Many financial advisors who are just getting started with their digital marketing often ask, “How often should I email my database?” Like most things in life, there’s no definitive answer. However, there a general rules that should be adhered to. In this post, I look at ‘How often should financial advisors email their database’?
Don’t email too much
Want to know the main reason people unsubscribe from email lists? They receive too many emails. The second most popular reason? The content isn’t relevant to them.
Oversharing makes your marketing less effective by lowering your open and click-through rates and increasing your unsubscribe rate.
Email is an extremely powerful marketing and lead generation tool, but, when used incorrectly, it can be a huge disaster—and can quickly destroy a list you’ve spent years building and nurturing.
How to improve your email marketing efforts
Step 1: Segment Your Email Lists
You’d be surprised at how many advisors have all of their subscribers lumped into one email list. This makes it extremely difficult to create a marketing message that truly resonates with them.
For most advisors, splitting your list between prospects and clients is enough to create a more tailored marketing message.
But depending on your specialty and the size of your list, it may be beneficial to sub-segment even further based on your clients’ occupation or life cycle (e.g., early-career, married with kids, pre-retirement).
Step 2: Define Your Email Marketing Objective
An email marketing objective explains why you’re sending out emails. You’ll typically have a different marketing objective for each of your segmented lists, but there will also be some overlap.
For example, the main objective for all your email lists is to keep you top of mind and position you as a go-to expert in your niche. But past that, your marketing objective will vary depending on your audience.
For prospects, your main marketing objective is to nurture new leads and convert them into clients. Because of this, you may send emails that encourage them to take the next step.
The key is to be mindful of your target audience. Before you send out an email, ask yourself if they’ll find it relevant. If the answer is no, it’s probably not worth sending.
Step 3: Send High-Value Content
A lot of advisors send emails for the sake of sending emails. They send the same old emails to everyone on their list regardless of whether it’s relevant or not. For more on email value, read this post.
Step 4: Be Consistent
Above all else, be consistent with your email marketing. Consistency is the key to establishing trust online. If you need help sticking to a schedule, create a marketing calendar to help hold you accountable.
Step 5: Always Be on the Hunt for New Leads
I’ve got some bad news for you…if you’re not consistently growing your email list, then it’s probably shrinking due to unsubscribes.
Each week you should be looking for ways to grow your email list as a financial advisor. Some common ways to do this:
- Ask for referrals.
- Add a call to action to the bottom of your website and blog posts that encourages readers to sign up for more helpful content.
Whatever you do, don’t buy any email lists. This used to be common practice in the early internet days, but now it’s a guaranteed way to get reported as spam.
We hope you have found this post on ‘How often should financial advisors email their database?’ useful.
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