Target audience with Facebook advertising for financial advisors

Facebook Advertising for Financial Advisors

Facebook advertising has many benefits to help grow your practice. Here are 5 ways you can reap the benefits of Facebook advertising.

Gone are the days of phone books, cold calling, and rolodexes.


In this industry, obtaining new clients is heavily based on referrals. When your name or practice is introduced to a prospect, it’s likely that their first course of action is to do some research. All the information a prospect needs to make a decision is available at the click of a button.

Just like looking up reviews for a new restaurant in town to see if it’s worth making a reservation, prospects are going to do the same by performing a quick Google search.  They will be looking at your website, blog, and most importantly, your social media, to see who you are and what you’re all about.

Facebook advertising provides another great opportunity for you to grow your practice because it can almost feel like a referral. This I because the ad for your practice will pop up in your potential client’s newsfeed, right alongside post from their family and friends.  

Not only is Facebook advertising affordable, but it also gives you the ability to target a specific audience, obtain a wider reach, and receive real-time results.
 

Here are 5 reasons why you should take advantage of Facebook advertising:

1.     A massive audience

In 2020, Facebook is projected to have 1.69 billion users. Not only does Facebook have the largest audience with the highest activity, but it is also the most popular social media platform.

In 2018, Facebook was the most used and downloaded application in the world, and more than 96% of those downloads were on a mobile device. In short, Facebook advertising gives you the opportunity to market to your target audience across all devices.

2.     Laser-focused targeting

Gone are the days of phone books, cold calling, and rolodexes. Facebook advertising provides a larger audience reach and the ability to target your ideal client. By using Facebook advertising, you will have the opportunity to target specific demographics such as lifestyle, behavior, and interests.

For example, let’s say your target audience consists of women, who are doctors, age 45-65, and are living within a 15-20 mile radius of your office. By using this type of laser focused targeting you have a greater probability of getting your ideal client to register for a seminar, download a free e-book, or engage with particular materials you are looking to promote.

3.     More bang for your buck

Unlike traditional marketing tactics, Facebook advertising was created for small businesses owners, mom and pop shops, and start-up companies which makes this an affordable advertising solution. Advisors who are a part of LPL’s virtual chief marketing officer (VCMO), utilize a $100 budget each month for digital advertising. In the past year, we have seen incredible results from seminar registrations, e-book downloads, and general engagement on materials by using $100 per month in Facebook advertising.

4.     Responsive ad design

Facebook optimizes a responsive ad design to ensure that ads display in a clear, precise manner regardless of screen size. This means that ads can be viewed through a desktop, mobile device, or tablet, which increases your visibility and reach.

5.     Leads

In this business, lead generation is the name of the game. Facebook ads give the user the ability to quickly and easily opt into promotions, which can provide you with a fresh new lead.

Here’s how it works. You post an ad for a free download, a user clicks the ad, enters their name and email and just like that, you have a new prospect.

Facebook helps you get in front of a massive audience, target your ideal client, increase your visibility, and is surprisingly affordable. All of these factors create a great lead generation opportunity for your practice.

 

Now that you’ve figured out what to do with old blog posts and other content, find out more effective ways LPL can help you grow your business.

Already growing with LPL? Our marketing consultants can help you create financial advisor marketing plans, understand social media marketing and more. Access marketing tools or book a consultation in Resource Center.

You should consult your compliance department for information about the rules and use of social media.

 

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Ashley and her team provide digital marketing solutions to LPL advisors, banks, and institutions through the virtual chief marketing officer program (VCMO). In this role, she provides digital marketing consultations to advisors and leads a growing team that continues to implement innovative digital marketing strategies to better serve LPL advisors. View full bio.