When viewing the vast, intricate, and sometimes silly world of social media, it’s natural for anyone to ask the question ‘where’s the benefit for me?’ It’s a valid question, especially if you’re in an older generation that didn’t grow
up with the internet. Myriad works with many financial advisors in this boat! Regardless of your thoughts on it, social media IS a part of the business reality in the 2020s and it CAN enhance your practice as a financial advisor.
Here’s 3 ways we’ve found social media works for financial advisors.
- Social Media Attracts New Clients
It might shock you, but financial advisors who utilize digital marketing see 50% of their new leads from social media. How? Consumers are doing more internet research than ever before making
a buying decision, especially for life-changing purchases like cars, homes, and financial decisions. Your website & social media are the only salespeople that are working 24/7 – you could be building a relationship with prospects
you don’t even know exist yet!
- Social Media Retains Clients
One of the lesser-known functions of advertising is to enforce the purchasing decision that has already made, especially for bigger-ticket items. For example - when a new Lexus owner sees an advertisement
portraying Lexus owners as sophisticated, high-class, and smart, their decision to buy a Lexus is reinforced. The same goes for financial advisors.
The #1 reason clients leave a financial advisor is lack of communication.
Social media is a simple and effective communication tool to keep in contact with your clients. We suggest sharing valuable content to give your clients a reason to follow you. It doesn’t have to be earthshattering - small
tips/tricks/thoughts will do. You don’t have to give away everything for free, of course; these kinds of posts go a long way in establishing your credibility by showing your clients that you know what you’re doing.
connection is an underrated aspect of social media marketing. If people like you, they listen to you. But, if they trust you, they’ll do business with you. Humanize yourself/your brand to create a connection with your clients.
- Social Media Attracts New Website Visitors
Like we mentioned, your website is one of the few salespeople working for you 24/7. You can put your link in the bio of your social media profiles as well as link them directly in posts.
This an effective way to lead viewers to your website, where they can learn more about your history, process, and the ways you can help them. We especially suggest including a call to action, such as “read more”, or “find out
how we can help you.”
All in all, social media can be vast, intricate, and a little silly – but it can work for your financial advisory practice! Myriad knows the way; e-mail Abby at firstname.lastname@example.org today
to start enhancing your social media!