Facebook Ads are an inexpensive way for advisors to make contact with prospects they don’t already know. The downside is that the ads are sometimes poorly targeted, resulting in plenty of “junk” traffic. This happens when the ad’s audience is not properly set up to focus on qualified prospects.
To reach people within your niche, you’ll need to narrow the audience for your Facebook ads. Here are three clever ways to make sure you’re advertising to the people who matter most to your firm.
Think About Your Competition
If you have a direct competitor in your town, that means you probably share potential customers. One easy way to find your prospects is to use Facebook ads to target people that are interested in your competitor’s pages or posts.
When you’re creating your advertising audience, under Interests > Additional Interests, search for the names of your competitors. This way, people who have liked your competitor’s page or clicked on their content will now see your ad!
Create a Lookalike Audience
Facebook has so much information on its users that it can “clone” them for advertising purposes. By using a “Lookalike” audience, you can show your ad to people who are demographically similar to your existing clients.
You can create a lookalike audience by integrating your MailChimp account directly with Facebook, or simply by uploading a list of email addresses. Facebook reviews the information of the users you’ve selected and creates an audience that “matches” them.
Remarket to People Who Have Visited Your Site
“Remarketing” is advertising to people who have already visited your website or clicked on your ads. To do this, you install a tracking code from Facebook onto your website so that Facebook can “see” which users have visited your site, then show those users your ads. Instead of spending your ad budget on complete strangers, you can pinpoint people who have already expressed an interest in working with you.
This is a great way to nurture prospects who have visited your site but have not engaged with you quite yet. In fact, if you are reading this post from Facebook, it’s likely because you’ve visited my website before and I’m remarketing to you using Facebook ads!
Now that there are 2 billion Facebook users and 5 million Facebook advertisers, Facebook ads are becoming harder to ignore. With prices as low as 60 cents per click, they offer financial advisors an easy and cost effective way to make contact with prospects. The trick to successful Facebook ads is in properly targeting your qualified prospects before you create your ad.
Claire Akin runs Indigo Marketing Agency a marketing firm serving top independent financial advisors. Claire is a former Investment Advisor Representative who holds her MBA in Marketing from the Rady School of Management at UC San Diego as well as a BA in Economics from UC Davis. It’s her goal to help specialist advisors target their ideal prospects with content marketing.