10 Facebook Marketing Tips and Tricks for Financial Advisors – SmartAsset

Facebook may be packed with viral videos and personal updates, but it remains a powerful tool for financial advisors looking to reach prospective clients. With the right marketing strategy, you can use the platform to build credibility, share insights and generate leads. Whether you’re just getting started or refining your marketing strategy, several proven tactics can help you market your services more effectively on Facebook.Add new clients and AUM at your desired pace with SmartAsset’s Advisor Marketing Platform. Sign up for a free demo today.Facebook is a marketing channel that advisors can’t afford to overlook for one simple reason: billions of people use it every month. While not every user on the platform represents your target audience, Facebook is a virtual sea of possibilities for advisors who are looking for opportunities to expand their reach.When used effectively, Facebook can help you generate new leads for your business and increase conversions. You have a chance to raise awareness about your brand and actively engage with prospective or current clients across the platform. A Broadridge survey of over 400 financial advisors found that four in 10 advisors converted a lead into a client using social media. The same survey found that Facebook and LinkedIn had the highest conversion rates. 1 Facebook makes it easier to market your advisory business since there are so many ways you can do it. Some of the ways that you can use Facebook for marketing include:There’s no cost to open a Facebook account for your advisory business and you can develop ad campaigns that align with your budget. You’re not required to use ads at all if you’re finding success with some of the other marketing methods listed above. But if you do decide to run ads, Facebook gives you the tools you need to track different metrics and measure their success.Pure Financial AdvisorsWe have seen a remarkable return on investment and comparatively low client acquisition costs even as we’ve multiplied our spend over the years.Pure Financial Advisors reports $1B in new AUM from SmartAsset investor referrals.Pure Financial Advisors, LLC is an actual SmartAsset client since 2019. Statements are individual experiences reflecting the real-life experiences of those who have used our services. The testimonials are not 100% representative of all of those who use our products and/or services, and we make no admissions of such. Additionally, they have not been paid for their insights. By clicking 'Book Now', you agree that SmartAsset may contact you via email and phone/text about your inquiry, which may involve the use of automated means. You are not required to consent as a condition of purchasing any goods or services. Message/data rates may apply.Now that you have an idea of what Facebook can do for your advisory business, it’s time to dig into some actionable ways to use it. Here are 10 common tips and tricks to help you leverage Facebook in your marketing plan:To use Facebook marketing, you’ll first need to create a business page. At a minimum, your page should include a banner image that ties into your branding, a professional photo of yourself and all relevant contact information that a prospect would need to get in touch with you.Once your page is set up, tell people about it. Invite people from your friends list to like and follow the page and encourage them to share it with others who may be looking for an advisor to work with.Marketing on Facebook or anywhere else can end up being a wasted effort if you don’t have any clear goals in mind. When setting goals for Facebook marketing, ask yourself what you specifically hope to get out of it.For example, your goals might include:These kinds of goals work because they clearly define an end target. Once you have that target in mind, you can figure out what steps you’ll need to take to get there.Consistency is one of the most critical elements required to be successful with Facebook or any other social media platform. You want your followers to come to expect content from you at regular intervals so that they’re routinely showing up to see what’s new.The frequency with which you post is up to you, but Facebook marketing experts often recommend posting one to two times each day. If that seems like too much to handle on top of what you’re already doing to scale your business, you might consider outsourcing content creation and posting to an experienced social media manager.In the early stages of growing a Facebook following, it can be difficult to know what kind of content will resonate most with readers. Trying out different formats can give you a better idea of what people want to see most from you.For example, you might try:The No. 1 rule for marketing as an advisor on Facebook is to create content that draws people in and encourages them to stay engaged with your page. Otherwise, your posts are likely to get lost in the shuffle if your followers don’t feel compelled to stop the scroll and pay attention to them.Facebook groups can be a great way to market your business if you’re interacting with other members, answering questions and generally sharing your knowledge and expertise. If you’re able to provide a thoughtful answer to a financial planning question to a group member, they may be more inclined to visit your page and follow up with you to discuss how you might be able to help them.One thing to note about joining Facebook groups is that there’s often a no-selling rule, meaning you cannot share links to your business website or message group members directly without their express permission. Violating those rules could get you kicked out of the group and earn you a reputation for being overly sales-focused.Running your own Facebook group is an opportunity to engage with your followers, rather than someone else’s. You can set the ground rules for joining and you have complete control over the kind of content you create and share.Facebook groups may be public or private, and you can choose just one option or both. For example, you might set up a public group where you discuss financial topics with your followers and have a second, private group that’s just for your current clients. You can then offer exclusive content to those group members only.Including a call to action in every post can be an effective tool for driving conversions, since you’re telling your followers what to do next.For instance, you might share a snippet from a blog post or article you’ve written and direct them to your website to read the content in full. Or you might ask them a question that’s designed to get them thinking about their financial situation and prompt them to give you a call to set up a consultation.Your CTA doesn’t have to be the same thing every time, but it should be specific in giving your followers an actionable step they can take next.Boosting on Facebook means giving a post you’ve written greater visibility, in exchange for a fee. It’s a simple way to get more eyes on a particular post rather than running a full-scale Facebook ads campaign. Boosting can also be helpful if you have seasonal content to share.For example, if one of your services includes offering advice on Medicare planning, you might boost a post asking followers if they’ve given any thought to the fall open enrollment period yet. You can also include a CTA inviting them to contact you to discuss potential changes to their Medicare plans.Boosting is more of a baby step to advertising on Facebook, but you might decide to take the leap and go all-in with a marketing campaign. In terms of how much it costs to market on Facebook, it depends on the number of ads you plan to run, how long you plan to run them and where you want them placed.You might start small, with an ad budget of $20 to $30 a day. If you see a positive response from those ads and some tangible results, such as more clicks to your website, then you might increase your budget to $50 or $100 a day.Some financial advisors may find more success with Facebook ads than others. Knowing what you’re willing to spend and what you can realistically expect in return can help you decide if Facebook ads are worth it.At its core, marketing is a numbers game. You’re analyzing how many likes, shares, comments and clicks you get to see what content is working best for you and where you could improve.Digging into the numbers can be time-consuming but it can be worth it if you’re able to identify your most valuable content. You can then either repurpose that content to be used across other social media platforms or replicate it to drive even more engagement.Facebook Insights provides valuable data on how your page and posts are performing. Regularly review these metrics to understand what types of content resonate with your audience and adjust your strategy accordingly. Key metrics to monitor include:Again, if all of this seems like too much to handle with your other responsibilities, you might consider hiring a social media manager. Outsourcing tasks like social media content creation and posting, or even lead generation, can put more hours back into your working day.Automate your marketing with a proven system. Automated outreach, nurture campaigns and more.Facebook offers financial advisors multiple ways to build visibility, engage with prospects and generate leads through organic content, groups and paid advertising. A thoughtful approach that includes clear goals, consistent posting, varied content formats and performance tracking can help advisors refine their strategy over time. When used alongside other marketing channels, Facebook can support steady growth and stronger connections with prospective and existing clients.Photo credit: ©iStock/Tero Vesalainen, ©iStock/JLco – Julia Amaral, ©iStock/zamrznutitonoviAll articles are reviewed and updated by SmartAsset’s fact-checkers for accuracy. Visit our Editorial Policy for more details on our overall journalistic standards.Recent postsMore from SmartAssetCategoriesSmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. SmartAsset's services are limited to referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matching platform based on information gathered from users through our online questionnaire. 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