How To Boost Your Marketing Using Online Reviews Current customers can be one of your best sources of promotion. Here's how to get your clients to help you market your financial advisory services online.
Table of Contents Introduction: Why Online Reviews Can Make a Big Difference for Your Financial Advisory Business Getting Started – Items to Consider Before Asking Clients for Reviews The Most Popular Online Review Platforms Tips for Getting More Reviews Online How to Quickly Attain and Maintain Your Online Review Strategy About Financial Media & Marketing 3 4 6 12 22 24
[email protected] • Financialmedia.marketing • 877-799-3433 For Professional Use Only FMM2022DominateRev 3 If you operate a financial services practice, you’re likely familiar with how important it is to have positive reviews online. These comments can signal to others – mainly potential new clients - that you’re doing an excellent job for your current customers, and in turn, could also do the same for them. Just like with other types of online marketing, more good reviews can mean more leads, more sales, and ultimately more revenue for you and your business. Plus, more “traffic” online linked to your practice can lead to even more people finding you. Statistics show that online reviews can not only help you to connect with customers but also to: • Improve your brand image • Increase consumer trust in you • Encourage additional buying recommendations Introduction: Why Online Reviews Can Make a Big Difference for Your Financial Advisory Business • Appear higher and more frequently in the online search engine rankings • Have prospects schedule appointments with you directly online The good news is that generating highquality online financial advisor reviews is easy with the Credkeeper™ application – and getting the process started doesn’t take nearly as much time as you might think – especially if you have an experienced guide to walk you through the process. After reading through these tips on generating more online client reviews, you will know exactly how and where to get started – and you can stand out from your competition - with the positive reviews you receive online.
For Professional Use Only FMM2022DominateRev [email protected] • Financialmedia.marketing • 877-799-3433 4 It’s nice to be complimented for your work – especially if those kind words can lead to even more happy clients. Statistics show that more than 90% of customers read online reviews before purchasing a product, and 93% of consumers state that online reviews influence their buying decisions. 91% of 18 to 34 year old’s trust online reviews as much as they do personal referrals or recommendations. So, having these available for potential customers to view could make a big difference in how much – and how quickly – your business will grow over time. A concept known as “social proof” refers to the level of credibility that the public provides to a product or service. In this case, the more people who use or like something they have purchased, the more likely others are to follow. Further, studies have shown that online reviews are among the key drivers for consumers to find local businesses, with approximately 97% of people using online media to research products and service providers in their local area. Before you start using an online platform to ask for and generate reviews, you must understand many of these services’ policies. It is also possible that you will have to open an account with the platform you are using. For example, if you opt to use Google for obtaining reviews online, you will be required to open a Google My Business (GMB) account and make your business a place on Google Maps. Doing so will help prospects and customers find your physical location. You will also have to verify your GMB (Google My Business) profile. Getting Started – Items to Consider Before Asking Clients for Reviews
[email protected] • Financialmedia.marketing • 877-799-3433 For Professional Use Only FMM2022DominateRev 5 Another item to consider is that not all reviews you receive may be good – and there is a cost to receiving negative feedback, mainly if it is evident online. For instance, based on a 5-star rating system (where 5 is the best), only a mere 13% of consumers will consider using a business that has a 1 or a 2-star review from a previous customer. In addition, more than 90% of consumers say that a negative online review has convinced them to avoid doing business with a product or service provider, and four out of five have changed their minds regarding an online purchase upon reading negative online reviews. A business could lose up to 22% of its customers when even one negative article is found online by potential purchasers of their products or services – and if three negative pieces are discovered, this lost customer figure jumps to more than 59%. So, keeping negative online reviews at bay is a must for your financial services practice’s current and future success. With so many people active in the online arena today, another concern for businesses is receiving fake reviews. These often malicious reviews can significantly impact the credibility of your products or services – even if the comments are not legitimate. You can often spot false reviews when: • The reviewer does not provide any profile information about him or herself • There are links to other websites in an attempt to lure people away from your company • The same or very similar reviews are repeated when left for other businesses What customers say in their online reviews can also make a big difference. And while you can’t always influence what is said about you online, some ways may be better than others when it comes to asking for reviews from your customers. Following the strategies in this guide can help.
