The Death of the Traditional Marketing Funnel (and What Advisors Should Do Instead)
Awareness. Interest. Desire. Action. This is the dependable course most businesses follow when building out their marketing strategies. While the traditional marketing funnel may be a good fit for businesses across many industries, financial advisors need to rely on a different kind of marketing blueprint: one based on a foundation of trust.
The traditional funnel assumes that trust-building is linear and that prospects move step-by-step, in the same order, every time. People only choose a financial advisor once or twice in their lifetime, making it a high-stakes, slow-moving process. Trust-building touchpoints can differ from prospect to prospect, contingent on who they are and what they’re seeking at that moment in time.
With so many elements at play, how could a financial advisor use any kind of marketing blueprint to build trust with prospects? At Merit, we believe that we have built a solution. Keep reading to learn more.
Merit’s Three Pillars of Marketing for Financial Advisors
1. Geo-Targeting, Meet Intentional Messaging
Pairing hyper-local ad-targeting (zip codes, neighborhoods, local events) with messaging that strategically speaks to that target market’s financial state of mind (median income, dominant industries, life-stage) means you can meet them where they are and offer the services that meet their needs, in real time.
“Educating people on relevant information that they are seeking at a specific time is more natural [to niche marketing strategies] than sales pitches”
––Hollis Hardiman, Wealth Manager and Partner at Merit
2. Let National Credibility Take Root in Local Trust
Leading with your business’ national reputation sets the foundation for trust, while local delivery of that credibility brings that trust into a tangible relationship with prospects. Presence at community events, local client stories, and regional partnerships make your business’ scale, expertise, and resources feel like a known, friendly neighbor.
“What really moves the needle is showing that we as a firm, or us as advisors, understand the financial reality of a prospect’s situation — the employers they work for, the way they’re paid, the benefit structure, the kinds of decisions they’re facing, and the timing pressures around those decisions. When a prospect says… “They clearly understand what’s going on in my world,” conversion more likely happens.”
–Tait Lane, Managing Principal at Merit
3. Build One Repeatable Framework; Modify For New Localities And Niches
A core “build once” toolkit can comprise brand messaging pillars, content templates, outreach scripts, and event formats. For each new market or niche, use tactics like these: local data, testimonials, imagery, and niche-specific storytelling to refit your core assets for new audiences.
“Without central ownership, it’s nearly impossible to maintain consistency as you scale, learn what’s actually working across markets, or move quickly without getting bogged down in compliance. Centralized support turns marketing from a collection of individual efforts into something that compounds over time.”
–Tait Lane, Managing Principal at Merit
If you are ready for a marketing strategy that builds compounding trust, let’s talk. Our team can support a wide range of marketing functions, from branding and design to content strategy and website management. Start the conversation today.