Search Engine Optimization (SEO) is a series of activities aimed at getting your website to appear at the top of search results for specific search terms. For example, the phrase “retirement planning” is entered into the Google search engine approximately 40,000 times per month in the United States. Imagine your website being the first result that comes up every time someone types “retirement planning” into Google! If 5% of those searching for the term visited your website, that would be 2,000 visitors. If only 0.1% of those visitors converted to customers, you would have 2 new customers per month. This is the power of search engine optimization.
Although the above example is theoretical, Kitces Research on Advisor Marketing (April 2022) confirms that SEO can be a very successful strategy for investment advisors. According to the study, SEO had the lower customer acquisition cost (CAC) of all marketing tactics evaluated (where CAC represents the total cost in terms of hard dollars or the “time cost”—the number of hours the advisor spends getting a customer, multiplied by the cost of their time depending on your time). own compensation, divided by the number of customers the strategy produces).
Also, SEO ranks second in marketing efficiency, right behind customer referrals. Despite these rankings, only 22% of advisors surveyed used SEO as part of their marketing strategy.
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