Did you know that 97 percent of users will not convert after visiting your website? That’s because your visitors typically need to engage with your brand multiple times before they act — seven times, to be exact. One of the most widely accepted tenets of successful marketing is the Rule of 7. The rule is simple: On average, you can expect to engage a potential client seven times before they buy. 

How can Financial Advisors reach out to prospects enough times to reach that magical number? By using retargeting ads for financial advisors. You’re likely familiar with targeted emails and similar marketing components, so understanding retargeting should be easy. Simply put, retargeting is targeting an audience repeatedly to increase the likelihood of a conversion.

The difference between retargeting ads and social media posts lies in intent. Your potential clients typically have specific intentions when they seek out your latest tweet or Facebook posting. But retargeting ads don’t require any intent because they follow your audience across the internet. If you get it right, a retargeting ad campaign can increase the conversion rate of new visitors to your site by 33 percent. 

How do financial advisors get it right when creating retargeting ads? They learn when, how, and where to retarget using field-tested guides like this one and automation for Pay-Per-Click (PPC) campaigns.

Are Retargeting Ads Worth It for Financial Advisors?

Retargeting gets results for retailers, and it can get results for financial services when it’s an integral part of a digital marketing strategy. Is it possible to improve your conversion rate of new visitors by a third with retargeting campaigns? Yes — as long as you retarget with specific messaging and goals. Here are a few ways financial advisors can put retargeting to work for their business.

• Promoting New Financial Services or Products

Your audience expects you to have a reason for reaching out or they won’t be receptive. New products and services are the perfect reasons for reconnecting with prospects. The new service you’re promoting might be the one that aligns with a prospect’s needs and prompts them to revisit your website to learn more. But retargeting ads don’t only appeal to prospects. You can also retarget existing clients with additional services that can meet their needs, increasing the lifetime value of the client.

• Driving Conversions

Because a retargeting campaign is specific to a prospect’s place in your sales funnel, you can meet prospective clients at a particular point along the client journey and help them move on to the next step. Wherever they are in their buying decision, retargeting ads can speak directly to their needs and concerns to get them moving along toward conversion. A retargeting campaign to drive conversions provides numerous touch-points for connecting with a prospect and could easily create seven coveted connections. 

• Completing the Client Journey

Marketers can target and retarget, analyze and tweak, and still find prospects stalling right before the conversion step. This last step is where financial advisors lose many prospects — but it doesn’t have to be that way when you use retargeting to seal the deal. Think of retargeting ads designed to help prospects complete their journey as your marketing ace in the hole.

Get creative and offer a free trial, an exclusive white paper, or something else of value the prospects haven’t been offered before. You need to come up with something enticing enough to get the prospect back to your website or a landing page. Then you can engage them to answer questions, quell concerns, and turn them into a client.

How Can a Financial Advisor Use Retargeting Ads

Learning how to use retargeting ads for financial advisors will require some level of design and writing compelling copy. Canva is a graphics program that is easy to use and affordable, and it can help you create ads that get prospects’ attention. To create engaging content in retargeting ads, you must understand where your prospect disconnected and why. Only then can you create content that speaks directly to the concerns preventing them from moving along the client journey. 

While many retargeting platforms include analytics that help you fine-tune your ads, even the most productive ad will only work for so long. A ReTargeter study found that clickthrough rates decrease by about half after five months of running the same set of ads because potential clients lose interest in them. To avoid these lulls in performance, advisors should revisit their ads every few months or so and give them a refresh.  

Learn more about how retargeting, marketing automation, email campaigns, and other powerful tools can take your advisory to another level. Get a demo today and start putting the latest marketing technology to work in your business using Attract and our other marketing platforms. 

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