Complete Guide To Email Marketing For Financial Services - Actionable Instructions

Complete Guide To Email Marketing For Financial Services – Actionable Instructions for 2024

When marketing for a financial service business, a common challenge you may face is the difficulty of finding clients online. When you run Paid Ads, the CPC is very high, and social media marketing hardly works anymore.

One tactic, however, still works and can deliver high conversion rates – email marketing for financial services.

Whether you are looking to get new clients or set up long-term retention, a well-planned email marketing strategy can help you drive conversions actively, without overwhelming efforts.

All you need is to prepare a complete process to generate qualified leads, actively set up email workflows to eventually convert them into clients, and follow up continuously to ensure retention and further business.

In this guide, you will learn how you can put together a complete working process to implement email marketing for selling financial services. And if done right, you will be able to create a business where you continuously get new clients, while retaining your existing ones for years to come.

So, let’s get started.

How Do Financial Service Providers Benefit From Using Email Marketing?

Financial service providers tend to resort to using email marketing for various marketing purposes that help them get clients and build up an online presence.

If you are involved with a financial service provider, then you will be able to get clients to trust you as a credible entity, learn more about how you can help them in terms of finances, and guide them to find the services necessary to meet their financial requirements.

Eventually, you will have a steady stream of long-term clients that will possibly enroll in multiple financial services from you, and may even hire your firm for long-term consultation.

However, for this to succeed, you will need to set up a complete process which will involve the following steps:

  1. Lead Generation and Prospecting
  2. Managing Customer Data & Segmentation
  3. Nurturing Leads For Selling Financial Services
  4. Conversion Campaigns For Financial Services
  5. Onboarding & Welcome Series
  6. Upsell & Cross-promotion of Services
  7. Long-term Retentions
  8. Setting Up Additional Email Automation Flows

In the next section, we will look at how you can set these up with proper strategies in place.

Steps To Setting Up Email Marketing For Financial Services

Infusing email marketing into your overall financial service marketing strategy will involve setting up and organizing various strategies to achieve the overall use cases of email marketing for financial services as mentioned earlier. Let us look at the strategies you should be using actively.

1. Lead Generation and Prospecting

First things first, you need to gather leads. You need to set up specific strategies that will help you make clients interested in your financial services. Once you have leads, you can then plan to use various financial service email marketing tactics to try and convert them.

Following are a few strategies you may use to generate leads and conduct prospecting.

  • Attend Networking Events and Seminars
    You may keep track of events and seminars related to your niche or your potential clients. You may attend them and converse with many prospects and get connected with them on social media so that you can later work on prospecting.
  • Host Online Webinars
    Arrange free webinars on common financial topics that people are willing to learn. Whoever will register to attend are your potential leads.
  • Content Marketing
    Use informative blogs and articles on your website to attract visitors. Request them to subscribe to your newsletter. If your content is good, people will subscribe, giving you potential leads.
  • Social Media Engagement
    Engage with users on platforms like LinkedIn or Twitter. Share insightful content and direct them to a landing page where they can sign up for more information.
  • Referral Programs
    Encourage your existing clients to refer others by offering them incentives.

2. Managing Customer Data & Segmentation

Once you have your leads, you need to have an organized way to manage them so that you can target the right clients on different email campaigns. In this case, you may segment the leads so that your financial service email campaigns are more targeted toward the right audience.

You may segment your leads based on

  • Demographics such as income, financial pain point, occupation, location, etc,
  • Lead behavior such as email engagement level, base topic interest (i.e., the lead magnet you used to attract them), browsing history, etc., and
  • Interest in products i.e., the services they are more qualified for.

Of course, to be able to segment like this, you will need to collect additional details during lead generation, or run surveys afterward.

3. Nurturing Leads For Selling Financial Services

Lead nurturing is a crucial stage in email marketing for financial services. Depending on your lead qualification status, you need to set up nurturing campaigns to ensure they are engaged with your brand so that you can send your offers on your financial services later on, without making them feel annoyed. More importantly, a proper lead nurturing strategy will help you gain credibility and trust from potential clients.

You may set up an automated email series after subscribing to your list or send over regular emails to keep them warm and connected.

