Social media has become an essential marketing asset for businesses across various industries, including the financial services sector. Businesses are learning to leverage platforms such as Facebook, Instagram and TikTok to reach an entirely new audience of potential customers.
Financial advisors who want to grow their brands should consider developing new social media plans that help raise brand awareness, as well as connecting with influencers in the space who can promote their services. Here, 15 Forbes Finance Council members share their best tips for getting started.
1. Share Real-Life Experiences And Client Success Stories
A financial advisor’s mission is to serve their clients. On social media, that means increasing your reach and building trust by sharing real-life experiences and client success stories. The content needs to be genuine, authentic and consistent to be effective. – Taruna Kanani, KB Tax Deviser CPA
2. Use Your Own Voice, Not Industry Jargon
Be real. Be you. Be approachable. People want to interact with people on social media, not robots or stuffy firms. They won’t follow, share or comment on something that sounds automated. Drop the industry jargon and use your own voice to explain something in simple language that anyone can understand. – Jason Craig, IRA Resources, Inc (IRAR)
Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
3. Share Educational Content
Social media is great for educating the masses. Simply repost educational content about the products and services that you offer. Make sure to share your thoughts on the article or content. By providing thought leadership, you will soft-sell your services, appearing as an expert who doesn’t shove products down their prospects’ throats. – Sheryl J. Moore, Wink, Inc.
4. Publish Thought Leadership Pieces
Financial advisors can leverage social media by delivering thought leadership pieces and content in general. Their existing client base can receive information in a timely fashion while the advisor gains exposure and brand awareness to help with growth initiatives. Additionally, it can help place focus on a specific area of interest for the advisor and attract new audiences. – Monica Jalife, Pinnacle Associates
5. Post Practical, Applicable Information
Financial advisors can and should use social media to share educational content about managing both personal and business finances. Bite-sized morsels of information that are practical, insightful and applicable to your clients and prospects will keep you top-of-mind as an expert. – David Haass, Elite Insurance Partners, LLC
6. Connect Clients With Community Involvement Opportunities
Social media is an amazing tool to help leverage our clients and our community involvement. Our clients want to be involved in community outreach and opportunities to give back. We can leverage social media for inviting our clients to events and providing opportunities for community engagement. – Trevor Wilde, Wilde Wealth Management Group
7. Network And Raise Awareness
Social media is an excellent way for financial advisors to connect with prospective clients and have them get a sense of who you are and your style. It creates a convenient way to network and create awareness. Humans want connection most of all. Along with this foundation comes trust and a relationship that grows into a fruitful venture. This generates regular feedback, producing growth. – Letitia Berbaum, The Zandbergen Group
8. Provide Informative, Bite-Sized Content
Keep it simple and short. Select a topic and address it succinctly. Perhaps you can make a short video, podcast or article about the topic and give customers a path to contact you for more information. No one wants to watch a 15-minute video or read a novel on social media. Understand the audience, be respectful of their time and provide solid content. – David Kelley, Mailprotector
9. Remind Clients Of Events Or Resources
Our firm uses social media to keep our clients connected to what’s happening with us. That includes reminding people of upcoming events or resources that are available to them. We also like to connect emotionally with clients by celebrating the amazing people on our team with announcements of birthdays, births and new hires. – Bill Keen, Keen Wealth Advisors
10. Hire A Professional
Treat social media like any other marketing channel! You wouldn’t try to design an ad on your own, so why try to manage your social media? Unlike traditional networking, the great thing about social media is that you don’t need to do it yourself. As a business owner, I don’t want to use my precious time on social media, so I outsource it to a professional! – Vlad Rusz, Centaur Digital Corp
11. Connect Through Shared Passions
Social media can be used to share real-time perspectives on relevant news in the industry and to share advisors’ passions to further connect with prospects and industry peers. At a high level, strong social media can also build a rapport through company and personnel updates, which can lead to a more meaningful relationship with clients and prospects alike. – Sonya Thadhani Mughal, Bailard, Inc.
12. Educate On Topics Not Taught In School
Make sure you educate and inform on topics that are not taught in high school or college. This will ensure that people will not only listen but also share your content with their followers as well. Look at what other people are doing on social media and do the opposite—and do it better. Don’t copy what someone else is doing; stand out as much as possible in how you deliver your message. – Jose Rodriguez, Got Credit?
13. Track And Follow Up On Engagement
Advisors should adopt the client acquisition playbook of consultants: “Market thoughts to sell services.” Social media is a great way to build prospects. Astute advisors create interesting content (such as perspectives on the economy or investing) and post that content on social media. They then track and follow up on engagement, thus accumulating golden clues to help them build one-to-one relationships. – Sean Brown, YCharts
14. Feed Financial Literacy
The cornerstone of any client-advisor relationship is the concept of trust. Financial advisors should begin thinking like educators to gain a better following and expand their client base. When they provide free information and data that feed a prospect’s financial literacy, that prospect will be more likely to follow and even use said advisor’s services. – Lilit Davtyan, Phonexa Holdings, LLC
15. Learn More About Your Industry
Financial advisors can learn valuable information on certain social media platforms (such as LinkedIn) to share with their clients. There is information on a variety of investment opportunities that an advisor may first hear about on social media. They can do additional research on these investment opportunities, including learning from those with diverse viewpoints, to provide investment advice to clients. – Dave Sackett, Visibility Corporation
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