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I received my advisor’s weekly market commentary via email the other day. After a cursory review, I sent it straight to its usual destination: the deleted items folder. I appreciate that she is keeping me informed about the financial markets and their impact on my portfolio. But what I’m really interested in knowing is what shethinks about the recent budget squabbles in Washington, D.C., and heroutlook for the markets – not what the anonymous ghost writer who created her newsletter thinks.
Email, Twitter, LinkedIn and Facebook make it relatively easy for advisors to broadcast their insights, establish themselves as credible experts and (hopefully) attract new clients. Whether you publish an e-newsletter, write a blog or are a prolific tweeter, these communications all fall under the category of “content marketing.”
Rather than pitching products and services, the goal is to deliver consistently relevant information to prospective and current clients, which could win their business and loyalty in return.
Being heard above the cacophony of information competing for investors’ attention has become incredibly difficult for advisors. The mere fact that you are tweeting, posting on LinkedIn or sending a monthly e-newsletter does not mean your audience is listening or engaged.
That’s especially true if you aren’t communicating any original ideas or perspectives. Indeed, if you’re simply communicating syndicated (“canned”) content that is similar (or identical) to what every other advisor is saying, you’re just adding to the noise.
High-quality, interesting content is the Holy Grail of content marketing. Generally, there are three ways to obtain it: buy it, curate it or create it. Let’s look at all three strategies more closely.
Buying syndicated content
Several companies, including Morningstar, Broadridge-Forefield and S&P Capital IQ Financial Communications, offer advisors access to vast libraries of pre-written content covering topics from asset allocation to Roth IRA conversions to year-end tax tips. Generally, this is decent stuff, and it’s usually FINRA approved, which can save you some headaches and time. While this is an efficient, affordable way to educate your clients and prospects, this syndicated content does little to distinguish you from another advisor across town who may be subscribing to the same (or a similar) service. Sure, you can slap your name and logo on it and create a “customized” newsletter, but your clients and prospects recognize this for what it is: generic content.
Curating others’ content
By curating content, I’m referring to the practice of sharing content from other reputable sources. This happens when you come across a particularly interesting article or video that’s relevant to your target audience and share it through LinkedIn, Twitter, Facebook or other channels. To add more value, it helps if you add your own opinions about the content. While this is a cost-effective way to keep your name in front of people and position yourself as a well-read expert, it’s not as valuable as sharing your own original thoughts and content.
Creating customized content
If your goal is to build a loyal tribe of followers who eagerly await your latest post or newsletter and then share it with others, you will have to devote some time to the effort. There is no shortcut to creating high-quality, thought-provoking content. It requires creativity, concentration and planning.
I recommend blocking off time each week or month to brainstorm potential topics. For me, the early morning is the best time, before emails and phone calls starting competing for my attention. If you commute to work, use that time to jot down notes or record voice memos on your smartphone. Create a spreadsheet that lists potential topics and why they are relevant to your target audience. Some ideas may be timeless, such as the benefits of international diversification. Other topics might be timelier, such as the potential economic impact of a government shutdown. The goal is to build a library of ideas so you won’t be scratching your head each time you need to create an e-newsletter, blog post or tweet.
The next challenge is to actually write the content. If you’re a skilled writer, this won’t be too difficult. Again, you will need to block off time on your schedule.
But what if writing is not your strong suit? In that case, you can outsource to a freelance writer or agency. Perhaps there is someone on your team to whom you could delegate the task. In either case, have a professional editor review your draft for clarity and for any embarrassing typos. Misspellings of the words “manager” and “public” are two of the more common typos I see.
If you really detest writing but have a gift for gab, consider videos or podcasts instead. Technology has advanced to the point that anybody can create a professional video or audio presentation.
Cost considerations
The quest for high-quality content does come at a cost, whether it’s your own time or money you pay to a third-party provider or a freelance writer. The cheapest option is to buy the syndicated content referenced above or, if your firm provides it, to share commentary from your chief investment officer and other thought leaders.
But most investors demand more.
It’s helpful to hear what the firm’s chief economist thinks about the mess in Washington, but what your clients really want to know is, what do youthink about it? Think about ways you can supplement content written by others with your own personal views and insights. For example, my advisor writes her own monthly market commentary in addition to sending the weekly syndicated content.
Content marketing must be valuable and relevant. If the content you are sharing does not reflect your personal outlook or insights and is not tailored to your readers’ interests, there is a good chance they will tune you out. If you want people to read and share your e-newsletters and social media posts, you’re going to have to expend some time, energy and money to create high-quality, original content.
One final suggestion: Focus on quality, not quantity. Take the time to create your own original content, even if you do so infrequently. You can still supplement this content with other sources you buy or curate to increase the frequency of your content marketing.
Neil Rhein is chief of content development forBull’s-eye Financial Communications, where his team of experienced financial writers specializes in creating customized, authentic communications for financial services organizations, including financial advisors and wealth managers, asset managers and broker dealers, custom publishers and in-house marketing agencies. Contact him at[email protected].
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