The term digital marketing has been bouncing around for a number of years but what does it really mean and how does digital marketing affect the way you do business?
Digital marketing – what does it really mean?
A quick online search for the term “Digital Marketing” will return a variety of definitions and insights. The essence of all the definitions is that digital marketing reaches your target market through digital devices; Digital devices include PCs, laptops, tablets, smart phones, TVs and game consoles.
Here we look at a few other insights into the definition of Digital Marketing from various sources online:
“Digital Marketing leverages electronic devices (PC, Tablet, Phone, TVs) to provide an experience that influences a desired audience to take an action.” Kevin Green, Executive Director of Marketing at Dell
“Digital Marketing is the marketing of products or services using digital channels to reach consumers. Digital marketing extends beyond internet marketing to include channels that do not require the use of the internet. It includes mobile phones (both SMS and MMS), social media marketing, display advertising, search engine marketing, and any other form of digital media.” Financial Times
“Digital marketing is marketing that makes use of electronic devices (computers) such as personal computers, smartphones, cellphones, tablets and game consoles to engage with stakeholders.” Wikipedia
Why is digital marketing so important for Financial Planners?
Just as digital devices are an integral part of our personal and work lives so too should digital marketing be an integral part of every Financial Planner’s marketing mix.
Whether it’s researching on the internet via a PC or laptop, browsing through social media posts on a mobile phone or accessing content through a TV, clients have greater control over what they see and when they see it.
Life events are most likely to drive the need to find a financial planner and that is why it is so important that your business is top of mind with your clients and easy to find for your prospects. At a click of a button your clients and prospects need to be able to:
- find you,
- know how you can add value to their lives,
- and be easily able to contact you.
What are the key elements of digital marketing?
For a financial planning business there are a number of key elements to consider in the area of digital marketing:
When a client or prospect wants to learn more about your business they will typically visit your website. Your website not only has to look professional it should also be updated regularly with fresh content and be mobile friendly.
It all starts with words typed into the Google search box. If you want to attract more of the “right” visitors to your website then you will need to optimise your website for SEO (search engine optimisation). SEO focuses on increasing your search engine ranking for keywords that are likely to be searched by your target market.
As much as we love to loathe it, email continues to be a key tool for communication for both our work and personal lives. For a Financial Planning business email provides a cost effective method of reaching your clients and prospects and through the use of an email communication system you are able to measure the reach of your messages.
Social media marketing allows businesses of all sizes to extend the reach of their messages, share relevant information and interact with clients and prospects. Social Media makes it easier for your business to be found and is a powerful tool to help you to educate your clients and build your online credibility.
As defined by the Content Marketing Institute, Content Marketing involves creating and distributing valuable, relevant, and consistent content to attract and retain a clearly-defined audience. For a financial planner this could be articles, videos, infographics and slideshow presentations. There are 2 types of content marketing: created and curated.
- Created content is the content that your business has created and is branded and copyrighted for your business. You can publish this content on your website and distribute this content freely via any communication method.
- Curated content is content that you have found from another credible source, ie. another website. You need to be very careful as to how you use curated content as to not break any copyright laws. For example, if you find an article on another business' website that you think your clients would find interesting, you can share a link to that article on social media (the link would go to the other business' website and not your website). However, you are not able to publish that same article on your website unless you have written permission from the author.
Video is a powerful marketing tool. When information is presented orally, people retain only 10 percent of it, on average. However, when it is delivered both orally and visually, the retention rate rises to 68 percent. Video marketing can help you educate your clients and prospects by taking somewhat complex financial planning concepts and explaining them using the power of a video. Read more about explainer videos.
Pay Per Click Advertising
Pay per click advertising is an internet advertising model used to direct traffic to websites, in which advertisers pay the publisher (typically a website owner) when the ad is clicked.
Mobile marketing – SMS and MMS
Mobile marketing in the form of sending bulk SMS and MMS has become a popular digital marketing trend for some businesses. SMS is a plain text message and MMS is a message sent to mobile phones in the form of a video or pictures.
Digital Marketing in Action – Templetons Financial Strategies
Templetons Financial Strategies, a Financial Planning business based in Brisbane, has successfully integrated Digital Marketing in to their marketing mix. Read more about how Templetons has embraced digital marketing.
For more information about Digital Marketing solutions for your business please contact Peter Talty on 02 4342 1888 or email firstname.lastname@example.org
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