What does traditional media mean to you?
I googled the phrase “traditional media,” and the answer it gave was… TV, radio, newspaper, cold calling, and fliers. All of these things seemed outdated to me because, on average, people spend about 2.5 hours a day watching TV, we average about 1.5 hours a day listening to radio, and newspapers are read by just 12% of the population…
Meanwhile over 𝟵𝟬% 𝗼𝗳 𝘁𝗵𝗲 𝗽𝗼𝗽𝘂𝗹𝗮𝘁𝗶𝗼𝗻 𝗶𝘀 𝗼𝗻𝗹𝗶𝗻𝗲 and they spend about 𝟲.𝟱 𝗵𝗼𝘂𝗿𝘀 𝗲𝗮𝗰𝗵 𝗱𝗮𝘆 engaging with it.
It’s pretty clear that 𝗱𝗶𝗴𝗶𝘁𝗮𝗹 𝗶𝘀 𝘁𝗿𝗮𝗱𝗶𝘁𝗶𝗼𝗻𝗮𝗹 𝗺𝗲𝗱𝗶𝗮. We work with financial advisories and institutions and, news flash, it’s time to embrace the fact that digital IS traditional media and everything else is just old.
And as someone who spent 20 years in “the traditional media world,” I can tell you that digital is much more cost effective, it gives you amazing data, there’s a lot less clutter, AND in the end, you can generate a lot more leads.
I have two questions to the financial world… Why do you know so little about digital marketing? And why aren’t you embracing the reality of what’s right in front of us?
Here are the 𝗳𝗼𝘂𝗿 𝗺𝗼𝘀𝘁 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝗱𝗶𝗴𝗶𝘁𝗮𝗹 𝗲𝗹𝗲𝗺𝗲𝗻𝘁𝘀 that everyone in the financial services world NEEDS to embrace if you expect to get the market share you think you deserve.
#1: Website
Your website is your storefront. It’s your business; be proud of it! Invest in a good one and give people a reason to come back and engage with it. Your website is the thing that all prospects will see before they talk to you.
#2: Content
The fact is, participating in digital media requires A LOT of content. There is no way around the fact that all online platforms require a bunch of useful information that can help let people know what you’re all about. Embrace the fact that creating content is necessary for YOUR firm if you want to be competitive.
#3: Digital Leads via Digital Means
The content that you create will fill your funnel with messaging and be used in organic free social posts (like this one), in paid ads, and on your site… And ultimately will be the reason why people will want to connect with you.
#4: Nurturing
Online leads are perishable. So you need to nurture them consistently with meaningful content until they’re ready to do business. We love email and text marketing for nurturing. It’s a way to stay in front of people easily. You should also know that we convert all financial leads to appointments about 12% of the time. That might not seem like a lot to you, but it has made our clients wildly successful. Plus…it’s just how data works.
This is the world that we live in. No one masters any of these things, and you’ll always be learning and growing. But remember that 𝘁𝗵𝗶𝘀 𝗶𝘀 𝘁𝗿𝗮𝗱𝗶𝘁𝗶𝗼𝗻𝗮𝗹 𝗺𝗲𝗱𝗶𝗮. It’s the media of today and these are the platforms that will allow you to grow tomorrow.
About the Author: John grew up in Schenectady, NY & received a scholarship to Norwich Academy. He began his broadcast management career at WOR, learning spoken word marketing from the best in the business with a specialty in financial and long form. John managed broadcast sales for some of the best known sports teams in the world, at the most legendary stations. However his true passion is in the world of direct response advertising to baby boomers and their parents. In this space he has worked with some of the best brands in America. John lives in Boston with his wife, Melissa who is also a broadcast executive, and French Bulldogs Lou and Sal.
