In short, SEM is a digital marketing strategy that involves placing ads on search engine results pages (SERPs) to increase your brand's visibility. Let's dive into the basics of SEM and when it makes sense for financial advisors to use it.

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What is SEM?

SEM is a type of pay-per-click (PPC) advertising that allows you to bid on certain keywords related to your business (think: Google Ads). When someone searches for those keywords on a search engine like Google, your ad will appear at the top of the SERP. You'll only pay when someone clicks on your ad, so you're not wasting money on impressions that don't lead to clicks.

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When should financial advisors leverage SEM advertising?

Year-round Brand Visibility: If you want to maintain a consistent online presence and ensure that your brand is always visible to potential customers, running SEM campaigns year-round can be beneficial. This approach helps capture ongoing search traffic and keeps your brand top-of-mind. This scenario works best for up-and-coming advisors with little brand recognition who are trying to build a local presence.

💡 Quick tip: By ensuring your brand is constantly in search results, you have a higher chance of potential clients remembering your name or service when needed. This is known as the "Rule of 7" in marketing, where a customer typically needs to encounter a brand at least seven times before taking action.

Event Promotion: This can be used to supplement Facebook seminar marketing and help advisors generate interest and registrations around other events by creating specific ad campaigns leading up to the event to maximize attendance. This scenario would work best for regularly recurring events (like on-demand or evergreen webinars) or events scheduled in advance. We’d want to run at least two months of PPC ads in these scenarios.

💡 Quick tip: Complementing your Facebook seminar marketing with a Google SEM campaign can enhance your visibility exponentially. This strategy helps you establish a strong presence on Google, an avenue competitors overlook. While Facebook is known to be saturated with advisor marketing (because it works!), Google offers a new audience segment waiting to be engaged.

Targeted Lead Generation: When the goal is to specifically attract and convert potential clients who are genuinely interested in your services, an SEM strategy tailored for lead generation becomes indispensable. You can direct high-quality traffic to your landing pages or offerings through precise keyword targeting and compelling ad copy. This approach is especially valuable for advisors with niche markets or looking to expand into specific market segments.

💡 Quick tip: Using SEM for lead generation lets you tap into a user's search intent. When someone is actively looking for advisory services or solutions you offer, your ad can be there to meet that demand head-on. Remember, it's not just about quantity but the quality of leads that can truly drive growth.

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A real-life example of using SEM to generate leads:

Business Context:

John is a financial advisor with over a decade of experience. Recently, he started his own advisory firm, "FutureFin Financial Planning." He specializes in retirement planning, wealth management, and tax-saving strategies.

Goal:

John is aiming to grow his client base, especially targeting individuals aged 55-65 who are on the cusp of retirement or have recently retired.

1. Understanding the Target Audience:

John identifies his primary audience as individuals aged 55-65, possibly having just retired or planning to do so in the next 5-10 years. They are keen on securing their finances for the retirement phase of their life.

2. Keyword Research:

Using Google Keyword Planner, John identifies keywords tailored for this age group:

• "retirement planning for 60 year olds"
• "financial advice for nearing retirement"
• "best financial advisors for retirees"
• "secure retirement investments"
• "maximizing retirement savings"

3. Ad Creation:

John crafts ads that resonate with this audience's concerns:

• "Ensure a Secure Retirement with Expert Advice."
• "Maximize Your Savings for the Golden Years."
• "Navigating Financial Planning Post-Retirement."
• "Turn Your Savings Into a Retirement Dream."

4. Landing Page:

Clicking on the ads brings potential clients to a landing page, which includes:

• An introduction video where John addresses common financial concerns of those nearing or entering retirement.
• Testimonials from retirees who've benefited from his guidance.
• A free downloadable guide on "Making the Most of Your Retirement Savings."
• A clear CTA: "Schedule Your Retirement Strategy Session Today!"

5. Targeting and Bidding:

• Geo-Targeting: John targets the city he's based in and its neighboring regions, where he knows a significant portion of the demographic resides.
• Ad Scheduling: Given his audience might be more flexible with their time, John schedules ads to run throughout the day but emphasizes early mornings and late afternoons.
• Bid Strategies: John employs the Target CPA strategy, ensuring that he's getting value for each lead.

6. Retargeting:

John sets up a retargeting campaign, targeting individuals who engaged with his landing page but didn't schedule a session, reinforcing the importance of timely retirement planning.

7. Testing and Optimization:

A month in, John reviews the metrics and finds that ads highlighting "security" and "peace of mind" resonate more with his audience. He refines his ads to emphasize these aspects further.

8. Integration with Other Channels:

John initiates an email campaign for those who downloaded his guide, offering deeper insights into post-retirement wealth management and the importance of a tailored strategy at this life stage.

Outcome:

Within a few months, John noticed a 45% rise in strategy sessions booked through his SEM efforts. Many of these leads express gratitude for the tailored approach and eventually become long-term clients.

In summary, SEM is a digital marketing strategy that allows you to place ads on search engine results pages to increase your brand's visibility. Financial advisors should use SEM to maintain a consistent online presence, supplement other marketing efforts, and generate high-quality leads. By understanding the basics of SEM and tailoring it to your business objectives, you can achieve a strong return on investment and drive growth for your practice.