For Professional Use Only FMM2022DominateRev [email protected] • Financialmedia.marketing • 877-799-3433 6 As the number of websites and online apps increases, the options for giving and receiving reviews via the Internet also continue to rise. Some of the most popular of these review sites include the following: • Google My Business (GMB) • Credkeeper • Trustpilot • Yelp • Yahoo • Better Business Bureau (BBB) The Most Popular Online Review Platforms
[email protected] • Financialmedia.marketing • 877-799-3433 For Professional Use Only FMM2022DominateRev 7 Google is the world’s most popular search engine. Google’s algorithms rank web pages by keywords and the content provided, and how many other websites and web pages are linked into and out from them. Having a Google My Business (GMB) account can help potential customers find you. This free online platform provides your company’s profile, contact information, and directions to your business location(s), along with providing a link to your website and customer reviews. The reviews are based on 1 to 5 stars, with 5 being the best. Reviewers may also add more information about their experience with your business. As the business/company profile owner, you can also respond to reviews left by customers and share any updates. Credkeeper™ is a patented application that influences a User’s online reputation, credibility and visibility. Users can sponsor content which is then published on any number of affiliated websites and distributed by the Credkeeper application’s social media automation and potential drip email marketing integrations. These articles are used to compel consumers to leave reviews on the User’s profile page. In addition, users with a Credkeeper account may respond to the reviews and influence which reviews are promoted. In certain instances, Users can also mark false or misleading reviews as SPAM, thereby eliminating erroneous and damaging reviews left in error or by a competitor. Google My Business (GMB) Credkeeper™
For Professional Use Only FMM2022DominateRev [email protected] • Financialmedia.marketing • 877-799-3433 8 Trustpilot is an open, online review platform. Any customer who has experience dealing with a particular business – which includes purchasing products and services – may review the company using Trustpilot. In addition, companies that use the Trustpilot platform may respond to the reviews that the customers leave. There is no cost for companies to use Trustpilot. Businesses and consumers from around the world can use this online service to share their experiences and help others decide whether or not to move forward with a transaction. This platform uses a 5-star rating system (with 5 stars being the best). Currently (as of mid-2021), more than 120 million reviews can be found on Trustpilot from customers in 47 different countries. Yelp is another popular online review site that helps to connect customers and local businesses in a wide range of industries, including home services, auto repair, hair salons, gyms, and financial services. This website also offers news stories that can help consumers learn more about what’s going on in the economy and timely posts about changes that are taking place (such as updates on how businesses are responding to customer needs during the COVID-19 pandemic). Additional information that a consumer may find on Yelp – and that can help consumers feel more comfortable with their decisions - includes: • Health scores • Emergency room wait times • Availability of gender-neutral restrooms Yelpusesanautomatedrecommendation software that is designed for identifying and recommending the most reliable content. This can help reduce or eliminate misinformation on the site that could needlessly harm a company’s reputation. Trustpilot Yelp
[email protected] • Financialmedia.marketing • 877-799-3433 For Professional Use Only FMM2022DominateRev 9 Consumers can also leave reviews about businesses on Yahoo. It is necessary to have a Yahoo email account to do so. Companies may be rated on a scale of 1- to 5-stars, with 5 representing the best products or services. Yahoo
For Professional Use Only FMM2022DominateRev [email protected] • Financialmedia.marketing • 877-799-3433 10 The Better Business Bureau, or BBB, was initially founded in 1912 to ensure ethics, public education, and truth in advertising. In fact, at the time of the organization’s inception, its most significant concern was the questionable advertising of stocks and other investment offers. Today, the Better Business Bureau (BBB) focuses on setting standards for marketplace trust, calling out and addressing substandard marketplace behavior, and encouraging and supporting best practices by engaging with and educating consumers and businesses. Consumers may leave reviews about a company directly on the BBB’s website. It is also possible to file a complaint through the Better Business Bureau (and for the BBB to help with obtaining a resolution). Likewise, consumers can report scams on the site, as well. BBB reports can help warn others about an offer or a company that appears to be a fraud. Companies accredited with the Better Business Bureau are awarded grades – similar to a school report card – from A+ to F. The BBB also provides information on the type and number of complaints filed about a company in the last three years and the number of complaints that have been closed in the past 12 months. Customer complaints are further divided into different categories, including: Better Business Bureau (BBB) • Advertising / Sales • Billing / Collections • Delivery Issues • Guarantee / Warranty • Problem with a Product or Service Other Online Review Alternatives In addition to websites that focus on providing reviews, posting information about a company, product, or service via social media is also possible. For example, “social reviews” may be left on popular sites like Facebook and YouTube. Facebook offers a link for leaving reviews on its sidebars. Once a consumer has noted the business’s name, they may click on Yes or No, concerning whether or not they would recommend the company. A more in-depth review can be left, and someone may also tag people or businesses. Suppose your practice provides any videos on YouTube. In that case, viewers can scroll to the comments section (below the video) and add information, including a review of your business, products, and services. YouTube also allows viewers to click on either a thumbs-up or thumbs-down to indicate their likes or dislikes of the video.
