Imagine that, as a Financial Advisor, you had access to 68% of all Americans1 and 72% of all 50-64-year-olds2 at your fingertips. Now, imagine that you had the ability to target each one of these individuals based on their location, income bracket, interests, and hundreds of other variables at a fraction of the cost you would pay if you were to advertise to these same individuals on T.V. or through a major publication.
Would you jump at the opportunity and leverage these tools?
Facebook has emerged as the dominant social media platform since its launch in 2004. In fact, it’s now the third most visited site in the world behind Google and YouTube with 1.47 billion people logging in daily3. As its evolved, and businesses have evolved with it, many business owners have built empires distributing content, products, and services through the platform.
As social media usage continues to grow amongst Advisors, Facebook should be at the top of your list.
The platform empowers you to do a number of things, including:
Facebook has one of the most robust ad targeting tools in the world enabling you to target very specific subsets of users and expose potential clients to your content regularly. For example, if you’re targeting pre-retirees in NYC who love golf, you can tailor your message to those individuals and customize any content you’re creating to meet their needs. Being specific and direct will cut through the noise and create a common connection point with your customers.
As Facebook is set up as a feed, it allows for a constant stream of communication and engagement with clients and prospects. You’re able to provide insight centered around conversations you’re having daily, answer questions directly on the platform, and provide access that creates a more robust customer experience. Whether it’s a macro event that creates angst among clients or a major life moment, you can be there for them directly and indirectly through the platform.
There is a common misconception that financial services is very transaction-based. Facebook, which holds video content in high regard, enables you to humanize your practice. Whether it’s highlighting your portfolio management process or profiling individuals on your team, Facebook is the ultimate destination to put a face to the name and create a more lasting relationship with each and every client.
So, when making an investment in Facebook marketing, what can you do to effectively build and maintain an audience? Here are a few places to start:
Effective Facebook marketing takes time and results won’t happen overnight, but if you consistently market on the platform with a variety of content, you have the opportunity to attract new prospects and develop deeper relationships with current clients.
As always, remember to check with your in-house compliance teams to understand what you can and cannot do on Facebook. You can also visit the FINRA website for guidelines on the reasonable use of digital communication or The Financial Planner Board of Standards for a free guide.
1 Pew Research Center