Diving into Digital A Practical Guide to Deepening Connections with Clients and Prospects

1 OVERVIEW

The Current State of

A Road Map to Integrated Marketing

TACTICS

Connecting through Websites

Making Connections with Social Media

Digital Content to Drive Deeper Connections

Click each section to find out more Expanding Connections with Search Engine Optimization (SEO)

Using Online to Amplify Connections

How Email Campaigns Reinforce Connections

NEXT STEPS

Dive in: A Checklist for Digital Marketing

Resources to Help Get Started

2 The Current State of Digital Marketing Insight from research into the status of digital marketing in the wealth management industry today, and why Fidelity believes that digital marketing is an effective vehicle for growth.

3 Ten Things You Need to Know about Digital Marketing in Wealth Management

Digital marketing offers an exceptional opportunity to reach % of firms that engage in each approach3 1 your clients. There are 5.1 billion unique mobile users around the world1 and 3.72 billion Collateral 84% active social media users.2 Those are staggering numbers that indicate a (e.g., brochures, flyers/one pagers, pitch books) remarkable opportunity for wealth management firms to not only experiment with digital marketing, but also adopt a disciplined approach to connecting Events 82% more deeply with clients and generating leads that will help drive a strong (e.g., client appreciation, educational, webinars) future for their business. Social media 77% (e.g., Twitter, Facebook, LinkedIn, Instagram) Digital marketing allows you to be available to your clients 2 when traditional means are not possible. Content marketing 64% (e.g., thought leadership white papers/articles, videos, podcasts, ebooks) During the COVID-19 crisis, digital marketing became even more essential. Firms used social media, websites and email to rapidly communicate urgent 52% information and reassure clients during a difficult time. It also became more (e.g., paid digital ads, retargeting) important to keep digital content up-to-date. Traditional advertising 52% (e.g., signage, print ads, radio, TV, sponsorships) 3 Digital marketing is active in the wealth management industry. According to recent Fidelity research, 90% of advisors employ at least one of PR 49% the digital marketing techniques. This exceeds traditional advertising at 52% (e.g., radio/TV appearances, news releases, by-lines) and PR at 49%.3

The Current State of Digital Marketing 4 Ten Things You Need to Know about Digital Marketing in Wealth Management

Advisors are meeting investors where they are: online. 4 Advisor Use of Social Media Platforms Over 3/4 of advisors are active on social media. LinkedIn is leading the pack: 28% 88% of advisors on social media use LinkedIn, and 58% of them believe it is LinkedIn effective at generating qualified leads.3 88% 25% Facebook 71% Younger generations are especially receptive. 13% 5 Twitter Over half of Gen XYZ* investors said they had a significantly more positive 49% impression of advisors who have a good website.4 At the same time, 2/3 of 8% advisors engaging in digital marketing believe that social media is an effective Instagram lead-generation tactic with millennial investors.3 (In fact, Fidelity conducts 26% analysis to help firms understand how their website will appeal to millennials.) 9% YouTube 25% But don’t forget the Baby Boomers.** Over half of advisors engaging in digital marketing believe that email campaigns and online events are effective tools 4% SnapChat for lead-generation with baby boomers.3 14% 2% Tumblr 10%

2% Pinterest 10%

Paid advertising Overall use

* “Gen XYZ” = investors born between 1965 and 1998 (Gen Z birth years do extend to 2012, however only those 21 or older were allowed to participate in the survey) ** “Baby boomers” = investors born between 1946 and 1964

The Current State of Digital Marketing 5 Ten Things You Need to Know about Digital Marketing in Wealth Management

Search Engine Optimization (SEO) is helping to optimize % of respondents engaging in digital marketing 6 content, but not everyone knows what it is. who use each marketing technology3 While 35% of advisors employ SEO strategies, 30% of these advisors are not sure what specific strategy their firm is employing. The most Content marketing 12% common SEO strategy used is leveraging high-value keywords in platform(s) (e.g., Vestorly, Financial Media Exchange) website copy.3 Marketing automation and 12% campaign management platform(s) (e.g., Hubspot, Marketo) Regulatory concerns are sometimes viewed as a barrier. 7 Advertising and 20% More than half of advisors who engage in social media marketing view promotional service(s) (e.g., online advertising, paid search, social advertising) compliance issues as the major hindrance to using it effectively.3 It’s important to work closely with your firm’s compliance officer to help Marketing analytics 29% software/platform(s) manage regulatory issues. (e.g., Google Analytics)

Social media marketing and 30% monitoring service(s) (e.g., Khoros, Hootsuite) 8 Advisors are investing in marketing technology. Almost 3/4 of advisors who engage in digital marketing have invested Email marketing platform(s) 44% in CRM solutions, and the highest satisfaction levels are recorded when (e.g., Constant Contact) advisors believe their technology solutions are well integrated.3 Meetings/webinar/ 50% event software (e.g., WebEx, GoToMeeting)

Customer Relationship 74% Management (CRM) software (e.g., Salesforce)

The Current State of Digital Marketing 6 Ten Things You Need to Know about Digital Marketing in Wealth Management

Firms spend less on digital marketing than Top Five Priorities in Marketing Budgets:3 9 other industries. In-person events and collateral, not digital marketing, 1. Events are the top priorities of marketing budgets. The industry also spends less on marketing overall than 2. Communications other industries. According to Gartner CMO Spend Survey 2018−2019, overall marketing budgets were 3. Collateral 11.2% of revenue in 2018.5 By comparison, according to Fidelity research, RIA firms spend an average of 2% 4. Social media of revenue on marketing.6 Spend is expected to either 5. Digital marketing, excluding stay the same or increase: only 1% of RIA firms plan to decrease marketing spend.3 social media

Success is still measured by the number of 10 leads generated. Despite many other benefits, the majority of advisors measure the success of marketing activity by new leads generated. Email campaigns, online events, and social media were ranked as the tactics most likely to generate leads.3

The Current State of Digital Marketing 7 We believe that digital marketing can be an effective and efficient strategy for growth.

Digital marketing allows you to:

Increase the efficiency of your marketing efforts: Enhance the client experience: Digital marketing is usually the cost-effective sibling to Digital marketing can help make your firm more traditional marketing. It can provide better return for your approachable by enabling target prospects to get to know marketing spend by yielding real-time feedback and better your and capabilities before the first meeting. It can metrics than other forms of marketing, making it easier to allow you to personalize and tailor messages to your So why are some firms understanding what is working. audience in formats they crave, increasing the likelihood still relatively hesitant to that they will engage and even share your message. It creates and enhances connections. commit greater resources Build your brand: Most people conduct online research before engaging with Generate leads: to digital marketing? a wealth advisor. Digital marketing can showcase your products and services while sharing thought leadership that Digital marketing can generate leads and engage prospects by sets you apart, and it educates and engages clients and allowing you to connect with people where they are at all times prospective clients. of the day. It presents specific targeting opportunities, including geographic, demographic, and behavioral, and it allows you to test and learn by experimenting with different formats, channels, and messaging.

The Current State of Digital Marketing 8 Based on our research, as well as That’s why we’ve created this ebook. interviews with firm leaders and In it you will find informative and comprehensive guidance that explains and explores digital marketing, marketing executives in wealth and offers important resources that we hope will launch or enhance your journey: management, we’ve found that many firms are simply afraid to An introduction to digital marketing, including clear definitions and examples begin. Others often feel that they lack the skills or resources to market their firm effectively. A road map that includes six steps to operationalize an integrated marketing program

Best practices for the most frequently used digital marketing tactics

Stories, insights, and advice from wealth management firms that leverage digital marketing for success

A checklist and additional resources that provide extra support

The Current State of Digital Marketing 9 Endnotes: 1. The 2019 GSMA Global Policy Trends Reports: Dependencies and Risks: https://bit.ly/2DYV9LS. 2. DataReportal Digital 2019 Q4 Global Digital Snapshot Report. 3. The 2019 Fidelity Financial Advisor Community—Digital Marketing Study. 4. The 2019 Fidelity Investor Insights Study. 5. Gartner, Inc., CMO Spend Survey 2018–2019. 6. The 2018 Fidelity RIA Benchmarking Study. The 2019 Fidelity Financial Advisor Community—Digital Marketing Study. The Digital Marketing Study was an online blind survey (Fidelity not identified) and was fielded from June 10 through June 24, 2019. Participants included 474 advisors who manage or advise upon client assets either individually or as a team, and work primarily with individual investors. Advisor firm types included a mix of banks, independent broker-dealers, insurance companies, regional broker-dealers, RIAs, and national brokerage firms (commonly referred to as wirehouses), with findings weighted to reflect industry composition. The study was conducted by an independent firm not affiliated with Fidelity Investments.

The Current State of Digital Marketing 10 A Road Map to Integrated Marketing Digital marketing should be considered in the context of your broader marketing and business strategy, and integrated efficiently for maximum results.

11 1 A Road Map to Marketing Know Your Before jumping in with digital marketing, it is Clients important to consider your overall and how digital marketing will play an integrated role. Regardless of your digital 6 2 Review and Strengthen Your marketing maturity, you can help optimize Revise Story the impact and integrate your efforts by following a road map. There are six steps to consider in a marketing strategy road map: MARKETING INTEGRATION

5 3 Drive Create Your Plan Engagement

4 Build Your Presence

A Road Map to Integrated Marketing 12 “You have to know your audience to grow your audience.” 1. Know Your Clients –LISA HAMANN, DIRECTOR OF MARKETING, The first step in any marketing effort is to know your clients, both your current clients and prospective ADVISER INVESTMENTS clients. When you truly understand your target, you are more likely to deliver a marketing campaign that speaks to their needs, wants, and preferences—and stand out from other firms in the market.

Start with your best clients in mind Consider their hobbies, likes, and interests One way to zero in on your ideal client segments is Where can you find your target audience? Consider the magazines to think about the attributes of the best clients you or newspapers they read, and the websites or social media sites serve today. they visit. Go deeper by thinking through the themes and Consider a Client messages they may be receptive to: their hopes and goals, fears and concerns, and their biggest objections to or reasons for hiring Segmentation Strategy Begin with the basics a financial advisor. Once you understand your clients and prospects, you may want to consider segmentation. Nine out Consider demographics (age, marital status, work of ten advisors with a segmentation strategy state status, gender, children, location), assets under that it’s critical for increasing firm efficiency, management, and services needed, including when, Know what matters to them advisor productivity, and overall firm profitability.1 where, and how they access financial services. Get beyond the fundamentals to understand what your target clients really care about, their likes, dislikes, and preferences. According to Fidelity research, the top five factors Recall the last few conversations you’ve had with current clients. used in client segmentation are client profitability, What concerns and challenges are on their minds, and what life client asset level, time and resources required, events are they dealing with? future client revenue, and the product and service needs of specific clients.1

A Road Map to Integrated Marketing 13 “We really needed to sit down and write down who we are before we could 2. Strengthen Your Story relaunch our website.” With your target clients in mind, evaluate how your firm story can be improved to better capture their attention –TODD BATTAGLIA, PRESIDENT and leave a lasting impression. Although you likely have an existing story you tell about your brand and history, & CEO, MG&A WEALTH being as consistent and compelling as possible will help your firm distinguish itself in a competitive marketplace. This becomes even more important as people go online to vet professional service providers.

Why do you do what you do? Who are your clients and what What do you do to address How do clients benefit by What is your core purpose? are the challenges your firm client needs? working with your firm? Your “why” describes the passion helps them to solve? What’s unique about your approach, Focus on how your work improves and you have for the business and why Identify the issues your target audiences investment philosophy, and business enhances the lives of your clients. This you are excited to come to work hope to address. Leverage personal style? What words and phrases describe part of the story relates to your products each day. This will help others stories from the people you work with how your business stands out in the and services and how they align with recognize what you stand for— to bring your firm story to life. marketplace, and what can you offer what matters to your target audience. what motivates and inspires you. that other firms can’t? Think this through in three areas: your firm and people, your offering, and your approach.

Once you have honed your narrative, test it on your team, your centers of influence, and your clients to ensure it authentically represents your firm’s value proposition and uniqueness. Your firm story should be represented in your marketing materials and evident in how you communicate with your clients.

