Ever heard the phrase, ‘fish where the fish are?’ Marketers use it to demonstrate the importance of sharing your business’s messages on the platforms used by your target audience. While a bit hackneyed, it does make sense, and I spend an inordinate amount of time encouraging businesses to research where their potential clients are lurking ahead of committing to any marketing activity.
Facebook is an exception in some ways. Not necessarily seen as synonymous with the financial services industry, and in some cases, a rather neglected platform, I believe that Facebook business pages should make up part of every business’s marketing strategy in 2017.
Why? The reasons are three-fold. First off, more than half of the UK’s population logged onto Facebook at least once a month in 2016, according to eMarketer. Users include high net worth individuals as well as millennials, with recent granular reports showing a higher percentage of users in the 25 and 44 age bracket. To go back to that slightly painful marketing analogy again - an awful lot of the fish are on Facebook.
Secondly, Facebook is used more and more like Google. For would-be clients, it is fast becoming the place people can assess, review or refer your business. By creating a Facebook business page, you’ll allow your clients to easily make referrals and use the star rating service on the platform. For more information, check out Facebook’s guide.
Thirdly, the advertising is second to none in terms of targeting and cost. If your company does ramp up its social media activity by populating your Facebook business page with your content, then it is a good idea to set aside some budget for promoting that content. How might that work in practice? Say for example, you’ve recognised that a large segment of your current and potential client base are concerned about inheritance tax, you might decide to pen a week-long blog special on your corporate website to demonstrate the expertise and knowledge of your advisers. After sharing on Facebook, you can use a technique known as ‘boosting,’ which means you can push your content into the Facebook feeds of your target audience. Facebook targeting allows marketers to target people who match with certain locations, wealth, marital status, current pages they follow, as well as typical behaviours. There are many types of ads you can create via Facebook’s advertising platform, but for advisers starting out, the goal is likely to be to push potential clients back to their corporate site, which is why promoting blog posts is a useful technique for many.
Still unsure? Or perhaps you’re concerned about potential clients receiving ‘business-focused’ messages on a personal social media profile? Remember not to use your Facebook business page as a way to ‘hard sell’. Aside from the obvious regulatory roadblocks, your clients will simply respond better to informative and educational information that helps them understand their finances or the world around them.