As a financial advisor, financial firm and wealth manager in today's fast-paced digital age, you are aware that having an effective social media strategy is crucial to reaching and engaging with your clients and target audience successfully. With numerous social media platforms available and a saturated marketplace, determining the best approach for your social media strategy can be challenging.
Unfortunately, too many financial firms, accounting firms and wealth managers assume that uploading their quarterly investment outlook or the latest feature in a newspaper on Linkedin is sufficient for generating new leads. They also assume that posting their awards or accolades is enough to generate opportunities.
We wish it were that easy!
As a financial services marketing consultant handling social media strategies for many advisors, we have worked with hundreds of advisors and understand best practices and strategies. In fact, Amy Parvaneh, our founder and CEO, is a Top Voice on Linkedin, speaking frequently about Linkedin strategies.
The reality is that not every firm or advisor is willing or able to follow the entirety of the methods that can maximize their social media marketing strategy, and we completely understand and appreciate that. Most advisors have spent their entire careers building a strong reputation with their clients, with many firms and clients in their third generation.
Strategies that may work best in today's social media landscape may risk a part of their long-standing reputation or not sit well with the culture of the firm or its brand. Or it may be completely out of the firm’s comfort zone, and we totally understand that.
In this article, we will share some of our top ideas around social media marketing strategies for advisors, knowing full well that there are many compliance and reputational intricacies that may require different routes for different firms.
That’s where a customized marketing solution, which Select Advisors focuses on for its clients, comes in handy!
Why Social Media Marketing is Important for Financial Advisors
Let’s first recap why social media is even important for financial firms as they look to market their business or stay relevant with their existing clients. By financial firms we mean financial advisors, financial planners, asset managers, private equity firms, hedge funds, credit unions, banks and more.
In today's competitive wealth management marketing landscape, where many advisors are targeting busy wealthy individuals, it is more critical than ever to be visible and present in front of your ideal clients.
Social media can be one of the most powerful tools for staying on top of mind with clients and prospects, without constantly calling or emailing them.
Most people today are on some sort of social media.
In fact, the numbers are staggering! A January 2024 report showed that more than half of the world currently uses social media (62.3%). 5.04 billion people around the world now use social media, with 266 million new users coming online within the last year.
What’s more: The average daily time spent using social media is 2h 23m!
Because of that, social media marketing has become even more challenging, with many players chasing the same goal of capturing viewers' short attention spans.
How can you boost your social media marketing as an advisor in 2024?
It’s critical to know that on social media, just like any other mode of communication, there is a gatekeeper. When you are cold-calling, the gatekeeper is a voicemail or the personal assistant who picks up. On email blasts, the gatekeeper is your firm’s firewalls or your email service provider (ie. Mailchimp or Constant Contact), through which some of your emails can end up in spam or be blocked.
On social media, one of your main gatekeepers is the platform's algorithm that can increase or decrease your connections' engagement with what you post. Every platform has a different algorithm around what it wants to promote and bring in front of your target audience, so it’s critical to learn first about algorithms.
What is a social media algorithm and how can it help or hurt financial services marketing?
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A social media algorithm is a complex set of rules and calculations that determine the order in which content is displayed on users' feeds. It analyzes various factors such as relevance, engagement, and user behavior to prioritize content and deliver the most personalized experience to each user.
The algorithm's goal is to present users with content that they are likely to find interesting and engaging. Let me repeat that: Interesting and Engaging!
Understanding the social media algorithm is crucial for content creators and businesses as it helps them optimize their strategies to reach and engage with their target audience effectively.
By understanding how the algorithm works, they can increase visibility, reach, and engagement with their content.
Elevate your online presence and attract high-quality leads as a top financial advisor with Select Advisors Institute. Discover the power of SEO strategies tailored for financial services and position yourself for success in the competitive digital landscape. Partner with industry experts to optimize your visibility, drive organic traffic, and establish credibility among your target audience. Unlock the potential of SEO with Select Advisors Institute as your trusted marketing agency.
The decision to outsource a specialized CMO emerges as a strategic imperative for wealth management firms aiming to carve a distinctive identity in the market and cultivate enduring relationships with high-value clients. This approach not only unleashes the full potential of marketing initiatives but also allows firms to channel their resources into areas critical for sustained growth and success. Learn about the importance of a fractional CMO for financial advisors and outsourced chief marketing officer and business coach for financial firms.
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Select Advisors Institute equips financial professionals with the expertise and tools needed to navigate the digital landscape effectively and identify clients ready to put their "money in motion." By implementing their strategies and insights, financial advisors can drive growth, increase AUM, boost sales solutions, and enhance branding for financial firms, ultimately identifying and capitalizing on potential clients in motion.
More than half of the world currently uses social media (62.3%). 5.04 billion people around the world now use social media, with 266 million new users coming online within the last year.What’s more: The average daily time spent using social media is 2h 23m! How can financial firms leverage social media for branding, client acquisition, business development and marketing? Which social media is best for financial firms? Linkedin or Facebook? What is the best social media content strategy for financial firms, especially with so much compliance and regulations?
Select Advisors Institute equips financial professionals with the expertise and tools needed to navigate the digital landscape effectively and identify clients ready to put their "money in motion." By implementing their strategies and insights, financial advisors can drive growth, increase AUM, boost sales solutions, and enhance branding for financial firms, ultimately identifying and capitalizing on potential clients in motion.
