From Clout from TIFIN
It’s no longer news that social media is an enormously powerful force in marketing. More than 73% of marketers stated that social media marketing was either “very effective” or “fairly effective” a 2019 buffer study. And social media marketing is also becoming an increasingly important part of a strong financial marketing campaign, in part because of the personalized content and feel of testimonials it can offer.
But how can financial advisors who are creating social media campaigns or looking to expand on their already existing campaigns ensure that they become more prominent in a larger online community?
The double-edged sword of social media is that while it’s easy to post, it’s much harder to make sure your content is properly targeted to the demographics you have chosen. If your posts don’t get the meaningful engagement that you seek, it can be difficult to decipher what you’re doing wrong. The problems you encounter can be due to a number of different variables, including timing, consistency, content style, the content itself, or the overall strategy.
If you’re understandably confused about the best way to create or refine a social media campaign, here are some tips to keep in mind:
Research your demographics and create content around them
Knowing who your target audience is is always important when developing any type of social media strategy. As a consultant, you may have already researched who your company sells to the most and what types of customers have the highest retention rates. You can take the same data and use it to fine-tune your social media content.
If you’re thinking about how to create effective social media content, Think about where your customers are in their lives. Are you college students? Single parents? Much bigger families? Seniors? Once you’ve figured this out and divided your customer base into different categories, you can start developing posts that show how you can help solve various people’s financial challenges.
Be thoughtful with your contributions
Don’t post just for the sake of posting; Taking the time to create valuable and engaging content pays off in terms of engagement and ROI. One way to do this is to create a consistent “voice” for each of your social media platforms. You likely need different content and voice when posting on Instagram than when creating content for LinkedIn and for different audiences, but it’s a proven way to develop more engaging and engaging content. Likewise, it is important to build credibility and relevance with your target audience in order to create a trustworthy connection between your company and potential customers.
Be consistent with your planning
Posting regularly is very important on social media. Plan your content for the month in advance and post it regularly. While more content is almost always betterwhat is perhaps more important is consistency. Instead of having all of your content published at the beginning of the month, distribute your posts so that people are constantly reminded of your organization’s presence. For example, if you can only produce about four posts a month, schedule one a week so you can maximize the impact each of them will have.
Post at the right time of day
Every social media platform has different optimal times of the day to post to them to maximize engagement. These statistics are worth knowing. In general, however, studies have found that early morning on weekdays is the most effective time to post on most platforms. Your goal is to avoid busy times when your audience might not be watching social media, like late at night or on weekends.
Focus on the platforms that suit you
If you’re targeting younger populations, you can get ahead with platforms like Instagram and Snapchat. Elderly people more often LinkedIn, Facebook and Twitter.
This is another point where knowing your customers is essential to building a strong campaign. When you sell almost entirely to a specific group, you can spend your valuable time creating a greater amount of high-quality content for just some of the major platforms that best meet your needs.
Make content that feels personal
One of the greatest benefits of social media is the perceived sense of personal connectedness that can be achieved through it.
A great way to get that feeling is by sharing content that can be helpful to your audience. Rather than using platforms purely as a promotional forum, people can more easily connect to your organization if you create informative content that “gives back” to the audience. With this method, your social media is no longer a one-way street for your advertising to reach potential customers, but a two-way exchange of information that lets your target groups feel involved in the process.
Testimonials are a good format for Advertise on social media that doesn’t feel overly produced. Some avid clients talking about their experiences with your consulting firm can lead people to be more positive about your services. It can also be useful to produce the videos in a relatable manner. For example, instead of using the highest quality camera you can get your hands on, try a regular cell phone camera. This can help people relate to your product, and the testimonial feels more grounded.
Cover news and developments to fill gaps in your content
Content such as testimonials and helpful guides are useful, but also time-consuming to create. Even though your campaign might include these formats, you may find that you have some loopholes that you want to fill. You can maintain a steadier stream of content by reporting on developments in your field or commenting on changes in average rates or rewards.
Focus on building a scatterable base
The whole point of social media is to enable people to communicate ideas on a peer-to-peer basis. That means you’re missing out on a huge chunk of social media’s potential if you don’t encourage people to get the word out on the same platforms you already interact with. Asking people to share posts or using strategies that encourage them to share with one another in exchange for social media shoutouts, small prizes, or loot can be an effective way to get your message flying on its own.
Clout uses AI-powered content activated on digital and social media to improve outcomes for financial services providers. Our algorithms curate industry-specific insights with workflows that align marketing, sales, and compliance to create relationship-driven communications that can all be easily shared directly with customers across multiple channels.
Would you like to see how Clout can help your company run more effective social media marketing? Make an appointment here.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.