A Road Map to Integrated Marketing 14 3. Create Your Plan You should consider documenting and incorporating your digital marketing plan into your overall What could your plan include? Here are marketing plan. This includes revisiting your firm’s business objectives and strategies—both short term potential examples of digital marketing and long term–so that you can align your digital marketing activities in support of the firm’s goals. Be objectives: clear about what you will do, when you will do it, and how you will measure success. (Visit the Resources section to see a sample marketing plan.) • Increase new households by 25% via targeted outreach: 4 events, 4 email campaigns, and SEO. Depending on the tactics employed in your digital marketing strategy, you will use specific metrics to evaluate performance. Email open rates, subscribers, likes/shares, and website traffic are common metrics that can be easily monitored and viewed • Interact with customers digitally 2x per month on a dashboard, but do not forget about more macro metrics such as: # of new leads/prospects, # of new clients, revenue via personalized emails (birthday, anniversary, and asset growth, and share of wallet. Regardless of the metrics you use, identify them up front and be prepared to review etc.), invitations to webinars or events, and refresh them often. newsletters, and content customized by segment (e.g., financial planning articles). • Convert more web traffic into leads: achieve 25% increase in overall website traffic through Fidelity research revealed advisors’ SEO; add calls to action on website for top three marketing goals: newsletter sign-up; create more targeted content to improve click-through rate by 10% and decrease bounce rate by 20%. Attract prospective clients 1 in 3 broker-dealer advisors • Increase Facebook followers by 50% by: posting engaging content biweekly to boost Cultivate referrals also have a goal to acquire new shares, likes, and comments; encouraging advisor talent through follows in all email newsletters; and conducting Deepen relationships and marketing2 an email campaign with clients and prospects. share of wallet2

A Road Map to Integrated Marketing 15 “It’s hard to be seen as an expert in your field today without a social or 4. Build Your Presence online presence. It’s part of how people stand out Establishing your digital footprint is the foundational element of your digital marketing plan. and compete.” –SARAH HOWES, MARKETING DIRECTOR, COMMONWEALTH An online presence is built on websites and social media accounts. As a primary consideration, look to FINANCIAL NETWORK where your audience is to determine where to focus your efforts. Also, match your objective with the right social media channel. For example, Facebook is usually better for showcasing the culture of your firm and LinkedIn is better for sharing thought-provoking content for a professional audience. Work closely with your compliance team to ensure your efforts fall within the boundaries of applicable laws, rules, and regulations.

The initial goal is to establish a quality Once your digital presence is Unlike traditional marketing, the beauty website and social media business established, your job is not done. You and challenge of digital marketing is that account. Your website or social media will need to deliver fresh content to you can make updates very easily. Your account should contain the fundamental keep your audience engaged and digital presence is never complete. This Consider your website and social information that customers and coming back. Over time, you should provides unlimited opportunity to media presence as the equivalent prospects may need. Be willing to start refine the message, appearance, and refresh your message to connect with of a physical storefront. small, learn, and then grow. approach of your website or social clients and establish your relevance. media. You want it to be engaging and relate to your target audience so that they spend time there. Now more than ever, it is important for you to be digitally available to your clients.

A Road Map to Integrated Marketing 16 5. Drive Engagement Your website and social media pages may be well designed and filled with insightful content, but your One of the key benefits of digital marketing is its ability efforts are ultimately wasted if you cannot attract traffic to your site and drive prospect conversion. to drive two-way communication with clients and prospects. There are several ways you can embrace Four sources of traffic: Ways to drive this traffic: two-way communication.

Enter your site by typing your URL into their Consider the following: • Include your website URL on all material, Direct web browser; visitors know your site address including all printed collateral and traditional • Be sure to have a call to action clearly present in all from prior visits, printed materials, or via advertising material, whether online or printed. Examples include recommendation links to sign up for an email newsletter, and a suggestion to read a latest blog on social media. Referred Accesses your site through external links on • Leverage email campaigns with active links partner sites or via content posted outside • Have a process in place to respond to online your site • Co-create content with other authors communication. Note which customers “like” or share your content, and respond to any comments on social media in a timely manner. Finds your site by conducting a search on a • Post content that is interesting to your audience search engine; search engine optimization • Acknowledge your most active users and those who Organic • (SEO) is the technique to drive organic traffic Use relevant keywords that show up in search share your content. to your site queries; test keywords often • Negative comments on social media can be a significant drag on your engagement activities. Deal Visit your website as a result of your paid • Invest in advertising in social media, local with any negative comments quickly and in a polite advertising efforts on social media, websites, business publications, and on relevant lifestyle Paid and professional way. Engage with your compliance or search engines sites for your target audience team to ensure adherence to regulations.

A Road Map to Integrated Marketing 17 6. Revise and Review “Even in small doses metrics and analytics can move the Digital marketing is a fluid pursuit. Circumstances inevitably change and communication channels needle in terms of helping evolve. You will need to be agile and update your approach based on feedback and metrics. Despite advisors decide how and that, there are a few rules of thumb that allow you to make the most of your efforts: where to focus their digital marketing efforts.” –SARAH HOWES, MARKETING Assess campaigns swiftly upon their completion Include direct client feedback whenever possible DIRECTOR, COMMONWEALTH FINANCIAL NETWORK Do not wait for an annual review. Following an email Ask clients how they learned or read about your firm to track the campaign, consider the metrics you stated upfront: How effectiveness of the medium, and identify the best source of leads. many people received it versus opened it? How many clicked Ask for client feedback in meetings: What do you think about our to access the resources or link embedded within (responded email newsletter? How did you learn about us? to your call to action)? Who are these people and who is following up with them? How many meetings were set up as a result? How many prospects became clients? Consider the stop/start/continue framework in your evaluation What activities should we stop? Should we start? Should we continue? Ask yourself if you are getting the clients or referrals you were hoping for.

A Road Map to Integrated Marketing 18 Through Each Step of the Road Map, Drive Integration 1 Know Your Marketing integration unifies all of your communications and tactics in a coordinated approach Clients to provide a cohesive client experience. But what does that really mean?

Picture this: You write a blog post entitled "5 Tips for The benefits of integrated marketing go beyond 6 2 Raising Financially Savvy Teens" and you feature it enhancing the client experience and can include: Review and Strengthen Revise Your Story prominently on your website. You post links to it on • A greater likelihood that messages will reach their Facebook and LinkedIn. You include an extended intended audience, since multiple channels are used version in your client newsletter. You launch an email campaign for prospects with teenage children, • Consistency and clarity of message because content MARKETING including a link to the blog and the key takeaways, is repeated and reinforced across multiple channels and encourage them to share the blog with their INTEGRATION • that are elevated through ongoing, friends. You further nurture these leads by hosting a consistent messaging Raising Financially Savvy Teens event—sending the invitation to prospects and clients, and encouraging • Improved because the them to bring friends. You mention these pieces of campaign elements reinforce each other and you 5 3 content and the event in the opening of your next maximize usage of the same content Drive Create Your Engagement Plan webinar. You also post photos of the event on social • Fewer siloed activities and wasted resources media and your website, and recap the event’s because efforts are coordinated highlights.

That’s marketing integration. 4 Build Your Presence

A Road Map to Integrated Marketing 19 THE BAHNSEN GROUP Brian Tong Digital Marketing: A Case Study Director of Strategy and Communications

Marketing Integration from Soup to Nuts

The Bahnsen Group self-described “soup to nuts” approach Content is an area of intentional priority for the Bahnsen Even with such consistent discipline, Tong admits that they to digital marketing is constantly evolving. According to Brian Group, because “time and time again … our clients have said are always “grasping for the edges because everything keeps Tong, Director of Strategy and Communications at the it creates trust with them,” and because it feeds directly into changing.” Still, he insists it’s entirely worthwhile. Why? Bahnsen Group, the firm’s plan relies on “meeting our other parts of their digital marketing agenda. Tong said they Because when you “connect authentically” with clients and audience where they are.” For the Bahnsen Group, that crisp sometimes have up to 16 pieces of content circulating in one prospects, and they see who you are through your mantra entails being proactive across the spectrum of digital week, including blogs, podcasts, email campaigns, webinars, marketing, then you have a chance to over-deliver on what marketing tactics. Twitter and Instagram posts, and streaming media. they hoped they would find—and now you made a connection that you almost cannot sever.” Tong said the firm uses behavioral data to inform what tactics If one theme emanates from the Bahnsen Group’s practiced they choose, and then “every new data point from digital approach, it’s marketing integration. Tong explained: “You marketing feeds right back into the model.” And it’s an can put your content out on your website, on social media, in impressive model: They’ve employed social media, online and on third-party video platforms … but then also in and offline content, search engine optimization, search traditional marketing collateral and client engagement engine marketing, paid advertising, email campaigns, as well efforts.” as an impressive array of additional tactics that reinforce their objectives.

“You can put your content out on your website, on social media, in and on third-party video platforms … but then also in traditional marketing collateral and client engagement efforts.”

A Road Map to Integrated Marketing 20 In the next section of this ebook, we dive deeper into six digital marketing tactics. Adoption of these tactics will differ based on the needs of the firm and its clients, its overall marketing strategy, and the resources available. Leveraging the practical guidance and lessons learned by other firms can help you optimize your digital marketing efforts.

Social Digital Search Engine Online Email Websites Media Content Optimization Advertising Campaigns

A Road Map to Integrated Marketing 21 Endnotes: 1. The 2016 Fidelity Advisor Community Segmentation Study. 2. The 2019 Fidelity Financial Advisor Community—Digital Marketing Study. The 2019 Fidelity Financial Advisor Community—Digital Marketing Study. The Digital Marketing Study was an online blind survey (Fidelity not identified) and was fielded from June 10 through June 24, 2019. Participants included 474 advisors who manage or advise upon client assets either individually or as a team, and work primarily with individual investors. Advisor firm types included a mix of banks, independent broker-dealers, insurance companies, regional broker-dealers, RIAs, and national brokerage firms (commonly referred to as wirehouses), with findings weighted to reflect industry composition. The study was conducted by an independent firm not affiliated with Fidelity Investments.

A Road Map to Integrated Marketing 22 Connecting through Websites Your website should be viewed as your storefront: it provides the first impression to prospects and acts as the hub for your marketing activities.

23 Websites “Your brand has to be present We consider your website to be the most basic and essential element of your digital marketing strategy. It should even when your customers are be viewed as the central hub for all of your digital marketing activities. not with you. Their experience on your website helps accomplish that.” Your website is a fundamental asset in digital marketing. It is where prospects and clients learn about your brand, –CRYSTAL COOPER, products, services, and unique perspective. It allows you to share content, establish your firm personality, and DIRECTOR OF MARKETING AND COMMUNICATIONS, differentiate yourself from your competitors. It also provides metrics for an ongoing feedback mechanism. SIGNATUREFD People expect you to have a website that is updated, with easy activities to find, and that looks good on a phone, tablet, or computer. In the growing ROBO economy (research online, buy offline) your prospects will increasingly research your firm online before ever speaking to you personally—even when they are directly referred to you. Your website should make it easy for prospects to find you, to understand what services you provide, and to get to know you better.

Turn your website into a lead-generation tool. Nearly 40% of investors said they had a significantly more positive impression of advisors who have a good website.1 That number was higher for Gen XYZ investors at 53%.2

Connect through Websites 24 Websites: Best Practices As technology advances and your firm evolves you should revisit your site strategy: a refresh or redesign could be in order. A refresh might mean making cosmetic changes to the site—adding new site content or refreshing some images and copy. A redesign involves a full overhaul of a site (look/feel, content, architecture), and is more costly and labor intensive. If you have not meaningfully refreshed your site in 4+ years, you may want to consider a substantial redesign and ensure that the website is responsively designed to work on all devices.

Consider the following in your website launch, refresh, or redesign:

Capture attention right away. Showcase your brand. Highlight the client experience Keep navigation simple. Visitors can form an impression within Use your website, and particularly the and your capabilities. Visitors expect intuitive navigation with seconds of landing on your website, home page, to reinforce your brand Highlight the process you use to the ability to quickly find important so you need to engage them from the with a message and visuals that engage clients and explain what their information. Include a horizontal menu get-go. Use compelling visuals and resonate with your target audience. experience will be like, including at the top or vertical menu on the side. content. Present stories that visitors Include an “About Us” page with a images of reports or tools that you may can relate to that explain the issues concise and consistent overview of use. Be sure to describe the quality and you address. your firm, its history, and its mission, depth of services that you provide, and bios for all of your team members. including specific examples of how you Post articles, blogs, or videos featuring help your target clients. your firm’s perspectives and insights on a regular basis to drive traffic to your site.

