How Advisors Can Use Facebook Groups to Target Niche Client Segments
Facebook can provide a pathway for financial advisors to connect with prospective clients.
Given the wild popularity of the social media giant, advisors can look to Facebook groups as a way to target their efforts and get in front of niche client segments. Those niches may include retirees, small-business owners, blended families or recent divorcees.
First, in order to meet prospective clients, even in the virtual world, you must be compelling and persuasive when demonstrating your value. It's a delicate balance.
Additionally, connecting on Facebook requires authenticity. You have to make sure that people feel that what you share online (including the personality you're displaying, the livestreams you're doing and the photos you're taking) is what they would experience if they met you in real life.
Here are six tips to present yourself as a subject matter expert on Facebook groups and build stronger relationships with prospective clients.
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Pull Your Strategy Together
If you're a social media newbie or haven't spent much time using Facebook for business purposes, here's how to get started.
1. Make sure you have an approachable personal Facebook profile. It starts with someone feeling like they know you. If you comment on a post, or a Facebook user is intrigued by what you shared, that person may click on your profile to inquire further. Make sure your profile picture is professional, and don't be afraid to share some of your personal interests via photos or videos.
2. If compliance allows it, link your company website to your personal Facebook page. If someone clicks on your profile, they may also click on your website link.
3. Identify the kinds of groups and communities you want to serve and simply hang out in those forums for the first week. Watch and see what kind of questions or topics are shared. After you've gotten a feel for the group, introduce yourself.
4. Remember that your posts will become a permanent archive in the group, so answer the questions presented, but show how you've helped clients with similar problems (don't share any personal names). It's quite possible that at some point in the future, someone else will have that same issue and can do a search within the group. Your post may appear to a completely new prospect.
5. Don't post in groups from your business page, if you have one. Individuals want to see a real person behind the page, not a business profile. This is important to build trust, familiarity and rapport with the Facebook group members.
6. Remember, social media is a long game, so it may take time before someone wants to connect with you to speak further. Consistently show up, and your name will become more familiar to the group members.
[READ: Grow Your Financial Advising Practice With Digital Marketing.]
Be Authentically You
Demonstrating authenticity prior to any sales pitches is so important. Prospective clients want to feel as if they know you as a person.
This task is best completed when financial advisors can share aspects of their personality, interests and thoughts on social media. Does what you share resonate with your audience? Are you a likable person from the content and information you share? When people feel like they know and like you and get value from your content, that can set you up to become a trusted person in their minds.
Know Your Market
Knowing your market goes beyond identifying racial or gender characteristics. It also means understanding the unique problems your target market faces. One of the fastest ways to connect with prospective clients on Facebook is to know whom you serve and how.
If you work with happy-go-lucky retirees, business owners looking to exit their company in the next five years or high-earning go-getters, you should ask yourself: What social areas are they most interested in? What hobbies do they have? The same goes for serving blended families: What makes them tick? Taking an interest in their social activities or hobbies, then joining a Facebook group based on those pastimes will give you direct access to them. Bonus points if the hobby or interest is a mutually shared one.
Always Provide Value
What should you do when you join the group? Do not pitch yourself. Repeat. Do not pitch yourself immediately.
Do not hop in to a prospective client's direct messages asking for a meeting. The fastest way to get blocked and be seen as "salesy" is to start off by trying too hard to make the sale.
Begin by introducing yourself and what you hope to learn from the group. Sharing original content and focusing on providing intelligent answers to their burning questions can help you stand out as a subject matter expert.
Imagine being in a group of women or men who've experienced divorce and are concerned about how to navigate their new financial lives. These individuals have unique needs, and by engaging on the platform, providing value in groups and answering their questions, you'll stand out. This approach can help cut through the "noise" online.
[Read: The Best Podcasts for Financial Advisors]
Stay Engaged on the Platform
Going silent makes it hard to reestablish connections in social media.
Imagine yourself at an in-person networking event. Would you ask a question, then disappear before getting an answer? How rude is that? The same is true for social media.
If you ask a question or comment on a post, make sure to check back and see what kind of responses you received. Responding back shows that you're active, appreciate the time someone took to reply to your message and are engaged in the discussion.
Always Ask for Permission to Connect Via Direct Message
Many Facebook groups are moderated by administrators, or admins, who monitor and watch what kind of engagement is happening. Respect the group rules, and when in doubt, always ask the person you're engaging with if it's OK to connect with them via direct message. If you've positioned yourself well, the person should feel as if they know and like you, and you've respected them enough to get their permission in advance. These social etiquette steps go a long way toward securing a potential new relationship with a prospective client.
Facebook isn't going anywhere and financial advisors who can establish themselves in the right groups can find a goldmine. Understanding who you serve and how you serve them will help you stand out in these social groups.
Before adopting any social media strategy or platform, you should check with your firm compliance department to make sure it's in alignment with your firm's policies and procedures.
