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New World of Online MarketingAdapting Micro-targeted Strategies to Create a Winning Message with your Ideal Prospects

Tuesday, May 29, 2018

Marketing Challenges

• Finding time to market

• Reaching qualified prospects

• Communicating value

• Implementing a consistent strategy

• Understanding what “works”

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What Is Working?

Perceived Effectiveness of Financial Advisor Marketing Activities

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0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Radio/television advertisingPrint advertising

Email campaignsSearch engine keyword optimization

Social media networks (actively posting content and interacting)Blog

Direct mail campaignNewspaper/magazine columnist

Sponsoring community eventsOnline advertising

General public relationsActively capturing leads on firm's website

Volunteering on non-profit boardsHosting networking events

Radio/television shows (either as a host or a guest)Community involvement Successful

Unsuccessful

© Michael Kitces, www.kitces.com.Source: InvestmentNews, 2016 Financial Performance Study of Advisory Firms.

Channels Where We See Success

• Client referrals

• COI referrals

• Thought Leadership

• Community Involvement

• Online

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Online

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SEO—Website,

Blogs, Videos, etc.

PPC—Google Ads

“Find an Advisor” Sites

Paid Social Media

Organic Social Media

Retargeting/Remarketing

Ads

What Is Microtargeting?

Microtargeting is a marketing strategy that uses consumer data and demographics to identify the interests of specific individuals or very small groups of like-minded individuals and influence their thoughts or actions.

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Source: searchcio.techtarget.com/definition/microtargeting

Why Use a Microtargeting Campaign?

• Diversifies marketing channels• Works without advisor’s time• Helps communicate value• Can run 24/7 for consistent

implementation• Is easily trackable and measurable• Provides a model that can be

replicated for infinite number of micro-niche markets

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How to Create a Microtargeted Campaign

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Microtargeted Campaign Overview

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Identify general target market

Survey target market

Define specific audience to microtarget

Build resources addressing greatest financial challenges

Promote resource to target audience

Capture contact information

Stay top of mind

Convert to an appointment

Phase 1: Research

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Step 1: Define Target Market

Define your ideal prospect in broad terms:

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ExampleAge 50–65 Employment Full time, part time,

retiredGender Male and female Career AnyIncome $100K+ Relationship Married, widowedEducation Any Parental status 1+ children

Ethnicity Any Location Any

Step 2: Construct Your Survey Questions

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• Start with an open-ended question about your target market’s greatest financial concern.

• Provide opportunity to understand secondary concerns.

• Ask other relevant questions that will help you understand your prospect.

ExampleWhat is your single greatest financial concern?

Open ended

Rank your financial concerns in order of importance.

Rank

When do you plan on retiring?

Multiple choice

Do you currently work with a financial advisor?

Yes/No

Step 3: Survey Your Target Market

Go to AYTM.com to survey 50 or more people. Do not survey your clients.

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The Results

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0%

10%

20%

30%

40%

I'm already fully retired

I'm already partially retired

In the next 5 years

In the next 5 to 10 years

More than 10 years from now

I don't plan to retire

Phase 2: Target

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Step 1: Create Client Personas

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• Analyze the survey data to find trends.• Determine who you are going to target.• Create fictionalized prospects to

force yourself to narrow your focus. Include:─ Current situation─ Demographic information─ Primary financial concerns

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Step 2: Identify the Issue

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• Using the results from your survey, identify the one issue that will resonate with your persona that you are going to address.

• Use this theme to craft a message across all of your campaign materials.

ExamplesHaving enough money to survive retirementHow to quit a highly compensated, yet highly stressful job to pursue other passions

Step 3: Address How to Solve Their Greatest Financial Concerns

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Develop content that addresses the persona’s greatest financial concerns:

• Articles/blogs

• Ebook/white paper

• Technology tool

• Online course

• Infographic

• Quiz

• Checklist

• Guidebook

• Webinar

Phase 3: Contact

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22Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic

23Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic

24Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic

25Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic

26Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic

27Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic

28Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic

29Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic

30Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic

31Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic

32Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic

33Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic

34Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic

35Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic

36Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic

37Source: https://www.wordstream.com/blog/ws/2016/06/27/facebook-ad-targeting-options-infographic

Step 1: Reach Your Target Market

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Step 2: Narrow the Field

Promote video, blog, and infographic content to your Facebook audience to gauge interest

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Step 3: Remarket

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Move anyone who engages with your content through the funnel by remarketing to them with a “premium resource” offer.

Step 4: Build Your Database by Collecting Contact Info

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Step 5: Drip on Your Leads

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Emails

Newsletters Event Invitations

Webinar Invitations

More In-Depth Resources

Retargeting Ads Custom Audience Ads

Step 6: Calibrate Your Campaign

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• Test various messages, audiences, promotional channels, offers, etc.

• Analyze reach, open rates, click-through rates, landing page visits, video views, conversion rates, appointment requests, etc.

• Make adjustments until you find the right combination.

Step 7: Make the Ask

• Second opinion

• 1 hour of financial advice

• Portfolio review

• Social security analysis

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Phase 4: Win! (Schedule an Appointment)

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Things to Consider Before Implementing

• Changes in the Facebook user experience will limit businesses’ organic reach, forcing more businesses to paid advertisements, which could drive up ad prices.

• Increased concerns about online privacy are creating lower user trust in Facebook.

• Cambridge Analytica scandal and the General Data Protection Regulation (GDPR) just implemented in the EU will likely lead to new regulations in the U.S., which may make Facebook marketing less effective.

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Questions?

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Resources

• Survey software: AYTM.com

• Landing page software: Unbounce.com

• Email marketing/simple marketing automation: MailChimp.com

• Import leads to Redtail: Zapier.com

• Retargeting Ads: AdRoll.com

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