Connect through Websites 25 Websites: Best Practices (cont’d)

Make it accessible. Include professional photos/non- Load quickly. Create opportunities for Courts are more frequently ruling stock images. Seek to optimize the speed your next steps. websites to be “places of public All team photos should be of high website’s home page takes to load. Include calls to action (CTAs) that accommodation” that are subject to Web quality and have a consistent look and Pages with a longer load time tend to drive prospects and clients to take Content Accessibility Guidelines 2.0.3 feel. Feature your office and team to have higher bounce rates and lower next steps (i.e., sign up for our Accessible design can also widen your help readers get to know you. time spent on the page. Load speed is newsletter, contact us, schedule an client base by attracting customers who especially important for mobile appointment, learn more). need assistive devices to use the web. devices. (Note: When someone One in five disabled investors say conducts a Google® search on any sensitivity to their family’s needs would device or browser, Google considers be a factor in choosing a new advisor.4 the page speed of the relevant Annually, your site should get an matches, and delivers a ranking bonus accessibility review to make sure all your to the speediest.) pages are still fully usable with assistive technology. Keep in mind that browser and media player updates can easily “break” the accessibility of a page, requiring small adjustments.

Connect through Websites 26 Websites: Best Practices (cont’d)

Make it easy to connect with you. Optimize for search. Incorporate client feedback. Every site should include a “Contact Us” form to capture All of the efforts to design an impactful website are When you embark on a redesign or refresh, consider potential leads. The page should include a map for lost if potential visitors cannot find you. Many factors seeking feedback from customers to test new visitors to your office, your address and phone number, affect SEO, including how your navigation is features, understand what they value today and what email address, and social media links. A “contact us” structured, the use of keywords relevant for your they would like to see or do on your website in the button on each page is another way to ensure that you audience, and load speed. Ensure the site appears future, or simply to make sure your website is usable are easy to reach. high on the list of results returned by a search and easy to navigate. engine. (See the chapter on SEO to learn more.)

Connect through Websites 27 Websites: Costs Creating or refreshing a website requires both time and money. You may decide that working with Advisors do not have to undertake site an experienced designer or agency will maximize results and minimize your time spent on the site. design or maintenance on their own. Beyond the agency fees, costs may include: There are many design firms, agencies, and marketing consultants that can help. Consider leveraging that help if this is • Purchasing a URL: New domains cost $10–15 annually, existing domains are typically $10-40 annually. not an area of interest or expertise, or • Securing a hosting service and covering web design and maintenance: depends on the your current client load does not allow complexity of your site and may be outsourced. You may expect to spend $150+ annually. for the necessary time commitment. • The cost for website design can vary greatly based on a multitude of factors, including the number of Fidelity can help you source consultants pages, complexity of the navigation, use of templates and photography, and the agency chosen, to to support you. name a few. The range extends from less than $10K for a minimalistic templated design to over six figures for a highly designed site. • Also consider that you may need to secure ongoing support to maintain your website.

Connect through Websites 28 “You should continually reevaluate it based on what’s happening with the company, the brand, and the industry. Your website is a living, breathing Websites: Getting Started thing that should evolve with your Most firms are already online. While over 2/3 of advisors say their website content is updated at brand, and grow with the business least monthly, perhaps you are in the 1 in 3 who update their content less often?5 How does your and be evaluated at least quarterly.” website stack up against your competition? –CRYSTAL COOPER, DIRECTOR OF MARKETING AND COMMUNICATIONS, SIGNATUREFD

Good start Even better • Website <3 years old • <2 years old and updated with current styling • Easy-to-find or memorable URL • Clear call to action on every page • Simple site navigation • Social media buttons visible on every page • Meets basic accessibility guidelines: intuitive keyboard navigation, • New content posted weekly or biweekly (e.g., blog, events, news) alt tags, and accessible media player • Fast loading times, breadcrumbs, powerful site search capability • Clearly differentiates your brand • Allow viewers to register for in-person events and webinars • New content posted quarterly or even monthly • Online scheduling tool to arrange an introductory meeting • Messages, images, and content appeal to your target audience • Incorporate interactive content (e.g., quiz, assessment tool, poll) to • Your value proposition is clearly articulated on the home page help with lead generation • Responsively designed (can be viewed effectively on any device) • “Contact Us” page with a form for site visitors to contact you

Connect through Websites 29 Websites: Metrics to Watch Site visits are the most common way to measure the success of your website, but you should also consider the quantity and quality of leads through your website. The benchmarks for success will vary based on your target audience. A large firm serving a metropolitan area will have different expectations than a small firm in a rural location. Review your website metrics monthly to establish benchmarks, and utilize the data to measure the impact of your site improvements and promotional efforts over time.

Common metrics include:

Unique visitors: first- Traffic source: recall Bounce rate: the Time spent on page: Pages viewed: helps Leads captured: time visitors to your site from road map the percentage of visitors helps you understand you understand which number of clients (as opposed to repeat types of traffic (direct, to your website that if visitors are engaged pages resonate with providing their contact or returning visitors) referred, organic, and navigate away from in the messaging and visitors information via your paid) the site after viewing content on your site website only one page (a high bounce rate means visitors are not engaged on your site)

Connect through Websites 30 SignatureFD Crystal Cooper Websites: A Case Study Director of Marketing and Communications

Using Your Website to Cultivate Community

SignatureFD is an Atlanta-based wealth management firm that takes client engagement to the next level with an The appealing design is only the appetizer. Cooper and her In the next phase of development, Cooper aims to dial up the interactive website designed to go “beyond function” to be colleagues elevate and amplify SignatureFD’s online interactive elements, with possible “choose your own “fantastic.” According to Crystal Cooper, Director of presence with a “two-pillar” approach to web content. The adventure” functionality and the addition of outside voices Marketing and Communication at SignatureFD, their clients first pillar is what Cooper calls “foundational content.” This from finance and beyond. Cooper says that like the client are coming to the site looking for more than just services— includes everything from estate planning checklists to journey, their website is not intended to ever be static—or "they want a meaningful experience that reflects the things educational articles on executive compensation and even fully finished: “Websites are a living, breathing thing they care about.” philanthropy. These evergreen pieces draw people to the site that should evolve with your brand and continue to grow with through search and smart use of SEO. The second pillar is the business.” That meaningful experience begins with look and feel. The where the SignatureFD website really shines. It features SignatureFD site resembles a lifestyle magazine—highly personal stories—lots of them. Cooper says the stories are visual with lush colors, original imagery, and headlines that meant to “frame others and their experiences” in a way that pack an emotional appeal. Built to be a destination site, the brings people together around “meaningful moments” and pages cater to communities of interest, including things that are important to them. entrepreneurs, women executives, and attorneys. In addition, the content is segmented into focus areas that connect meaning to wealth: grow, protect, give, and live.

“Websites are a living, breathing thing that should evolve with your brand and continue to grow with the business.”

Connect through Websites 31 Endnotes: 1. The 2016 Fidelity Investor Insights Study. 2. The 2019 Fidelity Investor Insights Study. 3. Web Content Accessibility Guidelines 2.0 (WCAG). 4. The 2018 Fidelity Investor Insights Study. 5. The 2016 Fidelity Advisor Community Online Strategy Study.

Connect through Websites 32 Making Connections with Social Media Your social media activities complement your website and provide an interactive connection point for clients and prospects.

33 “We are building on what Social Media we’ve learned from social media. We found what Social media is likely the most cost-efficient component of your digital marketing strategy. In fact, with works for us, and are using the time and resources needed to manage a website, some people argue that an active social media it to reinforce our other presence can replace a company website. We believe that your website and social media go hand in hand digital efforts.” in establishing your digital presence. You want to be where your customers already are, which is online. –LOU CAMACHO, PRESIDENT, STRATOS WEALTH ENTERPRISES If managed well, social media can reap multiple benefits: • Connect you with and help you learn more about existing clients • Reach new prospects—over two-thirds of advisors who engage in digital marketing believe that social media is an effective lead-generation tactic with millennial investors1 • Help establish your presence as a thought leader through unique new content • Enable you to share real-time news quickly and easily • Amplify search engine results—social media results often make their way to the top of the list • Provide a cost-effective tool for you to share content that reinforces your firm story and differentiators, showcases your expertise, and highlights your corporate culture • Deliver rapid feedback and results, along with findings you can leverage in other facets of your marketing strategy Over 3/4 of advisors engage in social media.1

Social media can be one of the pillars of your marketing strategy. Even though accounts are free, it still requires time, commitment, and a carefully conceived approach.

Making Connections with Social Media 34 58% of advisors who use Social Media: Usage LinkedIn believe it is effective at generating There are a multitude of platforms to choose from in establishing or growing your social media strategy. 1 Some are more common among financial advisors. qualified leads

Social Media Use by Financial Advisors—2016 and 20191 100% 90% 88% 80% 78% 71% 70% 55% of advisors who use social 60% 49% media view compliance issues 50% 44% 40% as the major hindrance to using 30% 1 30% 26% 25% it effectively. 20% 14% 10% 10% 10% 0% LinkedIn Facebook Twitter Instagram YouTube SnapChat Pinterest Tumblr Engage with your compliance officer 2016 2019 to plan your social media strategy.

With the exception of LinkedIn and Twitter, use of every platform was lower at RIA firms than BD firms.1

Making Connections with Social Media 35 Social Media: Best Practices Although each platform has distinct approaches, there are guidelines to consider across any social media platform you engage on:

Be intentional with your Complete your profile. Put a consistent strategy in Post relevant content. Increase visibility. Increase location. Decide which social Complete your firm social place. Create a plan and Ensure that your posts will the visibility of your social networks to join based on media profiles so that gain consensus on the resonate with your clients media posts in search results the types of messages you readers can get to know frequency, voice, and prospects. In addition by including pertinent facts will be communicating, your your firm. It is important to messaging, and format of to wealth management and keywords, including your intended audience, your time fill in each category, your social media posts. topics, share news on your website URL. and resources, and your including your location(s), This is especially important firm, viewpoints on industry overall objectives. It’s better website, industry, overview, if multiple people at the shifts, as well as lifestyle to be active in one channel and especially your contact firm will publish content and leisure topics that you where your ideal clients are details. Include your and when using different think will interest target than to be inactive on five company logo and a banner platforms. readers. Avoid using channels. image. industry jargon, buzzwords, or acronyms.

Making Connections with Social Media 36 Social Media: Best Practices (cont’d)

Be regular. Ensure that updates and Engage with your audience. Use a multimedia approach. Enlist associates to increase your posts are being added at least Encourage interaction by asking Photos, infographics, and videos reach. According to LinkedIn, content monthly and on an ongoing basis. readers to weigh in on trending attract attention to your social shared by employees has 2 times Use your content strategy to help topics through polls or questions. media pages. According to greater engagement versus content create your editorial calendar. Review Designate an individual at your firm LinkedIn, followers who engage shared by a company.4 Tools like metrics to understand what resonates to respond and interact online. with videos take twice as many LinkedIn’s Elevate make it easier for best with your audience. Respond quickly to comments on “amplification actions” (shares, you to create posts that associates your posts and professionally comments, etc.) as they do on non- can share. Regardless of how you address any negative feedback. video posts.2 Overall, relevant, high- approach this, create clear guidelines resolution photos reinforce your with your compliance team on what brand image and bring your firm to can be shared and by whom. life. Test different photos to see which ones your audience responds to. (Facebook® posts with images get 2.3 times as much engagement as those without images.)3

Making Connections with Social Media 37 “LinkedIn allows you to find out where the touch Social Media: Platform Considerations points are and market to Specific social media platforms have their own best practices for consideration. them if you choose to.” –BRIAN TONG, DIRECTOR OF STRATEGY AND COMMUNICATIONS, THE BAHNSEN GROUP LinkedIn Facebook • Encourage employees past and present to add your company • Many firms use Facebook to showcase their associates and to their personal profile page and follow it for updates. culture, and connect with clients or prospects on a more personal level. Create posts that will resonate with your targets on this • Use “pinned” updates to ensure that your most important platform by considering their average age, gender, and interests. content gets the spotlight on your company page. • Share content from other Facebook pages to link your business • Use your LinkedIn headline and banner image to promote with outside brands and experts. (Look for thought leaders in your brand statement, core marketing message, and client your industry with a sizable fan base. Sharing their posts value proposition. selectively can improve your social media visibility and help you • Add your LinkedIn profile URL to the bottom of your work gain exposure within a relevant community.) email signature line. • “Milestone” posts add a personal touch and encourage likes on • For additional cost, “InMails” is a private messaging service your Facebook page. that lets you send business and career opportunities directly • Use the “Timeline” feature to produce a digital scrapbook that to any LinkedIn user. It is part of their offering. tells the history of your firm. • Add a call-to-action (CTA) button to your page, such as “Watch a video” or “Contact us.”

