Social Media Marketing Strategies for Financial Planners

Average internet users spend over two hours a day on social networks. That’s almost 15% of their waking hours. If you’re a financial planner prospecting for new clients, social media is where you can find them. To help you get started with your campaigns, here are some top social media marketing strategies for financial planners.

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A Note on Compliance

Not too long ago,
the concept of social media marketing in the financial services space was
strictly taboo. Launching any kind of campaign on LinkedIn, Facebook, or Twitter
was sure to cause you a compliance headache. That’s no longer the case.

officers now consider social media a legitimate venue for prospecting and
communicating with investors. Most firms have compliance guidelines for
creating social media marketing campaigns.

Run Everything
Through Compliance

Just in case we
didn’t stress this enough, don’t do anything on social media until you have completed
the required training and installed the automated monitoring software.

We can’t stress
how important this is. Social media marketing is effective and will bring in
more financial planning prospects for you, but it can also be dangerous from a
compliance standpoint without the proper post-use and supervision implemented.

Select Social Media

Choosing a social
media platform is not a comparison exercise. Facebook isn’t better or worse
than LinkedIn. They serve a different function. Here’s a quick overview of
common social media platforms and their uses:

  • Facebook. Investors are more likely to click a link
    and read something on Facebook. Be sure to include an image or video along with
    the link in your posts so they don’t get lost in user’s feeds.
  • Twitter is primarily a text-based platform. That
    makes it a great place to engage in conversations and establish yourself as a
    thought leader.
  • LinkedIn is a platform for professional networking.
    It’s a great place to connect with potential clients, network, build
    relationships, and gauge interest.

Define Your Target

Most social media
platforms provide targeting features for paid advertising. Examples of this are
Facebook Boost and LinkedIn Ads. Find a niche
that you want to market to and use these tools to grow your audience. It’s one
of the fastest ways to build a following.

You can also find
prospects in social networking groups and by using hashtags. Find discussion
groups where folks in your target market engage. Start a conversation. Use
hashtags so others can see those conversations when they run related

Create a Personal

Find a good
photographer and get some professional headshots done. Your image is the
primary element for your personal brand. Another element would be your tag
line. Combine the two and make sure you use it on your website and social media

Make your brand
unique so readers remember it. Marketing is all about repetition. Internet
users are attracted to images. Put your brand out there, and eventually they’ll
read your content. That’s how you build a fan base. Write great content and
others will share it for you.   

Invite Your Friends
and Colleagues

We get by with a
little help from our friends. Invite those closest to you when you start to
build your social networks. These are the folks most likely to say nice things
about you, and having an initial base of followers can help encourage others to
follow you as well.

When launching
your social media profiles, connect with colleagues and peers who know you on a
professional level. You can also add other financial planners to your network.
Today’s competitors could end up being partners tomorrow. Don’t be afraid to
open up a dialogue with others in your field.

Write Quality
Educational Content

This may very
well be the most important tip on this page. If your content isn’t useful, your
audience won’t engage. Write about what you know best. Become the go-to
authority on all subjects related to financial planning, retirement, and your
niche. That’s what brings clients in the door.

The most
effective social media strategies for financial planners are run by advisors
who are thought leaders in their area of expertise. They’ve built huge
followings because their content is unique, educational, and relevant. You can
do that too. Don’t be afraid to outsource your marketing to ensure you can produce top quality

Automate Your
Social Media Posting

According to a
recent study conducted by Accenture, a multi-national professional services
company, roughly 50% of financial advisors interact daily with investors on
social media. Automated communication tools are what makes that possible.

Most content
management systems offer social media integrations that will auto-post your
content to multiple platforms. You can also schedule articles to go out at
timed intervals, making it possible to write batches of content in one sitting,
then publish daily. Of course, just ensure you get approval from compliance
before scheduling your post for publication. 

Engage in Online

Once your content
is out there, start a conversation. Engage with those who comment on your
posts. There’s a reason for their interest. Try to discover what that is by
probing online. Answer questions to the reader’s satisfaction and they might
just schedule an appointment.

You can also pick
up leads by engaging with another party’s content. Try to stay away from being
the dissenting opinion. No one likes a naysayer. Only comment if you have
something to add to the conversation. Good vibes tend to generate positive

Do Not Promote or
Sell Your Services

No one goes on
Facebook looking for a financial planner. They might buy clothing or other
retail items if they see an interesting ad. They’re be less likely to buy your
services—not directly anyway. Instead, keep posting quality content and build a
community, and some will eventually visit your website. That’s where the sales
opportunity is.

This should not
be a new concept to you. We’ve all been taught to be open about what we do yet
never push our services on those who don’t express a need for them. Social
media marketing is essentially the same thing. Don’t promote. Educate, build a
following, and establish yourself as a leader in the space.

Let’s Get Started

Unsure where to start with your social media strategy or feel like you don’t have the time or resources to produce quality content? Good Life Companies can help. In addition to a full range of compliance and marketing services, we offer a full suite of tools to help financial advisors establish, manage, and grow their practices. Contact us today for more information.

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