Social media marketing helps reach new clients and build deeper relationships with existing
Social media marketing is a powerful way for financial advice firms of all sizes to reach prospective and existing clients. You’re missing out if you’re not on platforms like Twitter, Facebook, Instagram and LinkedIn! Great digital marketing on social media can bring remarkable success to your firm, creating loyal clients and driving leads and new business opportunities.
Social media marketing is a form of digital marketing that leverages the power of popular social media networks to achieve your digital marketing goals and requires an evolving strategy with measurable goals.
“71% of financial services consumers who have had a good social media experience with a firm are likely to recommend it to others.”
Source: Sprout Social
One of the most effective channels for marketing your firm today
These include maintaining and optimising your profiles, posting pictures, videos and client testimonials representing your firm to attract a relevant audience, responding to comments, shares and likes, and monitoring your reputation. Follow and engage with followers, clients and influencers to build a community around your firm’s brand.
So why should your firm use social media marketing as a digital marketing strategy? With such widespread usage and versatility, social media is one of the most effective channels for marketing your firm today.
Increasing traffic to your website and converting visitors into clients
Your profile, posts and interactions with users form an approachable persona that your audience can familiarise, connect with, and trust.
Between the links in your profile, blog post links in your posts and your ads, social media is a top channel for increasing traffic to your website, where you can convert visitors into clients.
You can also generate leads and conversions directly on social media platforms through features like direct messaging, call-to-action buttons on profiles, and appointment booking capabilities.
Make it easy for your readers to share your content
Social share buttons are links that make it easy for your readers to share your content on social media. When your readers become promoters of your content, your traffic will increase.
Once you’ve created your social share buttons, how do you get people to share your content?
Here are a few tips to get started:
- Ask followers to share on social media
- Create strong, relevant, compliant content
- Include quotable content
- Add multimedia such as images, videos, infographics, etc
Better brand awareness means better results
The visual nature of social media platforms allows you to build your visual identity across vast audiences and improve your firm’s brand awareness. And better brand awareness means better results with all your other campaigns.
These platforms open up direct and indirect lines of communication with your followers through which you can network, gather feedback, hold discussions and connect directly with individuals.
However it is important to remember that social media marketing requires time and effort to be successful. No firm should expect instantaneous results and instead needs to focus on building a long-term strategy that will slowly but steadily grow its audience.
With patience and perseverance, social media marketing can be a great way for financial advice firms to boost fee income revenue streams.
Creating your social media marketing plan
Now that you know the essentials of a social media marketing strategy, it’s time to implement it. Your social media marketing plan is the roadmap to carrying out your strategy. It puts structure around your efforts so you can measure your success and ensure you’re spending your resources wisely.
Three steps to creating your social media marketing plan:
1. Choose your platforms
Choose based on both your existing clients and prospective client target audience, media popular for financial services (LinkedIn, Twitter, Facebook), as well as your capacity. Only take on the number of platforms you can actively keep up with. You can always start with one and then add others over time.
2. Set goals and objectives
These should be simple and task-like to start; for example, post once a day for a month, set up your profiles, or do a competitive analysis. Once you get into a routine and gather insights, you can set more specific and strategic goals like increasing your following by X% or publishing X [content types you’ve found your audience likes] per month.
3. Report and adjust regularly
Use each platform’s analytics to identify posts that generate the most engagement, whether you’re getting more followers, and to see your audience demographics. Harness and scale up what works and assess what doesn’t.
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