In a recent survey, nearly 80 percent of professionals working in the retirement arena said that marketing is their number-one challenge. At the same time, the baby boomer generation is expected to reach retirement age by 2030 — which means that with a solid grasp of marketing and branding principles, you could drive significantly higher numbers of prospects to your business in the coming years.

Keep reading for some effective financial services marketing and branding tips to help you take advantage of a historic opportunity for growing your insurance, financial services, or retirement planning business.

Define Your Brand

It’s difficult to promote yourself as an agent or advisor without a brand. Branding isn’t just your logo or the colors you use on your website and business card. According to Hubspot, “Branding gives your business an identity. A brand extends beyond a company’s product or service. It gives consumers something to relate to and connect with.”

And an essential part of a brand is defining how it’s different from others. With over a quarter of a million personal finance advisors in the U.S, how do you stand out? This fundamental question will serve as the basis of your marketing strategy and requires careful consideration. Take some time and take a step back to define who you are. Consider your goals and purposes as well as what you’re passionate about.  

Not only does wealth advisor and RIA Victoria Woods service her enormous client base as the CEO of ChappelWood Financial Services, but she’s also an author and radio show co-host who has been featured in multiple media outlets, including NBC’s Today Show. Personal branding has been central to the success of her marketing strategy.

While it might be a big step for those newer to marketing and branding, Victoria has found success with developing multiple brands, each with its own specific message. “My ChapelWood Financial Services brand has a more formal feel to it compared to the speaker Victoria Woods aka the Financial Diva,” she explains. “This makes it possible for me to attract multiple types of clients who would be a good fit for my services.”

Pick the Right Platform

From LinkedIn to Facebook to TikTok, it seems there are more platforms than ever for connecting with your audience. While you may be tempted to maintain a presence on each one, this only results in spreading yourself thin. The trick is to answer two questions:

1. Who is your target audience? 

This will help you determine where they hang out most. According to Sprout Social, here’s the lowdown on the major social platforms:

• Facebook: 

  • Known for: Connecting with friends, family, and coworkers with a variety of content, including pictures, video, memes, and news

  • Largest age group: 24–34 years old

  • 43% female, 57% male

• Instagram:

  • Known for: Visual content such as photos, video content, and memes

  • Largest age group: 25–34 years old with 18–24 close behind

  • 48.4% female, 51.8% male

• TikTok: 

  • Known for: A youthful userbase who shares video content that involves, singing, dancing, lip-syncing, and comedy shorts

  • Largest age group: 10–19 years old

  • 61% female, 39% male 

• Twitter: 

  • Known for: Quick, short, and frequent posts known as Tweets covering anything from news and politics to sports and entertainment 

  • Largest age group: 18–29 years old

  • 38.4% female, 61.6% male 

• LinkedIn: 

  • Known for: Professional networking and B2B marketing opportunities

  • Largest age group: 25–34 years old

  • 48% female, 52% male

• YouTube: 

  • Known for: Educational and entertaining video content

  • Largest age group: 15–35 years old

  • 46% female, 54% male

The best way to find out where your clients hang out online is to survey them, either formally by email or casually when you chat with them over the phone

2. Which promotional platform suits your personality? 

Perhaps you’re already a well-established Facebook Mom or a Twitter news junkie and can answer this question easily. If not, spend some time on the various platforms where your ideal clients live and see which one you’d feel the most comfortable with. For example, Instagram is a highly visual channel — perfect if you like to share pictures. If you feel comfortable on camera and want to create educational videos, a YouTube channel would be right for you.

Be Human

Don’t limit your website, social media profiles, and other media to just your professional credentials and services. People like to do business with people. Share your interests, post pictures of yourself in your off time doing the things you love, and engage authentically with other users whose content you enjoy. Try to avoid content that might be divisive such as politics. Just make sure you only share things that you feel comfortable sharing, or else your content may come across as awkward to your audience.

Be Consistent

Consistency will always outperform occasional brilliance. Aim for at least two posts a week on social media. If you send emails, shoot for a biweekly cadence at minimum. A great way to generate content ideas is to ask your subscribers or followers what they’re most interested in hearing about from you. Additionally, pay attention to your engagement numbers on social media and with email marketing to see which topics generate the most interest and positive response.

Explore Podcasting, Radio, and TV

One of the easiest ways to widen your audience is to take advantage of others’ audiences by making appearances on podcasts, radio programs, and TV shows. Victoria and her partner host a radio show that doubles as a podcast. “Everything you share must be relevant to your specific audience and considered valuable in their eyes,” she advises. “But while you may be there to educate and help others, it’s important to keep things entertaining and fun.”

Financial Services Marketing Is About Helping People

Just as the mission behind your business is to help others, it’s important to approach your financial services marketing and branding activities with the same sense of purpose. By following the tips above, you can help your audience look up to you as an expert without feeling like they're being marketed or sold to, which means they’re more likely to reach out for the help they need. The result will be more prospects contacted and helped — and unprecedented business growth.

Keep Up with the Latest in Financial Services

At Producer Sensei, we’re dedicated to helping producers stay on top of the latest industry insights and trends. Subscribe to our blog to learn more strategies that will help you grow your insurance and advisory business.