Social Media Best Practices For Financial Advisors

social media best practices for financial advisors

By now, we all know the power of social media. Its influence is significant enough to sway elections, change buying behaviors, and alter public opinion on almost anything! It’s too big to ignore, so rather than fight it, you should embrace the capabilities of social channels to help connect you with your potential customers.

By being on social media, you let your customers know that you exist, you’re open for business, and you’re ready to listen. It’s a tool you need to leverage as a part of your marketing strategy to remain relevant and competitive.  

Digital marketing for financial advisors can help increase your brand visibility and boost sales in a fast and cost-effective manner. Social media platforms act as mystical portals through which to channel your enchanting story. Cast your spell and put yourself in front of your ideal clients today.   It may sound funky, but the reality is that it works, but only if you actually do it.

 

When Should You Post On Social Media?

A frequency asked question is, when is the ideal time for financial advisors to be posting social media content? Although there is no universal handbook for posting times, and the algorithms of big platforms continue to change regularly, I still have some advice on how to go about your content scheduling. Here are some general rules of thumb:

  • The best time for click-throughs is around 1 to 4 p.m.
  • Wednesday is proven to be the best day to post.
  • The worst time for click-throughs are weekends between 8 p.m. and 8 a.m.

Take these times with a grain of salt. I’m not saying that you should only post to social media during these times, but as a virtual financial advisor who has been doing this since before mass adoption, these are the best averages to go on. 

Your posting schedule will be dependent on your target audience. Say, for instance, you’re a financial advisor who specializes in working with educators. You probably wouldn’t want to follow this advice because your audience will be in school teaching during the “prime times”. So, tailor your approach to your market to maximize exposure and reach. A/B testing is a great way to gauge response rates at different times and on different days. It’s how you find your sweet spot.  

Social Media Best Practices For Financial Advisors

Keeping It Real

Originality is everything when it comes to content and should be your main priority. Your content is an extension of yourself and your story. Please don’t be sending out canned spam into the ether, and by canned spam, I mean cold, generic, lazy and impersonal content.  You know exactly what I am talking about! The kind of content that makes a terrible first impression and probably does more harm than good to you and your practice.

Keep it real – when it comes to social media marketing, content drives engagement. When content is unique and original, it encourages clients to engage with you. Make it personal by writing for your audience. Ask them questions to grab their attention and make them feel as though you are having a conversation with them in an authentic way.

Originality is a brand builder. Posting original content will help search engines drive traffic to your website and boost your reputation in terms of creativity and trustworthiness. This approach can have potential clients feeling as if they know you before even using your service, which is a fantastic foot in the door on the way to building a lasting relationship. 

So, what should you post on Social Media?  A variety of original content.  Plain copy posts.  Pictures.  Short videos (try to keep them under 2 minutes).  Articles.  Audio clips of podcasts you are on or are producing.  The list goes on.  

All of it should be driven by WHO your ideal client is.  And stay out of the weeds, people don’t care so much about complex financial products, strategies, etc.  They want to know who you are.  They want to know how you can help them.  They want to know why you instead of the next advisor.  They want to know the benefits of working with you.  They want to know your why.

social media best practices for financial advisors

The Fundamentals For Social Success

Integrate social media into your overall marketing strategy – Think of social media as an element of, not a replacement for, your other marketing efforts. Start slow. You don’t need to break the internet overnight and trust me, and you won’t. Trying to do too much too fast can be overwhelming. Rome wasn’t built in a day. 

Your efforts will be most effective if you take your time, observing and learning along the way. This will allow you to grow in confidence before tackling a new platform. I recommend starting with LinkedIn, where networking is the game, then move on to Facebook to build some relationships.  A caveat here is that if you know your ideal client is on Facebook, Twitter, etc. more than any other platform then go to that platform and crush it.  You can always add another platform later once you are rocking it on one.

Engagement is key. Don’t post your content and then disappear.  If people are commenting on your content, then engage with them, thank them, ask them additional questions.  Make it a conversation.

Never stop learning from others. What effective financial advisor marketing strategies have you seen lately? What was interesting about their website? What type of updates generated the most interest and engagement? These are the questions you need to be asking yourself to find the most effective solution for yourself.

Set goals for your social efforts – lay out a plan for achieving them and track your progress. Set up automated reminders on your calendar to stay on track with your social ambitions. Be consistent in your messaging and what you post. Once you have set up a pattern for posting you are happy with, stick to it. This forms part of your social identity.  

