August 31, 2022 – It’s no secret that social media is a powerful, effective channel to promote financial services in today’s interconnected digital world. If done right, social media can help enhance current client relationships and cultivate prospective clients. It is also one of the easiest ways to make information more accessible to your clients organically.
According to leading investment management firm Putnam, a whopping 83% of U.S. financial advisors use social media for business purposes. Hence, it is no longer a question of whether social media helps you obtain a competitive advantage, but rather how you can best utilize it. If you are understandably confused about harnessing your social media presence, here are a couple of tips.
Understand Your Target Audience
Even before creating your social media accounts on relevant platforms, you must know who you’re going to be talking to. Ask yourself who your audience is and start building a persona for this audience. As a financial advisor, your target audience could be young working professionals, dual-income couples, families with kids, retirees, small business owners, or even recently married or divorced couples.
These are the possible groups of people that would require the services of a financial advisor. It is extremely important that you expand on the categories within your audience. Do spend time defining your ideal client to know who you’re trying to reach on social media. This will definitely help produce content with messaging that is directed to your audience.