19 Proven Email Marketing Strategies For Financial Advisors (2024)

Contrary to the incessant murmurings that proclaim its demise, email marketing is not dead:

For every $1 you invest, you can rake in $44 in return - a mind-boggling ROI of as much as 4400% (Campaign Monitor).

And according to recent data by Statista, there were 4.2 billion email users worldwide in 2022, and this number is projected to reach 4.6 billion by the time 2025 rolls around. The sheer magnitude of email users underscores the vast potential for reaching and engaging your target audience.

Big Picture: Email Marketing For Financial Advisors

Financial advisors continue to look for ways to acquire and nurture leads plus, keep existing customers in hopes of more quality deals and ongoing business partnerships respectively.

Email marketing has emerged as an effective tool in that regard. 

It serves as the conductor's baton, the instrument that can allow the advisor to cultivate relationships with prospects and clients over time. Through strategic email campaigns, you can educate subscribers, establish yourself as an authority in the financial realm, and build trust with them. These are prerequisites to blossoming a loyal client base.

So, without further ado, let's dive into 19 proven email marketing strategies designed to empower financial advisors in 2023.

A quick update:

Hey there, financial advisor!

Are you tired of feeling stuck in your current productivity levels? Yearning to see your case rate and average case size soar to new heights? Well, look no further because we have a game-changing solution for you.

Introducing The Taylor Method, a revolutionary 'Objection-Free' Sales Process crafted by none other than the remarkable Eszylfie Taylor. Not only is Taylor an ACTIVE, MDRT Top of the Table producer, ranking among the top 1% of financial advisors worldwide, but he has also fine-tuned this system to bring you unprecedented success - you can learn how here.

Strategy #1: Build A Quality Email List With Suitable Opt-In Incentives

To kick things off, what is an email list?

Your email list is a collection of email addresses that have opted in to receive emails from you. When you focus on quality, you attract those who are genuinely interested in what you have to offer.

Now, think of opt-in incentives as irresistible treats that your prospects can't resist sinking their teeth into. It could be an exclusive e-book that uncovers the hidden secrets of financial planning or a mini-course that reveals the path to financial freedom. 

To nail email marketing, align the incentive with the desires and aspirations of your target audience only then would you ensure a quality list of subscribers.

Strategy #2: Craft Captivating Subject Lines 

Subject lines are the gatekeepers of your emails - Hubspot reports that 64% of people decide to open or delete an email based on it alone. Furthermore, it is crucial to note that financial services emails average a 26.84% open rate, 4.88% click-through rate, and 18.18% average click-to-open rate according to Campaign Monitor.

You, therefore, need to put a lot of thought into it - make them witty, intriguing, and catchy. Per Advisorpedia, the following are types of email subject lines that do well for financial advisors:

• Questions.

• Use of numbers.

• Updates and “how-tos.”

• Demonstration of thought leadership in niche topics.

• Including non-text media types.

Strategy #3: Build Relationships With Drip Campaigns That Never Sleeps

Drip campaigns are a series of automated emails sent at predefined intervals. Your goal is to use them to build relationships with your subscribers by delivering a sequence of valuable content over time. 

For instance:

The first email may be an introduction; the next email may introduce your prospect to the key principles of financial planning. And as the campaign progresses, each subsequent email dives deeper into specific subtopics, like wealth management, retirement planning, or investment strategies.

Strategy #4: Personalize Your Email Campaigns To Leave A Lasting Impression

Everyone loves a personal touch - in fact, 80% of consumers have grown to expect it.  And the best part:  when used, it can make you 40% more money plus other benefits. Fortunately, it doesn't take a degree in rocket science to do:

• Tailor your emails to address your recipients by their first names.

• Adopt a conversational tone in your emails, as if you were chatting with a close friend over a cup of coffee. 

• Be friendly, approachable, and genuine. 

Strategy #5: Make The Most Of Social Proof – The Holy Grail Of Trust Building

If you are ever in doubt humans are social creatures and we seek validation from others, check this out:

Optin Monster says a staggering 70% of individuals display a remarkable inclination to place trust in recommendations from an unfamiliar person. And an even more commanding figure emerges: 92% will trust a recommendation from an associate. 

Here is the thing:

Your audience doesn't trust you right off the bat. No. They will rather rely on real experiences shared by others who have firsthand knowledge of your product or service.

So, leverage this by including testimonials or case studies in your emails. Let your satisfied clients do the talking and watch your credibility soar.

Strategy #6: Harness The Power Of Segmentation To Deliver Targeted Content

Want an effective way your content would be relevant to your email readers?

Then, segment your email list based on demographics, interests, engagement, lifecycle stage, buying behavior, etc. to deliver targeted messages that resonate with each group. For example, you wouldn't want to send retirement planning tips to a group of fresh-out-of-college millennials. 

