Facebook has quickly become our clients most valuable tool for generating a steady stream of ideal clients for their financial advisory business.
In recent years social media has started to cross the age gap and has created a platform that allows Registered Investment Advisors reach their target audience with minimal spend. Although this is a proven marketing strategy in many other industries, in general RIA's are not aware of the steps to take to reach this largely untapped pool of prospects.
6 Steps for Facebook Marketing Success
1. Recognize the value of Facebook marketing.
Buying advertising online has become the most tangible path to creating results, and Facebook is the the best outlet to spend your money. The reason is for this is Facebooks access to a large portion of the population, and to help you generate leads in a very short period of time. These leads, when nurtured, often create strong relationships with high lifetime value for each client.
2. Narrow your niche.
With Facebook you have the ability to drill down with surgical precision to find the perfect prospective clients for your business and your geographical location or unique value proposition. But for this to work well, you must be crystal clear in defining your ideal target market and type of client you want to attract. Doing this also makes Facebook Marketing much more cost effective, when you drill down on your market, you can get very specific on a small budget.
3. Run "lead magnets."
Once you have identified a specific target market you want to market to the next step is to run ads on the pages those Facebook users interact with regularly. These ads should speak to the target audiences biggest needs or pain points, doing this gets people to raise their hands to explore doing business with you.
4. Offer free content.
Your ads should send prospects to a landing page on your website where they can access free content and insight in exchange for their contact information (thus creating a lead). This type of marketing drives prospect engagement with you and your financial advisors and allows you to immediately build trust and rapport. In our experience, the most effective type of content are webinars in which you solve a problem that your prospects are facing. Your webinars should deliver tips and advice, and end with a call to action for investors to meet you to assess their financial situation.
5. Stay in touch with customized ads.
Facebook's Custom Audiences tool lets you deliver ads to customers you already know. You can upload a list of email addresses of the people who have visited your website, attended a webinar, or interacted with your content, and deliver follow-up ads directly to them. They will see you every time they log on, creating brand recognition, trust, and ultimately driving conversion rates
6. Make it all look great!
Step 6 should go without saying, but we have seen too many financial advisors serve up poor quality landing pages or ads. This is one of the biggest mistakes we see at FA Digital. Graphic design creates perception and represents your brand to your prospects, and it does this in a matter of seconds. If your ads, photos, and landing pages look good they will help convey your messaging that can help solve your audience's problem. You will create a sense of expertise, trust, and quality in the blink of an eye.