Making Connections with Social Media 38 “… they all have their own nuances … this is really about Social Media: Platform Considerations putting out quality content Specific social media platforms have their own best practices for consideration. that works in multiple channels.” –LISA HAMAN, DIRECTOR OF MARKETING, ADVISER INVESTMENTS Twitter Instagram • Tweets should be concise and focused on one specific topic, • Use high-quality images to tell engaging stories. (Be sure to format rather than trying to communicate multiple ideas. Include a and size them appropriately.) link to a blog post or website if you have a longer message • Leverage tags to aid in search results. to convey. • Watch for day and time trends to understand when your audience • “Hashtags” are a powerful tool to expand your reach and is most likely to engage. join trending discussions. Focus on keywords that are relevant and specific to your business and don’t include • Encourage feedback and interactivity: ask a question or suggest more than two hashtags per tweet. topics for comments. • Tweet open-ended questions to elicit a response. • Retweet relevant content and reply to tweets to maintain a robust Twitter presence. When retweeting, include your own comment or question to spark more engagement among YouTube your followers. • Keep videos to less than two minutes whenever possible. • The life span of posts on Twitter is short, requiring more • Ensure captioning is visible to allow people to view videos in any setting. frequency than many other social sites. It’s important to • experiment with your Tweets to find what works best for Remember you are competing against entertaining content with the your firm. potential to go viral—make it interesting! • Understand the nuances of SEO on YouTube—with all video content, your captions and transcripts become very important.

Making Connections with Social Media 39 “We recently gained a multi-million dollar client Social Media: Getting Started who said that they came to You need to meet your audience where they are – and for many people, that means online and us because they liked what through social media. The social media channel you choose to use is less important than the action we wrote in a Tweet.” you take to create a consistent, enjoyable, and educational experience for clients and prospects. –BRIAN TONG, DIRECTOR, STRATEGY & COMMUNICATIONS, THE BAHNSEN GROUP

Good start Even better • Ensure your firms’ account on LinkedIn is current. Establish an • Post to each account weekly—or even daily (more than half account on another social media platform frequented by your of advisors using social media post weekly, and 10% of them clients (e.g., Facebook) post daily1) • Post to each account biweekly or monthly using text and images, • Incorporate videos, infographics, polls, questions, and other consistently across platforms tactics that increase engagement • Regularly post commentary to relevant third-party articles • Build a presence on YouTube, Instagram, or other channel • Experiment with different content, formats, and mediums to see • Experiment with live streaming (e.g., Facebook Live) what resonates with your audience • Boost your posts to increase the audience you are reaching • Use tracking tools (like 77% of those using social media do1) to (see online advertising chapter) monitor social media activity

Making Connections with Social Media 40 Social Media: Metrics to Watch Measuring performance on social media generally relates to reactions and interest from your network of advisors, employees, professional and personal connections, clients, and prospects.

Common KPIs include …

Connections: the number of Likes: the positive reaction you Shares and retweets: a personal Comments: people responding people in your network, or receive on your content on recommendation for your firm to your post or message, often followers on your page. Facebook and other social based on someone in your with feedback or their own platforms. network sharing your content related thoughts on the topic. (Likes increase based on with their connections. While you hope for positive engaging/topical content, as comments, you need to be people gravitate toward ideas cognizant of and ready to that are trending.) respond to negative comments.

Making Connections with Social Media 41 Adviser Investments Lisa Hamann Social Media: A Case Study Marketing Director

Northeast advisory firm leverages social media for multiple benefits

Lisa Hamann, Marketing Director of Adviser Investments, says the Massachusetts-based firm For lead generation as well as brand building, the firm uses social media to share photos of approaches social media proactively, with dual objectives. The first goal is lead-generation. their associates volunteering in the community, and highlights of recent industry awards Hamann says the process begins with financial planning checklists, investment tips, and posts they’ve won, including Pension & Investment’s “Best Places to Work in Money Management.” on social security benefits. “With relevant posts, we’re able to put them out initially and then According to Hamann, “If the firm receives a positive mention in the press, we post the link repurpose them in other social media channels as a way to give people information they want and include the journalist’s Twitter handle. In part, it's about building relationships with the while we generate leads.” The second goal is brand building. “Our executives and advisors are media.” At the same time, Hamann said, “a lot of our active presence on social media is experts, so getting their voices out there on social media to promote their process is a great focused on sharing ideas and updates that will appeal to clients and leads.” way to communicate their expertise.” As part of that, the firm features thought leadership, including clips of their associates speaking on cable news programs and a recent article in Barron’s, profiling a firm leader.

“Our executives and advisors are experts, so getting their voices out there on social media to promote their process is a great way to communicate their expertise.”

Making Connections with Social Media 42 Endnotes: 1. The 2019 Fidelity Financial Advisor Community—Digital Marketing Study. 2. LinkedIn Company & Followers Playbook, posted on SlideShare, January 17, 2013. 3. How to Use Visual Content to Drive More Traffic to Your Blog, BuzzSumo, May 20, 2015. 4. The Official Guide to Employee Advocacy, LinkedIn. The 2019 Fidelity Financial Advisor Community—Digital Marketing Study. The Digital Marketing Study was an online blind survey (Fidelity not identified) and was fielded from June 10 through June 24, 2019. Participants included 474 advisors who manage or advise upon client assets either individually or as a team, and work primarily with individual investors. Advisor firm types included a mix of banks, independent broker-dealers, insurance companies, regional broker-dealers, RIAs, and national brokerage firms (commonly referred to as wirehouses), with findings weighted to reflect industry composition. The study was conducted by an independent firm not affiliated with Fidelity Investments.

Making Connections with Social Media 43 Digital Content to Drive Deeper Connections Digital content that is fresh, unique, and representative of your brand can attract visitors and keep them coming back.

44 “We create a lot of content, because it is the one thing that, Digital Content time and time again, our clients Just having a website or a social media account is not enough—you need content to bring them to life. said took them the final mile and According to the Content Marketing Institute, “content marketing” “is a marketing technique of creating led them to engage with us.” and distributing valuable, relevant, and consistent content to attract and acquire a clearly defined ––BRIAN TONG, DIRECTOR OF 1 STRATEGY AND COMMUNICATIONS, audience—with the objective of driving profitable customer action.” Content marketing can include both THE BAHNSEN GROUP online content like blogs and videos and offline content like books and printed papers.

Digital content is any content marketing that is delivered online via Nearly 2/3 of advisors websites, social media, email, or any produce digital content2 application or mobile device.

Digital content can help accomplish many of your marketing objectives: Digital content will not translate • Communicating your perspective into relationships overnight, but in • Increasing brand awareness and driving brand loyalty time it can grow to be a critical • Differentiating you from your competition vehicle to help transform • Enhancing the client experience through “edutainment” prospects into clients. • Keeping you “top of mind” among prospects • Positioning you as a thought leader, enhancing your reputation, and driving greater recognition

Digital Content to Drive Deeper Connections 45 Key recommendation: Digital Content: Develop Your Content Strategy Utilize an editorial calendar You can create and publish content as often It’s tempting to dive in and start creating content, but take the time to document a simple content as you like as long as it is consistent. Utilize strategy first. A documented content strategy across both traditional and digital content can ensure an editorial calendar to help stay on track. that all content ties together for a seamless reader experience. Create a schedule that works for your team, and stick with it. As your audience grows, so Elements of a content strategy will their expectations: They will take notice if you stop “showing up.” Audience segments you are trying to reach Topics you want to cover Which format is best for each segment, and how you will diversify formats across topics and time Not enough time to develop content? Consider outsourcing the writing of your Channels that will be used to showcase the content. Remember: you can repurpose content in different content to a third party, but ensure your channels, but keep your website as your central content hub. voice, your personality, and your messages The best author or subject matter expert for each topic, including co-authors are well represented. You may also purchase content from third-party content Which content will be offline, which will be online, and which may be both providers. The material will not be unique or How you will manage your library of content and retire pieces as needed authentic to your firm, and may not have as much impact as a piece authored by your Performance measures to be used—may differ by channel people, but it may help to fill content gaps. Which resources and timeline you will assign to content overall, and to each piece

Digital Content to Drive Deeper Connections 46 Formats used by Advisors

Client case studies 14% Digital Content: Formats Podcasts 15% To meet the needs of your audience, it’s important to create a range of outputs that are effective across audiences, channels, contexts, and campaigns. Your choice of content format from the list Blog(s) 19% below will be determined by those factors as well as your budget, timing, and resources.

Videos 32% Article: Short-form text-based content with some Webinar: Online seminars or events designed to share graphics, typically posted on a website but can also be information with attendees in return for their contact printed for events and meetings. Length can vary, but information. Webinars 34% note that shorter lengths may impact opportunities for Poll: Online surveys that can quickly boost engagement keywords. Non-market-related and drive insights for your firm. 39% Blog post: Short online text-based entries with a single white papers or articles Podcast: Interview or narrative-based audio for a time- author. Length varies (as do the opinions on the optimal poor audience. The podcast explosion is real: Edison Market commentaries or investment- length); test different lengths with your audience to find 58% research indicates that over half of the U.S. population related articles/white papers the right fit. Typically easy to produce depending on has listened to at least one podcast, and that 1 in 3 length and use of data/graphics. Can increase traffic to Americans listen to a podcast at least once per month.3 Newsletters 66% your website when SEO is effectively used. There have also been gains in adoption by the older Image: A single image in a blog or social media post generations previously reluctant to adopt: now 17% of provides an opportunity for rapid consumption and people over 55 listen to a monthly podcast.4 sharing via social media. While some research indicates that podcasts Video: Can be animated infographics or live video and videos may be the preferred format of the Infographic: Short, graphic-led, digestible insights, content. Video is rising to become the king of content: usually one page in length and printable. Cisco reports that 82% of all traffic will be video by 2022.5 future, you should experiment to learn what works best for your audience.

Digital Content to Drive Deeper Connections 47 Digital Content: Before You Publish… Content marketing requires an “audience-first” editorial perspective that introduces clients to your brand and its solutions, boosting favorability and interest. To successfully deliver on this mission, consider asking yourself the following questions before pushing “publish” on a new piece of content:

• Alignment: Does the piece align with your strategic initiatives and marketing goals? How • Value to the audience: The degree to which the topic helps you retain existing clients, grow will your offline and online content interact or build upon each other? share of wallet, attract referrals, or get the attention of prospects. Does it: – Encourage the reader to think in a new way about their investments and financial life? • Authenticity: Is the content true to the your brand? – Go beyond data points to provide insights? • Attention-grabbing: Is the content something your audience will want to read and share? – Bring concrete examples and case studies? Does it have a catchy headline or the ability to “go viral”? Humor and references to pop culture can be helpful here. – Offer takeaways and next steps that are actionable? – Encourage the reader to discuss it with colleagues and, ideally, share it with their network? • Resonance: Is there client or target audience demand for this topic or theme? • Differentiation: Does the topic allow you to competitively distinguish your firm in the field? • Point of view: Are you able to articulate a point of view in a way that is authentic versus “salesy”? Do you have the information you need to authoritatively speak about the topic?

At times you may publish content that does not answer all of these questions—that is OK! Revisit this list often, but don’t let perfection get in the way of publishing.

Digital Content to Drive Deeper Connections 48 Digital Content: Moving Past Overwhelm Creating and managing digital content may sound daunting when your time is compressed. Here are some facts about content marketing and strategies to overcome them:

Employ an editorial calendar to plan content in advance, keep track of messaging 2 in 5 advisors working with digital content indicate they update their and formats. Produce content en masse when possible and leverage Centers of 2 website content at least weekly. Influence or other reputable sources for other content.

A survey from Content Marketing Institute found that the most successful Your biggest cost in creating content is your time. Distribute authorship across marketers spend 40% of their marketing budget on content marketing.6 your team and leverage outside editors to ensure consistency in tone.

