social engagement financial advisor

What Can Financial Advisors Do to Expand Their Social Reach?

By now, everyone and their grandmother has heard of social media marketing, and businesses have been rushing to make their mark. Over 50 million businesses are now on Facebook, making it more difficult than ever to stand out from the crowd. With such intense competition, a comprehensive social media strategy is the key to ensuring that you are reaching the right audience at the right time. 

Here are 5 tips to maximize your organic reach on social media:

  1. Know your audience

Consider the ongoing concerns of your prospects based on their immediate needs. If you want to market to pre-retirees, sharing information about 401ks, IRA Rollovers, and safe withdrawal rates is the way to go. If you’re looking to reach millennials, posting information about first home purchases and 529 plans for their children is a better strategy. Know what your ideal client needs and make it clear you have the tools to help! 

Not only does this ensure that you are speaking to the main “pain points” of your prospective clients, but it also increases the likelihood that they will share the post with friends and colleagues who share the same concerns. 

  1. Keep your content “Evergreen”

Facebook’s algorithms favor posts that maintain engagement over time. Posting content that remains relevant for long periods of time gives users multiple opportunities to engage with your post and share it with their friends. 

  1. Focus! 

Between Facebook and Twitter, Instagram and LinkedIn, Snapchat and Youtube, it can be difficult to pinpoint where you should be focusing your efforts. Your prime demographic might not have a presence on all of these social media platforms, so why waste energy on the wrong sites?

Here are some easy ways to determine which platforms are right for your marketing plan:

Have a conversation

Reach out to your existing clients and ask what social media sites they use. People of similar ages, net worths, and social circles tend to use the same networking sites for both business and personal purposes. Use this information to narrow your focus to the correct platforms!

Make the most of your metrics

FMG’s comprehensive dashboard keeps track of both Google Analytics and your social media metrics all in one place. This makes it easy to monitor your engagement and see where clients are the most active.

Keep a watchful eye on the competition

Chances are, your competitors are streamlining their social media strategy as well. Look at the most successful advisors in your area. What social media platforms are they utilizing? What content are they posting? This can help guide your social media strategy (or give you an idea of how to stand out from the crowd)! 

  1. Quality over quantity

In an effort to boost only the most relevant content, Facebook has created a news feed algorithm. To manufacture the best user experiences, Facebook first spreads your post to a small percentage of your audience. If those people engage with the content, it gets introduced to a larger pool. Does this process sound familiar? Much like search engines, social media platforms have created their own forms of SEO in order to ensure that their audience is seeing only the best content.

Given these emerging algorithms, it is more important than ever to post content that is relevant to your audience. Posting unpopular or “spam-like” content can even hurt your chances of reaching a large audience. Take the time to refine each post and drive home your messaging! 

  1. Focus on brand consistency

Given the emergence of “Social SEO,” it is more important than ever to optimize your brand across all social media sites. Becoming popular on one platform can increase your engagement across the others! 

For all of your social media sites, make sure that you are including:

  • A consistent company name or DBA
  • A recognizable and distinctive logo
  • A trackable link back to your website
  • The same address and phone number across all platforms
  • Keyword-rich (yet still conversational) descriptions of the services you offer

It’s true that the competition is fierce for small businesses trying to break into social media, but following these guidelines will help you channel your content to the right audience at the right time. 

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