Lead generation for financial advisors is all about driving traffic into your marketing funnel.  For example, you post on LinkedIn, you build an audience that gets to know you, you post about an eBook they can have for free on your website, you send them there. Measure your efforts by using Google Analytics to track referrals from social media to your site. When you find out what’s driving traffic to your site, do a heck of a lot more of it!

Social media for financial advisors is an art & science.  It is not something that magically starts driving in clients overnight, forget that myth.  If you build a robust digital footprint, which includes social media, and are actively engaged with amazing organic content good things will start to happen.  When you start to see what works then, and only then, should you venture into the world of paid advertising (boosting posts, etc.) to throw gas on a fire you have already started.

What is your favorite social media platform and why?

 

Thanks for taking some time to read this, I really appreciate it!

Best Regards,

Derek Notman

How Financial Advisors Can Develop a Compelling Online Experience

financial advisor social media and digital marketing

So here we are, about ten months into a global health emergency. Over the better part of a year, we have seen entire countries go into lockdown, with most of our country forced to work remotely from home.

If having an influential online presence was important before COVID-19, it is a high-priority now. You cannot survive without one. Look, our 2020 plans were through for a loop this year, but there also is a silver lining to it all for financial advisors especially.

Arguably our greatest attribute as a species is our resilience – our ability to come together and prevail through even the most treacherous circumstances.

So, although it has been some year, I’m here to show you how to embrace this new normal to your advantage as a financial advisor. It begins with developing a compelling online experience.

Adapt your Strategy

Due to the vast improvements in technology, many of our daily tasks have carried on the same, with some now automated. However, as a financial advisor looking to attract prospects (new clients), you cannot rely on previous marketing methods that are more than dated.

social media strategy

As a matter of fact, you’ve got to change your marketing strategy quite significantly.

By adapting your outreach and lead nurturing approach, you will ensure growth and sustainability. Although it first may seem a little daunting, once you’re up and running, it is more scalable and predictable, not to mention that the consumer expects it.

You can start shifting your strategy by working on your blog and social media presence. Everyone is at home, which means that most of us are on our devices more than usual, so it’s the perfect opportunity to engage with your target audience.

Try to build your new marketing strategy around giving your readers valuable advice that they can apply to their lives immediately. In other words, use your skills and experience to write guides, lists & tip style blogs, newsletters, and eBooks that are free to download. You will need to publish content regularly, at least once a week, so get creative and use your knowledge to reel prospective clients in.

Use Social Media to Promote Your Content

No one wants to be blatantly sold to. You have to base your social media strategy around providing real worth to your audience first. Sure, when you’ve built up a following, there’s no harm in a self-promotional post once a week, but for now, make sure your posts are giving something worthwhile to whoever they reach.

Your social media channels should be used as a conversion tool to serve as a source of credibility for your business and aid your SEO efforts. Your channels (compliance approved of course), such as Instagram, Facebook, Twitter, and LinkedIn, should always be kept active with relevant, helpful content and should never be directly used for finding new clients.

Content posted on social media should be broken down into the following categories:

Educational content

Educational content should be made up of posts that share helpful, informative, and valuable information to your audience on a topic that resonates with them. Think about what you can teach them about – top tips, how-to’s, infographics, did you know’s, blog posts, industry information, resources, case studies, etc.

Conversational content

Here, it would help if you tried to ask the audience questions and get people engaging with your brand – think ‘fill in the blank,’ ‘caption this,’ ‘give your opinion,’ or polls that they can interact with.

Entertaining content/Inspirational content

It would be best if you weren’t too serious all of the time. Have some fun and create posts that your audience will relate to and enjoy – think memes, quotes, fantastic imagery, motivational posts, feel-good stories, etc.

Brand connection content

As I’ve mentioned in previous posts, you need to make your clients’ experience more personal. Again, have a little fun and showcase what you’re all about. Brand connection content should be focused on behind the scenes, employee features, and your brand story.

Promotional content

Try to build a following first, and once you have, sneak in posts that promote your products, services, specials, deals, etc. Also, make sure to add a call to action so that your followers know exactly what to do should they be interested in what’s on offer.

Use Paid Media Campaigns for Promotion

There are so many ways to ensure your marketing efforts are impactful and effective. Once you publish content regularly and promote it across your socials, you can look at setting up paid ad campaigns.

facebook social media ads

Paid advertising is hugely beneficial because it garners instant results, can be measured, is cost-effective, and ultimately enhances your efforts towards building meaningful relationships with your audience.

Now that you’ve adopted a fully digital financial planning practice, your overhead can be considerably lower, so investing in the right tools to help you develop a compelling online experience is imperative to your success.