Consider leveraging your content in multiple places/formats to maximize reach and Content overload will continue to be a challenge for readers: there is minimize resources to develop it. You can write a blog post, share it on social media, so much content online that only the most compelling messages and and include it in your newsletter. You can repeat your messages with less editorial innovative content will be truly effective. efforts and get better traction in getting your message across.

Make it your initial goal to produce content that represents your voice at regular Content is critical to search engine optimization and keeping visitors intervals. Keep your initial expectations low—your personal network may be your coming back to your site. early readers—but have faith it will expand.

Start slow and build up your efforts. Don’t give up early and miss the opportunity.

Digital Content to Drive Deeper Connections 49 “Be prepared (but not deterred) that for a long time it may only be your personal Digital Content: Getting Started network that reads your content. Don’t give up: It only takes one You don’t need a big budget and a degree in journalism to create quality content that resonates client to get your audience with your customers. Start small, build on your capabilities, and remember to be consistent. rolling.” ––BRIAN TONG, DIRECTOR OF STRATEGY AND COMMUNICATIONS, THE BAHNSEN GROUP

Good start Even better • Publish articles or other content (text, photos, video, etc.) at least • Publishing content weekly (or even daily) on your website and social monthly to your website, using proprietary or third-party sources media—focusing primarily on proprietary content • Post the content on your social media channels to drive traffic and • Leverage more advanced video and graphic production capabilities, engagement including professional photography • Review metrics and feedback to make changes to future content • Create content campaigns around themes such as time of year (e.g., back-to-school, tax season) • Regularly review your published content to assess what needs to be refreshed or retired • Invite your center of influence or other influencers to write guest blogs/articles for you, and offer to do the same for them • Repurpose offline content to help build your library of online content • Find a local cause you can support and share your experience working with them • Leverage news stories to start an online conversation or publish content with the implications for your clients

Digital Content to Drive Deeper Connections 50 STRATOS WEALTH ENTERPRISES Lou Camacho Digital Content: A Case Study President

Midwest RIA tested different content approaches before settling on podcasts

When Stratos Wealth Enterprises began using digital “We wanted to do something different, something with our Today, they release a new 30- to 45-minute episode every marketing, their initial challenge was determining what own unique spin,” Camacho told us. Ultimately, they went other week, promoted on their website and through email content would engage their audience—in their case, financial with a laid-back interview format, featuring guests from the campaigns, and posted on the major podcast platforms. And advisors. They started posting on Twitter and LinkedIn, and wealth management industry. They ended each session on a the podcasts have created significant business opportunities they found out fast that the lighter topics are what helped set high note—with karaoke. The first episode closed with a for the firm, Camacho says. People reach out to Stratos after them apart and create real connections. Lou Camacho, spirited rendition of Barry Manilow’s “Copacabana.” The listening, in part because they “have a message and a Strato’s President, said that it was the “engaging content” result? They received about 150+ phone calls or emails after medium that plays very well” to their audience. about “Jessica’s crazy travel schedule” and other relatable that episode alone. “Nothing we’ve done before has ever pieces that received the most clicks. generated the same level of interest,” Camacho said. They continued to experiment, and before long Stratos found the key ingredient in their content marketing secret sauce: podcasts.

“We wanted to do something different, something with our own unique spin.”

Digital Content to Drive Deeper Connections 51 Endnotes: 1. Content Marketing Institute, “What is Content Marketing?” Article. 2. The 2019 Fidelity Financial Advisor Community—Digital Marketing Study. 3. Edison Research: The Podcast Consumer 2019 Research. 4. Edison Research The Infinite Dial 2019. 5. Cisco Visual Networking Index: Forecast and Trends, 2017–2022 White Paper. 6. Content Marketing Institute, B2B Content Marketing: 2018 Benchmarks, Budgets, and Trends—North America. The 2019 Fidelity Financial Advisor Community—Digital Marketing Study. The Digital Marketing Study was an online blind survey (Fidelity not identified) and was fielded from June 10 through June 24, 2019. Participants included 474 advisors who manage or advise upon client assets either individually or as a team, and work primarily with individual investors. Advisor firm types included a mix of banks, independent broker-dealers, insurance companies, regional broker-dealers, RIAs, and national brokerage firms (commonly referred to as wirehouses), with findings weighted to reflect industry composition. The study was conducted by an independent firm not affiliated with Fidelity Investments.

Digital Content to Drive Deeper Connections 52 Expanding Connections with Search Engine Optimization Optimizing your placement in search engine results can drive more visitors to your site and social media accounts, giving an opportunity for prospects to find you.

53 “Want to know my go-to-market strategy? I’m Search Engine Optimization (SEO) going to beat my local competitor at SEO so that You’ve established a digital presence with a current website and social media accounts. prospects find me first.” You are publishing content that educates and entertains your audience. Now you need to make sure people can find you. –RIA ADVISOR IN THE MIDWEST

While the financial advisor relationship is a very personal one, your prospects and clients are highly likely to have researched you and your firm online before ever meeting you in person (even when they have a personal referral). They may look up information online by conducting queries on search engines such as Google. These search engines use complex algorithms to determine which web pages to include and the order in which they will appear in search results.

SEO includes everything you do to help your firm appear in search engine queries. Ideally, you want to appear in the top of the list of results to attract more visitors, especially prospects. (For more information on Search Engine Marketing, please see the chapter on Online Advertising.) By optimizing your website for search engine results, you drive more traffic to your site. (Recall the four sources of web traffic: direct, referred, organic, and paid. SEO drives both organic and referred traffic to your site.)

The more traffic you drive to your site, the more chances you have to convert prospects into clients. In addition to driving more traffic, SEO has additional benefits: • Drives higher-quality traffic by targeting specific people 35% of advisors 1 • Builds brand credibility with appearances at the top of search results engage in SEO • Can position you against the competition

Expanding Connections with Search Engine Optimization 54 SEO: Types There are three different types of SEO:

On-page SEO relates to the content on your Technical SEO Unlike copy, technical SEO is not Off-page SEO are the actions you take outside website (on-page SEO can be physically seen by read on your site by visitors. your site to help improve SEO results. visitors on the site itself). Technical SEO includes metadata, the HTML code It includes connections to other pages and sites, In addition to ensuring you have accurate and that works behind the scenes in search engine notably through links back to your own website. Links enticing copy, images, and videos that are interesting results. Metadata is not copy that is visible to site that point to your site from other reputable sites will to visitors, it includes optimizing the keywords and visitors and can include the title and description of help algorithms deem your site as high quality and tags you use. your site. Technical SEO also includes the measures useful. you take to ensure your site functions well, including readability to allow search engines to comb your content efficiently, and the user experience so that your site is deemed worthy of ranking.

Nearly 30% of advisors who engage in digital marketing believe that SEO Consider which type of SEO may be most important and feasible strategies are effective at generating leads with Gen X and Y audiences.1 for your firm at this time. Research where you are today, and then consider what may allow you to rise in the rankings.

Expanding Connections with Search Engine Optimization 55 SEO: Measures Metrics across the three types of SEO should be reviewed in a comprehensive SEO strategy.

On-page SEO metrics Technical SEO metrics Off-page SEO metrics Bounce rate: percentage of viewers who leave a Page load time: average amount of time it takes to Backlinks: quality of links from other reputable sites website after viewing only one page load pages on your screen to your site Time spent per session: how much time people Mobile friendliness: ensure that your site is mobile- Submissions to third-party sites spend reading your content friendly Comments on blogs or social media Rankings: words or phrases that describe the Ease of navigation: complexity of pages, use of contents of a page; they can drive rankings that can internal links be viewed via your analytics Duplication issues: content and duplication of META Mobile rankings: mobile version of search rankings elements

Expanding Connections with Search Engine Optimization 56 SEO: Best Practices Search Engine Optimization sounds technical, but you can accomplish a lot with a few simple practices. Consider the following:

Create search-worthy content. Use strong keywords. Manage your metadata. Use strong headlines, compelling copy, and include Using keywords that are relevant to your ideal Google and other search engines use meta tags within keywords and phrases that accurately describe your searcher’s intentions helps you to land at the top of a HTML to classify your site. While proper meta tags can business. Give attention to your most important web search. As you build your keyword strategy, consider usually be accomplished through your site’s content pages, “Home,” “About Us,” “Products and the relevant combinations of words and phrases management system, it is important to be certain you Services,” and “Contact Us.” Just as important, don’t prospects could enter into a search engine (e.g., the are properly managing key metadata, including titles, overload your pages with extraneous keywords or challenges your clients are trying to solve or the captions, and descriptions. content. In general, create content that is high questions that are top of mind). Keyword Planner by quality and relevant to your target audience and Google Ads is an easy tool you can use to strengthen focus on writing naturally. your list. Using “long-tail keywords” may yield better results, because the users typing them may have a better understanding of what they are seeking and fewer competitors may be employing them. Also use a strong primary keyword in your page’s META title, and use the same or similar primary keyword in your primary page heading and throughout your body copy. This gives the search engines indication to what the page is about.

Expanding Connections with Search Engine Optimization 57 SEO: Best Practices (cont’d)

Be social. Make it easy to be found. Use links wisely. Capitalize on your social media presence by posting At a minimum, claim your business profile on Google Include links to high-quality websites with related and interacting on social media regularly. Allow My Business and verify that all the information is industry content to show search engines that your site readers to share your content directly on social correct. Do the same on other local directories, is connected to the wider digital ecosystem. Consider media from your site with direct links. Positioning including Yelp!, CitySearch, and Yellowpages.com. links to relevant content authored by your COIs on yourself as an authority and building your name as a This step not only helps you move up on results, but it their sites. Also, remember to include links within your thought leader in your space goes a long way to also lists your business in Google Maps results and blog entries and web pages to help readers navigate generating search momentum and driving traffic. puts your contact information on-screen. around your site. Remember to check frequently that all of your links continue to work.

Remember: Work closely with your compliance officer to ensure you are working within applicable laws, rules, and regulations.

Expanding Connections with Search Engine Optimization 58 While SEO can seem intimidating or technical, it has become easier in recent SEO: Getting Started years. It does require ongoing action to keep SEO is an extremely cost-effective way to bring visitors to your site. It maximizes the effectiveness up with changes in the algorithms. of the work you have already done to ensure you start seeing returns through leads. Tip: Consider working with external SEO consultants or web designers to keep abreast of changes and remain on top of the work.

Good start Even better • Simple website navigation with clear URLs, page titles, and structure • Leverage Keyword Planner by Google or other keyword tools • Use internal links to support navigation to your other pages • Leverage Google Search Console to obtain Google’s perspective on • No 404 pages: these pages won’t be indexed and disrupt your client the health of your site experience • Use a keyword ranking tool to see where you rank against • Eliminate duplicate titles or content to avoid confusing search competitors engines • Update keywords semiannually (or even quarterly) • Also avoid similarly themed content e.g., (5 ways to save money / • Leverage meta descriptions–30% of advisors who use SEO use how to save money) them1–(meta titles should be under 60 characters, meta descriptions • Curated, unique, and link-worthy content that attracts your audience under 160 characters) • Use keywords – nearly 3/4 of RIA firms who use SEO include high- • Author guest blogs on meaningful, related sites value keywords in their website copy1 • Work to increase the speed of your website • Use alt tags to provide text alternatives for images • Create your site map and submit to search engine tools • Claim your business profile on Google My Business • Review metrics monthly, including use of ranking tools to check your • Watch your competitors to learn what is working for them ranking frequently

Expanding Connections with Search Engine Optimization 59 REHMANN Ron Knipping SEO: A Case Study Principal

The story of comprehensive services as told through SEO1

Beginning in 1941 as a single accounting firm in Saginaw, Michigan, Rehmann has evolved into a synergistic collection of financial, advisory, and consulting services for high-net-worth individuals and families, while also providing investment services and 401(k) administration for businesses. Rehmann Principal Ron Knipping said that they are “obsessed with proactive planning toward client solutions.” The firm has physical offices in Michigan, Florida, and Ohio, but they attract many key clients, nationwide, online. How do they manage that? Rehmann’s focus is on digital marketing, with SEO and search engine marketing as critical components of their savvy strategy. “We have some very large clients that have come through the website by the SEO that we put into place,” Knipping told us. “Search is the way of the future, and we know that this part of our strategy is crucial.” Knipping said that best practices, such as having a mobile-friendly site with high-caliber content and an excellent user experience, help them remain visible in organic search and also remain highly relevant and appealing to a broad range of existing clients.

