Hey, it’s Brooks. Welcome to Mondays with Money Marketers. Where Wall Street meets Madison Avenue.

As a quick reminder, we specialize in retention marketing and lead generation for financial firms. 

Said differently, we help you find new clients and retain existing clients through a combination of email and content marketing.

Every Monday we’re going to share tips and tricks we’ve learned, that you can implement yourself.

Before we dive in here's a link to my calendar if you'd like to discuss how we can help you generate more business.

In today’s edition:

• Segmenting Your Email List for Maximum ROI

• How financial advisors can prepare for the “AI apocalypse” (seems a bit dramatic)

• Why aren't 529 savings plans more popular?

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LINKS WORTH A LOOK

🗣️ Marketing News & Insights

• 31 Great Content Writing Examples, Tips, and Tools (Content Marketing Institute)

• Why brand jingles are making a comeback—whether you like them or not (AdAge)

• Pizza Hut puts resumes on boxes to help job seekers get noticed (MarketingDive)

• How advisors can play a vital role — and win clients — on social media (Financial Planning)

💼 Industry News & Insights

• An ‘AI apocalypse’ is coming to investing. How financial advisors can prepare (CNBC)

• Advisors Prioritize Fostering Unified Client Relationships (401k Specialist)

• SEC fines nine RIAs for alleged marketing rule violations (Citywire)

🤔 Honorable Mentions

• CFP Board Says Its Planners Earn 10% More Than Those Without The Marks (Financial Advisor)

• Tips to Help You Spend Less (or More) in Retirement (MorningStar)

• Why aren't 529 savings plans more popular? (Investing News)

DEEP DIVE

Segmenting Your Email List for Maximum ROI: A Guide for Financial Professionals

Email marketing can feel like a puzzle at times, especially in the financial sector. You're juggling compliance, client confidentiality, and—let's face it—a lot of dry content. But what if I told you there’s a way to make your emails not only compliant but also compelling? The secret sauce lies in one word: segmentation.

When you segment your email list, you're essentially grouping your clients based on specific criteria. It’s like tailoring a suit; one size never fits all. Done right, segmentation can increase open rates, click-through rates, and—most importantly—your ROI. So, let’s dive into the nuts and bolts of email segmentation for financial professionals.

Why Segmentation is a Game Changer

First, let’s talk numbers. According to Mailchimp, segmented email campaigns have a 14.31% higher open rate and a 100.95% higher click-through rate than non-segmented campaigns. Translation: more engagement, more trust, and ultimately, more business.

For financial advisors, accountants, and wealth managers, this is particularly crucial. Your clients have varying needs, from retirement planning and tax strategies to investment management and insurance. Sending blanket emails to everyone is like using a fishing net in a swimming pool—you might catch something, but you’ll likely miss the big fish.

How to Segment Your Email List

So, how do you carve up your email list into meaningful segments? Here are some strategies tailored for financial professionals:

1. Demographic Segmentation

   • Age: Millennials and Baby Boomers have different financial priorities. Target each group with content that speaks directly to their stage in life. Millennials might appreciate tips on paying off student loans, while Boomers are probably more interested in retirement planning.

   • Location: Tax laws, housing markets, and cost of living can vary greatly depending on where your clients reside. Segmenting by location allows you to provide hyper-relevant content.

2. Behavioral Segmentation

   • Engagement Level: Separate clients who frequently open and click on your emails from those who don’t. Reward the loyal engagers with exclusive content or offers, and try re-engagement campaigns for the less active ones.

   • Service Usage: Group clients by the services they currently use—investment management, tax preparation, estate planning, etc. This allows you to cross-sell or upsell based on what they’re already interested in.

3. Client Lifecycle Segmentation

   • Prospects vs. Clients: Tailor your messaging based on where someone is in the client journey. Prospects might need more educational content and nurturing, while existing clients may appreciate updates on their portfolios or new service offerings.

   • Financial Milestones: Segment by key milestones like home buying, retirement, or sending kids to college. Providing timely advice during these life events can turn a satisfied client into a lifelong advocate.

Best Practices to Maximize ROI

• Personalize, Personalize, Personalize: Use your client’s first name, reference past interactions, and send content that genuinely adds value.

• Test and Optimize: Run A/B tests on different segments to see what works best. Pay attention to metrics like open rates, click-through rates, and conversions.

• Compliance First: In the financial industry, compliance is non-negotiable. Ensure your segmentation strategies align with all regulatory requirements, particularly GDPR and CAN-SPAM laws.

The Bottom Line

Segmenting your email list isn’t just a best practice—it’s a game changer. By taking the time to understand your clients’ needs and delivering targeted content, you’re not only enhancing their experience but also driving higher ROI for your business. So, next time you hit "send," make sure you’re not just casting a wide net. Segment your list, personalize your message, and watch the results roll in.

Remember, in the world of finance, precision isn’t just important—it’s everything. Happy segmenting!

Want to hop on a call to discuss this further? Click here to schedule a time to talk. Make it a great week, we’ll see you back here next Monday.

Best,

Brooks

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