Here is the script for those who would like to read it:
For this episode we will answer the following question:
What is Inbound Marketing specifically for financial service firms?
In order to answer that question, we need to first define what is Inbound marketing in general terms.
Inbound Marketing follows a methodology which has 4 components; attract, convert, close, and delight. Each component represents a stage of your marketing activities by using Inbound efforts to attract potential customers with the right content within the right context which is contrary to Outbound Marketing.
A great example to contrast Inbound and outbound marketing is that inbound marketing would focus on writing and producing content on their website so that prospects may find them through search engines when they are faced with a problem. Whereas Outbound would focus on publishing banner ads in the subway system where to some may find it disruptive and unrelated to them.
Inbound Marketing is a cost effective and more efficient way to generate leads and acquiring new customers because it helps build relationships through your website with helpful content that speaks to them. Again, providing the right content within the right context.
In terms of financial services, when inbound Marketing is applied, Advisors will potentially have more leads in their pipeline. Advisors, at the moment, rely heavily on traditional approaches, that of course still have some of their worth today, such as mailing, happy hour presentations, trade shows and referrals. But with how advance technology has become, potential investors have all the power.
In the past, when investors had a need to invest, the first step in their buying process is to seek a financial advisor for information. Today, they don’t need to speak with one until they are ready to proceed with a transaction. With the power of internet, they could do a lot of the research on their own to find what is best suited for them.
This is where Inbound Marketing comes in. By creating content and publishing them online to Attract, Convert, close and delighting customers you have the opportunity to be part of the journey as they do their research on their own.
The sales process starts online. It’s time for financial service firms to have that presence online to generate leads, close more deals and have a competitive advantage by differentiating themselves by providing the right content in the right context to the right people.