The emails may include:

  • Educational Content
    Send emails that educate your leads about financial planning and investment strategies. This positions you as a trusted advisor.
  • Personalized Advice
    Offer personalized tips based on the segment your lead belongs to. For example, send retirement planning advice to older clients.
  • Regular Updates
    Keep your leads informed about market trends and how they might affect their financial decisions.
  • Success Stories
    Share stories of how your services have helped other clients achieve their financial goals. This builds credibility and trust.

Overall, the idea is to make them acknowledge your expertise in the field. Since financial situations are a sensitive matter to discuss, you need to gain people’s trust before you can offer your services.

**Remember, your nurturing campaign will only work if the content or value you deliver is highly useful and accurate. Meanwhile, the success of your overall financial service email campaign will depend on how well you manage to nurture your leads and prepare them to possibly like your offer.

4. Conversion Campaigns For Financial Services

Right after the nurturing email series, you may proceed with running conversion campaigns to try and convert prospects into clients. Even if you have great offers, how you make the offer will have a great impact on the decision-making process of your clients.

You may use the following tactics to try and convert potential clients:

  • Offer Free Consultation
    Send emails offering a free financial consultation. This can be a great way to introduce your services and expertise while finding out additional details on potential clients. At the end of the consultation, you may offer your services where applicable, and tie it up to email marketing as well as sending out proposals via emails.
  • Limited-Time Promotions
    Run limited-time discount offers on your services to try and entice people who are concerned about expenses. Add a limited time to it to trigger sales due to the urgency factor.
  • Testimonials and Case Studies
    People trust word-of-mouth over the company. Hence, you may email case studies on customer success stories that resonate with your lead segment. In the case studies, if you show how your tool helped solve a certain pain point they are facing, they are likely to consult with you for help.
  • Educational Series Leading to a Service Offer
    Plan a series of emails where you discuss common pain points, explore various options, and then lead up to a final solution, which you can offer as a service.
  • Use A Tripwire Funnel Tailored To Your Service
    Since certain financial services are high-ticket services, you may resort to a tripwire formula where you offer a short-term consultation for a small fee, and if the client finds it beneficial, they may then opt-in for the full service that can be expensive.

Overall, the idea is to turn your leads into clients through effective conversion triggers.

5. Onboarding & Welcome Series

This is a common use case in any industry. Right after someone becomes your client, you may trigger an onboarding & welcome email series to welcome them and give them instructions on what to do next. You may refer them to free courses, ask them to join a community you manage, or book calls with you for high-tier services.

A typical welcome and onboarding series may include 3 emails:

  1. Email 1 – Welcome them to your clientele and thank them for trusting you, along with instructions on steps to follow next.
  2. Email 2 – Links to useful resources that you want clients to look at. These may be helping resources to your service, or free resources to help clients for additional value.
  3. Email 3 – A casual check-in and a request to provide feedback.

Many will tell you that this step is not necessary as you are already providing services to the client directly. But, in reality, this tactic is actually very helpful in gaining more trust and showing professionalism to your clients. You want your clients to feel they are getting the best service out there, and the welcome series definitely helps to strike a positive first impression.

6. Upsell & Cross-promotion of Services

You may also place to upsell or cross-sell additional services you may have in store.

Suppose you have a client for wealth management services. You may then try and consult them for alternative investment schemes. This will give you an opportunity to have clients take multiple services from you, i.e., more revenue without spending on acquiring clients.

Following are a few tactics you may embrace to offer upsell and cross-sell offers:

  • One-Click Upsell Offer After Checkout
    If a client went for subscribing to one of your services online, then right after checkout, you may present a one-click upsell offer on a related or relevant financial service that the client may consider subscribing to as well.
  • Follow-up Upsell Offers via Emails
    After the onboarding process, you may then trigger an email series to convert clients to go for a high-service plan or go for additional services.
  • Bundle Offers
    Combine multiple services into a package along with a discount to convince people to spend a higher amount.

Apart from these, you may also use SMS services or direct phone calls to offer your other services.

7. Long-term Retention

Obviously, you want to build up a sustainable business with regular clients staying with you on a long-term basis. In that regard, you want to implement certain email automation tactics that make them value your brand.

