We thought we’d take you back to basics in this month’s blog and look at how you can best use social media advertising as a financial services professional. There are a lot of people on social media, and given the vast amounts of information social networks have about their users, you can usually target the sort of client you want on a granular level at relatively low cost.
So which social networks should you advertise on:
For advisers, the most appropriate social media networks to advertise on are Facebook and Linkedin. Other sites probably aren’t going to give you as much reach, unless your client base is all millennials in which case Instagram may be worth looking into-but their sponsored posts are run through Facebook anyway.
Middle aged and seniors with Facebook accounts
|Age group||Percentage of online users with Facebook accounts.|
What sort of ads should I run?
You have a few options here. But considering you are selling expertise rather than a material product, we believe boosted posts are the way to go, thereby sharing your knowledge and inviting people to learn more about your services. You can boost all sorts of posts. Articles you’ve shared, images and video.
How to boost posts on Facebook
Tips for boosting success
Firstly, boosting is only going to work if the content is great. That’s where we help. Our library of articles as well as certain imagery and all our video content is ideal for boosting.
Algorithms love pictures and videos, so endeavour to boost posts which include these.
Also, you won’t want to boost every post, and it’s generally better to choose ones that have already generated a bit of organic reach so that you’ve got a head start.
Finally, you need to think about who you’re boosting to. The question you want to ask here is: am I wanting to reinvigorate current clients or do I want to find new ones?
Reinvigorating current clients
Lots of advisers we speak to don’t realise that their regular posts are not necessarily seen by all people in their network of followers. This is because all posts made on Facebook pass through a giant sieve called an algorithm and only get shown on certain people’s walls according to how well they’re performing.
Facebook’s new algorithm prioritises posts by actual people, meaning businesses often have to pay just to get exposure within their own network. This can sound a little annoying but as an end user you probably prefer it. It means you receive less spam. As a business however it means you most likely will have to boost posts occasionally just to get them seen by your current followers.
So if you’re running a campaign aimed at attracting existing clients back to the business, you would want to boost this post to your existing network. Examples of this might be: offering them an annual review, or an update on how a potential change in government might affect their personal financial situation. To do this, when you go to boost your post make sure you select “people who like your page and their friends” when selecting your audience.
If, on the other hand, you’re wanting to generate new clients this is where you’d want to target by demographic and interests.
Finding new clients
You’ll probably already know what you want your ideal client to look like: where they live, their interests, their age etc. If you don’t, maybe schedule a meeting with your team to mock up a profile of your ideal client to help you with the sorting process.
Once you know who you want your post to be seen by, enter their demographic details accordingly. You do this by selecting “people you choose through targeting” when selecting your boosted post’s audience.
So what about LinkedIn?
The benefit LinkedIn has over Facebook as an advertising space is that you can target by profession in more detail. We know a lot of advisers deal with certain professions and may want to draw in more people in the same industry as they understand their needs and desires. Knowing someone’s profession might also help you estimate their salary or net wealth.
The other great thing about LinkedIn is its new wall feature really is a great space to establish yourself as a subject matter expert. Sponsoring content that you have generated can be a great way to build your profile here. Advant’s white labelled articles are going to fair well as they are thorough and educative in tone.
If you want to start seeing more engagement on your social media posts, and start generating increased brand awareness in your services, sponsored content is worth considering, as it will ensure your content has a wider reach, encouraging more meaningful engagement. As an adviser or accountant, Facebook and Linkedin will be your best bet as they are simple to use, affordable, and most importantly it’s where your clients pass their digital hours. For more help on social media strategy and how Advant content can fill the gaps, give us a call.