Email marketing has long been a staple in digital content marketing. It’s a must if you want to foster brand loyalty and expand your reach.
But you may be thinking it doesn’t fit in with your financial advisory business. But, this could not be further from the truth.
The truth is your clients actually love hearing from you.
In an industry that is built on relationships and client communication, it only makes sense to communicate regularly and with valuable insights.
So, how can you pin down the email marketing strategy that works for you and your business goals?
Create a Consistent Tone and Schedule
Consistency is the backbone of any successful marketing strategy, and it’s especially important in email marketing. It is what causes your clients to actually anticipate your emails and keep them coming back from more.
Your email marketing strategy relies on a consistent schedule of delivery.
However, don’t confuse consistency with volume. You don’t necessarily need to send daily email tips. A weekly, fortnightly or monthly email may be better suited.
Of course, you want to have a recognisable brand voice that doesn’t feel jarring. If you can settle on a specific way of communicating with your audience, you build retention and familiarity. Don’t overthink this – just use your normal tone of voice that you would use with your clients. This will make the email as natural, familiar and personable as possible.
Measure and Adjust (Especially The Click-through Rate)
Once your e-newsletters begin to roll out in a consistent pattern, you want to monitor their performance, especially in terms of opens and click-through rates. This will help you pin down what kind of content resonates with your audience and when you get the most engagement.
What’s a good EDM open rate and click-through rate?
Benchmarks for your EDMs can be determined by your industry.
For financial services, here are the average benchmarks according to Campaign Monitor:
- Average Open Rate: 27.1%
- Average Click-through Rates: 2.4%
Don’t be discouraged by low open rates or unsubscribes. Not everybody will want to hear from you and that’s okay.
Define Your Content Objectives
Now that you know what kind of content your audience loves to click on, it’s time to put this into practice. Figure out what type of content you want to offer.
Is the goal to drive specific traffic to your website through coupons and special offers? Or simply communicate office happenings around the month?
Once you pin down the main objective of your content, you can craft effective calls to action for your business goals.
Prepare to Match Big News
Sudden changes and big events should be maximised, even if it doesn’t fit into your existing content plans. When a merger is occurring, or a new staff member comes on board, or even when someone in the team has a baby or a new puppy, take the opportunity to share the news with your clients.
No matter how small your business may be, email blasts are your means of getting the word out. Plus, it can stand out and garner even more attention for your organisation.
Personalise and Segment
Content marketing, at its core, is about your clients.
By segmenting your subscribers into categories based on their location, age, preferences, and service type, you can truly personalise all the emails you send out.
For example, you wouldn’t like to send an email about budgeting to a high-net-worth client. The same goes about sending age pension information out to clients in their 20s.
Segmentation, tagging and personalisation are the key to nailing your email strategy.
Successful email marketing requires commitment and monitoring. Though that may seem complicated, it’s actually one of the simpler avenues of digital marketing. With just a few steps, you can pin down the best strategy for your business and get a return on your investment.
MBS specialises in providing financial services businesses with everything they need for effective digital marketing in Australia. Connect with us for a free trial and get proven marketing solutions for your financial planning business.