Digital marketing is only going to become more important in the coming years for financial advisors. Yet which tools are most effective, and how can you avoid waste by using them to maximum effect? In this post, we look at 3 ways Financial Advisors can improve their digital marketing. Most of these you will likely be aware of, such as SEO and Facebook marketing. Yet what we’ll be sharing here is how to refine your use of them, to get the most for your money.
Should you bother with the likes of Facebook, Twitter or LinkedIn if you’re a financial advisor? YES!
There are certain platforms that we would automatically caution against. Pinterest and Instagram, for instance, are highly “visual” social media platforms which make them great for fashion, fitness, and travel. Not so great for financial services unless you have a really unique angle.
Consider the following tips we’d suggest for Facebook and LinkedIn:
-Avoid private messaging (PM) outreach to individual Facebook profiles. People don’t tend to like unsolicited contact from people who are not their friends and family.
-Consider using Facebook to build your email list. You can do this by offering them exclusive content on your newsletter which is not available to social media followers.
-Try to build up to 500 likes (followers) for your business page from relevant people. This gives you more credibility to new prospects. Give them a good reason to follow by offering value.
-Consider focusing more on developing the network for your personal LinkedIn profile, instead of focusing on getting followers for your LinkedIn company page.
-Again, try to build your email list through your LinkedIn activity. This is yours and cannot, therefore, be touched by an algorithm change on a social network.
-Consider LinkedIn Ads if you are marketing nationally. Locally-focused financial planners may not find the volume they hope for, which would make the campaign worthwhile
One good thing that’s come out the COVID-19 pandemic is the increased use of video calling across age groups, regions and social classes. Clients of financial planners and similar firms are now more open to this form of communication.
It is also potentially a big time saver and cost-saver for you, since you may not necessarily need to travel to meet every client!
Search engines are still typically the supreme pillars in most digital marketing strategies. Everyone wants to be on page 1 of Google for their audience’s search phrases.
For locally-based financial firms (e.g. IFAs), this is much more viable. There’s typically less competition (unless you’re in an area like London) and it’s often possible to rank highly quite quickly.
Webinars are also a great way to market your financial firm online.
For nationally-focused financial firms, the search engines are usually much more competitive. You’ll need to think carefully about which search phrases to go after, and have realistic expectations about the timelines and chances of success.
We hope that you’ve found this post on 3 ways Financial Advisors can improve their digital marketing useful.
If you’re a financial advisor looking for help, please feel free to get in touch here. Myself and my team are more than happy to help.
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