Overlooked Financial Advisor Publicity Opportunity
If you’re searching for financial advisor publicity ideas, consider this twist using a traditional marketing channel…
There’s an advertising vehicle within most wealthy communities that can indirectly generate publicity for your advisory firm.
It’s your local community newspaper, typically published weekly or monthly.
I’ll explain the twist as well as offer a way to keep costs down.
Find Wealthy Clients Through Community Newspapers
First, by advertising in your local community newspaper, you’re supporting your community, which many prospective investors find appealing. Plus, almost every wealthy individual age 50 and older reads it. Maybe not the day it arrives, but sometime shortly thereafter.
If your budget is tight, advertising once a month is fine. As long as you’re advertising repeatedly, investors will contact you. However, you must advertise for months at a time. I found my estate planning attorney this way. He lives in town and advertises once a month in my weekly newspaper. I’d seen his ads for at least two years before contacting him. In fact, I cut it out and put it aside for future use. While working with him, he told me that his ad easily paid for itself.
Don’t Pay Full Advertising Rates
You don’t have to go it alone.
Instead, approach complementary influencers and share the ad space and expense. For example, you could align with a local college admissions expert, estate planning attorney, etc. The key is that the two businesses complement each other.
Generating Indirect Advisor Publicity from Print Advertising
Here’s the twist…
Perhaps, every other month, you use your advertising space to promote a worthy cause in town.
For example, a local father died and your firm is managing a fundraiser to help his child attend college. In addition to mentioning the fundraiser in your print ads, approach the editor to see if they’ll do a story regarding the fundraiser, increasing your community exposure at no cost. For community papers, it’s likely you could secure a front page feature.
Of course, it doesn’t have to be a fundraiser. For other public relations ideas, see my post describing how to increase community awareness about your firm by optimizing your office location. Use some of these strategies to promote in your print ad. Investors will notice.
Also, there’s no need to use your entire print ad space to talk about the fundraiser or other. However, by repeatedly including a line of copy about the fundraiser in your ad, you’ll grow your firm’s community goodwill, ultimately drawing new clients who seek to align with community-oriented advisors.
Generating Website Leads Using Print Ad Space
Another productive way to use your advertising space is to publish your monthly blog post copy, and then encourage readers to finish reading it at your website. Once at your site, present a clear call-to-action inviting readers to sign up for your monthly blog or another content asset. For small print space, use a teaser promoting your new post, again driving readers to your website for the full content.
For an extensive list of blog content ideas, check out my 12-Month Financial Services Content Marketing Calendar special report. Upon reading the report, you’ll never need to brainstorm for another blog idea again.
Tips for Buying Print Advertising
It takes several advertising “impressions” before a reader can recall your financial services firm. In addition, research has shown you must touch a prospect at least 10 times before they’ll take action, e.g., emailing you.
Before buying any advertising, always confirm that the readership is your ideal target audience, and always ask the sales representative for a better rate than what the rate card displays. If they say, “The rate card prices are firm, we don’t negotiate,” then tell the rep. you’re interested, but you’re not happy with the rate and will think about it.
It’s my belief that rate cards are there for benchmarking purposes only. Therefore, here’s how to move forward in order to get a better deal:
You’ve shown solid interest in the product. Make the sales rep. come back to you. When they do, and they will, tell the rep., “Yes, I’d like to advertise with you, but I need you to come down in pricing.”
If the rep. still won’t/can’t come down, then try the following, “If you can’t come down, then I’d like you to include some value-adds.”
For example, ask for free digital ads within their daily emailed newsletter, banner ads or free use of their postal-mail-readership database so you can send a postcard to their readers.
Related: Postcard Marketing Strategies
Publicity Reach Via Multi-Owned Newspaper Groups
Here is my local community paper. They have a weekly print version mailed directly to homes and a digital version. What’s nice about my town’s newspaper is that it’s family-owned and one of four sister newspapers. In your town, there’s a likely chance that your newspaper is part of a group as well; therefore, your publicity could stretch to the other publications.
By advertising in a community newspaper, you often gain exposure in both their print and digital versions. Furthermore, simply by being a part of the paper, you’re showing good citizenship equating to increased credibility, something investors demand.
However, in order to get readers to contact you, be “active” with your ads rather than running the same ad over and over again. Instead, bring it to life, so that readers will look to see what’s new with you.
For example, mention in your ad:
- Important local community activities
- Nonprofit activities you’re involved in
- Sponsorships, take an action photo of the high school football team you sponsor
- Firm new hires/promotions/certifications
- Philanthropic travel
- Latest book you’re reading and the key takeaway
- Motivational quotes related to life and money
The ideas are endless. Still, I recommend keeping a 12-month calendar of ideas so you’re scheduled to swap out your advertising message.
Of course, through all of this, you always have a clear DBA and tagline within your ad that express the benefits of doing business with you as well as a strong call-to-action.
Before You Go…
Keep in touch while gaining fresh ideas to attract affluent investors and increase client loyalty, sign up for my free monthly financial advisor marketing tip. Also, be sure to explore my freelance financial writing services.
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