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Five mistakes financial advisors make on social media and ways to avoid them

As a financial advisor, it is key that you utilise social media as a part of your overall marketing strategy. It not only boosts your engagement with clients, but gives people access to your content and increases your leads. However, success in the social media space does not happen overnight. While it’s great to increase your sales efforts, there is a few common mistakes made that can be avoided.

AdvisorPR published 5 common mistakes financial advisors make on social media and ways to avoid them:

1. Jumping on social media without a plan

Don’t just post on social media sites for the sake of posting. First answer the following questions:

  • What are my goals?
  • What channels should I be on?
  • How am I going to measure success?
  • Who/What/Why am I on social?

Jumping into the social media world without a plan is going on a road trip through Europe with a map of the USA. It is therefore important to take a step back and re-evaluate what you are doing right now, as well as what is and what is not working? Just like working with your clients, identifying and clarifying their goals is the essential starting point for social media success.

2. Thinking you have to be on all social sites

It is important to note that not all social media platforms are the same. Just because there is a place to post content, doesn’t mean you have to. If you are targeting retirees, Instagram might not be the best place to post as the population is geared towards teenagers and mid- individuals in their twenties. If you are wanting to build business connections with strategic partners or potential clients, reaching out on LinkedIn is likely a better choice than Instagram. Start with one channel and move towards others as you gain more confidence, and your online voice becomes clearer.

3. Moving too fast

Social media, especially Twitter, moves fast and there is the temptation that you must move as fast. However, slow down and be careful as to what you post and how you post. A well-crafted post can go viral; however, a poorly written post can also go viral in a negative way.

Before you post, take a step back, review for the obvious spelling and grammar errors. Remember nothing is “deleted” from social media. Make sure that what you are posting aligns with your brand image, morals, and values.

4. Just pushing sales

Individuals on social media want to be entertained, are looking for solutions, want to be educated and want to engage. Having frequent sales pitches will cause your followers to unfollow you. Instead, engage with your followers, ask their opinions, seek feedback and respond to comments they post on your platforms to the fullest extent that you are able within your compliance limitations. Share educational articles or create original content about subject matters you see in your business. Remember, Moonstone newsletters contain numerous articles to assist in this regard.

5. Not using visuals

According to research, content with visuals get 94% more total views than plain text posts. Don’t be afraid to include a relevant picture with your posting or even a video.

Having a strong social media presence and a clear plan targeting the right platforms will ensure you stay on top of people’s minds.

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