Email Marketing as a Retention Tool for Finacial Advisors

Digital marketing isn’t just about selling to new clients. It can also be an extremely powerful tool for retaining clients. In order to maintain a positive client relationship, it’s important to stay top-of-mind for your clients without pestering them.

Today, people get bombarded with emails, as they send and receive hundreds every day. You don’t want to add to the growing list of spam emails in their inbox. Instead, you need to cut through the clutter and deliver true value to your current, past, and potential clients.

How often should advisors email their clients?

Your email frequency will depend on market activity but should average out to about two emails per quarter or about eight emails all year. Any more often and you start to become a nuisance. Any less often and your contacts will begin to forget you exist.

At the bare minimum, financial advisors should send out one email per quarter. In a rare event with lots of market activity and updates, you might email more frequently. However, advisors should avoid emailing more than twice in one month.

When should advisors email clients?

The beginning of a new quarter is a perfect opportunity to send your contacts an update on how the market has been performing, what trends you expect to see in the next few months, and any new resources you’ve published.

Significant events (like a global pandemic or national recession) are also excellent times to reach out. Share any information and guidance you can to reaffirm your position as a trusted partner and industry expert. You want to be the first resource your contacts think of in these situations to go to for advice.

When your clients are approaching a key milestone, like paying off a large debt, meeting a contribution limit, or retirement, send them a quick email to celebrate. A quick note not only shows you care, but also reminds your clients who helped them along the way.

What should financial advisors send emails about?

Aside from specific personal notes, most of your outreach can be the same across your entire list. Focus on sharing significant market updates and what they mean for your contacts. Explain complicated financial concepts in a way that’s easy for your audience to understand and provide tools to make their finances easier. Budgeting spreadsheets, retirement calculators, and other useful templates can really help your clients and establish your expertise.

You don’t have to spend hours and hours building emails every week, though. Explore industry trends and share articles from reputable publications, preferably not competitors. Repurpose and promote old content that is still relevant to your audience’s needs.

When in doubt, there’s no harm in asking your clients what they want to hear about. Use your clients’ questions to develop helpful resources you know they want to use.

Establish your expertise with email.

Finances can be scary for your clients. Use emails and your content to make it as approachable as possible. By doing so regularly, you’ll reaffirm yourself as an important partner and stay top-of-mind for any potential needs.

Gen Z Marketer Passionate About Communities

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