Marketing Corner – February 5th, 2016
25 Marketing Stats Every Financial Advisor Needs To Know
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.
Organizations using email to nurture leads result in 50% sales-ready prospects.
Forrester Research via Hubspot
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 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 via PremierIMS
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
Main Takeaway: Even in a digital driven marketplace, direct mail is still a very effective marketing platform.
70% of mobile searches result in website action with an hour
A little over 80% of consumers surveyed stated they would delete a mobile email if it didn’t render properly.
65% of all email is opened on a mobile device, such as a smartphone or tablet.
Almost half of consumers will abandon a website if it renders poorly on a mobile device.
The Social Media Hat
40% 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.
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% conversion.
Main Takeaway: Video can be a powerful way to enhance your website and marketing materials.
A one second delay in loading time can reduce conversions by 7%
A loading time of more than three seconds causes 40% of shoppers to abandon the website.
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 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%).
“Social Media’s Growing Influence Among High Net Worth Investors”
Over 60% of advisors who used LinkedIn for prospecting acquired new clients.
LinkedIn and FTI Consulting
According to a recent American Century Investments report, about 43% financial professionals identify a positive ROI to their social media use.
American Century Investments
The same ACI report found that LinkedIn helped advisors surveyed by:
- Enhancing profile with clients (48%)
- Enhancing business knowledge (28%)
- Improving on referrals (28%)
- Sharing insights with clients/prospects (24%)American Century Investments
A recent Putnam survey of over 800 advisors, found that 79% had found new clients via various social media.
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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