Email marketing can help you stay top of mind with prospects and clients alike. You can initiate conversations, address questions and share valuable information with all those who subscribe to your email list. Utilizing email marketing automation tools can make the tasks of drafting, scheduling and sending messages simpler and less time-consuming.
Ready to grow your client base? SmartAsset AMP helps you connect with leads.
Why Financial Advisors Need Email Marketing
Email represents a vital component of a well-rounded advisor marketing plan. If you’re building sales funnels, email may be the initial point of entry.
For instance, you might offer a lead magnet on your website or via social media that provides value to your target audience. To get the lead magnet, they must first share their email address. Now they’re in your funnel, allowing you to open up the conversation and build a relationship with them.
You can then guide them through a sequence of email marketing messages to move them through the sales pipeline. Sending the right messages with the right timing can lead to an uptick in conversions.
Email marketing can also help you retain the clients that you already have. You can share helpful or valuable content, offer insight or updates on market trends, or just remind clients that you’re available to answer any questions they might have.
Email Marketing Automation Tools for Financial Advisors
There are numerous email marketing tools that you can use to automate campaigns. Some are designed with financial advisors in mind, while others are created for a broader business audience.
We’ve curated a list of some of the most helpful email marketing resources advisors can use to grow their businesses.
1. Drip
Drip is an automated email marketing tool that’s designed for B2C brands. With Drip, advisors can:
- Send branded emails with a 99% delivery rate
- Automate daily marketing tasks and create lifetime automated workflows
- Segment your email list so you’re always sending the right message to the right clients or prospects
Drip integrates with many online marketing tools and customer relationship management (CRM) tools so you can easily share information. You also have access to analysis and tracking tools that allow you to monitor open rates and engagement.
OutboundEngine offers automated email marketing services for advisors who want to stay connected with their current clients and reach out to the next generation of investors.
You can get done-for-you branded email campaigns that are designed to highlight your expertise. OutboundEngine schedules and sends emails for you automatically and alerts you of new opportunities to connect.
You’ll also have access to email templates you can use to send follow-up messages quickly and automatically. There are multiple pricing plans to choose from, based on your firm’s size and growth goals.
3. HubSpot
HubSpot offers free email marketing tools, which might appeal to financial advisors who are looking for a cost-effective way to build their lists. You can design emails with customizable templates and create subject lines and body copy with the help of AI tools.
It’s easy to set up automated workflows to schedule and send emails, including sending follow-up messages. You can optimize your email marketing campaigns with A/B testing and dive into analytics to see which subject lines and messages garner the strongest response.
The AI writing feature allows you to generate emails using prompts, which can help you save time. You can review the final message before sending it to make any adjustments for tone or content.
4. ClickFunnels
ClickFunnels is an automated marketing tool that’s designed to help you move prospective clients through the various stages of your sales funnel.
You may already be driving traffic to your website through social media or organic search. ClickFunnels helps you further build out your sales funnel, from collecting emails to closing the deal.
If you’ve already established an email list with another provider, you can easily import those contacts to your ClickFunnels account. Once imported, you can set up automatic email sequences that are intended to pique interest, answer questions and ultimately convert prospects to clients.
SmartAsset AMP is an advisor marketing platform that’s designed for growth-oriented RIAs and fiduciaries. Advisors are matched with qualified leads and have access to automated email (and text) campaigns that are personalized and fully compliant.
You’ll also get the benefit of automated reporting through an individual dashboard, allowing you to monitor email campaigns and adjust your follow-up strategy accordingly. You can automatically populate client data into your CRM software, so there’s no need to spend additional time on data entry.
Frequently Asked Questions (FAQs)
Does Email Marketing Work for Financial Advisors?
Email marketing can work for financial advisors who understand who their clients or prospects are and what kind of messaging speaks to them the most. Developing an email marketing plan often begins with creating an ideal client persona, if you don’t have one already. Advisors can use A/B testing to try out different email formats or types of content to see what their audience prefers.
How Do You Build an Email List?
Building an email list typically begins with creating a lead magnet. A lead magnet is something that you offer to prospects in exchange for their email address. For example, you might offer a wealth-planning e-book or a retirement planning checklist. Creating high-value lead magnets that speak to the needs of your target niche can help you attract new subscribers and build out your list.
Is Email Marketing Subject to Compliance Rules?
Financial advisors must observe compliance rules concerning email marketing. For instance, they must keep records of the messages they send, and they must allow subscribers to opt out of receiving messages should they choose to do so. The SEC’s marketing rule doesn’t apply to email alone, and it prohibits advisors from including misleading or unbalanced messaging in their marketing materials.
Bottom Line
Using email marketing automation tools can be a game-changer if you’ve struggled to be consistent with marketing or simply want to free up more time in your day. The tools listed here are just some of the possibilities you might consider when automating your email marketing strategy.
Tips for Growing Your Advisory Business
- Investors increasingly turn to online searches to connect with financial advisors. Applying search engine optimization techniques to your website content is one way to drive traffic; leveraging an advisor marketing platform is another. With SmartAsset AMP, you can boost your visibility and connect with new leads. Schedule a demo to learn more about how it works.
- Email marketing can help you convert more prospects to clients, but there are also benefits to direct mail marketing. It may seem old-fashioned to send out snail mail to keep in touch with prospects or clients, but it’s still an effective way to connect. If you’re unsure where to start with direct mail marketing campaigns, you might consider working with a third-party marketing agency.
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