From Prospect to Client: A Client Acquisition Workflow for Financial Advisors
New client acquisition is an essential task for any financial professional looking to grow their business. But financial advisors often… Read More
Insights and best practices for successful financial planning engagement
• Valerie Rivera • June 2, 2020
Does this scenario sound familiar? You’ve worked hard on your latest marketing piece, ensuring that the content is helpful, actionable, and visually appealing. After fine-tuning it one last time, you release it into the world and wait. And wait some more. But the results you were expecting never materialize and the ROI on your time and resources takes a nosedive.
This unfortunate result can happen in any channel you use to distribute your marketing, but it’s especially common on social media. More often than not, the culprit has nothing to do with your marketing content itself. It just wasn’t right for the target audience.
Every financial advisor knows that the typical 72-year-old retiree has vastly different financial planning goals from a 23-year-old who just graduated from college. Likewise, their social media platform usage is just as different, so advisors should consider these consumption preferences and nuances in their social media marketing.
It’s time to ditch the one-size-fits-all approach for a better understanding of where you’ll find your audiences, how they use social media, and what they want to hear from you as a financial advisor.
If that number is someone’s age, there’s a lot of information behind it. Your prospects’ demographics affect how they find and consume your digital marketing content, as well as whether or not they’ll trust the advice and guidance it offers.
Generational marketing describes an approach used to target an audience that falls within a certain age range. While individual personality traits give every prospect their own set of nuances, the broad qualities shared by those from the same generation are hard to deny.
The following overview will give you a starting point for generational marketing with a few details on where you’re likely to find target audiences, and what they want from your marketing, so you can improve your social media presence.
Generational marketing, while clearly important, is only one aspect of comprehensive social media marketing for financial advisors. Download our latest eBook, “The Financial Advisor’s Guide to Digital and Social Media Marketing,” for insights on digital marketing hurdles, how to build a plan and what tools will best support your goals.
Sources:
1. Statista, “Facebook: distribution of global audiences 2020, by age and gender,” Feb. 14, 2020.
2. eMarketer, “The Three Ps of Gen X Tech Use: Plugged In, (Social) Platforms and Privacy,” Aug. 20, 2019
3. Marketing Insider Group, “A Guide to Content Marketing by Generation,” July 2, 2019.
4. Digital Marketing Community, “Facebook is the Most Used Social Network Platform by Millennials in 2018.”
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