25 marketing stats every financial advisor needs to knowArticle added by Curtis Hawks MBA on February 23, 2016
Curtis Hawks

Curtis Hawks MBA

TOPEKA, KS

Joined: January 28, 2011

Financial advisors often state that marketing and prospecting are the main challenges they face in their practice. This is certainly understandable: marketing is a rapidly evolving process and reaching consumers can be difficult. However, it is possible to position yourself for success in our digitally-driven world. The important thing to remember is that there is not one process that will give you the edge, but rather a collection of approaches that work in concert with each other. That said here are 25 important marketing stats you need to know sectioned off by different topic area.

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Email
  • Organizations using email to nurture leads result in 50 percent sales-ready prospects. (Forrester Research via Hubspot)

  • These nurtured leads see a 20 percent increase in sales opportunities when compared to non-nurtured prospects. (Hubspot)

  • Personalized messages are more effective than non-personalized messages. According to an Experian study, personalized messages received 29 percent higher open rates and 41 percent more unique clicks. (Experian)

  • According to Campaign Monitor, personalized subject lines saw a 26 percent increase in open rates. (Campaign Monitor)

  • Email is more effective for client acquisition than social media. McKinsey found that it was almost 40 times more effective than Twitter and Facebook combined. (McKinsey)
Main Takeaway: Advisors should be utilizing email as a marketing tool and as a way to nurture leads passing through their marketing funnel. The more personalized you are, the better your open and click-through rates will be.

Direct Mail
  • Direct mail is nearly seven times more effective than email, mobile, social media, internet display, and paid search — combined. This is according the Direct Marketing Association Response Rate Report 2015. (DMA viaPremierIMS)

  • Over forty percent of people that receive direct mail items read or scan them. (DMA Statistical Fact Book via eleventy marketing group)

  • A survey conducted by DMA found that seventy-nine percent of consumers would act on direct mail immediately versus 45% who said they would act on email immediately. (DMA via The Drum)

  • A neurological study conducted by Temple University, and sponsored by the Postal Service Inspector General’s Office, found that:
    -While digital ads draw attention quicker, direct mail has more review time

    -Direct mail is more easily remembered than digital ads.

    -Direct mail elicits more of an “emotional reaction” than digital ads (DM News)
Main Takeaway: Even in a digital driven marketplace, direct mail is still a very effective marketing platform.
Mobile
  • 70 percent of mobile searches result in website action with an hour. (IAcquire)

  • A little over 80 percent of consumers surveyed stated they would delete a mobile email if it didn’t render properly. (Blue Hornet)

  • 65 percent of all email is opened on a mobile device, such as a smartphone or tablet. (Venture Beat)

  • Almost half of consumers will abandon a website if it renders poorly on a mobile device. (The Social Media Hat)

  • 40 percent of mobile searches are focused on local services. (Think With Google)
Main Takeaway: Consumers increasingly use their mobile devices to access the Internet and interact with pieces of marketing. Your website and your emails should be designed for the mobile experience.

Video
  • Consumers spend an extra two minutes on websites with video, versus sites that don’t. (Merchant Marketing Group)

  • More than half of all mobile traffic is online video. (Merchant Marketing Group)

  • Video on landing pages leads to an increase in conversion, in one test case as much as 86 percent conversion. (EyeView)
Main Takeaway: Video can be a powerful way to enhance your website and marketing materials.

Website
  • A one second delay in loading time can reduce conversions by 7 percent. (Kissmetrics)

  • A loading time of more than three seconds causes 40 percent of shoppers to abandon the website. (Kissmetrics)

  • Not really a stat, but very important. In April of 2015, Google began using mobile-friendliness as a ranking signal in search results. This means if your website does not smoothly translate to mobile, it may not rank higher in search results when a consumer searches from a mobile device.

    Main Takeaway: Make sure your website loads quickly and incorporates responsive design.

    Social Media
    • Social media is now an important research tool for investors. According to a report from LinkedIn and Cogent Research, 5 million investors with assets $100,000 or more use social media to investigate their financial decisions. (LinkedIn/Cogent Research “Social Media's Growing Influence Among High Net Worth Investors”)

    • Most high-net-worth investors use social media (over 90 percent). (LinkedIn/Cogent Research “Social Media's Growing Influence Among High Net Worth Investors”)

    • Over 60 percent of advisors who used LinkedIn for prospecting acquired new clients. (LinkedIn and FTI Consulting)

    • According to a recent American Century Investments report, about 43 percent financial professionals identify a positive ROI to their social media use. (American Century Investments)

    • The same ACI report found LinkedIn helped advisors surveyed by:
      -Enhancing profile with clients (48 percent)

      -Enhancing business knowledge (28 percent)

      -Improving on referrals (28 percent)

      -Sharing insights with clients/prospects (24 percent) (American Century Investments)

    • A recent Putnam survey of over 800 advisors, found that 79 percent had found new clients via various social media. (Putnam Investments)
    Main takeaway: Social media, especially LinkedIn, can be extremely useful to connect with new clients. These clients include high-net-worth individuals and others many advisors would identify as their target market.
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