To do so, you may use the following tactics:

  • Regular Check-Ins
    Send emails to check in on your client’s financial health and offer assistance.
  • Exclusive Offers for Loyal Clients
    Reward long-term clients with exclusive offers or services.
  • Educational Content
    Keep providing valuable information that helps clients stay informed and engaged.

The key is to make them feel that you are always available for their assistance whenever they need it.

8. Setting Up Additional Email Automation Flows

While using the above tactics, you will need to set up a few additional email automation workflows to make your business autonomous in various areas.

Following are a few repetitive email marketing tasks that you may set for automation:

  • Abandoned Cart Recovery
    Remind clients who didn’t complete a service sign-up to come back and finish their registration.
  • Feedback Surveys
    Automatically send a survey after a client uses a service to gather valuable feedback.
  • Payment Date Reminder
    Send reminders for upcoming payments or renewals.
  • Birthday or Anniversary Emails
    Personalized messages on special occasions can make clients feel valued.

You should try to automate as many tasks as possible so that you can continuously grow without additional manual efforts.

How To Make Clients Comfortable With Financial Communication

When it comes to financial discussions, it’s crucial to ease any skepticism your clients might have. Here’s how you can create a comfortable environment for these sensitive conversations.

I. Maintain A Good Customer Service Team

Focus on building a strong customer service team. This team is more than just a problem-solving unit; it’s the bridge of trust between you and your clients. Educate your team to be not only knowledgeable but also empathetic and responsive. When clients receive prompt, helpful, and friendly support, their confidence in your services increases, fostering long-term loyalty. Remember, every interaction is an opportunity to reinforce trust.

II. Emphasize Privacy Policy And Security Of Data

Next, let’s talk about data security. Your clients’ financial information is sensitive, and they need to feel confident about how it’s handled. Here’s what you can do:

  • Implement Data Encryption: Make sure to encrypt client data. This is a non-negotiable aspect of data security.
  • Conduct Regular Security Audits: Regularly audit your systems and inform your clients about these checks. It shows you’re proactive about security.
  • Adhere to Regulations: Be transparent about your compliance with data protection laws like GDPR or CCPA. Educating your clients about these compliances can significantly boost their confidence in your services.

III. Allow Easy Way To Contact You

Ensure your clients can easily contact you.

  • Optimize Contact Forms: Keep contact forms on your website simple and user-friendly. They should be easy to find and fill out.
  • Provide Direct Email Access: Offer specific email addresses for different queries or services. This helps in directing clients to the right department quickly.
  • Accessible Phone Lines: Have dedicated phone lines for client support. Ensure these lines are attended to promptly.

IV. Leverage Live Chat Support

To effectively make clients feel valued, offer live chat support. If clients can reach you while browsing available services, you will have a chance to clear all their confusion and convince them to at least take a direct consultation if not more.

Live chat will not only let you convert potential visitors into clients but also make clients feel safe about working with your firm.

V. Use AI ChatBot For Prospecting

Incorporating AI ChatBots like Drift into your strategy can significantly enhance your prospecting efforts.

Deploy ChatBots to interact with site visitors, gather essential information, and even set up appointments automatically. These bots are invaluable as they operate around the clock, ensuring you never miss an opportunity to connect with a potential client.

By educating your visitors and guiding them through initial inquiries, ChatBots can streamline the prospecting process, making it more efficient and effective.

VI. Make The Checkout Process Easy

An easy and secure checkout process is crucial for closing sales with financial service clients. Here are some strategies to simplify this process:

  • Keep The Process Minimalistic: Reduce the number of steps required to complete a transaction.
  • Use Transparent Pricing: Clearly display all costs upfront to avoid any surprises.
  • Offer Flexible Payment Options: Offer various payment methods to cater to different preferences.
  • Secure Transactions: Implement robust security measures to protect client information.

By simplifying and securing the checkout process, you’re not just facilitating a transaction; you’re building trust and encouraging repeat business.

Adhering to legal compliances is non-negotiable in financial services, especially in email marketing. Here’s what you need to focus on:

  • Understand and Comply with GDPR and CCPA: These regulations govern how you handle personal data.
  • CAN-SPAM Act Compliance: Ensure your email marketing practices align with these standards.
  • Regularly Update Your Compliance Knowledge: Stay informed about new regulations and updates to existing ones.

