Many financial advisors are looking for ways to gain more business and make themselves more relevant. The internet has made it easier than ever to reach a larger audience, but many are still unsure of how to get started with digital marketing. This blog post will give you some great ideas on where you can start implementing digital marketing for financial advisors to keep your calendar full!
Some consumers are looking for financial advisors to help them with their finances. Some people have a hard time finding the right person because they don't know who to trust and can be overwhelmed by all the options. Connect with these prospective clients and help them reach thier financial goals. This article is the first in a 3 part series planned to help financial advisors leverage digital marketing and fill their calendars with high quality leads ready to convert. In this article, I will share with you tips on leveraging Google ads to keep your pipeline and calendar filled.
In order to understand how Google ads work, let's take a look at what it entails from the perspective of your potential clients. For example, if they need assistance in managing your money or investments, then there is an ad that will appear on the side of your screen that lists some of the best financial advisor firms in your area. The reason why this works so well is because these ads show up based on their search history and location which means they are more likely to be relevant to them.
1. Why Should financial consultants Use Google Ads?
Google ads for financial consultants help people who are looking to hire a financial consultant find you. In your ad, you'll link directly to a page on your website or better yet a landing page where people can learn more about the work you do, and how they can get in touch with you.
2. How to set up a Google ad campaign?
Who should read this? - Someone who is setting up a new ad campaign for the first time, or someone who has questions regarding Google Adwords.
Google Adwords is one of the most common way of advertising on search engines. This article teaches you how to set up a new campaign step by step, and also explains some important concepts that are essential to understand. If you already know how Adwords work, skip the first section and go straight to "Why should you use Google ads for your business".
Some screenshots might look different than what your interface looks like since they were taken on a different account, but still explain everything that you will need to know.
Step 1: Create Your Google Ads Account
If you don't already have a Google Ads account, you'll need to start by creating one. It's easy to get started and takes less than 10 minutes. You can sign up right here .
Step 2: Create Your First Campaign
Next, you'll need to create your first campaign. It's as easy as logging into google ads and clicking '+New Campaign' on the left-hand menu. You can then select your language and country, give it a name, create your first ad (i.e. a text ad), and click save and continue.
Step 3: Select Your Campaign Goal
Goals of Google ad campaigns you can use as financial consultants
- leads ~ Get leads and other conversions by encouraging customers to take action
- website traffic ~ Get the right people to visit your website
- brand consideration ~ Encourage people to explore your products or services
- brand awareness ~ Reach a broad audience and build awareness
- Local store visits and promotions ~ Drive visitors to your local office
Depending on which goal you select will determine what types of campain you are able to use. Types of campaigns you can use as a financial consultant:
- Search ~ Create text or call ads that show in the search results of Google.com, on Google search partners sites, and more
- Display ~ Create visually appealing ads that serve across the Google Display Network, on Youtube, and on mobile or in app
- Video ~ Create video ads that are designed to increase reach and awareness, encourage engagement, or drive conversions
- Smart ~ Create text and image ads that show on Google, Google Maps, and across the web, and take advantage of minimal hands-on ads management
- Local ~ Drive store visits to local business locations with ads showing across Google's networks (such as Maps and Search) in an automated campaign designed for businesses with many locations
- Discovery ~ Create visually rich, personalized ads that drive engagement with your brand across YouTube, Gmail, Discover, and more
For our example in this article we will select Leads for the goal and Search for the type. We then have a list to choose from for how we want to reach our goal or what type of conversion we want to track. One that works well for our financial consultant clients is Phone Calls. After you select that you will have to enter the phone number you want included in the ad.
Step 4: Creating An Ad Group
In google ads, you begin with a 'campaign', and an ad group is one of the groups that make up your entire campaign. Your google ads account automatically comes with one ad group, but you can create many more to organize your ads by topic and audience type.
On the next screen name your campaign. I like to use the following naming convention to make it easier to know what the campaign is for.
Goal-Type-Keyword/Interest for example Leads-Search-College Savings Plan
Click show more settings
because the conversion goal of this ad is phone calls I like to use dayparting and set when the ad will run. Unless you like being called at 11 pm by prospects.