[email protected] • Financialmedia.marketing • 877-799-3433 For Professional Use Only FMM2022DominateRev 11 Which Online Review Websites and Social Media Platforms are You Currently Using? Platform Currently Using Plan to Use in the Future Google My Business (GMB) Credkeeper™ TrustPilot Yelp Yahoo Better Business Bureau (BBB) Facebook YouTube
For Professional Use Only FMM2022DominateRev [email protected] • Financialmedia.marketing • 877-799-3433 12 From the consumer’s viewpoint, companies that offer online reviews – along with opportunities to leave reviews for others to see quickly – are typically businesses that are confident about providing high-quality products and services. But, if you want more online reviews, you need to make it easy for customers to do so. Even if your customers have had a stellar experience with you and your practice, they won’t typically leave a review unless they are prompted to do so. Therefore, instead of waiting for customers to volunteer a review, you can ask them if they would like to leave one on your website. Tips for Getting More Reviews Online One study found that 68% of customers will leave a review when asked. With that in mind, if you go about asking correctly, you could significantly increase the total number of reviews you receive. Some of the best ways to do so include the following: • Texting a review invitation • Providing a link to a review “shortcut” • Knowing the right time to ask • Automating the review process • Posting a “sign”
[email protected] • Financialmedia.marketing • 877-799-3433 For Professional Use Only FMM2022DominateRev 13 • Training others in your business to ask • Following up with customers • Using pop-ups on your website • Sending requests to your current or previous customers • Managing your company’s current reviews • Taking action on suggestions made in reviews • Thanking customers for leaving a review • Having a review link on your website • Running an email campaign asking for reviews • Including a review link in your email signature • Taking surveys of current customers • Asking for reviews on your social media page(s) • Sharing/making positive reviews more visible • Getting reviews from business partners • Providing good service to your clients • Working with a marketing team
For Professional Use Only FMM2022DominateRev [email protected] • Financialmedia.marketing • 877-799-3433 14 It is estimated that more than 40% of consumers prefer text communication versus only 18% who prefer email. So, texting customers and asking them to leave a review could be all the prompting that many people need to move forward. If you work with customers in person, you could post one or more signs asking for reviews in your office, waiting room, reception area, or other spots where people are likely to see these notifications, and in turn, trigger the review process. Consumers are often more likely to respond to requests if the process is convenient. In this case, creating and providing a link for customers to leave a review on Google, Trustpilot, or other platforms can increase the number of comments you receive. Automating the customer review process can save you time while still increasing your clients’ likelihood of receiving reviews. Messages can be sent automatically via email or text, so your clients can even choose how they respond. As with many other situations, knowing WHEN to ask customers for a review can make a tremendous difference in whether or not they take action and what they say if they move forward with leaving a review. Often, the best time to ask for a review is after a sale has closed or a strategy completed, and the customer is happy about moving forward and meeting their desired objectives. Texting a Review Invitation Posting a “Sign” Providing a Link to a Review “Shortcut” Automating the Review Process Knowing the Right Time to Ask for a Review
[email protected] • Financialmedia.marketing • 877-799-3433 For Professional Use Only FMM2022DominateRev 15 A receptionist or other team members in your office could also ask for customer reviews at different points in the process of working with them. Even if customers do not leave a review right away, having this added “reminder” from an associate can help condition them when you inquire via text or email at a later date. By engaging more with your customers, you and your team members have other potential benefits, too, such as forging deeper client relationships. This, in turn, could lead to clients adding more of their assets for you to manage or referring others for your advisory services. Sometimes, all people need is a gentle reminder to complete a customer review. So, if someone has not responded to your initial request for a review, a “pleasantly persistent” nudge could be all that they need to move forward with, leaving you a review later on. It can also help if you remind customers how their review could end up benefiting them. For example, giving their opinion can help you enhance your services so that all customers – both current and future – may be better served in the future. Training Others in Your Business to Ask Following Up with Customers
