It takes great knowledge and skill to establish a strong social media presence for financial advisers and RIAs who want to make the Internet a good source to attract their clients. The monthly Facebook users account for 2.38 billion currently. Apart from that, there are billions of users who are using other social media platforms LinkedIn, Instagram, Twitter, and many more. In this article, we will discuss the role of social media for financial advisers.
Your financial advisory firm can easily become lost among a large number of users if you do not have a strong social media presence. For that, you will need a good plan and a team to execute on how to establish and keep up your presence on social media. Social media is not a replacement for your other marketing plans, rather it will enrich those marketing plans. If you plan your social presence correctly, it will:
- Increase your brand awareness through
- Organic social growth
- Paid social growth
2. Establish your business as subject matter experts on some special topics that are important to investors.
3. It will connect with social influencers who will help you to reach more potential clients.
Whether it is a financial social media profile on Instagram, Facebook, LinkedIn, Twitter, Pinterest, or any videos on YouTube: creating a presence on the internet with content people want will connect you with your more potential clients. So you should look for social media content ideas for financial advisers.
Even if your presence on these financial social media posts does not immediately result in an increase in business, the investment will pay considerable dividends with time. Social media is indeed a gift that never stops giving. As time passes, many more people will find your business on social media, read your content for financial advisers and consider your value offering.
Provide your audience with content that is informative and helpful and if you do so successfully then be rest assured that you have planted a metaphorical seed in the minds of your audience that will grow gradually over time, which will ultimately result in a steady flow of clients. Moreover, many of those who visit your social media handles will share links to your pages and online content with friends, colleagues, family, and others who are in need of financial advisory services. In few cases, a single viral Facebook post, tweet, or Instagram post is all that is required to generate a considerable increase in business in the years to come.
Benefits Of Social Media For Financial Advisers
As stated above social media is the new escape for all including financial advisers. Now you may wonder why you need to put extra effort into social media. Here are some benefits of using social media for financial advisers.
Creating your own brand that revolves around your targeted audience will attract more clients to your firm. Your personal brand narrates your story that can be an inspiration for many. Your brand creates an authenticity for your firm and few bases on which your clients can trust you. This is the chance to show your merits that will allow you to communicate with your clients so that they choose you.
A large part of social media compliance for financial advisers is creating content that is preferred and shared by your clients. If you merely put content, share no informative posts, then it won’t engage your clients and you will not be able to draw their attention.
Investors are more likely to choose you as their advisors when you establish strong communication with them and make them believe that you are trustworthy. Increasing engagements across social media do take time, patience, and skills but are sure to provide you best results. Simply putting up a post does not mean you are engaging with your clients. You have to create target oriented posts and reach your target audience. You have to keep in mind that there are many types of audiences on social media and your job is not to cater to all audiences. You have a target audience and you will have to cater to them. So select your target audience wisely and formulate posts that suit and engage them.
You will have to keep the communication going. These are part of customer service jobs. So if you think you alone cannot do all of it, employ customer service experts and they will handle the rest.
Increase Website Exposure
By increasing your website traffic, it will instantly increase your conversions and leads. A successful social media advertising campaign will drive a huge amount of traffic to your website. So ensure you have a proper website with a lower load time and a good amount of information. Make your website attractive at the same time so that the viewers want to stay there. This is digital marketing for financial advisers.
In your advertisement campaign do not forget to link your website. Every click on the advertisement will redirect your audience to your website. This way, those audiences who do not read all your posts, will be bound to consider the merit of your services through the details that are provided on your website. And above all criteria, your website page should include a call to action button that will simplify the work of the clients in contacting you.
Social Media Digital Advertising
Social media digital advertising is a very cost effective form of advertising. On an average, if you just spend around $5 and reach around 1000 people. Social media advertising is more powerful because it gives you the provision to reach a certain amount of target audience based on:
- Demographics: location based, specific income levels, and so on.
- Email list: Can run customized ads on email database
- Website visitors: can reach audiences who visited the website.
- Use of retargeting.
There is a certain financial advisory firm that solely depends on Facebook advertisements to get online revenue. Social media is this powerful.
Social Media Action Plan
It is important for you to shape a conversion plan for you and your business. You should be a part of all the conversations on social media. This is imp[ortant to build loyalty for your firm or yourself. You want to hire employees to look after the digital marketing of your brands or you may also want to outsource critical pieces of marketing information. So to do that you will first have to assign a dedicated manager for social media, perform market research to find out what your audience wants the most, and finally execute that to reach your target audience effectively.
Social media is not always fancy, no matter how much these social media companies show. Social media for financial advisers is all about finding prospects and reaching those prospects so that an appointment can be set. So you should set up your social media to accomplish that.