“Search is the way of the future, and we know that this part of our strategy is crucial.”

Expanding Connections with Search Engine Optimization 60 Endnotes: 1. The 2019 Fidelity Financial Advisor Community—Digital Marketing Study The 2019 Fidelity Financial Advisor Community—Digital Marketing Study. The Digital Marketing Study was an online blind survey (Fidelity not identified) and was fielded from June 10th through June 24th, 2019. Participants included 474 advisors who manage or advise upon client assets either individually or as a team, and work primarily with individual investors. Advisor firm types included a mix of banks, independent broker-dealers, insurance companies, regional broker- dealers, RIAs, and national brokerage firms (commonly referred to as wirehouses), with findings weighted to reflect industry composition. The study was conducted by an independent firm not affiliated with Fidelity Investments.

Expanding Connections with Search Engine Optimization 61 Using Online Advertising to Amplify Connections Expand the opportunities for prospects to learn about your brand and messaging by engaging in advertising online.

62 Online Advertising After laying the foundation of a solid website experience, social presence, and content strategy, and ensuring visibility through SEO, you can expand your focus to include online advertising.

There are generally Traditional advertising Online advertising two types of advertising: Traditional advertising includes the promotional strategies used Online advertising leverages the internet, mobile phones, display traditional and online. before the advent of the internet and mobile phones. Channels advertising, and any other digital medium. Channels include can include print, radio/television, direct mail, and outdoor. websites, social media, and search engine advertising.

Benefit Has a long track record and recognition with customers Two-way communication with customers

One-directional so less opportunity for interaction with clients; more As with traditional, there is considerable competition for share of voice and Drawbacks expensive how to “stand out.”

Both used equally 52% of advisors use traditional advertising1 52% of advisors use online advertising1

Similar effectiveness 36% of advisors who use it believe it is effective1 33% of advisors who use it believe it is effective1 at generating leads

Using Online Advertising to Amplify Connections 63 Online Advertising Online advertising can provide benefits above and beyond those from traditional advertising channels. You can create a positive compounding effect with a combination of traditional and Online advertising works like traditional advertising, in that it can attract prospects and keep you top of online advertising vs. only one mind among existing clients. Both work around the clock while you’re out building relationships, and there or the other. They can work in are multiple mediums from which to choose. But online advertising also has its own distinct benefits. It: tandem; e.g., search results may increase if you run a printed ad. • Helps establish brand identity by bringing your value • Enables more precision and targeting by reaching proposition/firm story in front of your target audience audiences with specific interests or attributes, or living in where they are. a distinct location.

• Provides quick feedback via data analytics, allowing • Is flexible in nature, with the ability to promote content you to pivot your strategy and test different messages or brand message across platforms. and formats to optimize effectiveness. • Can capture potential leads through unique ad units. • Is typically more cost effective than traditional. • Helps you to stay top of mind for visitors to your website through re-targeting.

Using Online Advertising to Amplify Connections 64 Online Advertising: Setting Goals and a Measurement Plan To determine the best mix of tactics to employ with paid online advertising, there are key inputs to address to best set yourself up for success. Examples are shown below.

Objective Target Messaging Tactic Success What are you trying to What are you saying, and Which tactic(s) achieves your objective accomplish with your Who are you trying what do you want them to by delivering the message to your How will you measure campaign? to reach specifically? do as a result? target within your budget? performance and optimize? A firm recently expanded Affluent, small business The advertising will A combination of: Business success defined as leads/ in new markets and needs to build owners, given the unique promote the content that pre-advertising and post-campaign. Additional metrics to • (promoting various awareness in new markets. offering the firm provides. the firm created for small inform ongoing optimizations: quotes within the white paper) with a business owners, • publication in the new target markets LinkedIn video shares, comments, completed views including a white paper (which clip is best) • and a video that lives on campaign on LinkedIn that includes • Native ad click-through rate to see which quote works the firm’s website. the quotes plus clips of a video hosted on your website • Website traffic, sources • Inbound leads

Common KPIs & Metrics for paid online advertising include: Click-Through Rate to see which ad garners the highest percentage of clicks to impressions or number of times an ad is shown Landing Zone Visits to identify which ad is driving the most traffic to your site Brand Studies surveys commissioned by media or research partners to gauge consumer perception

Using Online Advertising to Amplify Connections 65 Online Advertising: Types 37% of firms who engage in online There are many different types of online advertising advertising use SEM.1

Search engine marketing (SEM) Social media advertising Includes advertising on search engines. SEM results Social media sites offer multiple opportunities to Social media ads are appear above SEO results in search queries. The traffic advertise. The tactics are always changing so check the No. 2 choice for from SEO is organic; the traffic from SEM is paid. You can with your account for the latest ad offerings. advisors who engage think of SEM as a hybrid of both SEO and online • LinkedIn offers “Follow Ads” that can help attract the in online advertising.1 advertising. specific audiences you are trying to reach. • Sponsored InMail through LinkedIn enables firms to send personalized messages (InMail) to targeted audiences on LinkedIn. The cost of Sponsored InMail depends on the number of targets you would like to reach. • LinkedIn Lead Gen helps you capture quality leads by pre-filling forms (name, email address, title, etc.) when someone clicks on your ad or call-to-action button. • Facebook “Boosting” (with the Boost Post button) allows you to pay to instantly promote your content.

Using Online Advertising to Amplify Connections 66 Online Advertising: Types Display advertising is the No. 1 choice for There are many different types of online advertising advisors who engage in online advertising.1 Video Native advertising Programmatic The most engaging and TV-like Appears within a web page on a Ads that appear on websites experience, often purchased as third-party site. It looks like based on algorithms, an example pre-roll (before content), mid-roll editorial content but is a paid ad. being retargeting users who have (during), or post-roll (after the visited your site to reengage content) images but does not show (banners and native). up in search engine results.

Using Online Advertising to Amplify Connections 67 Online Advertising: Cost How online advertising is sold

While the models are continually evolving, there are several ways you can pay for online ads:

Pay-per-click (PPC): Cost per impression Fixed cost: pay a flat Cost per action (CPA): Cost per lead (CPL): Cost per view (CPV): you only pay when a (CPI): pay by the fee no matter how you pay for people to pay for predetermined pay for only the user clicks on your ad number of times the many times it is take a specific action number of leads or by completed video views, ad is displayed to viewed or clicked on like visit your landing individual lead or a portion (three visitors, known as zone seconds or more) impressions

Online advertising can be relatively simple and cost effective. For instance, a simple Facebook ad can be launched for as little as $10. You can use the tools provided by LinkedIn and Facebook to design, preview, and launch your ad.

For more complex campaigns, you can develop content yourself, or work with an agency to help develop a standout ad campaign.

Using Online Advertising to Amplify Connections 68 Online Advertising: Best Practices Whether you decide to engage in paid search, display ads, or another type of online advertising, Types of websites used for online ads1 success begins with a few very simple but important elements. Consider these practices:

Travel & leisure 21% Choose the best venue Identify the most Test multiple messages productive time Think back to what you know about Try different formats, venues, Sports 30% your current and target customer. Think strategically about when times of day/week/year. Learn What social media platforms are your targets are typically online. what works best for you and News 46% they using? What types of websites Once you have that key focus on creating content that are they visiting? What are their information, develop a strategy gets your target to click. Consider interests, their professions? to reach them when they are starting small with a paid ad on Investment 52% active on these platforms. (See social media, see what results the case study for an example of you yield, and expand your Business 57% how a local RIA tweaked their efforts from there. approach to align with these findings.) Financial services 66%

Using Online Advertising to Amplify Connections 69 Online Advertising: Best Practices (cont’d)

Consider your user’s end-to-end experience Be responsive Select a performance indicator Ensure that wherever your ad drives to [landing No matter the type of online ads you choose, Depending on your advertising channel, you may choose different page or content] the messaging is consistent, your response time can make or break your metrics: seamless, and satisfying for the reader. success. Whenever you receive a positive • Consider those in the chapter on websites: traffic (paid vs. other response, reply as quickly as possible. types), bounce rates, time spent on page, pages viewed; and the advertising metrics mentioned earlier (Setting Goals & Measurement Plan). • Impressions: the number of times ads have appeared in paid search ads. • Leads captured. • Amount spent: measured as cost per click, cost per acquisition, or return on advertising (RoA), which is the total revenue divided by the total cost of the ad campaign.

Using Online Advertising to Amplify Connections 70 “My advice would be to try Google ads. You might not do Online Advertising: Getting Started it perfectly but just do it. You Online advertising will only be as effective as the depth of knowledge you have of your clients, and the don't have to figure everything approach you choose will be unique to your firm. While the examples below can help you get started, knowing out to make it work initially.” your target prospects’ interests and preferences is the real key to identifying your firm’s best practices. –-STEPHEN DYGOS, FOUNDING PRINCIPAL, SDWIA

Good start Even better • Determine what should/could be handled in-house vs. outsourced to an agency • Expand learning agenda to 4-6 experiments per year • Shore up SEM (search engine marketing) as baseline for maximum “findability” • Explore creative ad copy testing in search before using paid display banners • Identify a learning agenda and measurement plan to test at least two ad • Expand budget to pilot new formats and platforms (video, podcasts/streaming audio) experiments per year • Develop strong relationships with top performing key media partners/publishers, • Leverage assets (ad creative) derived from owned content especially in local outlets • Leverage company accounts on social platforms for paid targeted campaigns. • Leverage those relationships to create customized packages that include online For example, boosted posts on Facebook and LinkedIn. advertising and events/sponsorships/email/etc.

Remember: Work closely with your compliance officer to ensure you are working within applicable laws, rules, and regulations.

Using Online Advertising to Amplify Connections 71 SCHWARZ DYGOS WHEELER INVESTMENT ADVISORS LLC Online Advertising: A Case Study Stephen J. Dygos Founding Principal

Minneapolis advisory firm goes old-school via the desktop1

According to Stephen J. Dygos, founding principal, Schwarz Dygos Wheeler Investment Advisors LLC (SDWIA), “Google Ads was something we decided to focus on and become really good at, instead of dabbling in multiple things.” They hired a consultant to help them learn the space, drive visibility, and generate leads. Why? As a number of firms told us, options like Google are relatively easy, cost effective, and offer an opportunity to track results. Beginning with a budget of about $500 a month, SDWIA got started and was able to determine pretty quickly what worked for them: • Timing and location: You can target ads by time of day and by location, or use their map feature to select specific areas you want to reach. SDWIA settled on a fairly simple formula for local ads: “During the day, we do most of our advertising in downtown Minneapolis. At night, we add in the suburbs.” • Channel: Do you want to direct ads to desktops, mobile devices, or both? SDWIA discovered that the conventional wisdom didn’t work for them. “Everybody thinks they should be advertising on mobile, but we weren't getting the click-throughs there. Whereas, we surprisingly get a lot more responses on the desktop side.” Focusing on Google ads gave SDWIA a higher click-through rate than other venues and delivered leads—including three that were converted into clients last year. The bottom line? Dygos told us: “The revenue more than makes up for the cost.”

“The revenue more than makes up for the cost.”

Using Online Advertising to Amplify Connections 72 Endnotes: 1. The 2019 Fidelity Financial Advisor Community—Digital Marketing Study The 2019 Fidelity Financial Advisor Community—Digital Marketing Study. The Digital Marketing Study was an online blind survey (Fidelity not identified) and was fielded from June 10th through June 24th, 2019. Participants included 474 advisors who manage or advise upon client assets either individually or as a team, and work primarily with individual investors. Advisor firm types included a mix of banks, independent broker-dealers, insurance companies, regional broker- dealers, RIAs, and national brokerage firms (commonly referred to as wirehouses), with findings weighted to reflect industry composition. The study was conducted by an independent firm not affiliated with Fidelity Investments.

Using Online Advertising to Amplify Connections 73 How Email Campaigns Reinforce Connections Leverage your connections to deliver valuable content and brand messaging through email.

