Hi, Dan Sheehan from Social Merlin back again for another Marketing Minute. Today’s Topic: The Top 5 Ways Social Media Can Help Financial Advisors in Marketing.
Social media should be an essential part of every financial advisor’s marketing strategy. Why? Because there are over 2 billion users on social media. This is a huge market you can tap into and grow your practice, if you know how.
In this article, we’re going to discuss the top 5 ways social media can help financial advisors market more effectively. They are:
1. Build brand awareness
Many financial advisors are leveraging social media to build the brand awareness of their practice. If you want to get the message out there that you can help people make sound buying decisions, social media can help spread the word faster, more economically, and a lot further than any other method when it’s done correctly.
2. Increase client engagement
One of biggest advantages of using social media to promote your practice is that you can connect and interact with prospects and clients.
And since you can communicate in real time, you’re able to respond promptly to client queries and coments. Aside from that, interacting regularly with clients can also help build relationships, the key to making prospects life-long ideal clients.
Clients love to voice their opinions on social media, by soliciting feedback from them, you can use that feedback to your advantage.
3. Improve authority
Social media enables you to build your brand’s authority. Setting up social profiles and updating them regularly with relevant content can help build your brand’s authority over time. Remember this isn’t a get rich quick scheme, it takes time and consistent, but not overwhelming effort, as compared to other ways available to financial advisors.
As always, you need to make a good first impression. Show prospects and clients that you’re knowledgeable, caring, and that they can trust you to deliver value. You also need to show them you’re approachable.
4. Increase conversion rates
Marketing your practice on social media can lead to
high conversion rates. When you post engaging and relevant content, and interact with prospects and clients, this helps build prospects’ confidence. And when prospects are confident about you and your services, they will do business with you. In other words, it’s easier to convert a lead into a paying client, if they trust you.
5. It’s cost effective
Not every financial advisor can afford the high costs that come with marketing a practice’s products or services. Which is why many practices today are successfully using social media to reach their target audience and increase their revenue. Even the size of your practice doesn’t matter, although it does help to be established. It doesn’t even matter how big or small your marketing budget is.
Social media can help you expand your client base and achieve your business goals. It can provide every practice, big or small, the opportunity to achieve success without spending tons of money on marketing. If you haven’t begun using social media in your marketing don’t wait too long, as you need to stake your claim now.
If you’d like to get more information, click the link below. Thanks, and see you next time.