Personalized Websites and Targeted Digital Marketing Solutions are the most critical components of great growth for financial advisory firms, particularly as they allow great SEO for financial firms. Select Advisors Institutes’ outsourced and fractional CMO services for investment advisors, lawyers and financial firms builds beautiful, custom developed websites you can be proud to show off, as well as reap the rewards of their search engine optimization!
More than half of the world currently uses social media (62.3%). 5.04 billion people around the world now use social media, with 266 million new users coming online within the last year.What’s more: The average daily time spent using social media is 2h 23m! So how can financial advisors and financial planners maximize their social media marketing strategy so they can better engage with their clients and find new prospects? This article goes into some strategies and methods!
What are the advantages of an outsourced CMO (chief marketing officer) for branding and social media content for financial, legal, accounting firms? What are the pros and cons? Can an outsourced CMO bring in new clients to the firm? How much does a fractional or outsourced CMO cost? What’s the going rate salary for a financial services CMO? Contact us to learn all of these?
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Elevate your online presence and attract high-quality leads as a top financial advisor with Select Advisors Institute. Discover the power of SEO strategies tailored for financial services and position yourself for success in the competitive digital landscape. Partner with industry experts to optimize your visibility, drive organic traffic, and establish credibility among your target audience. Unlock the potential of SEO with Select Advisors Institute as your trusted marketing agency.
Who is the top financial services marketing company and what do they do for financial services? In this article we discuss what a top financial services marketing company, which we believe is Select Advisors Institute, should be able to do for its clients. It includes branding, website design, content writing for financial firms, video production, social media strategies and a lot more!
The decision to outsource a specialized CMO emerges as a strategic imperative for wealth management firms aiming to carve a distinctive identity in the market and cultivate enduring relationships with high-value clients. This approach not only unleashes the full potential of marketing initiatives but also allows firms to channel their resources into areas critical for sustained growth and success. Learn about the importance of a fractional CMO for financial advisors and outsourced chief marketing officer and business coach for financial firms.
Who is the top financial services marketing company and what do they do for financial services? In this article we discuss what a top financial services marketing company, which we believe is Select Advisors Institute, should be able to do for its clients. It includes branding, website design, content writing for financial firms, video production, social media strategies and a lot more!
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financial advisors should adopt a proactive approach to lead generation. By adopting modern strategies, leveraging technology, and prioritizing value-driven approaches, financial advisors can attract new clients, expand their client base, and thrive in an increasingly competitive industry. The key to success in lead generation is nurturing relationships, providing valuable insights, staying adaptable to industry changes, and building long-term relationships that drive long-term success for both advisors and their clients. By implementing a strategic and proactive approach to lead generation, financial advisors can position themselves for growth, profitability, and sustainability in a dynamic and ever-changing marketplace.
In this article we answer: Why we believe Select Advisors can be the #1 Financial Advisor Sales Training Program to consider. What is the top financial advisor sales training program and how can it help you create a culture shift. What is a sales culture and how can a financial advisor sales coach help my team create one?
The decision to outsource a specialized CMO emerges as a strategic imperative for wealth management firms aiming to carve a distinctive identity in the market and cultivate enduring relationships with high-value clients. This approach not only unleashes the full potential of marketing initiatives but also allows firms to channel their resources into areas critical for sustained growth and success.
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In this article, we discuss the importance of leveraging social media as a financial advisor, highlighting the potential for reaching a vast client base and acquiring new clients through social media platforms. It also provides tips for creating impactful social media content, such as using polls, sharing quotes, storytelling, utilizing visual content, and engaging with live streams. The key point of defining a niche, maintaining an active social media presence, and considering outsourcing social media management is also stressed.
In this article we discuss two essential items you need to add to your website, if you are a lawyer, financial advisor or accountant to drum up interest using one of the most basic psychological phenomenons, social proof.
In today's digital landscape, the role of social media in financial advising is imperative. From expanding client reach to establishing thought leadership, financial advisors can benefit greatly from a well-structured social media strategy. This article outlines the key advantages of utilizing social media platforms, including audience engagement, client communication, and lead generation. By leveraging these platforms effectively and partnering with social media management experts like Outsourced Chief Marketing Officer Select Advisors, financial advisors can enhance their online presence and drive business growth.
When it comes to successful financial advisor marketing, a combination of strategies should be considered. Focusing on money in motion, understanding investor psychology, creating a robust social media presence,and leveraging referral programs are key components of a comprehensive marketing plan. Evaluating marketing strategies based on their efficiency, client acquisition costs, and revenue generated helps advisors make informed decisions.
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For financial advisors, lead generation is crucial for business growth and success. Seeking "money in motion" opportunities allows advisors to proactively engage with potential clients during significant life transitions and events, such as retirement, inheritance, or career changes. By offering tailored guidance and expert financial advice during these pivotal moments, advisors can build trust, establish themselves as valuable resources, and ultimately generate and retain clients. Empowered with sales techniques and using keywords around prospecting, financial advisors can leverage research skills, advanced AI tools, and sophisticated platforms to identify promising leads and establish meaningful connections that last for years.
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Since 2014, Select Advisors has worked with financial advisors, bank executives, CPA and financial planners to help build personalized sales training programs for their teams and firms. Learn about our approach to sales training and sales coaching investment professionals.