Hi, Dan Sheehan from Social Merlin back again for another Marketing Minute. Today’s Topic: The Top 5 Social Media Mistakes Financial Advisors Should Avoid.
Many financial advisors have the notion that to achieve business success using social media, they simply need to create social profiles, add their practice details and post content. I wish it were that easy, but sadly, this isn’t the case.
To experience true success with social media, here are some mistakes you need to avoid.
1. Going in ‘blind’
What many financial advisors miss entirely about social media marketing is that it takes more than posting great content to get noticed.
You want people to know about you, your products and services, therefore, you need to engage with prospects and clients. If you’re not responding rapidly to client queries or comments, your social media presence will dwindle in no time. All this may seem a bit overwhelming, but it doesn’t need to be.
You need to produce a social media marketing plan, and then implement it. With a good plan and tools in place, you’ll be able to build a strong social media presence and be interactive without overwhelm. In addition, the goals you want to achieve with social media will become more achievable.
2. Not defining your target audience or avatar properly
I could write a book about this mistake. If you don’t take the time to do this one thing properly it will be the biggest mistake you can make and everything else you do will be wasted!
The goal of creating content and posting it on your social media sites is to get the right people to see it. And the right people are your target audience or your avatar.
As a financial advisor, you must ask yourself, who is my ideal client? Who do I want to market my product and/or services to? Who are the people who are likely to benefit from my services? Who do I want and like to work with?
You may say that you target homeowners or retirees, but these target markets are too broad. Use attributes such as demographics (age, industry, profession, location, income level or status, etc.) to define your ideal client. What is their typical day like, how many children and what are their ages, what keeps them up at night, or wakes them up in fear? Define in detail the one person who best represents your target market, that’s your avatar.
When you have a clearly defined avatar, it becomes easy to determine how, when, and where to market your services.
3. Poor content
As a financial advisor, your content should entertain, educate and/or inform your readers. But if you create content that offers no value to the reader, attracting ideal prospects will be an uphill battle.
4. Lack of engagement
People use social media to socialize. This is where people go to share information, shop, and chat. Your goal as a financial advisor should be to provide information that is valuable and helpful to your readers. Absolutely avoid making it about you, it’s always about your avatar!
Take time to socialize with your readers. Set a particular time every day to interact and then just do it! After a while it will become a habit that will pay dividends many times over. Answer their questions, respond to their tweets and comments – engage. Let your readers know that you care, and you’re willing to listen and respond to them.
When you interact with your followers, you’ll build trust and over time, your followers may become your most loyal lifelong clients.
This is probably one of the worst social media mistakes you can make as a financial advisor. Spamming your social networks or clients can get you ignored faster that you can say ‘goodbye.’
So, avoid sending too much content or content that is going to irritate or annoy your followers.
Remember no one is perfect and we all make mistakes. If you do make one or more social media mistakes it doesn’t mean that you should give up. Learn from your mistakes and do better, but especially keep going.
If you’d like to get more information, click the link below. Thanks, and see you next time.