Once considered a passing trend, social media has evolved from a single photo and music sharing platform to a diverse system of social and professional networks that unite users from both all over the world and right next door. Now it’s hardly possible to find a person — or business — that doesn’t use social media in some way.
As far as social media for financial advisors goes, you may be wondering how to best leverage social media for your business. → Use this guide to produce results.
For most professional service providers, social media can be a bit tricky, given that they don’t sell a tangible product as most retailers do. For retail businesses, social media can be directly responsible for conversions (i.e., sales) and thus becomes one more place to rack up sales. For financial advisors, “selling” isn’t going to work on social media.
Instead, the best way for financial advisors to use social media to their advantage is to leverage it to enhance brand awareness. Read on to see how financial advisors can use social media to brand themselves, covering the bases of:
- The essentials of branding
- Different platforms and diversification of posts
- Best social media practices for financial advisors
Branding is more than a logo
Often seen as less important than other marketing efforts, branding is much more than creating a logo. In the digital marketing realm, branding encompasses everything from visual elements of a financial advisor firm to online reputation and how financial advisory firms are positioned in the marketplace. One of the biggest elements of successful branding is consistency across channels, especially when it comes to social media.
Another aspect of branding is that it takes time to build and doesn’t often result in a quick “sale.” In fact, some audiences are turned off by a sales-focused approach from professional service providers. This is often the younger audiences such as Millennials and Gen Z. Instead, financial advisors are finding more success by becoming a knowledgeable resource who provides insights into often confusing financial terms and current events affecting the markets.
One size does not fit all
While the term “social media” does encompass all of the platforms mentioned below, plus many others, these platforms differ in the types of audiences, as well as the types of content that are allowed and/or perform better in feeds. Here’s a brief overview of the most popular social networks and how financial advisors can use them to best boost their branding:
While it started out as a platform for college students, Facebook is now skewing toward
an older demographic. For financial advisors, this is a great place to post events and seminars, run targeted ad campaigns, and share long-form content like articles and blog posts.
This microblogging platform was always meant for short amounts of text – originally 140
characters but now up to 280 – that get attention without being time-consuming to read. While known more for breaking news and quotable lines from celebrities and politicians, Twitter does have a place in financial advisor social media when leveraged to perhaps get quoted yourself or network with peers, or contribute on other content.
Perhaps the most well-known professional social media platform, LinkedIn is where many professionals, as well as job seekers and recent graduates, turn for networking and professional resources. For financial advisors, this can be a place to become a thought leader on financial services topics and increase awareness about your brand.
Pro Tip: Share your financial advisor firm content on your personal LinkedIn feed as well to increase reach and engagement.
Designed as a visual-first platform and pioneering the photo filter craze, Instagram doesn’t support links in posts, so short videos and photos are the only way to share content. News feeds move quickly, and content needs to be engaging from the top or your audience will keep scrolling. If done correctly, this is a great way for financial advisors to connect with a younger demographic without coming across as too formal and stuffy.
YouTube
As the reigning heavyweight of video platforms, YouTube is a place where financial advisors can share their entire catalog of content on a dedicated and branded channel. Unlike the platforms mentioned above, YouTube is ideal for sharing more in-depth content that educates your audience while also allowing them to get to know you and your business. Additionally, since YouTube is owned by Google, your video content should be SEO-friendly to maximize visibility in online searches.
TikTok
As a rapidly growing social platform, it would be remiss to leave TikTok out of the conversation about financial advisor branding. While at first glance TikTok may seem like a poor fit for anyone promoting professional services, there is actually potential there for financial advisors to grow a following. The younger demographic skews toward Gen Z, making this a great place to reach future investors.
In fact, there are millions of TikTok videos designed to help educate the younger generations on important topics ranging from healthy habits to financial education.
What are best practices for branding on social media?
Educate first, sell second
Social media users know when they’re being “sold” something, and if it’s too blatant or pushy, they won’t buy-in. However, they want information and advice and will share content that is helpful and relevant to them and their network.
Branding is a marathon, not a sprint
Unlike running an advertising campaign with a clear CTA (call to action) and measurable results, branding is a never-ending process of establishing recognition and trust with your audience. It should be considered in every piece of content published on any platform, online and offline.
Create consistent messaging across platforms
While the delivery method may vary, the overall theme of your content should remain consistent. That includes logos, fonts, colors, and any relevant taglines or slogans. This will help your financial advisor brand build trust and recognition over time.
Hire professionals
Many of the most successful brands have professionals behind the scenes doing the heavy lifting. In fact, many digital marketing firms have a dedicated team of professionals who work solely on helping financial advisors with their branding.
If you think you can benefit from the help of experts, reach out! Digital marketing for financial advisors is our business at PDM. Your social media presence is part of our responsibility.