74 “One of our advisors didn‘t believe in email marketing. We asked him to trust us and give it a try for a couple of months. By the six-month mark, he was a believer. In Email Campaigns that time, he heard back from 88 people, and 1/4 of them were clients he hadn‘t Email campaigns are an essential tactic because they are simple, effective, and can support spoken to in years. A simple email all of your other digital marketing efforts. campaign helped him resurrect those Email campaigns use email messages to promote your business and connect with customers. Think of this tactic relationships—which is incredible.” like traditional direct mail, but without the printing and postage. As basic as that sounds, email campaigns pack some powerful benefits for firms that position it at the center of their digital marketing strategy. –SUSAN THEDER, CHIEF MARKETING OFFICER, ADVISOR GROUP, INC. Email campaigns are…

• Established: While new social platforms continue to come and go, email as a communication channel is evergreen, entrenched, and ubiquitous. • Cost effective: One survey found that emails had a median ROI of 122%—more than four times higher than other marketing formats examined in the study.1 • Flexible: Email reaches consumers on 60% of advisors 60% of advisors who use their desktop, mobile devices, and anywhere else they receive and read engage in email email marketing rank it in email. Compared to other platforms (e.g., marketing2 their top 3 for lead- Twitter, Facebook), email has few space generation activities2 constraints and can easily incorporate multiple images and elements.

How Email Campaigns Reinforce Connections 75 “Email marketing is a basic tool, but it’s pivotal. We have a whole Email Campaigns financial planning series that we Email campaigns are easy to undervalue, but the benefits are big and beyond dispute. send out as part of our email campaigns. What’s really great is that we are able to repackage that Myths Reality same content and use it in our blogs and social media campaigns.” It’s innovative. Email campaigns are more innovative than ever. Firms can use customer –CRYSTAL COOPER, DIRECTOR OF It’s old school data and email automation to personalize the content, copy, recipient, sender, and MARKETING AND COMMUNICATION, follow-up communications. SIGNATUREFD

It’s versatile. The content you create for email campaigns can be repurposed and It’s static posted on your website, re-used in webinars and blogs, and re-formatted for tweets and social media posts.

It’s essential. We would argue that most firms should utilize email campaigns as a pivotal tactic. While it is relevant for engaging with most clients, it is especially effective It’s discretionary for connecting with older generations: 51% of advisors who engage in digital marketing say that email campaigns are effective for generating leads among baby boomers (which is on par with how events fare with boomers).2

How Email Campaigns Reinforce Connections 76 Email Campaigns: Best Practices Email campaigns are only effective if your target audience reads your email. Here are best practices for consideration for effective email campaigns:

Know your audience. Create content they will want Build a sense of urgency. Personalize it. The best way to get people to open your to share. Create calls to action in the copy of the Send emails that address your clients by email is to send them the content they Use an engaging subject line to capture email or in the subject line by emphasizing name (e.g., Dear Jane). Go a step further want to read. Choose topics you know the reader’s imagination, write about a special offers or reminding readers of time by personalizing the content within to the your target readers are interested in and topic that your target clients will want to constraints like tax season or retirement specific recipient, so that it feels even more send at a time of day when you know they read and share with their friends or planning. In general, keep subject lines bespoke. Use CRM software to customize are online. Consider segmenting your colleagues, and utilize images and video short, and test different subject lines and email greetings and recognize milestones audience and select email topics elements to hold their attention. Creativity, calls to action to learn what drives the such as birthdays and anniversaries. accordingly. humor, and relevancy can make your highest open rate and click-through rate. Remember, your results will be better if content stand out and be something that you are using data that is “clean” (i.e., readers want to send to others. correct email addresses and client information with no duplication). As a general rule, avoid sending blast emails that are irrelevant to the audience.

How Email Campaigns Reinforce Connections 77 “If I had to give one piece of advice for email marketing I Email Campaigns: Best Practices (cont’d) would say ‘think carefully about the subject line.’ Make it engaging and keep it relevant.” Manage timing. Ensure continuity. Rely on metrics. Allow for opt-out. –SUSAN THEDER, Sending emails at regular Ensure that your email Ask for feedback periodically. Always provide a link within CHIEF MARKETING OFFICER, intervals creates expectations, messages connect to other Find the right cadence for the email that allows a reader ADVISOR GROUP, INC. and builds campaign content you have created, frequency and stick to it. to unsubscribe. Watch the momentum. Be careful not to both online and offline. Measure success and make results for trends. inundate your audience; use adjustment by tracking your editorial calendar to deliverability, open rates, manage timing and ensure click-through rate, conversion integration with other content. rate, bounce rate, list growth rate, and unsubscribe rate.

How Email Campaigns Reinforce Connections 78 Fidelity research showed that Email Campaigns: Getting Started the average open rate for Email is a great place to experiment—use metrics to see what works and then switch things up. advisor email marketing is Consider increasing your frequency over time. 27% and the average click- through rate is 16%.2

Good start Even better • Send monthly email newsletter to clients and prospects • Optimize emails for mobile reading—test on yourself first • Repurpose email content in blogs and social posts • Leverage online tools to help you test and improve your email subject lines • Personalize greeting and send individualized email at birthdays, anniversaries, or special occasions • Test different subject lines and topics to understand what resonates • Include a link to allow readers to forward the email or share it in • Create a metrics dashboard and set specific goals around open rate, social media forward rate, and conversion rate. • Utilize an editorial calendar for consistency • Vary content to include video and images • Avoid using “no reply” in the email address and provide opportunity • Segment your client and prospect lists and send emails customized to opt out for each group • Monitor the metrics and make adjustments to increase readership • Devise a plan to email clients and prospects with a regular cadence and with targeted/segmented messages • Create a process to regularly clean your contact list • Give subscribers options for their email frequency

How Email Campaigns Reinforce Connections 79 ADVISOR GROUP, INC. Susan Theder Email Campaigns: A Case Study Chief Marketing Officer

Make it simple, yet strategic

Susan Theder, chief marketing officer at Advisor Group, Inc., Email campaigns “absolutely continue to be a powerful • Make it relevant. Theder stresses the importance of says her team’s objective is to be the authority on marketing medium for the advisors and firms in our network,” Theder customizing campaigns based on client needs and “so their advisors can focus on what they are exceptional at— said. While they typically see open rates upward of 60% on interests. She suggests varying tone, subject matter, and financial planning and managing client relationships.” email newsletters, and sometimes north of that when an even the length and frequency of emails, to suit each client Advisor Group is one of the largest networks of broker- email features a video, Theder is quick to acknowledge that or client segment. “The more one-to-one it is, the more dealers in the United States. While each firm has a unique these results are conditional. As such, she suggests a few likely it is to have an impact, “she said. culture and history, the Advisor Group structure allows firms effective methods employed by Advisor Group: Theder believes that email campaigns are a core element of to enjoy “state-of-the-art technologies and broad-based • Make it easy: Theder and her team maintain a content a larger digital marketing strategy. “Regardless of whether operational support.” And a major part of that support is library of compliance-approved pieces that advisors pull you create an email campaign or post a video on social giving advisors access to sophisticated and effective from, adapting them to suit their needs instead of creating media, it drives traffic back to the website and creates marketing strategies and best practices—including email them from scratch. They also leverage marketing consistent touch points with clients, month after month.” campaigns. automation software to make the email process as turnkey as possible.

“The more one-to-one it is, the more likely it is to have an impact.”

How Email Campaigns Reinforce Connections 80 Endnotes: 1. Data Marketing and Analytics (DMA) and Demand Metric, “DMA 2016 Response Rate Report,” July 28, 2016. 2. The 2019 Fidelity Financial Advisor Community—Digital Marketing Study. The 2019 Fidelity Financial Advisor Community—Digital Marketing Study. The Digital Marketing Study was an online blind survey (Fidelity not identified) and was fielded from June 10th through June 24th, 2019. Participants included 474 advisors who manage or advise upon client assets either individually or as a team, and work primarily with individual investors. Advisor firm types included a mix of banks, independent broker-dealers, insurance companies, regional broker- dealers, RIAs, and national brokerage firms (commonly referred to as wirehouses), with findings weighted to reflect industry composition. The study was conducted by an independent firm not affiliated with Fidelity Investments.

How Email Campaigns Reinforce Connections 81 Dive In: A Checklist for Digital Marketing Use this checklist to dive into digital marketing and to understand the steps needed to adopt digital tactics

82 “The advisors who are good at digital marketing make a commitment to it. They carve out some time Diving into Digital Marketing and they are consistent in their efforts.” Whether you are new to digital marketing, advanced marketers, or advisors trying to carve out –SUSAN THEDER, time to engage in digital marketing, there are many approaches to getting results. CHIEF MARKETING OFFICER, ADVISOR GROUP, INC.

If you are working within Focus first on establishing your digital presence with a website and social media a limited budget … accounts. Ensure you use keywords and metadata so that your target clients can find you, and slowly work toward a regular content publishing cadence.

If you are constrained by limited time Consider outsourcing some or all of your marketing, but be sure to stay closely or interest to work on marketing … involved to ensure your voice and messages are represented. Do not market someone else’s idea of your firm story.

If you are an advanced marketer Invest your time in keeping educated on advances in digital marketing, including search with an established audience … algorithms, advertising techniques, and industry benchmarks. Don’t be afraid to work outside the box and try new things.

Our best marketing 1. Start where you can. Use the following checklist to assess your firm’s readiness guidance for anyone 2. Learn from your efforts. for implementation of the digital marketing tactics. in financial advisory 3. Adjust your approach. services is: 4. Repeat.

Dive In: A Checklist for Digital Marketing 83 Implementation Checklist: Following the Road Map

Strongly Neither Agree Strongly Disagree Nor Disagree Agree 1 2 3 4 5 6 7 Identify Your Target We know the demographics of our ideal clients (marital status, work status, gender, children, location, etc.).

We know our target clients’ interests and preferences, including the websites they visit, the social media sites they use, and the publications they read.

We know what our target clients care about, including their goals, concerns, and key life events.

We use client segmentation to better understand the needs of clients and prospects.

Strengthen Your Story We have a unique and compelling story to tell about our brand and history.

We have evaluated how our firm story can be improved and honed it to better capture the attention of our target clients.

Our firm story communicates our core purpose and unique approach, as well as our target audience and how they benefit by working with us.

Our firm story is represented in our marketing materials and evident in how we communicate with clients.

Dive In: A Checklist for Digital Marketing 84 Implementation Checklist: Following the Road Map

Strongly Neither Agree Strongly Disagree Nor Disagree Agree 1 2 3 4 5 6 7 Create Your Plan We have documented our strategic objectives for digital marketing (e.g., attracting prospective clients, cultivating referrals, deepening share of wallet, and attracting advisor talent).

We have created a digital marketing plan that includes specific goals, metrics, timing, and owners.

We use specific metrics that can be easily monitored and viewed on a dashboard (email open rates, likes/shares, and website traffic) and set clear benchmarks for performance.

We revise and refresh our digital marketing plan quarterly, based on what has worked/not worked for us.

Build Your Presence We have a website that is updated, high quality, and responsively designed (to work well on all devices).

Our website contains updated content targeted for our ideal clients and prospects and clear calls to action.

We regularly engage with clients on social media, including LinkedIn, and we choose social media platforms based on the preferences of our target clients.

We refresh our website periodically, and frequently refine our messaging and social media approach to be more relevant to clients’ needs and preferences.

Dive In: A Checklist for Digital Marketing 85 Implementation Checklist: Following the Road Map

Strongly Neither Agree Strongly Disagree Nor Disagree Agree 1 2 3 4 5 6 7 Drive Engagement We respond quickly when people connect through the web and reach out to us on social media, and deal with negative comments swiftly in a polite and professional way.

We include our website URL on all printed collateral, online collateral, and traditional advertising.

We leverage email campaigns with active links to drive traffic to our website or social medial channels.

We create and publish our own content regularly, ensuring that it’s optimized for search engines.

We co-create content with outside authors and influencers, and/or publish content on external sites that link back to ours.

We have optimized our website for SEO, making it easier for prospects and clients to find us.

We invest in advertising on search engines, social media sites, business or local publications, and/or relevant lifestyle sites

Review and Revise We assess campaigns swiftly upon their completion and make adjustments based on metrics.

We test different tactics around message, channel, and timing to see what works best for us.

We solicit feedback to determine what content and messaging resonate with clients and what approach generates referrals.

We end campaign activities that are not working and focus on approaches that deliver the results we are looking for.

