HOW TO INCREASE YOUR AUM USING DIGITAL MARKETING
If the subject is about the RIA’s in the finance business, then the pivotal topic should be about Assets Under Management (AUM). Yes, for each and every RIA, increasing their AUM is the most critical task, Mostly they fix their target towards wealthy customers to gain more assets under their management.
But, will it be right to follow the traditional prospecting method to gain new leads and assets, when digital marketing is reaping huge rewards when utilized perfectly. Most of the investment advisors say that digital marketing, which includes social media, has helped them with more leads than traditional methods.
Well, then hosting a website and holding social media accounts will drive new leads to your business. Will they? No. Merely having a website and posting a few blogs doesn’t mean digital marketing. It is more than that. It is staying on the limelight, being active, staying updated, and more.
This blog will summarize a few methods to increase your AUM using Digital Marketing.
Be in the Present:
Being said that, always be updated. If you host a website for your advisor, then it’s okay. The platform has been made. But posting a few irrelevant contents along with some ads won’t help. Your success will be determined by the frequency of your activity. Post your blogs more frequently. Let the blogs discuss the current events that are happening around the markets. Let your audience know that you are ahead of the race and are staying updated. And to increase the AUM, concentrate on financial matters, taxation rules, subsidies, etc. If possible, those contents on your digital medium can be educative. Only when you make your presence in the digital medium with relevant and updated content, your digital ads get a chance to be viewed by your audience.
Acquire Leads Using Gated Contents :
Once you begin to post new articles frequently on your digital platform, you will be getting more audience to your content. But this alone won’t increase the AUM for your RIA firm. You need the contact details of your audience to get new leads, and these leads are those converted into your customers. Making use of gated content will get you the contacts of your audience. Gated content is nothing but hiding your valuable copyrighted content under a form in your digital platform. The audience could view your content only if they fill the overlying form. But, be cautious not to ask for too much personal information.
Assets Can Be Increased Only From Leads:
Never miss out on any lead, as each and every lead that you get is important to your business. Follow up with all the leads you get. These leads can be from your existing customers, new audience to your content over the digital platform, or from any other source. Only when you follow up with new leads and convert them into your clients, your AUM will increase. Once you acquire new clients, make sure you engage them.
Utilize Social Media:
A major player in the digital platform is social media. It may seem like these media are being used only to post photographs and videos of personal interest. But think the other way around and make use of these platforms to meet your new leads. Post contents related to finance. Create groups and communities relevant to finance. These platforms also allow you to express your thoughts with your audience by means of comments. Also, you can communicate with other professionals all around the world over a single platform and develop your contact base. Later it is upto you to make them your clients.
Get Equipped with CRM :
Make use of a Customer Relationship Management (CRM) software for your RIA firm, so that you can track all your clients and audience using it. This will allow you to take actions according to your client’s position and track their assets. There are several CRM software available, which you can make use of.
You can also get the assistance of any digital marketing agency who would do all these on your behalf to increase your AUM.