If you a financial advisor looking for business growth and opportunities, then you need to create a social media presence and use it actively. Social media is by far the ultimate way to take your advisory service business to great heights. And that is not an overstatement. According to a survey, 85 percent of the financial advisors in the US use social media to market their business and attract customers. Wait, there’s more! 80 percent of them have gained new customers that have resulted in approximately $5 million in average asset gain. And this gain they say is directly attributable or generated from their social media use. The majority of them believe that the instant success that social media brings to them is predominantly because it helps you reach out to the right people at the right time and, more importantly, shortens the selling cycle.
After reading all these statistics, it can be said that social media is not an option for financial advisors but a proven tool that you, too, should use to gain new business and nurture relationships with your clients.
To help you get started, here are some actionable social media marketing tips from our experienced and knowledgeable social media strategists. Take a look:
Advertise Your Financial Advisory Services on Facebook
With over 1 billion active user base, you need to use Facebook to your business advantage. Remember that Facebook advertising is an investment and not an expense. It gets you the exposure that you need to reach out to your target audience.
At present, financial advisors are enjoying amazing success in building their email listing with Facebook ads. This allows them to send traffic from Facebook to their company’s email opt-in pages where the prospects can opt into their email list, and from there, the financial advisors will follow up via email. It’s a great way to attract and connect with the target audience and convert them from prospects to actual service users.
Create Your Profile on LinkedIn
If you’re associated with a company, then based on their social media policy, try to set up your account with your business email (for recordkeeping purposes) on LinkedIn. Get your profile approved by your firm and then reach out to people you know by inviting them to connect on LinkedIn with you. After that, connect with people who might need financial advisory services. Do this by carefully crafting introductions that tell people how you could provide them value.
Post Useful, Personalized and Action-Driven Content
Many financial advisory firms already have libraries of articles that are pre-approved by compliance. You can share these on social media with your connections and audience. However, make sure to share the content that is relevant to and matches your brand. In other words, the content should demonstrate your specific skills and expertise and, at the same time, must be of interest to clients and followers.
While you’re at it, make sure to personalize the content message from the library so that it is in your voice. However, you may need to take permission from your firm first before you do it. Also, to make things easy and less time-consuming, try setting up alerts on Google for topics that may interest your audience.
All this will help you build authenticity and come across an authority in your field. This is your best chance to showcase your knowledge and build trust. Leverage on the Power of Facebook to Amplify Your Best Performing Content
Leverage on the Power of Facebook to Amplify Your Best Performing Content
Facebook ads are often seen as an amplification tool. All you have to do is write a message that you want to display to the world, and Facebook will help you amplify it. However, being industry experts, we’d suggest you take the highest converting page from your site and then use Facebook to amplify it. Likewise, you can also use a blog post that gets most views, shares, or comments and amplify it.
Don’t waste time reinventing the wheel, take something that you know works, and just build on that.
Timing on Social Media is Everything
As Facebook and other social media platforms like Twitter and Instagram have a large and diverse user base, it is extremely important to be clear on when your target audience uses each platform the most. For this, you need to monitor chats and make notes of how many people are online at different times of the day.
In general, studies show that those who are targeting businesses see higher engagements on weekdays. But those who target consumers see the most engagement on the weekends.
Retargeting is a Super-Secret Trick
Retargeting makes sense because it focuses on showing your social media ads to people who are already familiar with you and your services. In other words, these are those people who have visited your website earlier but haven’t converted. Retargeting helps in conversion. Here’s how:
Let’s say if person ‘A’ visited your site, but the timing was wrong, or they got distracted, or something else came up, and they had to leave your site without taking any action. Now next day, when they login to Facebook, and they see your ad on their page, perhaps a link to the schedule for an appointment or maybe a piece of content, it will be easier for you to convert them. After all, the idea behind retargeting is that the audience is already engaged with you but need to take action. This strategy has proven to deliver a big return on investments to financial advisors.
To learn more actionable social media marketing tips, get in touch with us. At Business Marketing Solutions Group, we specialize in this domain. We can build a high-converting and well-rounded social media strategy that helps you get more customers and business. Contact us today to discuss your business goals, and we’ll provide you with the strategy and services that deliver targeted results