Facebook ads are sponsored advertising blocks that show up in news feeds and on other Facebook pages. The ads you see on your Facebook page are selected specifically for you based on your profile — your established interests and those of your Facebook network. So why should this information be of interest to financial advisors?

Because Facebook has almost 3 billion users and Facebook ads for financial advisors help you get your share. When you post your first Facebook ad, Facebook knows exactly who will see it. That’s because the audience is predetermined based on their interests, age, geographic location, and even their purchasing behaviors. 

If this sounds like the targeted marketing you’ve been looking for, use these 5 tips to create financial advisor Facebook ads that generate leads, drive traffic, and increase conversions. 

How to Generate a Steady Stream of Facebook Leads for Financial Advisors

 

  • Find Your Target

 

In an FMG Suite webinar, Jeff Runyan, Founder of Runyan Capital Advisors summed up targeted marketing perfectly: “When you can identify with a target group, that authenticity comes in and people see that you aren’t selling, you’re advising based on their needs.” 

That’s because targeted marketing starts with a select audience and then helps you build a marketing strategy, not the other way around. It doesn’t matter if you’re reaching out to retirees or millennials — targeted Facebook ads will help you speak their language. 

Watch this webinar replay to see how you can set up targeting and get started with social media ads:

 

  • Learn the Ropes

 

Keeping up with the latest social media channels and maintaining an online presence can be time consuming. But you hear it all the time — if your advisory isn’t marketing on Facebook, Google, Instagram, LinkedIn, and Twitter simultaneously, it can’t compete. 

Instead of spending your precious time and marketing budget trying to do it all, you’ll get better results by mastering one channel at a time. Unless you have a robust marketing automation platform in place, you’ll want to focus on Facebook ads and then branch out once you’ve learned the ropes. 

 

  • Focus on What’s Important

 

For most of your marketing efforts — and especially with Facebook ads — the most important metric is clicks. While vanity metrics like followers and website traffic numbers are encouraging, it’s the click throughs that make you money. Of course, not every click ends up as a conversion or even a warm lead, but when you get enough of those clicks, the odds are in your favor. 

Here’s the math: If your Facebook ad spend is $0.50 per click and you get a warm lead for every 100 clicks, that lead costs $10 ($0.50 x 100). If you convert one out of four warm leads, that conversion costs $40 ($10 x 4). Is a conversion worth $40? Most advisors would say it is, but each advisor will have to create their own profitable formula. 

 

  • Know When It’s Time to Level Up

 

While setting a budget for Facebook marketing for financial advisors is wise, don’t let that budget get in the way when you find a winning ad. Digital marketing for financial advisors isn’t an exact science, but every good business owner knows it’s smart to back a winner. When you know how much a client costs, analyzing Facebook ad performance is easy. If your ad spend is $1 and you’re getting a return of $1.50 on that ad, forget the budget. 

Whether it’s with Facebook ads, Google ads, or any other marketing channel, when an ad is successful, it’s time to level up and fuel that performance with your marketing dollars. And don’t worry about going “all in” too quickly. Facebook’s advertising platform makes it easy to tweak, pause, or otherwise control your ads and your marketing budget. 

 

  • Bring It Home

 

The goal with Facebook ads for financial advisors is to get those clickers off Facebook and onto your website or landing pages. When you’re successful, those prospects are on your turf, so you’re in control of the client journey, not social media. 

Once you control the narrative, it’s your job to move those prospects toward conversion using valuable content, engaging video, and other proven marketing elements. Remember: Likes and other engagement numbers are important, but it’s the click throughs that make you profitable. 

 

Use these tips to harness the power of Facebook ads and get a good handle on what works for your advisory. Then take what you’ve learned and apply it to other digital marketing channels using automation and other marketing technology. Before you know it, you’ll have the online presence and stream of leads your advisory needs to reach the next level. 

Learn more about lead generation, email campaigns, and social media scheduling when you get a demo of Attract™. From a modern optimized website to proven lead magnets, FMG Suite can help you bring more of your online audience home.