Boost Your Buzz: Social Media Tips for Money Managers

Social media is an effective tool to both maintain a current book of business and expand to new clients. 

With billions of people on social media, it can function as a way to easily connect with a wide audience. 

Money managers who make creative use of social media can better define who they are and build trust with others. 

Understand Your Market

The biggest mistake advisors make when it comes to getting active on LinkedIn, Facebook, or Instagram is not taking the time to evaluate their audience.

The cohort could be older adults, Gen Z, or certain professions including teachers or mechanics. 

Money managers need to tailor posting to platforms that target a desired demographic. They also need to ensure the content is made for that specific group.

Pro Tip: Understanding your Ideal Customer Profile (ICP) is crucial for the success of your marketing efforts. An ICP helps you focus your resources on high-value customers who are most likely to benefit from your services. Here’s a step-by-step guide to help you create your ICP:

• Identify Key Characteristics: Start by identifying the common traits of your best customers. Consider demographics (age, gender, income level), psychographics (interests, values), and firmographics (industry, company size).

• Analyze Behavioral Data: Look at the behaviors of your top customers. What are their purchasing habits? What content do they engage with? How do they interact with your brand?

• Understand Pain Points and Needs: Determine the challenges your ideal customers face and how your services can solve their problems. This will help you tailor your messaging to address their specific needs.

• Develop Customer Personas: Create detailed personas that represent your ideal customers. Include information like their goals, challenges, and how your solutions fit into their lives.

• Validate with Data: Use data analytics to validate your ICP. Ensure that your profile accurately reflects the customers who bring the most value to your business.

• Refine and Update: Your ICP is not static. Continuously refine and update it based on new data and changing market conditions.

Need help figuring out who your ICP is? We can help. Click here to schedule a time to talk. 

Hop Into The Pit 

Another mistake advisors are guilty of is being afraid to engage. 

It’s not enough to simply post content, advisors need to be willing to interact with others in the comment section. 

By connecting with someone through replies, it allows the advisor to link one-on-one with a person which aids in building trust or establishing a new lead. 

Pro Tip: Engaging authentically with your audience on social media is essential for building trust and fostering long-term relationships. Here are some strategies to ensure your interactions are genuine and impactful:

1. Be Human: Show the human side of your business. Share behind-the-scenes content, team highlights, and stories that reflect your company culture. People connect with people, not faceless brands.

2. Listen Actively: Pay attention to what your audience is saying. Monitor comments, messages, and mentions. Show that you value their feedback by responding promptly and thoughtfully.

3. Create Valuable Content: Share content that educates, entertains, or inspires your audience. Focus on providing value rather than pushing sales. This builds credibility and positions your brand as a trusted resource.

4. Use a Consistent Voice: Develop a unique brand voice that resonates with your audience. Whether it’s professional, friendly, or quirky, consistency in your tone helps build familiarity and trust.

5. Encourage Conversations: Ask open-ended questions, create polls, and encourage user-generated content. Engage in discussions and acknowledge contributions from your audience to foster a sense of community.

6. Show Appreciation: Recognize and appreciate your followers. Highlight user contributions, celebrate milestones with your audience, and show gratitude for their support.

7. Be Transparent: Share successes and failures alike. Transparency builds trust and shows that your brand is honest and relatable. Address any issues openly and sincerely.

Community management is time-consuming. Click here if you want to learn more about how we can help.

Consistency Matters

Like most areas of life, being consistent is incredibly important. 

An advisor aiming to maximize social media should create a schedule and stick to it. If clients and leads know to expect material at certain times, they will know when to seek it out.

Inconsistent posting causes people to lose interest or stop engaging with the person posting on social media. 

Pro Tip: Here’s how to maintain a consistent strategy that keeps your audience engaged and your brand top-of-mind:

1. Develop a Content Calendar: Plan your posts in advance with a content calendar. This helps you stay organized, ensures a steady flow of content, and allows you to strategically time your posts around key events and promotions.

2. Set Clear Goals: Define what you want to achieve with your social media efforts. Whether it’s increasing brand awareness, driving traffic to your website, or boosting engagement, having clear goals will guide your content strategy.

3. Maintain a Consistent Voice and Style: Your brand should have a distinctive voice and visual style. Whether it’s professional, casual, or playful, ensure your tone, language, and design elements are consistent across all posts.

4. Schedule Posts: Use social media management tools like Hootsuite, Buffer, or Sprout Social to schedule your posts. This ensures your content goes live at optimal times, even when you’re busy with other tasks.

5. Engage Regularly: Consistency isn’t just about posting regularly; it’s also about engaging with your audience consistently. Respond to comments, participate in conversations, and show up for your followers.

6. Track Performance: Regularly review your analytics to see what’s working and what’s not. Adjust your strategy based on the performance data to keep improving and staying relevant to your audience.

7. Be Flexible: While consistency is important, be ready to adapt to changing trends and audience preferences. Flexibility allows you to stay relevant and responsive to new opportunities.

Need help getting started with a content calendar? We can create one for you. Click here to hop on a call to discuss. 

Action Items 

Social media posts need to include a call to action or be easily shareable. 

While there is no straightforward way to accomplish this, advisors should think critically about what their audience wants to engage with. 

Posts should spark debate or reach people on an emotional level. Advisors can also motivate an audience to engage by posing questions or prompts which invite discussion.

For sharable content, advisors should generate visuals that look clean, crisp, and have a clear point.

If the visual component is not appealing, there is a low chance anyone is going to put it on their own social platform.

We Can Help

Given the number of people on social media, the advantages to a quality social media presence are immense. 

If an advisor does not have the time to create exceptional material, they should reach out and partner with someone else.

If you need help keeping consistent on social media, click here to speak further. We can help.