For Professional Use Only FMM2022DominateRev [email protected] • Financialmedia.marketing • 877-799-3433 16 In addition to texts and emails, including “pop-ups” on your website can also help to increase the number of reviews you receive from customers. These ads actively engage viewers, and they can often spark an immediate call to action by site visitors. If your goal is to collect more reviews, it is essential to let your customers know that their opinions matter to you. There are several ways to manage reviews, such as responding to negative ones within 24 hours (or ideally, even less time) or calling and thanking those who leave you positive and informative feedback. In addition to asking your current customers for reviews, touching base with past clients could not only add to your list of reviews, but it could also result in some of these individuals coming back and using your services again. Based on the information that you receive from both positive and negative reviews, taking action on this feedback is crucial. To take it a step further, you could also publicize these changes on your website, as well as on the social media platforms that you use, such as Facebook, Instagram, and Twitter. Doing so will let your customers know that you are hearing them, that their feedback is precious, and that you are responding quickly to their comments and concerns. Using Pop-Ups on Your Website Managing Your Company’s Current Reviews Sending Requests to Your Current or Previous Customers Taking Action on Suggestions Made in Reviews
[email protected] • Financialmedia.marketing • 877-799-3433 For Professional Use Only FMM2022DominateRev 17 In addition to taking action on your customers’ suggestions and publicizing the changes you’ve made, you must let them know how much you appreciate their feedback both in-person and online. You could even send these customers a hand-written note of thanks, too – which is much more personalized. Adding a review link directly on your website can make it easier for people to leave their comments. The best financial advisor websites have widgets and and tools in place proactively soliciting reviews from your website visitors. By simply clicking on the link and leaving a review, the whole process may only take the client a few minutes or less to complete. If you don’t like the idea of having a review link placed on the central portion of your website, you could instead place one at the bottom of the page in the “footer.” That way, the link is still live and available for clients to use. You could also include an instructional video on how to leave a customer review on your website. That way, those unfamiliar with online technology can walk through all of the steps, making it easier for them to leave you feedback. (Otherwise, if the process appears to be too technical, it could become frustrating and overwhelming for some – which may even prompt them to abandon the process of leaving you a review). Thanking Customers for Leaving a Review Having a Review Link on Your Website
For Professional Use Only FMM2022DominateRev [email protected] • Financialmedia.marketing • 877-799-3433 18 While text messaging has overtaken emails over the past few years, the latter is still a highly sought-after mode of communication. So, running an email campaign that asks for customer reviews can certainly be an easy, lowcost method of adding to your collection of feedback. Like having a review link on your website, you could also place one in your email signature. Financial advisors and other professionals will often have a “signature” automatically placed at the bottom of emails sent out to clients and prospects. The signature typically includes their name, contact information, website address, and any professional designations earned, such as the CFP® (Certified Financial Planner™). Simply adding a live link on your email signature for customers to leave a review can make it fast and easy to collect more feedback from those you serve – and for any potential clients, you have emailed to check out the reviews you have received. Often, customers enjoy being asked their opinion. Collecting feedback through a customer survey can allow your clients to provide their thoughts, as well as to leave you an excellent review. Running an Email Campaign Asking for Reviews Including a Review Link in Your Email Signature Taking Surveys of Current Customers
[email protected] • Financialmedia.marketing • 877-799-3433 For Professional Use Only FMM2022DominateRev 19 As of mid-2021, nearly 4 billion people worldwide use social media every day. This equates to about 48% of the population. This number is expected to keep growing. In addition, it is estimated that the average consumer spends approximately three hours per day on various social media platforms. One of the biggest reasons for this high social media usage is that users can access it from many devices, including computers and laptops, smartphones, tablets, and more. So, it is likely that your customers are included somewhere in these statistics. Therefore, it makes sense that you engage with your customers on various social media platforms – and that you also include in this communication a request for them to leave you a review. You could start this campaign by posting a screenshot of a positive review that you have already received and then ask your clients to leave their feedback in a similar format. Here, too, would be an excellent place to add a “how to leave a review” video for customers to follow. Making positive reviews more visible could also entice other customers to leave their feedback. There are several ways that you can make your reviews more noticeable – both online and off - such as: • Posting them on your website • Highlighting them on your social media pages • Physically posting them in your office on a bulletin board or spot on the wall (ideally in an area that prospects and clients frequent, such as in a waiting room, lobby, or reception area) Further, you could discuss the customer reviews that you have received in your regular staff meetings. This could entice your team members and associates to ask for more customer reviews going forward. Asking for Reviews on Your Social Media Page(s) Sharing / Making Positive Reviews More Visible