In the section for locations choose Enter another location and then enter your zip code. For this example we are using Atlant, Ga and as you can see there are 21,200,000 possible people to see our ad.
Next select advanced search and then radius and a distance you want to target. It's tempting to make this as large as possible. But ask yourself, how far will someone reasonably travel to see you.
next select the languages your customers speak.
Next you can choose an audience or wait and choose keywords later.
There is no best option here and one that we always test audiences against keywords.
Next set your daily budget for your Ad group. You can set different budgets for your different ad groups.
Under bidding we recommend beginning in the following way.
click or, select a bid strategy directly
and then choose Manual CPC
This allows you more manual control over your bidding until Google has enough data for you to optimize the ad group for other types of conversions such as Target CPA, Target ROAS, etc.
Add as many extension as you can in the next section. This is an intermediate level function and instructions for how to create them will not be covered in this article.
Step 5: Creating Your First Ad
Now that your google ads account is set up, ad group is created, and you've found some relevant keywords (i.e college savings plan), it's time to create your first google ads ad.
The google ads editor is pretty easy to use, but you'll need to spend some time getting acquainted with it. If you haven't already, make sure google ads are tracking conversions for your website. Now just write a compelling headline.
There are no hard and fast rules for writing google ads headlines, but make sure your headline appeals to the right audience (i.e Parents of young children). Don't be afraid to call out a certain profession or group of people you're targeting with google ads.
In this case, google ads for starting a college savings account might include something like:
Headline:'College Savings Made Easy - Start a Plan for your child today'
Description: Starting a College Savings Account Early Can Help Support Your Child's Future. Learn More About How You Can Save for Your Child's Future in a 529 Account.
Below is an example of what the Google Ads editor may look like in your account.
3. Why should you use Google ads for your business
- Google ads is one of the greatest financial branding tool that will help make you a millionaire
- Google ads creates leads in your business for less than other marketing channels, everyday 24/7
- Google ads gives you instant visibility wherever your target market go on google (for instance: if I want to learn about vps hosting then google ad will pop up when people google "vps hosting" because google knows I'm searching for something related to vps hosting)
4. The benefits of using these types of campaigns
- Google AdWords campaigns are a great way to generate leads and increase your brand awareness.
- Once a client is found via google AdWords you can use automation to have the lead go straight into your database so that you have their contact details and can follow up with them over email, telephone or postal mail.
- Google AdWords allows for a large range of keyword combinations, meaning the opportunities to market yourself through google ads are endless.
- Google Adwords allows you to monitor your campaigns with google analytics, google ad words will tell you exactly how many people have clicked on the ads and where they go from there - this makes it possible to see which of your ads are more successful.
- Building google ads for financial experts allows you to get a lead in with no interruption of current customers, meaning the client becomes aware of your service when they are actively searching for it.
- Google allows you to create google ad campaigns specifically for your own business, meaning google will show your ads only when people are searching google specifically looking for your type of service.
- Setting up google ad words campaign is relatively cheap, because google wants as many advertisers on their platform as possible. They allow smaller companies (like financial consultants) to advertise through google at low price points.
- You can place multiple listings
5. Common mistakes people make when setting up their campaign
1. All google ads are created equal… but some still suck! When setting up a google ad campaign it's really important to remember that everything google provides is a service and can be used in different ways, so it’s good to experiment with what google has on offer. Or better yet, hire Keystone Ad Agency to create, manage, analyze, and optimize your Google ads for you.
2. google ads are all about analytics! Oftentimes people set up google ads then forget to monitor what is going on with their campaign. This is a big mistake as google provides a lot of data and stats, so if you want to know what is happening in your google ads account then google will tell you. Analytics are google's way of telling you how effective your ads are and what changes need to be made to improve them.
3. Focus on more than just optimizing your conversion rate! Conversion rates, while important, should not be the only metric monitored when running google ad campaigns. google provides many stats on each campaign run so it is equally as important to track traffic, avg time in site, bounce rate etc … all of which can shed light on what a user does once they land on yours site from an ad click. Also, this lets you know where in your sales funnel you are losing clients and need to make changes.
