consulting

Social media is an immeasurable asset for any financial marketer's arsenal

By Gloria Taylor 27 June, 2023 2 mins read

Any financial marketer has a wealth of social media tools. Social media is essential for financial success. 81% Americans use some type of social media. Most of them use it for between 4-5 hours a day. Boomers, millennials, as well as generation z use social media to communicate with friends, find new business opportunities, and keep abreast of current events. By maintaining a constant presence on these platforms, financial marketers will be able to grow their customer base and establish brand trust.

Inbound marketing

Inbound marketing is a great way to increase organic traffic and improve your conversion rate. This strategy puts customers first and addresses buyer's pain points during the entire buying journey. Goldcore, an industry leader in financial software development and analytics, uses it. Goldcore's blog traffic has increased by more than 80% in just two years and it is now a leading thought leader in the sector. Media outlets such as Bloomberg, Reuters and the FT regularly quote its content.

Finance firms can use inbound marketing to create more engaging content. Inbound marketing attracts more qualified leads, and allows for a more personal sales experience. Many financial marketers are slow to embrace this strategy despite the many benefits.

Customer experience

HiTouch is a global business to-business financial services company. The executives had just completed a quarterly account review and were confused about how they could improve customer service. They decided to run a mini audit of their customer service programs. They found that many of their vertical market teams had not advanced beyond tracking leads and analyzing purchasing patterns. CEM was considered a simple sales and marketing job for most employees.

Customer experience is increasingly becoming a customer-centric process that requires a multichannel approach. An omnichannel approach enables consumers to be reached in their preferred languages and platforms. This will increase response rates and provide more relevant data.

Social influencers

A great way to increase revenue is to use social influencers in marketing your financial products. By developing a strong relationship with your influencers, you can create educational content or promote complementary products. Fidelity has used storytelling to promote its Spire app which helps people plan for their financial future.

Influencers can influence people's views because they have large networks. IScoop discovered that 79% of Facebook users allow their friends' influence to affect their purchase decisions. Peer pressure can have a significant impact on buying decisions.

Customer outreach

Using the right marketing channels is essential to customer outreach for financial services. The best way to engage with customers is through a comprehensive approach that is proactive and thorough. Use digital marketing techniques to increase visibility and build loyal customers. Customer loyalty programs are a great way for customers to be engaged and to encourage them to buy products or services. Do not limit your rewards to what is commonplace.

One of the oldest marketing strategies is customer outreach. Financial marketers can increase customer loyalty and promote their products by reaching out and educating potential customers. This can be done through free consultations, webinars or debt management programs.

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FAQ

What is the cost of hiring a consultant?

The cost to hire a consultant depends on many factors. These are:

Project size
Time frame
Scope of employment
Fees
Deliverables
Other considerations include experience level, geographic location, and so forth.

How can I become a successful consultant

First, find a subject you're passionate about. First, build relationships. Understanding your clients' needs and operating style is essential. You must also deliver results.

While you don’t necessarily have to excel at every task, you should be better than all the rest. You need passion for what your do. It doesn't suffice to say, "I will be a consultant." It's important to believe in your abilities and do what you love.

How much do consultants make?

Although some consultants can make more than $100k annually, the majority of consultants earn between $25-$50k. The average consultant salary is $39,000 This includes both salaried as well hourly consultants.

Salary is dependent on experience, location and industry. It also depends on whether the consultant works from home or has a remote office.

How do I choose a good consultant?

There are three main factors to consider:

Experience - How much experience does this consultant have? Is she a beginner, intermediate, advanced, expert, or something else? Does her resume show that she has the necessary skills and knowledge?
Education - What did this person study in school? Did he/she study any relevant courses after graduating from high school? Are we able to see evidence of his/her learning through the way he/she writes
Personality - Do we like this person? Would you want this person to work for you?
These questions can help you determine whether the consultant is right for your needs. If there are no clear answers, then it might be worth an initial interview to learn more about the candidate.

Statistics

"From there, I told them my rates were going up 25%, this is the new hourly rate, and every single one of them said 'done, fine.' (nerdwallet.com)
According to IBISWorld, revenues in the consulting industry will exceed $261 billion in 2020. (nerdwallet.com)
According to statistics from the ONS, the UK has around 300,000 consultants, of which around 63,000 professionals work as management consultants. (consultancy.uk)
WHY choose me: Why your ideal client should choose you (ex: 10 years of experience and 6-week program has helped over 20 clients boost their sales by an average of 33% in 6 months). (consultingsuccess.com)
My 10 years of experience and 6-step program have helped over 20 clients boost their sales by an average of 33% in 6 months. (consultingsuccess.com)