One of the most difficult yet essential parts of becoming a financial advisor is getting clients. A robust marketing strategy complete with digital advertising is essential in finding prospects and converting them into customers. This article explores the benefits of using targeted digital ads on Facebook and Google and offers strategies for creating successful ads for each platform.
Get the expert marketing advice and tools you need to find new financial clients and increase investment from existing ones.
Why your business needs a digital marketing strategy
For many small businesses, word-of-mouth advertising is still the best way to find new clients. But digital marketing allows you to cast a wider net. Using targeted financial services advertising on Facebook and Google to find people in your area helps you build brand awareness within your desired market.
Facebook financial advisor ads
According to an August 2020 blog post on Sprout Social, Facebook ad impressions rose 37% in 2019. Furthermore, the site states that an estimated 74% of high earners still use the platform, making it a desirable platform for placing ads.
Define your target market
Facebook lets you target ads in a variety of ways. You can set your ad to display for certain age groups, locations, other demographic factors — even by interest. Determining who you want to target will help you set a goal for your ad and develop your message.
Use the Instant Experience tool for greater storytelling
Facebook offers several different types of ads. You can choose to run a sponsored post or an Instant Experience ad. This is a multi-media tool that lets you combine video with still photos and calls to action in a full-screen ad. Formerly known as Canvas ads, Instant Experiences allow you to tell a more comprehensive story, making them good for client relationship building and brand awareness.
Wealth management company Stashaway used simple animations with a call to action directing customers to download the app.
Target a micro group of people
Rather than trying to make ads that speak to everyone, try a simple ad that is targeted to a small, specific group of people. When looking for financial advisors, people want someone that they can trust. Microtargeted financial advisor ads can be made more personal. Since they appeal to a smaller audience, they can be made to look specific to your key demographic.
James Lange, a CPA and Attorney in Pennsylvania, ran a Facebook ad specifically targeted toward seniors. The ad reads more like an article but effectively sells financial planning services for people on Social Security.
Build your credibility
Your current clients likely use your financial services because they trust you to make good decisions with their money. Posting financial advisor ads on Facebook that lead customers to a link with useful information is a good way to build up your credibility. Nest Egg Alert, a financial software company, ran a Facebook ad with a link to a blog post about how to protect their retirement savings. Ads with helpful links can help you build a rapport with potential customers.
Constant Contact offers a tool that makes it easy to develop different types of Facebook ads. Once you have determined your strategy and written your copy, you can use the tool to make and post your financial services ad.
Google ads for financial services
Since Google is the most widely used search engine in the world, running ads on this platform has the potential to put your services in front of a large group of potential clients. Google offers a variety of tools you can use to advertise your services from sponsored listings to targeted ads.
Use Google Adwords to create sponsored listings
Google ads allow you to effectively pay to have your company listed at the top of a search. If you are a financial advisor living in Chicago, you can run an ad so that your business appears at the top of the page whenever someone searches “financial advisors in Chicago” or some other combination of keywords. Searching for “financial advisors in Denver” brings up four different businesses that have paid for ad space and a map of their locations.
Use a display ad
Along with a keyword strategy that lands you top listing in the search results, Google offers display ad services that allow your financial advisor ads to be displayed on different websites while people are browsing online. Like Facebook, you should devise a strategy in order for this tool to be successful. Decide who you will be targeting so you can tailor your copy. Like traditional print ads, financial services display ads can fade into the background of a website, so use creativity to make your ad stand out.
PNC Bank used a slide show in its display ad that touted its account management app. The company put a humorous spin on account monitoring by showing images of a dog behaving badly.
Launch a video campaign
Google offers a video ad option in which your sponsored videos are added to different YouTube videos. This option gives you a captive audience for at least five to ten seconds since viewers are not usually able to skip the whole ad. If you’re using a video campaign, you will only have about 30 seconds to tell your story like you would in a traditional commercial.
Investment company Betterment has a dedicated YouTube channel, but the company also makes brief ads that introduce its services to clients through other videos. Its mission commercial offers a simple overview of the company with a call to action driving traffic to the company’s website.
Constant Contact also offers a Google ad builder tool that you can use to create your ad. If you’re simply posting a sponsored listing, all you need to do is fill in the contact information for your business and write a brief meta description about the services you offer. The Google ad builder tool offers professional templates for a responsive and visually appealing display ad that will get your company noticed on various websites.
Regardless of the platform that you have chosen to use for your targeted digital ads, there are some general rules that you should follow when creating your ad.
- Keep your language simple and free of technical jargon. You want to come across as trustworthy and credible, but don’t assume that your target clients know what various terms and acronyms mean.
- When using images, make sure that you have the rights to use them. You can’t grab an image off of the internet and place it in your ad, or you might find yourself on the wrong end of a cease and desist letter. It is worth spending a little money on stock photos that can be used for commercial purposes.
Although word of mouth still serves as the best method of advertising, using targeted digital ads is an effective way to promote your financial services company. These ads introduce your company to a captive audience on the internet. Most of today’s consumers use the internet to research services companies, including financial advisors. Before executing your digital strategy, create a clear goal and build your ad around your target audience.
For more tips on how to gain more clients, check out The Download, our free guide to help you make sense of online marketing.