4. google ads aren’t free… but there are some cheap ones available! It’s easy enough to set up google ads and start spending money on clicks but just like with most things in life, you get what you pay for. This doesn’t mean you have to spend a lot of money on google ad campaigns but if you just set up an account and start running ads without first doing some research into google's different offerings and methods of campaign optimization google isn't going to be very effective for you.
5. google ads should not be the only form of marketing used! Google ads can and do work but it is important to remember that google ads are just one part, albeit an important part, of your overall marketing strategy. It’s best to run google ad campaigns in conjunction with using google my business (which is google's directory), social media marketing, email marketing, etc.
6. Tips and tricks to get the most out of your advertising budget
Through google ad planner, there is a lot that you can do to get the most out of your google advertising budget. While google's algorithm and google's auction system is a bit complex, there are still things you can do to help your ad perform better in google ad planner. Here are some tips I have found and like using google ad planner more efficiently:
This tip is about how google allows you to set bids for individual keywords. If you're bidding on an ad group with multiple keywords or broad match types (which google recommends, but we think you should only use in the data collection phase), then it may be worth setting bids for individual keywords as well, if you feel that they deserve to be bid differently. For example, if I had 2 different keyword phrases with the same exact match type, but different volumes coming through each month, I might want to give one of them a slightly higher bid so that it gets more clicks compared to the other. I usually keep the bid the same, but give that keyword a percentage higher bid to show google that this keyword is more valuable than your normal keywords within the ad group.
This tip is about how google recommends you change your bids based on whether or not you're showing a "top of page" ad position or a "text link" (what google calls their text ads at the bottom of the page).
If you're showing google top of page ads, google generally asks for slightly higher bids in an effort to prevent competing at too low of a price and getting pushed out of positions 2 through 4.
Google's reasoning behind this is that if you're able to maintain better positions with higher bids, then google will continue to place those highly valued top spots in front of more people. In the case of text links though, google will increase your bid on that keyword even more if you're competing against a very high value keyword that google wants to place in position 1.
This is because google wants to show higher quality ads at the top of page instead of just showing any old thing for each individual search query.
This next tip comes from google's help center and it has to do with whether or not you have negative keywords within your ad groups.
When google places relevant ads closer to the beginning (or sometimes only) ranks, they are often giving preference to advertisers who use negative keywords correctly (since google assumes that their ads would probably be more valuable if they did).
If you have negative keywords setup properly, google actually recommends giving you a lower bid than if google didn't necessarily know that your ad should not target some of those keywords.
If google does not suggest any changes to your original bids, google clearly states that this is because they are "receiving enough clicks and impressions for this search term".
While google suggests making small bid changes (increments of 0.01 or 0.10 each time), google's reasoning behind the suggested changes is still somewhat unclear.
However, what I've noticed is that google almost always continues to recommend these minor adjustments even after many days have passed with no change in my actual performance data versus their predicted suggestions (which could mean nothing).
Therefore, when google doesn't suggest any changes to your bids, it might just be google suggesting a bid increase based on past week's search query data, where google predicted your best possible performance and doesn't want to change it.
Another type of suggested bid changes google will make is when google suggests you move from broad match keywords to phrase or exact match.
The reason google gives for this is that "ad groups with these ad extensions tend to get more clicks at lower average cost per click".
While google offers no explanation as to why they say this, most people think that google makes this suggestion because google sees lower level searches matching the broader terms before they would be able to rank any relevant ads for the user
We hope this blog post has given you a better idea of how Google ads can help your business. If you’re interested in learning more about setting up and running an ad campaign for your company, contact us today to speak with one of our consultants.
They will be happy to answer any questions or concerns that come up during the process so don’t hesitate!
The benefits we discussed are just the beginning when it comes to what digital marketing experts have seen clients achieve through these campaigns.
To get started on finding out exactly how successful they can be for your business, give us a call or fill out our online form below now and schedule your first appointment today.
Make sure you check out the rest of this series
Part 2: “How to use Social Media Ads”
Part 3: “How to use Email Marketing”
Part 4: “How to use Content Marketing” (Coming 25 July)
What do you think? Leave us a comment below or email us at firstname.lastname@example.org if you have any questions about this blog post!