Advisor Technology | 10/21/2015
The Two Worst Email Mistakes Advisors Can Make
On an average day, I receive 100.14 emails. That’s the number my calculator application computed, at least, using this past week as a sample.
It doesn’t include emails in my spam folder (which I delete immediately) or junk email that niftily evades my spam folder (which I also delete).
The number also includes October 16, a day on which I only received 20 emails (it was apparently a pretty lonely day.)
And it doesn’t include the 70 emails I’ve already received today.
My point is this: When it comes to communication on the Internet, I have a lot of people vying for my attention. And, even though I average more than 100 emails a day, I’d wager I’m on the low-end of the email-receiving-populous spectrum. In fact, some studies estimate the average employee in an office setting gets over 120 emails every day.
The constant onslaught of digital communication is why we find ourselves at Mineral Interactive shaking our heads at the email marketing practices of many advisors. You work with clients in some of the most intimate and important details of their life; you should aim for a high-touch impact when it comes to your digital interactions, and that includes email correspondence.
When communicating with clients using your email marketing solution (Jud offered a few recommendations last week), we’ve got a few simple tips to help you craft more effective content.
Common Email Mistakes Advisors Need to Avoid[/vc_column_text][/vc_column][/vc_row]
You might question how effective it is to promote yourself on the Internet when the “It’s not too late!” advertisements on the side of your Facebook page only succeed in mildly enraging you.
But you’re making a serious mistake if you aren’t touching base with your clients in the form of a newsletter or other regularly scheduled update. If all you do is wait for them to contact you, you aren’t building the kind of close relationship — including fostering the level of trust — that you ultimately want.
Lasting relationships are built through communication and contact, and so is a healthy business.[/vc_column_text][/vc_column][/vc_row]
If you’re in this camp, you’re doing marginally better than the one above. At the last, you’re making an effort to highlight the goings-on in your world.
However, if all you’re doing is converting a text document to a PDF and shipping it out as a blind carbon copy to everyone you know via Microsoft Outlook, you’re making do with a subpar strategy, and an impersonal one at that.
For starters, you’ve effectively communicated to your clients that you’re not up-to-date with the times. If your local supermarket can send them emails calling them by name and including interesting graphics that grab their attention, why aren’t you doing better?
The biggest sin with this strategy, however, is that you also have no way of knowing if your newsletter is being read (or if the client was more enticed by their latest Match.com notification). You also don’t have a simple and easy way to bring in those small personalization tactics—like greeting each customer by their first name—that can help what you’re saying resonate more intimately.[/vc_column_text][/vc_column][/vc_row] As an advisor, you know that the relationship you have with your client is vital. As a good advisor, you know that creating an authentic relationship requires communication. And email is an important part of your communication strategy.
That’s why Mineral Interactive identified and ranked several email marketing tools for advisors in last week’s post. You can read that article here.
Email marketing tools can allow you to target specific demographics within your client base and generate content appropriate for each, as well as provide analysis and statistics on who opened your email, clicked on the links you provided, and more.
Some of these tools even allow further personalization by enabling you to designate that the email sender will be the advisor who works directly with the client receiving the email, a useful tool in a multi-advisor office.
Email is an important component of your communication strategy, and its importance only grows with younger investors. Be sure that as you work, you consider how you can best reach your client base with strategies that help you spend time more effectively, but also continue establishing deeper bonds with clients.
What strategies have you found most effective for email communication with your audience? Let us know in the comments below how you build authentic relationships with your clients using email marketing.[/vc_column_text][/vc_column][/vc_row]
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