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Can Email Marketing Work
For Your Financial Service Practice?

Your experience may be typical.

Your inbox is jammed. And you have a spam filter that bars many emails from ever reaching you (sometimes ones youíre expecting).

Those are the Cons.

What about the Pros?

The good news is that email marketing is inexpensive, fast, and easy to carry out. And it can be more effective than any other marketing channel available today if youíre smart.

Being smart is to be strategic.

And for email marketing for financial services to be strategic means to be sure you have everything in place so that your email message is welcome.

Email Marketing Basics For Financial Advisors
And Other Financial Service Professionals

Email Marketing can be as easy as 1-2-3.

Email Marketing Step #1 - Start Out With Your Best List

ďBestĒ means a list where you already have a relationship with the people in it. Yes, that would be your own list in your financial advisory practice.

If you donít have e-mail addresses for the clients and prospects in your database, you may be able to collect them. Encourage the prospects you encounter at:

  • a trade show,
  • an association meeting, or
  • on your web site

to give you their e-mail addresses along with permission to send them email.

Where you donít have email addresses, offer an enticement -- perhaps an article, tip sheet, insiderís checklist, an ezine, or access to a restricted area of your web site in exchange for their e-mail addresses.

A Word of Warning: Remember always to get their permission to send email to them.

Email Marketing Step #2 - Grasp What Your Target Audience Wants From You

Email marketing isnít any different from direct marketing offline for financial services professionals.

Knowing the problems, frustrations, and the trends buffeting your prospectsí lives along with their desires is vital to email success for your financial services practice.

Email Marketing Step #3 - Develop A Canít-Refuse Offer

Thatís exactly how Bob Hanson, Jr., increased the responsive of an email list by 350 percent over the usual lead-generating emails the firm sent out.

Best Practices To Make Email Marketing
More Effective For Financial Services Businesses

The financial services industry has been one of most successful categories for email marketing.

Itís Not About Snazzy Effects

Unlike what you may imagine, though, itís not about glitz and Flash. Whatís most important is developing content that will be valuable to your list, or a selected portion of your list.

Itís About Sending The Right Message
To The Right People

Segment your list so that your message resonates with your chosen group of prospects or clients.

What could it be?

Your target segment will tell you. You could send tips for retirement planning or even ideas for looking at their healthcare options in the light of their total financial picture.

Here's another example: According to information from a Forrester Research report, Schwab ďgenerates trades and contact with its investment consultants through emails it sends when the value of a customerís portfolio changes.Ē

For More Effective Email Marketing
Coordinate With Other Marketing Channels

You may see a lift from a direct mail communication, for example, when you follow up with an email. This synergy can multiply results! Or how about following up an email contact with a prompt phone call.

Use The Speed and Ease of Email To Test

Your response is almost immediate and itís relatively inexpensive. What can you test:

  • a segment of your list,
  • a list youíve acquired in a joint venture,
  • your subject line, or
  • your offer.

You wonít know for sure unless you test.

P.S. Remember, including a P.S. at the end of your email can pay off. It provides a last chance in your email marketing message to reinforce your offer and leave your prospects with a durable message. And itís a final place to put a link to more details or your sign-up form on your website

For more information about email marketing for financial services contact Bob Hanson by email or call Bob at 617-901-6886.


Marketing for Financial Advisors
Hanson Marketing Group
8011 Navajo Street, Philadelphia, PA 19118
Phone: 215-753-2620 | Fax: 215-754-4165
Copyright 2012, all rights reserved