By staying compliant, you’re not only avoiding legal pitfalls but also demonstrating to your clients that you value and protect their privacy and rights. This commitment is crucial in establishing and maintaining trust in your financial services.

Choosing A Reliable Tool To Use Email Marketing For Financial Services

Selecting the right email marketing tool is essential for financial service providers. It’s important to have a tool that offers comprehensive lead management, effective segmentation, personalized dynamic data insertion, and an email automation workflow. This includes capabilities for both recurring scheduled campaigns and regular email campaigns.

Additionally, the tool should ensure a secure method for collecting and managing leads, while also maintaining the required protocols when sending out emails.

If you operate your financial service business on a WordPress site, then you should consider using Mail Mint as your go-to email marketing solution.

For those with a WordPress site, Mail Mint is an excellent option.

Mail Mint for Financial Service Email Marketing

Mail Mint is an easy and powerful email marketing tool that you may use to actively manage your leads and conduct targeted email marketing while automating several areas of your business.

The plugin comes with all the key features required to conduct successful email marketing for financial services:

  • Lead Management and Segmentation
    You will be able to organize and categorize leads effectively, ensuring targeted and relevant communication.
  • Unlimited contacts & lead collection
    There is no limit as to how many leads you may collect. Whether it is 1000, 100000, or even more, you will be able to use Mail Mint with no additional cost.
  • Personalized Dynamic Data Insertion
    The plugin allows you to insert customer data into your emails easily so that you are able to create personalized emails connecting with your clients.
  • Email Automation Workflow
    If you are using WooCommerce to host and sell your financial services, then you may set up automated email workflows to help you automate various aspects of email marketing such as welcome series, abandoned cart recovery, form replies, etc.
  • Security in Lead Collection
    The plugin ensures that your lead collection process is secure, protecting both you and your client’s data.
  • Self-Hosted Database: Offers the advantage of a self-hosted database, giving you more control over your customer and service data.

Overall, the plugin will make it easier for you to sell financial services via email marketing.

Here’s a video to watch Mail Mint in action:

How To Get Mail Mint?

Mail Mint comes with a generous free version so that you can use the plugin and understand its ease of use. This will include lead generation, basic lead management, and email campaign building.

For advanced features such as lead segmentation, email automation, and custom form building, you may consider using Mail Mint Pro (which by the way is quite affordable compared to other similar solutions):


Selling financial services online can feel complicated, but it can get easier if you have all the right strategies in place. If you follow all the steps in this guide, then email marketing alone can help you get more clients without extensive expenses or hard work.

Make sure you put some effort into nurturing your clients as that is the most important step in this whole process. If done right, you can expect a high conversion rate no matter what campaign you run.

Also, if you using a WordPress website, we recommend you give Mail Mint a try. We are sure you will be able to run email marketing effectively with high efficiency.

So go ahead and start implementing email marketing for financial services to get more clients and grow your business.

Frequently Asked Questions (FAQs)

1. What are the key benefits of using email marketing for financial services?

Email marketing for financial services offers personalized client communication, efficient lead nurturing, and the ability to provide timely updates and educational content, all of which are essential for building trust and client loyalty.

2. How can I ensure compliance with data protection laws in email marketing for financial services?

To ensure compliance, always adhere to data protection laws like GDPR and CCPA, use secure and encrypted methods for data collection, and be transparent with clients about how their data is used and protected.

3. What makes Mail Mint suitable for financial service providers?

Mail Mint is ideal for financial service providers due to its robust lead management, personalized email capabilities, secure data handling, and seamless integration with WordPress sites. Overall, it is a great tool to help you implement a complete process for effective email marketing for financial services.

4. How often should I send financial service email campaigns to my clients?

The frequency of emails should be balanced to keep clients informed without overwhelming them. Consider monthly newsletters for general updates and timely emails for important news or personalized offers.

5. Can email marketing help in client retention for financial services?

Yes, email marketing is an effective tool for client retention in financial services. Regular, informative, and personalized emails help maintain ongoing client engagement and trust.

Sakiba Prima

Sakiba Prima, the Content Editor at WPFunnels is passionate about making WordPress work wonders for your business. With a flair for simple yet effective sales & marketing tactics and handy tooltips, she turns complex ideas into easy reads.

Sakiba Prima

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