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11 Email Marketing Tips to Boost ROI for Financial Advisors

By November 5, 2021No Comments

Use These Email Marketing Tips to Engage with Potential and Current Customers

With many social media marketing platforms now building strong advertising offerings, it may be tempting to abandon email marketing initiatives and turn your budget toward things like Instagram and LinkedIn sales tools. In the world of financial advice, however, email marketing is still an exceptionally effective tool for remaining top-of-mind for clients and prospects. 

Marketing emails still serve as an ever-important touchpoint in the sales process. This is not to say that financial advisors should put the brakes on experimenting with various forms of social media advertising, it just means to keep email marketing as a powerful tool in your marketing strategy.

Today, we’re going to cover some essential email marketing tips to help you boost ROI and generate engagements with leads and current clients.

Here are 11 email marketing tips to help boost ROI for financial advisors:

  1. Create a permission-based contact list

    Email marketing platforms require that you send to contacts who have verifiably permitted you to email them. Be sure to collect consent to email your contacts through online signup forms or checkboxes that allow people to grant you permission to send them messages. 

    Also, abide by anti-spam rules. Always include an unsubscribe link in your email campaigns. If you don’t, you could find your well-written email messages being sent to your desired contacts’ spam folders rather than the top of their inboxes.

  2. Segment your lists.

    As financial advisors, we serve a variety of clients. Their needs may not always be consistent across the board. By segmenting your contact lists, you can create content that matches the context of your audiences’ needs. 

    Do not “spray and pray.” Your audiences are very different and have unique questions that they expect answers to. Treat them as such, and only send them content that directly pertains to their specific situation and relation to you.

  3. Pay attention to your subject lines.

    They really do make a difference in terms of open rates, and they’re your poor email’s only shot at a first impression. Make it count!

    If you want to know whether or not your subject line will make a splash, you can use digital tools like SendCheckIt to test your ideas. Just enter your proposed subject line and it will give you a quality score and some tips to improve! 

  4. Optimize your send times.

    You know your audience best. You know when they’re online and offline. You know when they’re busy or less so. And if you don’t know, do some testing to figure it out. As a starting point, studies show that the best days to send emails are (in this order): Tuesday, Thursday, and Wednesday, and the best times are late morning or after the workday is over.

    Common sense is also a great way to judge send times. People are not checking their emails after work or during the weekends like they do Tuesday through Thursday. 

  5. Utilize an email service provider.

    • Instead of sending emails individually, use an automation platform to help you segment your contacts and send timed messages to each of them simultaneously. Through these tools, you can also create visually appealing message layouts that will be sure to further engage your readers. 

    Check out companies like MailChimp and Constant Contact. They make email marketing easy with a user-friendly “wizard”-type process and a much more professional, HTML look than an Outlook or Gmail mass email.

  6. Appeal to your audiences through your writing.

    Give them the content they want and need. While “fluff” serves a purpose, it won’t give you the ROI for which you’re looking. Include images and colors (just enough to make it not boring… don’t overcrowd), and remember the hit all of our attention spans have taken recently. Short and sweet is the name of the game. If it so much as looks like a lot of text, people will simply move on to their next email.

    For images, remember to keep them to a 600px maximum width. This will ensure that your image always remains compliant with the dimensions of most email providers. Anything beyond that could stretch beyond the frame or become distorted. 

  7. Call people out.

    Having a tough time coming up with ideas for content? People love lists of mistakes. Why? Because they want/need to know how to avoid ending up on this list. For example, “5 Common Mistakes Clients Make When Working with a Financial Advisor.”

    With these types of messages, remember to keep the tone respectful. You do not want people to feel worse about themselves after reading your content. Instead, you want them to feel empowered to reach out to you for help with managing their finances. 

  8. Make sure to have a clear call-to-action.

    Use a single call-to-action in your email that encourages your reader to engage further with you. This button or link should direct them to a place on your website where they can access more information, connect with you personally, or perform another type of lead conversion activity. 

  9. Subscribe to your competitors’ email newsletters.

    Nothing wrong with a little competitor research. This is a great way to not only see what they are doing, but to do it better yourself. To be honest, most of the time this is not hard to do, and it will help you learn about your competitive edges.

  10. Read your send reports.

    If you use an email service provider like MailChimp, you’ll get a lot of pretty reports showing you all sorts of metrics. These can actually tell you any number of useful things. Figure out who is and is not opening your emails and why. Take a look at who is unsubscribing and why. And then put a plan in action to fix it.

  11. Leverage your email marketing content.

    Post your biggest takeaways on your social media profiles, encouraging your followers to subscribe to have more information delivered straight to their inbox. 

    Develop a content calendar to hold yourself accountable. Email marketing requires, relatively speaking, a small amount of effort, but can come up big when it comes to staying relevant and hitting your various audiences with a call-to-action.

Put These Email Marketing Tips Into Action

With these simple email marketing tips, you can craft an effective strategy that you can use to segment your contacts and create engaging content. You have great insights to offer as a financial advisor, and it’s time you start sharing them!