Five things our most successful partners have mastered

Five things our most successful partners have mastered

February 7, 2022

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XY Adviser facilitates an environment for product providers to share their value in a meaningful way. Since inception in 2014 we’ve delivered many content experiences, and as the XY ecosystem grows, the number of content experiences advisers actively seek out from XY grows further. We’ve noticed a few common themes among our clients who have taken advantage of the ‘new world’ advice operates in – they have all mastered the five strategies below.

Cut Through
The moment you hear the term ‘share of voice’, as a marketer – you’ve lost the battle before the war of attention has even begun. If you consider the product provider ecosystem in Australia, there are around ten platforms, ten insurance companies, ten tech companies, and one thousand fund managers. Collectively these companies make approximately $25b from the decisions made by financial advisers each year. A such, around half a billion dollars per year is spent to access this revenue. Some companies have larger budgets than others, but each of them has a long list of expense items. Internal teams of sales, marketing, research, and data is compounded on to external services. This results in almost $30,000 being spent on attempting to gain the attention of each adviser, every single year. From the adviser’s point of view, they are well past the point of overwhelm. It’s why advisers employ different strategies to actively distance themselves from that marketing spend as much as possible. And if your marketing efforts make it past the adviser’s avoidance strategies, the last thing you want is to share that attention with any other company. To get any kind of cut through, you need to make sure your message has it’s time in the sun. A banner ad amongst 10 other companies will simply not do the job.

Advanced Retargeting
Advisers spend on average eight minutes per day on the XY platform sharing and learning, but we are very aware they spend the same amount of time on Linkedin. We aren’t the only online platform in town, and fully support a multi-platform approach to your marketing strategy. XY stands out in the fields of creating content experiences advisers actively seek out – it’s why we are the #1 online ecosystem for financial planners in the country. But we know many great advisers are using Linkedin too. As such, once our Content Specialists have worked with your team to create great educational outcomes, we can help with expanding the reach of the content beyond the XY ecosystem. Whether on Linkedin or the trade media, our clients have achieved great success by taking our content and expanding the reach beyond our ecosystem.

Leaning on our Content Specialists
Generally speaking, we don’t see a clear trend of financial advisers moving across into product provider marketing roles. As such, most of the content designed to speak to financial planners isn’t coming from a source familiar with the nuances of the job. There is a certain air of familiarity when content is generated from those who are current and former specialists in a field. And advice is no different. Like all professions, the further you head up the value chain in financial advice, the harder it is to learn from anyone else but your peers. It’s here XY Adviser really excels. From the founders all being financial advisers, to our important roles all led by those with a background in advice, our view is simple – it takes an adviser to know an adviser. We know advisers actively avoid marketing and advertising. We know advisers are notoriously difficult to reach. We know there’s a certain level of expertise required to capture their attention. And we know this positioning is difficult to replicate. This is where our team of Content Specialists come into play. Only content created internally by XY makes its way out into distribution. We operate as a filter to ensure only high value content is consumed by advisers, and then limit the amount of content distributed. The high-value and selective nature of our distribution channel is why advisers consistently come back to learn more.

Year Round and Multi Year
Our education partners who receive the most benefit from our work together take a long-term approach. Rather than aiming for a stand-alone marketing campaign with the same old tired approach, partners who deploy content across an entire year achieve the best top-of-mind results to build brand and build leads. Our results show, to maximise your audience you should aim to be visible across the year. Creating a content calendar with our Client Success team allows us to project manage the roll out of your messaging in a way that benefits your company the most. Working with us across multiple years allows us to compound the lessons we learn together, and then lean on data driven decision moving forward.

Understanding Cost of Acquisition
One of the most surprising results to come out of working with so many clients over the years, is the lack of data most product providers have around their cost of acquisition. Most industries outside of financial services have clear cost of acquisition metrics, but as this industry is only now going through a much needed decades-long technological shift, these metrics are still sparse. Our goal is to change this. The level of waste in financial services marketing only creates a more difficult environment for advisers. Interrupting advisers from delivering to their clients should not be the goal. In a perfect world, the most successful product providers should be the ones helping advisers achieve the goals of delivering more value to their clients and receiving more value in return. In these efficient marketplaces, we can prove the best way to succeed is by helping advisers succeed.

To learn more about how we can help your campaigns go above and beyond their full potential, contact us here.

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