You get the point.

Strategy #7: Design Mobile-Responsive Emails For Enhanced User Experience

Without mincing words:

In our smartphone-obsessed era where about 86.29% of the world's population uses one, your emails need to be mobile-friendly. That means ensuring your content, images, and CTA buttons adapt to mobile devices as well as their screen sizes. Mail Chimp studies show that this can increase the click-through rate of your emails by 15%.

Strategy #8: Integrate Accessibility Principles In Your Content Creation

Accessibility in this context means: “reducing basic barriers to comprehension.” 

Why is this important?

1 in 6 persons “experience significant disability” which means that when you make your email accessible, you will increase the potential of more readership and engagement which could translate into more business from a group your peers are likely overlooking. To create a more accessible email, keep the following tips in mind:

• Use of color contrast.

• Add alt text for Images.

• Avoid the use of tables.

• Opt for accessible design email templates.

• Use emojis to convey meaning.

• When you embed videos or audio, add appropriate captions.

Strategy #9: Implement Behavior-Based Triggers 

This is a hidden gem in the treasure trove of email marketing:

According to Niel Patel, “Trigger-based campaigns offer the appropriate material and messaging to the subscriber at the right time, matching where they are in the funnel.” The most remarkable aspect? It leaves batch and blast emails in the shadows with a remarkable 497% increase in performance.

How does it work?

Emails are aligned with specific triggers - actions or inactions, events, or behaviors exhibited by their audience. In other words, an email is sent to an email subscriber following a trigger. It could be an email about a case study when they view specific content, an abandoned cart email that rekindles interest, or a personalized recommendation based on past purchases.

Strategy #10: Sharing Is Caring - Make It Easy For Users To Spread The Word

This is an often overlooked yet invaluable strategy in email marketing. Here is what to do:

• Include sharing buttons at the end of your emails

• Use a call to action prompting users to share

• Reward their advocacy

When you make it effortless for your users to share your emails with their network, you'll witness your email campaigns take flight, carried by the collective voices of your loyal subscribers. 

Strategy #11: Break The Mold With Interactive Email Experiences

Variety is the spice of life, so, don't be afraid to add some interactivity to your emails. How? Embed surveys, quizzes, or interactive calculators to engage your subscribers and encourage them to interact with your content. The outcome: It would not only boosts engagement but will also be a source of valuable data.

Strategy #12: Nail Your Call-to-Actions (CTAs) For Maximum Conversions

An important marketing fact: the primary objective of a marketing message is to elicit a desired response. Given this context, a powerful call to action shouldn't be treated as an afterthought. Whether you want them to share your email, or buy, consider implementing the following in your CTAs:

• Compelling language: A clear and concise call to action (CTA) using strong and persuasive language. Additionally, use action verbs that instill a sense of urgency and motivation, such as "Discover," or  "Unlock," plus, use first-person, e.g., “Reduce my tax cost.”

• Highlight value: Communicate the benefits and value that recipients will gain by clicking on the CTA - focus on how your offering solves a problem or fulfills a need, emphasizing the unique selling points that make it irresistible.

• Strategic placement: Position your CTA prominently within the email, ensuring it stands out visually. Examples of where to place your CTA include above the fold, at the end of a persuasive paragraph, at the end of the email, and embedding it in an image. 

• Use visual cues: Arrows, buttons, or contrasting colors, are visual cues you can employ to guide the recipient's eyes toward the CTA. 

• Create a sense of urgency: Encourage immediate action by incorporating time-limited offers or limited availability into your CTA. Phrases like "Limited time offer," "Act now," or "Only a few spots left" create a sense of urgency that motivates recipients to take action promptly.

Strategy #13: Leverage The Power Of Automation

Without automating your email marketing efforts, you will embark on the arduous task of manually entering recipient data - each email address, along with corresponding personalization details. That's not all: human error may lead to inaccuracies in recipient data, and lack of personalization may result in reduced engagement and lower conversion rates. Ultimately, your productivity is hindered as you invest substantial time and effort in repetitive, manual tasks, leaving less room for strategic planning and optimization.

On the other hand, with automation, you can streamline your processes and provide a seamless experience for your subscribers. In a real-world context, it allows you to send emails to many people quickly, make them feel special, send them at the perfect time, and so on. 

Strategy #14: Mesmerise With Exclusive Educational Content

Make your subscribers feel special by offering exclusive content that is not available to the general public, such as research results, reports, training, whitepapers, or webinars. 

Your mission is to make them feel like they are part of an elite club, privy to knowledge that others can only dream of - this exclusivity adds a touch of allure, making them eagerly anticipate your every email. When you implement this strategy, position yourself as a trusted source of information and expertise to your subscribers. And as that trust deepens, so does their loyalty and willingness to take action on your recommendations.

