What if every visitor to your website spent 30 minutes with you to understand your background, what makes your firm different, and how you can help them? How would that impact your lead conversion rate? This is where webinar marketing lends a hand.
Most of the advisors I work with have rock-solid value propositions that convert at 70% to 90% when they actually get a chance to sit down with a prospect. The problem is that their value propositions tend to be complex and tough to explain through text on a website.
That’s where webinars can revolutionize a financial advisor’s marketing. Webinars can quadruple your conversion rate when compared to email marketing. And today, new technologies make webinars easier than ever to create. I’m passionate about webinar marketing as the next frontier for advisors for a few reasons:
1. They’re an Inexpensive Alternative to Seminars
We know that seminars are effective marketing tools because so many advisors have used them to build their businesses in the past. But when you consider costs for the location, food, parking, and other expenses, they can be impractical. A webinar provides many of the benefits of a seminar, without the high costs.
2. They Make Complex Topics More Palatable
Whether you plan to educate employees of a company about the details of their pension plan or teach pre-retirees about Social Security claiming strategies, you know that financial planning topics can be dry and confusing. Webinars make complex ideas easier to understand and more engaging.
3. You Can Use Them for Client Education
Top advisors today use webinars to educate clients about market changes or keep them up to date on firm news and events. Webinars are a great way to help clients feel in the know on a regular basis without having to meet with each of them one-on-one.
4. They Are Scalable for Small or Large Audiences
Unlike seminars, webinars have the same low cost whether you’re running one for 50 or 500 prospects. Once you put in the time and energy to create a webinar, you can share it with as many prospects as you can find.
5. They Feature a Call to Action
The goal of any prospecting webinar is to help the viewer understand the problem, the solution, and urge them to take action. Your webinar may feature a free second opinion, introductory phone call, or insurance policy audit. Whichever next step is appropriate for the viewer to take can be promoted at the end of the presentation.
6. They Capture Email Addresses to Grow Your Email List
Even if webinar attendees do not take action after they view the presentation, you will retain their email address so you can communicate with them the future. As you grow your list and nurture your subscribers over time, more of them will eventually take action and do business with you.
7. They Have Conversion Rates of 20-40% (vs. 2-5% for Email)
Depending on your call to action, webinars can have conversion rates as high as 40%. Because viewers get so much information from a webinar presentation and have invested their time, they’re much more likely to take the next step than someone who only reads your emails.
8. They Can Be Used in Perpetuity
Once you create a webinar and get it approved by compliance, you can use it over and over to turn website visits into prospect appointments. I recommend creating webinars for each important niche you serve so that you can use them indefinitely to get new appointments on your calendar.
Are you interested in how top advisors are using webinar marketing to get new clients? Do you want to learn more about the easiest way to create and promote your first webinar? Register now for Webinar Marketing for Financial Advisors to find out everything you need to know about the next frontier of marketing!
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Claire Akin runs Indigo Marketing Agency a marketing firm serving top independent financial advisors. Claire is a former Investment Advisor Representative who holds her MBA in Marketing from the Rady School of Management at UC San Diego as well as a BA in Economics from UC Davis. It’s her goal to help specialist advisors target their ideal prospects with content marketing.