In my last blog, I gave you the 7 Deadly Marketing Sins for Financial Advisors. And if you recall, one of the deadly sins was to NEVER send an email without a link back to your site (or blog, video, some call to action, etc).
Well today, I am going to get laser focused on email marketing, and give you 5 email marketing tips for financial advisors (created just for advisors like you).
I hope you enjoy. But more importantly, I hope you will start implementing some of these ideas immediately. Those who do will certainly see some positive changes.
The 5 Email Marketing Tips for Financial Advisors
To begin, were you aware that 66% of ALL CONSUMERS age 15 and over (and yes, that means your clients as well) have made a purchase because of an email?
That’s right, a whopping 66%!
And according to Quicksprout (we will also be sharing an incredible infographic from Quicksprout below on email marketing), 91% of consumers check their email AT LEAST once per day. Sadly, most of us are checking it at least every hour. And for those of you who can’t resist checking your phone every time you hear a “bing”, please get some help now before you turn into a programmed zombie…
If you still need more convincing that email marketing works, here are the 5 tips as promised:
1. Spend as much time on your headline as you do the body of the email
It has been said that 80% of consumers will read the headline, but only 20% of them will go forward and read the rest of the email body or article. Knowing that, you better have one heck of a headline on your emails!
Because unfortunately, even if you have the best email body, or the best message in the world to share, if the headline doesn’t get your prospect’s attention, then it will all be a lost cause.
Here are 3 great email headline templates that have worked well for me over and over again (feel free to put in your own words in the blanks and use them yourself).
- How to ______ without _______ (example: How to get stock market returns without risking any money)
- What everybody ought to know about _______ (example: What everybody ought to know about universal life insurance)
- __ Ways to Maximize ________ (example: 7 Ways To Maximize Your Social Security Income)
2. Have a short email body, use pictures, and send them to your “home field”
What do people hate more than having tons of emails clogging up their inbox? Tons of emails with LONG copy.
Knowing that, why do so many of you continue to send emails that look like e-books? No one wants to read through it, and rarely will someone take the time to do it. What I have found is the longer the email body, the more likely it ends up in the trash box.
The trick is do to the following with your emails:
- Make your emails short and sweet
- Preferably no more than 3 short paragraphs
- Keep the paragraphs short as well, and include lots of “white space” in between paragraphs and lines
- Get to the POINT QUICK!
- In fact, the first line of the email should tell them the “Big Promise” or “Benefit” you can deliver them if they keep reading
- Then, once they decide it is worth their time, they read on…
- And then, after reading your power-packed, NO FLUFF, short email, they decide they want to learn ever more…and they click the link in your email that goes…
TO YOUR WEBSITE!!!
Do not make the mistake of having your entire message inside of your email. Get them to your “home field” where you have more information, hopefully more resources for them to learn about you, and hopefully other places where they can opt-in (aka give you their information) in return for you giving them something of value.
Keeping them inside of their inbox is like volunteering to play the Pittsburg Steelers at home. Don’t do it! Get them on your turf by bringing them to your site, or your content, or your video.
Pictures in your email
Finally, adding in pictures when necessary has been big for me in regards to email marketing. In fact, I have found that when I include a screenshot of a video that is associated with the email call to action, that my conversions go up quite a bit. And you can even link the screenshot up where it will be a live link to your blog, site, etc.
Not to mention, a picture can say 1,000 words, and can definitely grab someone’s attention.
3. Your email MUST be mobile friendly
Here are some mind-blowing stats from the infographic below that will make it incredibly clear why you need to have all of your emails mobile friendly:
- Over 70% of mobile purchasing decisions are influenced by promotional email
- 64% of decision-makers read their email via their mobile device (and I am betting most of you do as well)
- 48% of all emails are opened on a mobile device
- 69% of mobile users DELETE any email that is not optimized for mobile
So how can you fix this?
By making sure you have an email provider that is “mobile friendly”. The tried and true trick is to ALWAYS send out a test email to yourself (and check it on your mobile device) to make sure it looks great. Don’t ever just trust that it will automatically be optimized for mobile, as there are still many email services that aren’t 100% up to speed here.
4. The Call to Action must be Precise and Singular
Let me ask you a question.
What do you do when you are asked 3 questions all at once and told to make a decision/answer on the spot for all 3 questions?
Or what if an instructor, boss, or business partner asked you to do 3 different things all at the same time, and needed them all done now?
Most of us get overwhelmed, and either have to take a deep breath and figure out what to attack first…or perhaps just shut down altogether.
And when someone asks you to do more than one thing in an email, or if they discuss more than 1 topic in an email, studies have shown that the same feeling of being “overwhelmed” and “confused” quickly sets in. And when that happens with an email, the easiest option is DELETE.
Don’t confuse or overwhelm your prospects or clients with too many things in an email. Simple and Singular is the way to go.
Moral of the story with Calls to Action:
- Only have one call to action.
- Never have more than one call to action
- Make the call to action precise
- Make the call to action clear
- Spell out the benefits of them taking the action.
5. Use an E-mail Service that provides Tracking and Analytics
One of the main rules we have here at Advisor Internet Marketing is that “If You Can’t Track It, Then Don’t Do It“.
It has served us well, and I encourage you as a financial advisor to employ the same thinking when it comes to any of your marketing endeavors.
And when it comes to email marketing, you will have your fair share of trial & error. And the only way you will know what is working with your list and your Tribe of email subscribers is to test it out, and track it.
The great news is that most of the big email marketing services have analytics and tracking built in for you. Moreover, it is usually pretty simple to access and understand.
Here are a few of our favorite email auto-responders:
- Constant Contact – Great bargain, this is who we first started with back in the day. The reason we left is that we needed a more robust CRM.
- Aweber – This is the email system/autoresponder that we recommend to most of the advisors that contact us. Easy to use, prices are fair, and their customer service is helpful.
- Infusionsoft – This is who we use now, however, this is probably not a fit for the average financial advisor. We use it because we need shopping carts, credit card syncing up, and a really robust system with all of the wild funnels that we are building behind the scenes.
- WealthBox – This CRM is built exclusively for financial advisors. We haven’t used their email aut0responder feature, but we can only assume that it rocks like the rest of their platform does. Check out our review on Wealthbox here (along with a big discount for our readers).
Bonus Video – “7 Sneaky Email Marketing Secrets That Only The Pros Know”
This is some of my very best email marketing training all in one video (including some awesome email headline tips)
Click the “Free Training Video” button below to receive instant access to the 7 Sneaky Email Marketing Video Now!
I hope you received some great ideas from these 5 email marketing tips for financial advisors blog.
Email marketing isn’t just something that you should consider doing, it is a MUST have part of any financial advisor’s marketing arsenal if you are serious about making it in the future.
With 66% of ALL CONSUMERS buying something because of an email (and yes, this does include baby boomers and wealthy seniors), you would be crazy to not be taking advantage of email marketing in your practice. Especially since the email service providers have made it so easy, and inexpensive for us.
Finally, check out the incredible infographic that our friends over at Quicksprout put together on email marketing.
P.S. – If you enjoyed this blog (or received any good information, then please SHARE it using the social share buttons on the left). And if you have any questions or thoughts, don’t hesitate to comment below. I personally read and respond to every comment.