ORMAND BEACH, Fla.--(BUSINESS WIRE)--Snappy Kraken, the marketing technology (martech) innovator serving financial advisors, today previewed the results of its “State of Digital 2024” report. Based on an extensive analysis of some 250 million data points from campaigns sent by 10,000 advisors, the report offers unprecedented insights into the most effective digital marketing strategies for this cohort. In particular, the findings underscore the impact of search engine optimization (SEO), email marketing and video content on advisors’ growth trajectories.
Snappy Kraken last conducted this analysis in 2021. Since then, the firm has expanded its dataset through enhancements like the Convos compliant text messaging platform and the acquisition of Advisor Websites. These enhancements have contributed to a more robust and detailed report, which offers key findings such as:
- SEO sets advisors’ websites apart. The report highlights the integral role of SEO in attracting new website visitors. The report's data reveals that advisors investing in SEO experienced a 94 percent uptick in unique new visitors to their websites. Additionally, there was a notable 93 percent increase in the number of visitors who initiated sessions, denoting enhanced engagement and interaction with the site on a monthly basis. Effective strategies include the use of long-tail keywords, maintaining an up-to-date Google Business profile, and adding a “text me” widget to drive email opt-ins.
- Email reigns supreme, but quality matters. Email remains the top-performing marketing channel. According to Snappy Kraken's data, advisors utilizing their services report that 55 percent of traffic to their websites and landing pages is driven by email marketing. However, its success is heavily dependent on the quality of subject lines. An unopened email equates to an unread message, making open rates crucial. These rates are determined by three main factors: the caliber of the email list, the effectiveness of the subject lines, and a consistent emailing frequency, ideally at least once a week.
- Video transforms email engagement. The report finds that including videos in email campaigns may lead to a 117 percent better open rate and a 120 percent higher click rate compared to text-only emails. As video consumption continues to grow, incorporating video content into digital marketing strategies is no longer optional but necessary for advisors seeking to maintain relevance and engagement.
- Texting is the best tool for immediate response. Text messaging is identified as the most efficient mode of communication, boasting a 97 percent faster response rate than email. The immediacy and personal nature of text messages make them an excellent tool for engaging clients and prospects, with shorter, more straightforward texts proving most effective.
“Our latest State of Digital Report is packed with actionable insights designed to help financial advisors drive growth through digital marketing,” said Robert Sofia, chief executive officer at Snappy Kraken. “This year's findings highlight the success of advisors who prioritize SEO, building a quality email list, and using video content to regularly engage their audience. Their commitment to consistently nurturing connections, providing value and building trust is driving outsized results. At Snappy Kraken, we take pride in equipping these advisors with the necessary tools and insights to convert marketing efforts into measurable growth.”
The report also compares the marketing activities of all Snappy Kraken-utilizing advisors to the top 20 percent performers, offering valuable insights for success. The top 20 percent are those who generate the highest email open rates, click rates, conversion rates and leads. On average, these top 20 percent of advisors manage an email list of nearly 5,100 clients and prospects, while the average list size for other Snappy Kraken users is almost 800. Additionally, they consistently run approximately four marketing campaigns per month, indicating a correlation between campaign frequency and increased lead engagement. This underscores the significance of maintaining a substantial and engaged email list while adhering to a consistent and active marketing approach.
“The results of the top advisors using our platform showcase the power of sustained strategic marketing efforts,” added Angel Gonzalez, chief marketing officer at Snappy Kraken. “What’s more, these benchmarks can serve as a roadmap for others to follow. By analyzing what works best, every advisor on our platform can refine their strategies to achieve greater results. The power of data-driven insights can elevate marketing practices across the board."
Snappy Kraken's Freedom360 solution, launched a year ago, streamlines marketing for advisors by taking care of key aspects like SEO strategies and email marketing content creation, freeing up advisors to prioritize client service while still enjoying the same marketing benefits as their top-tier peers. The release of Snappy Kraken's 2024 State of Digital report also comes on the heels of the firm’s recently strengthened partnership with Carl Richards of Behavior Gap. Together, they have developed a 10-day email-based course that advisors can utilize to engage prospects, all while building trust and credibility.
The Snappy Kraken State of Digital 2024 report will be available on February 5, 2024, with a preview available for attendees of the T3 Technology Conference 2024. For more information, please visit http://snappykraken.com/state-of-digital-pr.
About Snappy Kraken
Snappy Kraken is an award-winning marketing technology (martech) firm that provides original content, marketing automation, personalized website design and bold, unique marketing campaigns for the financial services industry. Data-informed decision-making drives each marketing campaign. Snappy Kraken received the 2023 Wealth Management Industry Award for its thought leadership; the prior year, the firm won in the category of Digital Marketing Campaign of the Year for its Blend Out campaign. In 2021, Snappy Kraken won the WMIA Social Media Leadership for Technology Providers award for its annual marketing research report, and the Marketing Automation for Technology Providers award for its “Cold to Gold Framework”. Recognized by Benzinga in three categories in 2020 as well as by MarTech Breakthrough as best overall content marketing software three years in a row, Snappy Kraken ranked number eight and number three respectively on the last two Financial Planning Best Fintechs to Work For lists.
To learn more about Snappy Kraken's solutions for financial advisors, including white-labeled enterprise solutions, and to use the new and enhanced tools recently announced, visit SnappyKraken.com.