Dive In: A Checklist for Digital Marketing 86 Implementation Checklist: Digital Marketing Tactics

Strongly Neither Agree Strongly Disagree Nor Disagree Agree 1 2 3 4 5 6 7 Websites Our website showcases our brand, our thought leadership, and our people through compelling copy, content, and high-quality, authentic images. Our website highlights who we work with and what it’s like to work with us—emphasizing the depth of our services, the technology and processes we use, and the ways in which we engage with our clients. Our website makes it easy for prospects to reach us with our location, phone number, email address, and a “contact us” form to capture potential leads.

Our website contains regularly updated, multimedia content that is relevant for our target clients, and reinforces our brand. Our website includes social media buttons and calls to action (CTAs) that drive prospects and clients to take next steps (i.e., newsletter signup, contact us, schedule an appointment). Our website meets basic accessibility guidelines, such as intuitive keyboard navigation, alt tags, and accessible media player.

Social Media We maintain active company pages on LinkedIn and other channels relevant to our target audience.

We post to each account at least monthly using text, images, and video—and post content in the format, style, and tone that is appropriate for each channel.

We have a social media calendar to ensure that appropriate content and updates are being added at regular intervals in support of our marketing goals.

We use tracking tools to monitor our social media activity and regularly review the data to improve our approach.

We use a compliance-approved strategy for firm leaders and associates to share posts and updates and be active on social media.

Dive In: A Checklist for Digital Marketing 87 Implementation Checklist: Digital Marketing Tactics

Strongly Neither Agree Strongly Disagree Nor Disagree Agree 1 2 3 4 5 6 7 Digital Content We have a clear strategy across both traditional and digital content to ensure that all content has a consistent point of view and ties together for a seamless reader experience.

We utilize an editorial calendar to help us plan content in advance, keep track of messaging, and post at regular intervals.

We experiment with content in multiple formats, including blogs, photos and images, videos, infographics, podcasts, webinars, and polls.

We create catchy headlines and relevant content, invite comments/shares, and use calls to action to engage our audience.

We vary our content types from evergreen, educational checklists to thought leadership, including original insights and guest articles.

We look for ways to repurpose content on multiple platforms.

Dive In: A Checklist for Digital Marketing 88 Implementation Checklist: Digital Marketing Tactics

Strongly Neither Agree Strongly Disagree Nor Disagree Agree 1 2 3 4 5 6 7 SEO Our website is easy for prospects to find with strong keywords; effective meta tags, titles, captions and descriptions within HTML; and a rapid load speed.

Our site does not suffer from broken links, 404 pages, or duplicate/similar content.

We post search-worthy content that is high quality and relevant to our target audience. We post and interact on social media regularly and allow our audience to share content via direct links.

We only use links to high-quality websites that are relevant for our audience.

We have claimed our business profile on Google My Business and verified that all the information is correct, and we have done the same on other local directories.

We regularly leverage analytics tools to gain perspective on the health of our site and use keyword ranking tools to see where we rank against competitors.

Dive In: A Checklist for Digital Marketing 89 Implementation Checklist: Digital Marketing Tactics

Strongly Neither Agree Strongly Disagree Nor Disagree Agree 1 2 3 4 5 6 7 Online Advertising We identify a learning agenda and measurement plan to test at least two experiments per year, setting a clear objective and determining the most appropriate tactics.

We optimized our approach to paid search to make it easy for prospects and clients to find us.

We have experimented with several types of ads (pay-per-click, sponsored content, sponsored InMail on LinkedIn, Boosted Posts on Facebook), and created multiple versions of ads to see which performs best for us.

We place online ads in the venues we know our clients frequent and during the times of day when they are online.

We use metrics and KPIs (impressions, click-through, visitors, bounce rate, page views, etc.) to measure performance of our online ads.

When we receive a positive response to our ad, we move fast to reply, reach out, or make contact.

Email Campaigns We take time to understand the audience for our email campaigns and determine messaging and topics that will resonate with them.

We write headlines and subject lines that are crisp and catchy to make it more likely that our email is opened and read.

Our emails include a clear call to action (Sign up, Learn more, Call us, etc.) and offer next steps that invite readers to follow up.

We test different subject lines, calls to action, and copy to see which messages drive the most engagement.

Dive In: A Checklist for Digital Marketing 90 Resources to Get Started In this section, you will find additional resources to support your digital marketing efforts: a sample marketing plan, glossary and list of other Fidelity resources.

91 Marketing Plan Template

Consider the following template to Before you complete this template, spend time on the document your firm’s overall following activities to help ensure your success: marketing plan for the year, including your digital marketing strategy. • Aligning your marketing plan with your overall business plan for the year • Identifying your target audience(s)

• Honing your firm story, value proposition, and core messages

• Socializing your plans with key stakeholders

• Confirming your budget and resources

Resources to Help Get Started 92 Marketing Plan Template

Goals & Objectives: Insert 3–5 overarching goals or objectives – for example: Budget

• Develop a COI network and strategy Item Spend • Create a thought leadership program to showcase our expertise Events $X

Content & Communications $X

SEM/Online Advertising $X Success Metrics: Insert specific KPIs/metrics to measure the success of your efforts, for example: Consultant/Agency $X • Acquire XX new leads per month Marketing Technology/ $X • Increase website traffic by XX% and website leads by XX% Website

Total $X

Examples are for illustrative purposes only.

Resources to Help Get Started 93 Marketing Plan Template

Goal Key Initiatives & Activities Owner Budget Q1 Q2 Q3 Q4

Insert goal/ Insert initiative name Insert lead Insert Identify planned activity for Identify planned activity for Identify planned activity for Identify planned activity for this objective name budget this quarter this quarter this quarter quarter from prior page here

COI COI strategy A. Adams $X • Create prospective COI • Develop one joint event with • Develop one joint event • Develop one joint event with Strategy target list (Jan) top COI (Apr-Jun) with top COI (Jul-Sep) top COI (Oct-Dec) • Conduct introductory • Develop measurement plan • Continue measurement • Evaluate results and plan for meetings, ID three targets (Jun) plan next year (Feb-Mar)

Thought Create editorial calendar J. Smith $X • Create editorial calendar • Develop/distribute second • Develop/distribute third • Develop/distribute fourth Leadership and publish content (Jan) article article article • Develop one thought • Measure results • Measure results • Review metrics and plan for leadership article, and next year deploy to existing client base via all channels

Write and publish ebook L. Jenkins $X • Develop outline and begin • Finish writing • Edit and finalize content • Launch ebook for small business owners writing • Develop plan • Put in layout • Execute promotion plan • Finalize design/layout • Begin promotion plan

Examples are for illustrative purposes only.

Resources to Help Get Started 94 Marketing Plan Template

Key Initiatives & Q1 Q2 Q3 Q4 Activities Detail Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Insert activity name • Insert from prior page activity or milestone Create editorial • Define • Write • Publish • Review • Write • Publish • Review • Write • Publish • Write • Publish • Review calendar and publish editorial article article results article article results article article article article results content calendar • Review • Plan for results next year

Examples are for illustrative purposes only.

Resources to Help Get Started 95 Glossary A–F

Article Short-form text-based content with some graphics, typically posted on a website but can also be printed for events and meetings. Backlinks A link from another website to your website. Blog post Short online text-based entries with a single author. Bounce rate Percentage of viewers who leave a website after viewing only one page. Call to action The action you want your reader or listener to take. Comments Responses to your post or message on your site or social media. Connections Number of people in your network; includes followers on your page. Cost per action (CPA) Online advertising payment form; pay only for people who take a specific action (i.e., visiting your website). Cost per impression (CPI) Online advertising payment form; pay for the number of times the ad is displayed to visitors, known as impressions. Cost per lead (CPL) Online advertising payment form: pay for pre-determined number of leads or by individual lead. Cost per view (CPV) Online advertising payment form: pay for only the completed of video views, or a portion (i.e. > three seconds). Digital content Content marketing that is delivered online via websites, social media, email, or any application or mobile device. Direct traffic Visitors that enter your site by typing your URL into a web browser. Ease of navigation The ease of navigation for visitors to your site, including complexity of pages, use of internal links. Editorial calendar A publishing schedule to help plan your message, format, timing of your content. Fixed cost Online advertising payment form: pay a flat fee no matter how many times item is viewed or clicked.

Resources to Help Get Started 96 Glossary I–P

Image A photo or graphic typically used in a blog or social media. Infographic Short, graphic-led, digestible insights, usually one page in length and printable. Leads People providing their contact information via your website who may eventually become a client. Likes Positive affirmations received on content on Facebook and other social platforms. Part of Technical SEO; includes the title and description you assign to your site in HTML code that works behind the scenes in search engine results. It differs from the copy Metadata visible to all visitors to your site. Mobile friendliness Ability to view site on mobile devices (site should resize appropriately). Mobile rankings Mobile version of search rankings. Native ad Appears within a web page on a third-party site that looks like editorial content but is a paid ad. Off-page SEO Actions taken outside of the site to improve SEO results. Online advertising leverages the internet, mobile phones, display advertising, and any other digital medium. Channels include websites, social media, and search engine Online advertising advertising. On-page SEO Content on a website that can be physically seen by visitors on the site itself. Organic traffic Visitors that find a site by conducting a search on a search engine. Page load time Average amount of time it takes to load web pages on the screen. Page views Total number of times a piece of content is viewed. Unique page views are the total number of page views by the same user during the same session. Paid traffic Visitors that find a site as a result of paid advertising efforts on social media, websites, or search engines. Pay-per-click Online advertising payment form: only pay when a user clicks on the ad. Podcast Interview or narrative-based audio for a time-poor audience. Poll Online surveys used to gather audience input. Programmatic ad Ads that appear on websites based on algorithms, i.e., retargeting users who have visited your site.

Resources to Help Get Started 97 Glossary R–W Ranking The position of a website in search engine results (aka search ranking). Referred traffic Visitors that access a site through external links on partner sites or via outside content. Search engine marketing (SEM) Advertising on search engines; results in paid traffic. SEM results appear above SEO results in search queries. Search engine optimization (SEO) Everything done to improve results/rankings in search engine queries. Shares and retweets When social media users distribute your content through their social media network. Social media advertising Advertising on social media; results in paid traffic. Technical SEO Unlike copy, technical SEO is not read on your site by visitors, but pertains to site functionality and coding. Time spent on page Average length of time visitors viewed specific pages or screens. Time spent per session Total length of time visitors viewed specific pages or screens; stops counting at beginning of last page read. Traditional advertising includes the promotional strategies used before the advent of the internet and mobile phones. Channels can include print, radio/television, direct mail, Traditional advertising and outdoor. Traffic source Visitors to your website. Unique visitors First-time visitors to your site (as opposed to repeat or returning visitors). Can be animated infographics or live video content. The most engaging and TV-like experience, often purchased as pre-roll (before content), mid-roll, (during) or post-roll (after Video the content). Webinar Online seminars or events designed to share information with attendees in return for their contact information.

Resources to Help Get Started 98 Additional Resources As you proceed with your digital marketing strategy, please be sure to explore additional resources from Fidelity that can help you implement or further enhance your approach.

On-Demand Resources

• Putting Public Relations to Work for Your Firm • Creating a Consistent Story for Clients and Prospects • Own Your Space: The Case for a Differentiated Marketing Strategy • A Business Development and Marketing Planning Toolkit

For more information contact your Fidelity representative.

Resources to Help Get Started 99 For investment professional use only. Information provided in this document is for informational and educational purposes only. To the extent any investment information in this material is deemed to be a recommendation, it is not meant to be impartial investment advice or advice in a fiduciary capacity and is not intended to be used as a primary basis for you or your client’s investment decisions. Fidelity and its representatives may have a conflict of interest in the products or services mentioned in this material because they have a financial interest in them, and receive compensation, directly or indirectly, in connection with the management, and/or servicing of these products or services, including Fidelity funds, certain third-party funds and products, and certain investment services. The third parties referenced herein are independent companies and are not affiliated with Fidelity Investments. Listing them does not suggest a recommendation or endorsement by Fidelity Investments. Fidelity Institutional® provides investment products through Fidelity Distributors Company LLC; clearing, custody, or other brokerage services through National Financial Services LLC or Fidelity Brokerage Services LLC (Members NYSE, SIPC); and institutional advisory services through Fidelity Institutional Wealth Adviser LLC. ©2021 FMR LLC. All rights reserved. 905904.1.2 1.9888573.102

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