Financial Advisors: Don’t Miss Mark with Your Marketing

Written By : Clifford Blodgett

When you hear all the buzz about online marketing, you might think to yourself, “Yeah, but that’s for businesses that cater to younger demographics. Most of my prospects are getting close to retirement…. no way would I reach them via email or on social media!”

It’s an understandable conclusion, and a common one. The problem is, it’s also very, very wrong. Older Americans are flocking to sites like Facebook and LinkedIn at ever-increasing rates, and most of them are checking their email daily. You could be missing out on a lucrative marketing opportunity if you ignore posting on social media sites and contacting clients directly through email.

Not to mention, if you don’t stay in touch with your prospects online, another advisor surely will.

Consider the following statistics:

• Older people (aged 50 and up) make up one-third of the 195 million internet users in the United States.
• Two-thirds of Americans aged 50 and up shop online.
• Baby Boomers (age 47-65) spend an average of 27 hours a week on line – that’s two hours per week more than Millennials(16-34)!
• 89 percent of senior citizens (age 65 and over) use email regularly.
• Smart phone use in older Americans is growing – 36 percent of Americans over age 50 have one of the increasingly popular popular gadgets.
• The number of senior citizens using the internet increased 55 percent between 2004 and 2009, and is still growing.
• 27.4 million Americans age 50 and older engage in social networking.
• In 2011 alone, Baby Boomers increased their use of social media by 60 percent.
• Internet users aged 74+ have experienced the fastest growth in use of social networking sites, which has quadrupled since 2008.
• Baby Boomer site the internet as the most important source of information when researching major purchases.
• 41 percent of Baby Boomers search for financial information online.
• 44 percent of those age 66-73 get their financial information online.

As you know, the best way to reach your prospects and keep in touch with current clients is by communicating via their preferred method. Considering the above statistics, and the fact that our society is becoming increasingly dependent upon online communications, it’s easy to see that financial advisors need to jump on the information highway – or risk being left behind as the competition speeds away.

Sources:

http://www.govdelivery.com/blog/2012/07/tech-savvy-senior-citizens-on-the-rise/

http://www.immersionactive.com/resources/50-plus-facts-and-fiction/

Filed under: Financial Advisor Marketing