Boost client engagement with effective email marketing

Key takeaways:

• Email marketing is a great way to connect with clients because it's cost effective and allows for more direct communication.
• You’ll need email marketing software to help build lists, schedule sends, and test performance. 
• Although email is one of the older forms of digital communication, it’s here to stay. 

November 5, 2024 – Email marketing is a powerful opportunity to connect with clients, build trust, and grow your business. An effective email marketing strategy can transform cold leads into loyal clients. In this blog, we’ll share tips on how to get started with email marketing for your business.  

Why email marketing matters

Email marketing for financial services is particularly advantageous due to its direct and personalized nature. Unlike social media or traditional advertising methods, email allows you to communicate directly with new or existing clients in a space they frequently visit—their inbox. It's direct, personal, and allows for detailed insights into products and services. For financial professionals, leveraging email marketing can lead to higher engagement rates compared to other platforms, as it’s generally accepted in the digital marketing industry that email provides the best ROI compared to other channels. And according to Statista, the number of global e-mail users is set to grow to 4.6 billion by 2025¹, proving that email is here to stay.

Getting started with email marketing

• Find a good email marketing platform. When choosing the right platform, you’ll want to consider budget, send capabilities, and features. It’s also important to consider the reputation of the platform, their customer support options, and ease of use.
• Start building your subscriber list. Build an engaged subscriber list and keep your list healthy by removing inactive subscribers as needed.
• Commit to a cadence. Whether you commit to weekly, monthly, or quarterly emails, you’ll want to keep your engagement with clients consistent.
• Segment and test. Segmenting your email list allows you to send targeted messages that resonate with specific groups within your audience. Set goals, test, and learn about your subscribers to optimize future sends.

Tips for building an engaged subscriber list

1. Offer valuable lead magnets: A lead magnet is a free resource offered in exchange for a visitor's email address. You can create lead magnets like eBooks, whitepapers, or financial planning checklists that provide valuable information to potential clients.
2. Optimize your website: Ensure that your website has prominent and easy-to-use sign-up forms. Use compelling calls-to-action (CTAs) to encourage visitors to subscribe to your newsletter.
3. Leverage social media: Promote your email sign-up form on your social media platforms. Use engaging posts or ads that highlight the benefits of joining your email list.
4. Network and collaborate: Participate in financial forums, webinars, and industry events. Offer to share insights and, in return, gain access to a wider network where you can promote your email sign-up.

What type of content should you be writing?

Once you’ve built a solid list of subscribers, you’ll want to make sure you’re delivering content that keeps them engaged. Every email should have a clear purpose and give your clients some sort of value. Whether it's downloading a resource, scheduling a consultation, or reading a blog post, make sure your CTA stands out. You’ll know what type of content is relevant to your clients specifically, but you could share newsletters that contain market updates, financial tips, or educational content. Position yourself as an expert by offering insights that subscribers won't find elsewhere.

• Personalize emails whenever possible by addressing subscribers by name and sending content that matches their interests.
• Because the subject line is one of the first things your clients will read, make sure its captivating, concise, and relevant.
• Send time won’t matter as much when you first begin your email marketing journey, but as you test and learn more about your subscribers behavior, you’ll want to send emails when they’re more likely to see them.

Important compliance considerations

Compliance is a critical aspect of email marketing for financial professionals. Be sure to adhere to all guidelines from governing bodies regarding financial rules and regulations. You’ll also want to be transparent in how you use and protect subscriber data to build trust and credibility.

Ready to get started?

Email is part of any well-rounded marketing strategy. By building a robust subscriber list, crafting valuable content, and analyzing campaign success, you can create an impactful email marketing strategy tailored to your practice that fosters client engagement and drives business growth. Stay informed, adapt to changing trends, and continue refining your approach to maximize the benefits of email marketing.