“Fix your broken windows to better reflect your brand.” It was direct marketing tips from Rebecca Hourihan, founder and CMO of San Diego-based 401(k) Marketing, LLC.
Hourihan was on hand at Excel 401(k): The Advisors’ Conference in Las Vegas on Monday morning to address 401(k) advisor marketing and what advidors are doing both good and bad, right and wrong.
“The first thing to fix the aforementioned broken windows is by making sure all your marketing and branding materials look consistent and professional,” she said. “It should all look and feel the same. Do a ‘brand audit’ to make sure you understand how a plan sponsor and plan participants view your material to ensure that whether it’s the first time or the one millionth time, it’s a pleasurable experience for them.”
A second point she imparted to the 401(k) advisors in attendance was that the internet is “editable,” and building a digital brand that ranks near the top requires consistency.
“Feed the Google machine in order to reap its rewards and rise in the search engine rankings,” Hourihan said.
This means optimizing the advisor’s LinkedIn profile, posting a business biography, and posting anything an advisor can on YouTube.
“What too few people realize is that while Google is the No. 1 search engine, YouTube is the No. 2 search engine, which makes sense since Google owns YouTube,” she explained.
Marketing tips like video vignettes and other compatible content significantly enhance an advisor’s search engine profile.
“The third point I’d like to share is that marketing is a journey that never ends,” she added. “In the eyes of prospects and clients, advisors go from unknown, to recognized, to familiar, to known and finally to trusted. We’re all at different points along the way. Clients know, love and trust you, as do your centers of influence. This is where the best referrals will develop.”
She noted this last point is “tough within the 401(k) industry,” because plan sponsors don’t intuitively understand the need for 401(k) advisors. They and must be educated as to why advisors are important, which is a decrease in risk and increase in plan participation they can help provide.
401(k) marketing “helps retirement plan advisors market their expertise and build lasting brand awareness,” Hourihan concluded.
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
