We recently got the chance to chat with Bill McGuire, managing director of W.M.McGuire, providing full-service marketing support to the Registered Investment Advisors (RIA) community for our “Financial Advisor Website Showcase” series blog.
Plectrum Advisers is focused on the studio musician community with the premise of offering first-hand knowledge and insight designed to create a secure financial future. From their marketing strategies to their website design, find out what they had to say about the process.
1. The financial industry has changed a lot in the almost 3 years since you launched your website. Where have you seen the greatest changes and how have you catered your marketing strategies to keep up with the constantly changing industry?
The biggest and current challenge is the inability to meet in person, of course. We are all navigating how to adapt. The easy part is getting set up with the many virtual communication tools and resources, however, the real work comes in planning and management. We’ve increased our effort dramatically and the response has been very positive. However, we are also mindful of the results We conduct monthly after-action assessments to see:
- What Worked
- What Didn’t Work
- What Need Changing
Good marketing takes time and is both a mix of science and art. It’s all about learning what works, what does not and finding ways to constantly improve your efforts. It sounds simple, but it’s not.
2. We constantly preach the importance of tailoring your marketing and communications to a unique niche, and Plectrum Advisers certainly does that, as you all cater to freelancers and musicians. Can you discuss how this niche has changed over the last 3 years especially amidst the COVID-19 pandemic?
Yes, we are very fortunate to have a very specific niche, not everyone does. While the niche has changed recently because of musicians not being able to perform, the long term investment advice the Plectrum Advisers offers has not changed that much. In fact, just prior to COVID-19, we had created a 5 Things Every Freelancer Needs To Know About Finance Guide that summarized this advice.
3. Video is the #1 type of content right now especially amid COVID-19 so we love to see that you’ve embraced the trend and have a dedicated video section on your website now. Tell us – how has your video process evolved since launching your website and what sort of engagement are you getting from your videos?
Anything with video has been the most successful. Because Tom Rizzo already had a lot of insight and experience in this area, we have had a lot of fun producing content. We record videos from Tom’s studio and are just finishing our first podcast with a guest interview. We’re also always looking to partner with others and recently featured as a guest on the Bellwether Hub podcast.
4. With over 30 years of experience in the music business as a guitarist, composer and arranger Pre-COVID Tom regularly shared his unique perspective and expertise as a guitarist, composer and arrangers speaking on a range of topics at universities, professional organizations, and professional music communities. With conferences and large gatherings canceled, how have you adapted this education piece to your business during COVID-19?
Yes, we are big advocates of education at any age. We did an online class with Fredonia State of New York University last year meeting with students each month and using online surveys to keep them engaged. While you are not able to make the same connection you would at a traditional conference, you can better share these recorded on-demand sessions with all of your clients and prospects in a way that you were not before.
5. We like to say that content creation is a long-term investment and we love to see that you’ve been keeping pace with your blogging efforts since 2017. Can you go into more detail about your typical blogging process and how you maintain a consistent schedule – are there certain tools you use or tricks you’ve learned over the years to make the process more manageable?
Sure, we were an early adapter to Lead Pilot which has offered the perfect combination of content and marketing automation to efficiently manage this effort. We were using MailChimp and HootSuite, both great platforms, but because they were separate from each other, it always seemed like a lot more work and harder to manage effectively.
6. A lot has changed in the last three years both in the financial industry and across all industries as a whole. How have your marketing efforts evolved and where do you see your marketing changing in the future?
While technology and tactics have changed a lot, I don’t think the foundational skills needed have. The adage “Plan your work and work your plan” may be cliché, but is often the difference between success and failure to execute marketing goals. Start by defining very specific and measurable goals. Try to set short and long term goals that are both reasonable and achievable. Next, develop a strategy that details the tactics, resources, budget, and schedule. I wrote a Twenty Over Ten guest blog post on this topic a few years back Summer’s Over: 6 Steps to Get Back to School with Your Marketing.
6 Steps to Get Back to School with Your Marketing
7. What do you feel has been your firm’s biggest accomplishment in terms of your website traffic and your marketing goals since launching 3 years ago?
We try to keep forward-thinking to make sure the website stays fresh, starting with blog postings and moving to custom landing pages. white papers guide, and now video. We tried to stay away from a “let’s do it all” approach, which often leads to less than desirable results. We research best practices, plan our work in advance and do it right.
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About the author
Blair is a digital marketing assistant at Twenty Over Ten and has a passion for uncovering what drives online traffic and the highest engagement. She follows more animals on Instagram than humans and her greatest achievement is her daughter, Grey.