How financial service specialists can win new business

by Heat Recruitment

By Alex Russon

Winning new clients is never easy. In fact, in most cases it requires a perfectly balanced recipe consisting of:

  • 2 portions of hard work
  • 4 portions of business acumen
  • A handful of creativity
  • A pinch of luck

Even if you’ve got all four, there’s still one secret ingredient that competitive financial service providers require: a heightened degree of trust from their clientele. Planning for the future, organising pensions and handling investments are all incredibly powerful emotional drivers that your clients trust you to handle with consideration and care. Naturally, marketing these services can be a minefield and negative PR can burn bridges and send reputations’ spiralling.

These powerful emotional drivers can however be presented as an opportunity. By showcasing knowledge, strengthening your brand and driving existing relationships, winning new business should be as simple as sorting the financial crisis in 2008.

(Just kidding, please read on.)

Content is still king
Just like pulled pork and salted caramel, content marketing is the new craze. More than ever, people are turning to the internet to find answers to their financial questions, so you should be capitalising on this captive audience.

By establishing your staff as thought leaders and experts in their field, you can gain the aforementioned trust, and with it, new business. Choosing what to write about is also pretty simple. If you have a well-crafted website, driving your content choices is made easy with the help of Google analytics. By analysing where your audience traffic is headed, you can create informative pieces that answer the common questions your prospects are in search of.

Build your brand, live your brand
With so much parity among your competitors, standing out is critical. After all, all financial service providers would claim to be the best – but how can a customer tell the difference? To create space between your firm and the competition, you’ll have to dig deep and find the real purpose that drives your business forward.

By determining the values that your firm holds dear and the reason your customers keep coming back, you’ll find the crux of your brand; the major differentiator that puts a country mile between you and other industry players. From here, you can continue to deliver remarkably authentic and personal experiences on your website as well as your emails, social media and even the delivery of services to customers: that’s how you build an impeccable reputation.

Be a space invader
When it comes to online advertising, it’s better to take a “can’t beat ‘em, join ‘em” approach than crossing your fingers and hoping someone will find you another way. Using Facebook Ads, for example, a financial advisor can target unique individuals with increasingly specific demographics to ensure they are spreading the message to the right people.

This method has also proven to be relatively affordable compared to other firms of digital marketing, so is a great way to target prospective clients on a budget.

Experimentation is essential
The advice given to fledgling students embarking on their university careers also applies within the marketing sphere: experiment as much as possible. After all, there is no one-size-fits-all approach to driving new business. In order to understand what works for your firm and what doesn’t, you’ll have to test, measure and tweak as you go.

While financial service firms have historically had a tough time experimenting because of compliance restrictions, many are beginning to embrace the benefits that marketing methods such as social media and blogging have to offer – but the only way to know is to try. When you know which approach is best, you can start to save money and ensure consistent results.

If you’re looking for your next top-tier employee, or a candidate seeking a change of career, get in touch with our team at Heat Recruitment today.