For Professional Use Only FMM2022DominateRev [email protected] • Financialmedia.marketing • 877-799-3433 20 If you do joint work with other professionals, such as attorneys and accountants, you could ask for reviews from these individuals (possibly in return for a review about them from you). Doing so could help to cross-market among all of the professional advisors. Therefore, going this route could benefit the advisors and the customers. Getting Reviews from Business Partners and Colleagues It should go without saying that one of the best ways to generate good reviews is to provide good service to your clients. Many people who work in the financial services field simply sell products to anyone who will buy them. If you stand out as a professional who is genuinely working towards solving your clients’ needs and helping them to reach their short- and long-term financial goals, it is likely that your customers will trust you, feel comfortable working with you (and referring you to others), and will leave you a positive review that you can post online to show others what you can also do for them. Asking for and collecting reviews from customers can be a time-consuming endeavor. But the time spent on this task does not necessarily have to be yours. Working in conjunction with a company specializing in online marketing for financial advisors can allow you to focus on helping your clients with their needs while still generating an ample number of reviews. While numerous companies focus on providing online marketing services, not all are well-versed in the financial services and retirement income planning arena. That is why it is essential to research several marketing firms so that you can narrow down the one that will fit your particular needs the best. Providing Good Service to Your Clients Working with a Marketing Team
Which Customer Review Strategies are You Using? Strategy Currently Using Plan to Use in the Future Texting a review invitation Providing a link to a review “shortcut” Running an email campaign asking for reviews Website Pop-ups Social Media Invitations Knowing the right time to ask Automating the review process Posting a “sign” Training others in your business to ask Following up with customers Sending requests to your current or previous customers Managing your company’s current reviews Taking action on suggestions made in reviews Thanking customers for leaving a review Including a review link in your email signature Taking surveys of current customers Asking for reviews on your social media page(s) Sharing/making positive reviews more visible Getting reviews from business partners Providing good service to your clients Working with a marketing team [email protected] • Financialmedia.marketing • 877-799-3433 For Professional Use Only FMM2022DominateRev 21
For Professional Use Only FMM2022DominateRev [email protected] • Financialmedia.marketing • 877-799-3433 22 The Internet offers the opportunity for financial advisors to market locally and across the country - even around the globe. But unless customers feel that you are knowledgeable and trustworthy, your business might not stand out from the competition – and in turn, you could be passed over. One of the best ways to build trust is to show how you have helped others with their short- and long-term financial goals – and a great way to provide more in-depth details is through customer reviews. Making reviews, a part of your overall work process, can prove beneficial for your business. How to Quickly Attain and Maintain Your Online Review Strategy One way or another, potential clients will likely decide whether or not to do business with you based on what others are saying about your products or services. Therefore, it makes good sense to get involved by obtaining good, thoughtful, and valuable online reviews from your clients. The Credkeeper™ application is likely the most accessible and complete review management system available to financial professionals. Coupled with Google My Business and other review platforms, an advisor can proactively create the online presence their competitors will be envious of. Gathering, posting, and maintaining reviews can take time, though. By delegating this (and other) marketing strategies to a knowledgeable and experienced team like Financial Media & Marketing, you can achieve a win-win situation for all involved. There is no need to become a web building or online marketing expert when you can partner with a team that can handle this aspect of your business while focusing on what you do best. At Financial Media & Marketing, our team possesses decades of combined experience, along with a highly evolved understanding of how to market your financial advisory business effectively.
