Digital marketing is a skill we learn and practice to grow our businesses, but that doesn't mean it comes naturally to a lot of financial advisors. And some of us really, really feel that learning curve when we're put
But you don't have to be
On Altruist's
Actually, he did give up … for a while. Smart advisors think about the value of their time, and Conole couldn't justify the opportunity cost of sinking 20% of his work week into producing videos with view totals he could count on both hands. But while Conole turned his attention elsewhere,
YouTube videos don't disappear after you post them. That content is still there, and if it's good, an audience will find it. For Conole, the trickle of comments and leads eventually turned into a stream. And once he decided to go all in? Conole attributes $100 million of his firm's 2023 organic growth to his YouTube channel alone.
Any advisor who has tried can tell you how discouraging it is to put yourself out there with videos, podcasts and other digital prospecting efforts, only to get crickets in response. But I'll repeat myself: You don't have to be the
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And many financial planners seem ready to call it quits. Research from Putnam Investments found that advisors in 2022 pulled back from
If that's not enough motivation, then consider what high interest rates and the
Look, you don't need a lot of polish or expensive equipment to get started. Those things help, no doubt about it, but you can go far with a good phone camera and a quiet place to record yourself. What you say matters more. With this kind of digital marketing, your job isn't to sell your firm's services. You're there to
To focus on the right topics for his content, Conole asks himself: "Who would benefit the most from my perspective and experience?" Our industry talks a lot about niches and target client profiles. Video and podcast platforms want you to take it a step further and build a community. People are starved for financial literacy and the ability to make informed financial decisions. You have what they need. You just need to give your efforts enough time to snowball.
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That said, you should look for help, whether in-house or outsourced. Conole was right to think about the value of devoting his time to video. While he returned to digital content with a vengeance, he soon realized that editing videos was not the highest and best use of his time. Delegate this work to digital natives who understand the medium. Giving your videos the right length and presentation will have a huge impact on your reach, but you got into this industry to help people with their money, not spend your nights editing YouTube thumbnails.
Conole didn't build his video and podcast platforms overnight. This work takes time, and I know that's hard to hear when so many of us are under the gun to keep growing. But the sooner you start and the longer you persist, the more of a chance you'll have to create a new source of success for your firm.
And your early efforts don't have to be perfect, either. Do yourself a favor and scroll all the way down to the very first videos that other advisors have published on their channels. You'll see how far they've grown. And, I hope, you'll be inspired to give it a shot yourself.