Strategy #15: Tell Engaging Stories

Who doesn't love a good story? You see, stories have a way of bypassing the rational defenses that your subscribers may have built. Instead of bombarding them with facts and figures, you can penetrate their hearts and minds through the power of narrative.

Begin with an intriguing hook, a sentence that pulls them into the story and compels them to read on. Paint a vivid scene, allowing them to see, hear, and feel the world you are describing.

But remember that the purpose of these stories is not merely to entertain, but to educate and inspire. Weave in lessons, insights, and practical advice seamlessly into your story. These stories become bridges that connect your expertise to their aspirations, helping them see the relevance of your advice in their own lives.

What type of stories should you tell?

Use personal anecdotes, draw inspiration from real-world events, testimonials from satisfied clients, or even parables that illustrate important financial principles. 

Strategy #16: Stay Consistent With Your Branding

Ensure that your emails align with your overall branding strategy. Meaning your colors, logo, fonts, and imagery should be consistent to reinforce your brand identity and make your emails instantly recognizable.

Strategy #17: Test, Analyze, and Optimize

Take it to heart. Email marketing is a never-ending experiment - a constant process of refinement and improvement. It is strongly recommended that you A/B test different subject lines, content layouts, and CTAs to see what resonates best with your audience. Analyze the data and optimize your campaigns based on the insights you gather. 

But that's not all there is!

Optimize for Deliverability. No matter how amazing your emails are, they won't have an impact if they don't land in the inbox. Optimize email deliverability by using a reputable email service provider, pay heed to your reputation, and keep your subscriber list clean and up-to-date.

Optimize email frequency and timing for maximum impact. If the frequency of your emails is far between, you risk fading into the background noise of your subscribers' inboxes, forgotten and overlooked. Too frequent, and you risk overwhelming and fatiguing your audience, causing them to hit the "unsubscribe" button. It is a delicate balance, you need to achieve through testing and careful optimization. What about the best times to send emails? Hubspot research revealed that marketers got the best results when they send emails between 9 AM to 12 PM and also, between 12 PM to 3 PM. As for the days of the week: Monday, Tuesday, and Wednesday yielded the most engagements. 

Strategy #18:Stay On The Right Side Of The Law – Nail Email Marketing Compliance

As financial advisors, playing by the rules is not an alien concept. And email marketing is not an exception to the rule. Because anything else will likely land you in trouble. Here are examples of three email marketing rules and compliance regulations that you need to know:

• Anti-Spam Regulations - CAN-SPAM Act Compliance: It mandates that your emails must include accurate header information, provide a clear and easy way for recipients to unsubscribe, and ensure that your subject lines are not deceptive or misleading.

• Personal Data Protection: It is crucial to comply with data protection laws, such as the General Data Protection Regulation (GDPR) in the European Union and the California Consumer Privacy Act (CCPA) for the U.S. These laws mandate the email marketer to seek necessary consent to collect, store, and process personal data, and take appropriate measures to safeguard that data from unauthorized access or breaches.

• Permission-Based Marketing: You are required to obtain explicit consent from individuals before adding them to your email list which can be achieved through double opt-in forms, where potential subscribers willingly provide their email address and indicate their desire to receive your emails.

Note that email marketing compliance is not only a matter of legal obligation but also an opportunity to build trust with your subscribers. When you respect their privacy, deliver relevant content, and offer an easy opt-out process, you can establish a strong and ethical foundation for your email marketing endeavors. 

Strategy #19: Continuous Learning 

In the ever-changing world of finance and digital marketing, where knowledge is power, the commitment to ongoing education is a key that can unlock new possibilities and propel you toward your dreams - which for many advisors is more deals and ultimately an assured financial future.

Last Thoughts: Surpass Boundaries And Unlocking Your True Capability

If you want to say goodbye to the days of struggling to prospect up to individuals who align with your income goals, the Taylor Method equips you with the tools that can make your financial dreams a reality. 

And that's not all - imagine receiving coaching from a true industry heavyweight, an MDRT Top of the Table producer who actively walks the talk. 

No more sleepless nights fretting over your finances.  The Taylor Method turns the industry on its head by shifting your mindset from merely selling products to solving problems. This paradigm shift empowers you to navigate the sales process with confidence, resulting in a drastic reduction in objections.

But don't just take our word for it. As a field-tested, proven system it has already transformed the lives of thousands of financial advisors across the globe. So what are you waiting for?

It's time for you to join their ranks and build your million-dollar practice!

And as a bonus, you'll gain access to a vast library of content that will help you tackle each pillar of the sales cycle with finesse. Meaning, you'll be armed with the knowledge and strategies to conquer any challenge that comes your way.

Don't wait another moment; your prosperous future awaits.