Think offer, not pitch, with mobile ad messages

Advisers will eventually need a mobile strategy as part of digital marketing

Jul 28, 2014 @ 1:12 pm

By Liz Skinner

+ Zoom

Financial advisers should be thinking about what they can offer the wealthy woman sitting in bed at 10 p.m. searching “best city to retire” or the stressed out executive googling “should I rollover my 401k?”

Mobile advertising provides a great opportunity for advisers to land directly in the lives of prospective customers when financial issues are in the forefront of their mind, such as when searching for solutions on their smartphones or iPads between work responsibilities or in the evenings.

Ads on Facebook, Pandora and other online sites and applications can be tightly tailored to target certain demographics, preferences or even uses in a certain zip code. The tone, however, needs to be more than a sales pitch, experts said.

Ads on Facebook, Pandora and other online sites and applications can be tightly tailored to target certain demographics, preferences or even uses in a certain zip code. The tone, however, needs to be more than a sales pitch, experts said.

The message advisers deliver through a mobile ad should offer a tangible solution as opposed to a service promise, according to Angel Gonzalez, cofounder of Leads4Advisors, which helps advisers plan mobile advertising strategies.

The ad should provide a link to a branded white paper, financial guide or something else of value, he suggested.

“We tell advisers not to be sales-y or pitchy in their ads,” Mr. Gonzalez said. “Don't jump into online advertising and approach it like a billboard; instead provide utility or value.”

As more people use mobile devices more often to search content and buy goods, the market for mobile advertising spending has ballooned.

Mobile advertising spending is predicted to reach about $18 billion globally this year, according to a report by Gartner Inc., in January. That would be a 37% jump from the estimated $13.1 billion spent last year. The report estimates $41.9 billion in mobile ad spending by 2017.

Display ads make up most of the spending, though video is predicted to show the highest growth, the report said.

Stephanie Sammons, founder and chief executive of Wired Advisor, said at some point she expects all advisers will need a mobile ad strategy to have an effective digital marketing plan. But she's unsure how quickly it will come.

“That could be a year from now, or it could be five years from now,” she said.

Ms. Sammons agreed that advisers need to make their online offers “compelling” or the campaign could be a dud. Ads should be tested on a small scale to see what resonates most with people, she explained.

“I know some advisers who have created awesome offers and run ads with strategic focus and they've had zero results,” she said.

Effective campaigns — those that result in a large number of prospects being driven to an adviser's website or other content — can be expensive and once they are stopped, the leads and traffic cease, Ms. Sammons said.

Campaigns that run on social networks like Facebook should be preceded by efforts to build up the number of fans or followers of the adviser in those networks, she said.

Advertising on mobile devices can potentially be more effective than other online ads for advisers because many parameters can be used and layered to reach the right audience, according to Jon Nolz, vice president of product management for Hipcricket, a mobile marketing company.

“You are providing a targeted advertisement at the right time on the right device to the right person,” he said.

That could mean, for instance, creating an ad campaign for an advisory firm that would be delivered to a certain type of investor only when the stock market has fallen a set amount in a day, he said.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Upcoming Event

Oct 11

Conference

Fall Excell—Peak Advisor Alliance

The InvestmentNews Research team will present exclusive data and highlights from its bellwether benchmarking study that will identify best practices for setting and structuring compensation and benefits packages throughout your organization.... Learn more

Featured video

Consuelo Mack WealthTrack

Thomas Russo: What it really takes to be a successful investor

Being a successful investor requires the ability to say no and the capacity to suffer, according to Thomas Russo, managing member of Gardner Russo & Gardner.

Video Spotlight

Are Your Clients Prepared For Market Downturns?

Sponsored by Prudential

Video Spotlight

Path to growth

Video Spotlight

Path to growth

Latest news & opinion

Top 10 financial firms ranked by investor satisfaction

Find out which firm took the top slot for overall investor satisfaction for the second year in a row.

What not to say to clients when the markets drop

Here's what advisers should steer clear of saying the next time stocks turn downward.

SEC bars former rep for alleged share price manipulation

George Thoreson tried to keep penny stock's price high to enable Nasdaq listing.

Nevada fiduciary law raises concerns among retirement professionals, brokerage industry

Critics complain that it conflicts with ERISA and SEC rules and has potential to spur other states to pass their own version of a fiduciary rule.

Broker-dealers and RIAs at loggerheads over fiduciary rule delay

Companies and groups weighing in with comment letters have vastly different viewpoints on the delay's potential impact.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print