Myths and Opportunities: Marketing Insights for the Financial Services Industry

Welcome to WomenShare: A Marketing Guide for Women in Financial Services. In this episode of the podcast, hosts Joanna Ehresman and Leah Alter are dispelling the most common marketing myths we’ve heard throughout our careers and offering strategies to help you find new opportunities for yourself or your business.

If you believe that marketing is a waste of time and budget, an all-or-nothing effort, or that one strategy is your silver bullet, this episode is for you because we’re proving all of these myths wrong. There are so many ways you can build your marketing plan and budget to fit your goals and find your audience.

We’re going to talk about how to measure your marketing based on your goals, setting those goals in a way that is SMART, and using data to drive your decisions.

Whether you're a financial advisor or part of a corporate team, this episode will inspire you with new ideas for your own marketing strategies. Stay tuned for valuable insights from our collective experience of supporting thousands of financial advisors. Let's empower women in finance and make a positive impact on their businesses and careers.

Key takeaways

1. Marketing is not a waste of time and resources. Despite the smaller marketing budgets in the financial services industry, building a solid marketing foundation is essential for consistent growth.
2. Having a strong marketing foundation includes knowing your brand, messaging, and target audience. Without this foundation, flashy marketing strategies may fail to yield sustainable results.
3. Different marketing approaches are needed depending on the source of leads. Referrals require a different playbook than prospects from traditional marketing or advertising means. Understanding this distinction and adapting your approach accordingly is crucial.
4. Personalization is key in marketing. Just as financial advice becomes personalized for clients, the marketing experience should be personalized for prospects. By stepping into their shoes and addressing their specific needs and gaps, you increase the chances of closing the sale.
5. It's not necessary to be present on every marketing platform or use every strategy. Being effective doesn't require being everywhere all at once. Instead, focus on a few strategies that align with your budget and target audience, and use them consistently for better results.