow your keyword research down to location. Are there a lot of brokers in your city? Plenty of competition? Well-executed local SEO can put you ahead of the competition.
With 50% of mobile users visiting a store within a day of doing a local search, it’s too good an opportunity to pass up.
#4 Treat Social Media like a Business Tool
You don’t need us to tell you how important social media is. You’ll likely have heard it before.
However, you can do things differently by thinking of social media as a business tool. How can you employ it to better serve your clients? To what extent should you switch up your approach according to the platform?
These questions and more should be addressed. Social media is not just a platform you can use to answer customer enquiries: have a thought-out, considered strategy.
When you’re liaising with both clients and governmental bodies it's vital that your social media content is both accessible enough for clients and appropriate for banks and credit providers.
Here are some things you can think about:
- Maintain consistency with brand message and description of services
- Create links back to your website - where you want visitors to go!
- Sort a regular schedule for sharing, posting and communicating
- Set up phone and email notifications so you can respond quickly
Remember - social media is where many leads are most comfortable. This way, you can approach them on their terms and generate more leads.
#5 Be an Expert in Your Field
Blog, blog and then blog some more. Okay, hyperbole aside - blogging is a great way of opening a dialogue between you and your audience. Raising issues, commenting on changes in the industry and generally throwing your hat into the ring. It all helps to develop your service and brand.
Have a think what your audience wants to know about. What are their daily problems, and what kinds of content can you provide to remedy their problems?
Everybody loves an expert, especially when you’re in charge of handling their financial affairs. Positioning yourself as an expert will instil trust, confidence and reputation. With these ingredients, you can capture more leads and move past your competition.
#6 Send a Monthly Newsletter
Online advertising is no substitute for addressing someone directly or even calling them by name. What a monthly newsletter does is keep clients up to date as to how things are going at your end. Have you got any updates? What will your clients want to hear on a month-by-month basis?
Your clients will appreciate you checking in with them every now and then. It reinforces the relationship and instils trust in your services.
The human element, too! This is a big one. Being addressed by name has been proven to engender positive interactions and strengthens the relationship. In the finance sector, this is vital since so many banks can feel anonymous. Be personable and speak to your audience!
Here’s a little proof: a recent report conducted by Accenture has shown that 75% of consumers are more likely to purchase from a retailer that recognises them by name, recommends options based on recent purchases or has access to their purchase history.
Furthermore, Experian recently published a report that led with the following statistic: emails sent with personalised subject lines, including either first name, surname, or another unique identifier such as account number, were 7% more likely to be opened than emails sent with blanket subject lines.
As we said earlier, statistics are key! And so is personalisation: your clients will appreciate being addressed, and a positive relationship can start from there.
Of course, you can’t be expected to write each out by hand. That’s what email automation is for!
All six ideas build and reinforce the relationship between you, the broker and your clients. In finance, and especially as a broker, you need to position yourself as approachable, authoritative, trustworthy and expert - all these, at once.
It’s doable, more than doable. And, once it’s done? You will elevate yourself above the rest and become a finance broker kingpin.