[email protected] • Financialmedia.marketing • 877-799-3433 For Professional Use Only FMM2022DominateRev 23 We already “speak the language” of the insurance and financial planning niche, so your website and other marketing materials will be written and produced with education and compliance in mind. We offer a wide range of other services for marketing your practice, too, including: • Search engine optimization (SEO) • Website copy and other copywriting services • Custom content generation • Brand identity • Customized video production • Website building • Lead generation • Customized mailing lists If you would like to learn more about how to attain – and maintain – more visibility for your financial services business, contact Financial Media & Marketing today by calling 877-799-3433 or sending us an email to [email protected] We will get back to you with answers to any of the questions that you have. We look forward to assisting you.
For Professional Use Only FMM2022DominateRev [email protected] • Financialmedia.marketing • 877-799-3433 24 At Financial Media & Marketing, we look at marketing for the financial industry differently, and we want to help you work smarter, not harder, for your leads. So, we offer top-tier creative and marketing services and turn-key, customized solutions – from SEO to lead generation and large web-based platforms – that elevate your online brand, credibility, and presence. Because when you succeed, we all succeed. Our proven and highly effective marketing campaigns and lead generation systems can be coupled with our patent-pending software applications that enhance the visibility and credibility of licensed financial professionals. This, in turn, can help you to close more business. When you partner with Financial Media & Marketing, you’re not out there on your own. We partner with carriers, IMOs, FMOs, broker-dealers, RIAs, agencies, and directly with insurance and financial professionals. In addition to leads and marketing, we also help you close more business and develop a consistent flow of referrals from highly qualified prospects. Just some of our other services include: • Website copy creation • Logo and design • Customized videos • On-demand seminars About Financial Media & Marketing • Mailers • Search engine optimization (SEO) • Custom content creation (for white papers and eBooks) • Brand identity Find out how Financial Media & Marketing can help you. Send us an email by going to [email protected] You can also visit our website at https://financialmedia.marketing
[email protected] • Financialmedia.marketing • 877-799-3433 For Professional Use Only FMM2022DominateRev 25 Online reviews statistics to know in 2021. By Diana Kaemingk. October 30, 2021. https://www.qualtrics.com/blog/online-review-stats/ Nearly All Consumers (97%) Now Use Online Media to Shop Locally, According to BIA / Kelsey and ConStat. New study reveals local consumers access an increasing number of online media sources before buying; the use of online coupons and appointment scheduling is on the rise. CISION PR Newswire. March 10, 2010. Nearly All Consumers (97%) Now Use Online Media to Shop Locally, According to BIA/Kelsey and ConStat (prnewswire.com) Earning your trust. Always. Yelp. https://trust.yelp.com About Us. Better Business Bureau (BBB). About Us (bbb.org) 33 Quick Tips to Dominate Google Reviews. Podium. https://www.podium.com/guides/dominate-google-reviews/ Local Consumer Review Survey 2020. BrightLocal. By Rosie Murphy. https://www.brightlocal.com/research/local-consumer-review-survey/ 10 Social Media Statistics. 10 Social Media Statistics You Need to Know in 2021. Oberlo. By Maryam Mohsin. April 5, 2021. Sources
For Professional Use Only FMM2022DominateRev [email protected] • Financialmedia.marketing • 877-799-3433 26 Financial Media Marketing 4590 Deodar Street Silver Springs, NV 89429 [email protected] financialmedia.marketing
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