Facebook Promotions For Financial Advisors (Beginners Version)

BradFriedman
Brad Friedman President, The Friedman Group, LLC

Posted on December 13th 2013

Facebook Promotions For Financial Advisors (Beginners Version)

facebook marketing

There are many ways financial advisors are using Facebook. A great way to grow your prospect list and generate new clients is by running online promotions. The idea of running a Facebook promotion may feel a bit Greek, but it is achievable – with just a quick understanding of how it works and some creativity, even the most novice social media user can get started.

Why Use Facebook Marketing?

Promotions are a tremendous way to grow your business. Running a promotion on Facebook can provide you with exposure to a large audience of potential clients.

If set up properly, when users enter your promotion, you will receive a direct line of contact to them as you add them to your network. Given Facebook’s popularity, having a large network on this valuable social media network is an asset to your business’ marketing plan.

How Facebook Promotions Work

There are numerous ways to run Facebook promotions. To start, you need an idea – typically a giveaway – that will entice people to enter your promotion and tie back to your financial advisory business. With regard to logistics, Facebook provides a variety of options:

  • Collect entries by having users post on the Page or comment/like a Page post
  • Collect entries by having users message the Page
  • Utilize likes as a voting mechanism
  • Use a third-party app

Whichever option you choose, you will have a group of entrants who are now tuned into your content as they await the announcement of your winner – and hopefully long after.

To make your promotion a success, you will need someone actively involved in the launch, marketing, and management.

Launch involves developing the promotion – think concept, giveaway, timeline, and taking it live on the Facebook platform.

Once your promotion is running, you will need someone to promote it on Facebook. You can do this organically through your Facebook page, by commenting on relevant posts, asking friends and colleagues to announce and promote the contest on their page, etc. You may also wish to advertise on Facebook. With Facebook advertising, you can limit the audience that receives your ad based on demographic data, such as age, profession, location, and more. This is a paid option, but by limiting recipients, you will focus your budget on more likely clients.

Unless you use a third-party application, you will need someone to manage your promotion, monitor who is entering your promotion and respond as necessary. If people are commenting on your posts or page as a means of entering, you need to be prepared to answer questions and remove any spam. You will also need to prepare for and announce the winners and then, ultimately, deliver the prize.

Tips For Running A Successful Social Media Promotion

The best way to run a successful social media campaign is to make your promotion original and get it approved by your Compliance Office before you start it up. Entice people to enter by offering a free giveaway of something of value. For example, you might offer a free initial consultation. Consider a vacation giveaway themed to the idea of “look what you could do with your extra cash if you properly manage your funds.” Get creative and have fun with it.

Ultimately, you must deliver the results and the prize to the winner. But don’t miss out on valuable leads – follow up with the other entrants, engage, and regularly post relevant, unique content to your Facebook page.

Running a successful Facebook promotion for your financial advisory practice takes some time, creativity, and social media savviness, but it is doable.

Photo Credit: Facebook Promotions/shutterstock

BradFriedman

Brad Friedman

President, The Friedman Group, LLC

Brad Friedman is a “Recovering Attorney” living in Denver, Colorado. In 2010, Mr. Friedman parlayed his passion for technology and his business, legal and marketing savvy into the creation of The Friedman Group, LLC. Brad has developed a group of highly skilled people to work with individuals and businesses to develop strategies that enhance their online presence and engage clients, prospects and referral sources through the power of inbound and social media marketing.

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