At Conneqtor, we have built a comprehensive set of processes that will help you establish yourself as a financial advisor in this day and age. Download our free eBook to find out more.

I hope you enjoyed reading this!

Kind regards,

Derek Notman

The Importance of Robust Digital Infrastructure for Financial Advisors in a Virtual World

robust digital infrastructure

When I refer to a robust digital infrastructure, I am talking about the tools and strategic plan you’ll need to thrive as a financial advisor in a virtual world – technological capabilities and efforts imperative to your success.

Even though modern-day consumers have been using online banking and mobile applications for years, the concept of online financial advisors is still relatively fresh, although quickly becoming a demand and the norm.

The question is, how do you cater to that demand, how do you make your target audience aware of your services? You do by creating a robust digital footprint. And how do you create a robust digital footprint, you ask? By implementing the following crucial online efforts, which form the foundation of your robust digital infrastructure:

Be Social

When it comes to brand awareness, your social media efforts are critical to building your digital infrastructure – this cannot be undervalued. Without a proper social media plan, no one will ever know about your business.

linkedin social media posts for financial advisors

An effective social media plan consists of:

  • Soft marketing
  • Brand awareness
  • Talking about solutions and benefits of the work you do to your target audience
  • Actively engaging with others content regularly
  • Posting about live seminars and webinars relevant to your brand or that you have created yourself
  • Being genuine and transparent with your audience
  • Growing your network
  • Positioning yourself as a thought leader
  • The blending of personal and business social profiles and content
  • Frequently sending direct, personalized messages to your ideal client to build a relationship, not pitch!
  • Collecting email addresses, in exchange for content of value (eBooks, etc.) by directing people to your other channels
  • Video posts (better for engagement)

The whole point of social media is to educate your audience and stay away from pushy sales and products.

Host Live Virtual Seminars

By creating virtual seminars that dive deep into your brand and services, you can engage directly with your audience through live Q&As. You can also record them and post across your social media channels later, resulting in helpful content.

When it comes to the kind of content, you can create multiple presentations for specific topics and, in turn, breakdown and serve your target audience even more. Your virtual seminars can also be used as free giveaways (downloadable), strengthening your relationship and connection with prospective clients.

Have A Clean & Transparent Website

As I’ve highlighted before in previous posts, you can host all your content on your website; this will drive SEO efforts and become your “home” online. Be sure to regularly update it with new content to keep your audience engaged.

Clients should be able to book an appointment with you through your website too, which can be managed through an embedded calendar.

The possibilities are endless, but ensure that your website clearly states who you are, what you offer, and whatever you do don’t forget to list your prices – highlight your purpose.

Build A Mailing List

Now that you are creating excellent content, you can use giveaways (free downloads) to get prospective clients to sign up for your mailing list. For example, you give them a free webinar, seminar, or eBook, and they have to sign up to download it.

The benefit of building a mailing list as that you can retarget to people that you know for sure are already interested in your service offering.

Invest in Paid Ads

A whole other ballgame, but incredibly effective. With paid ads, you can also create an “ideal client” audience to market to.

Paid ads are a necessary investment, but they aren’t cheap. They do, however, garner instant results (you get what you pay for).

Paid ads essentially drive more traffic to your website from search engines such as Google or Yahoo, meaning that the traffic is relevant. For instance, if someone types “Virtual Financial Advisor” into Google, you could potentially (depending on how relevant your content is, and how much budget you have) be the first result that comes up.

This is something you don’t need to do right off the bat, build a solid foundation of digital infrastructure first, otherwise you are throwing digital spaghetti at the wall!

Build Relationships with Other Industry Players

By forming relationships with other industry players, they can potentially become what I like to call “referral partners.”

xy advisor podcast

You can achieve this by guest blogging on another brand’s website, featuring on a relevant podcast, or generating backlinks to your own blogs. Backlinking, in particular, is super useful for building the credibility of your website. When one of your “referral partners” link back to your blog, and they have a high trust score, your content automatically becomes more trustworthy in the eyes of Google.

These relationships are strategic and should be beneficial to both parties.

In a nutshell, being relevant and visible is accomplished by being active online with engaging and highly valuable contributions to your specific industry.

Alright, that’s it for now! I hope you enjoyed reading my insight into the importance of robust digital infrastructure for financial advisors in a virtual world.

To dominate the digital space as a financial advisor, find out more about my virtual advisory system Conneqtor – it’ll transform your business.  Hint hint, we teach advisors how to do all of this in our virtual advisor system…..

Kind regards,

Derek Notman.