Are you struggling to find success through social media? Don’t worry, we know it’s hard. Many advisors often say that social media just isn’t right for their business because they are not getting results. Other advisors have social media for the sake of having it, even if they aren’t getting results. If you fit into one of these categories, take a step back. All you need is a killer social media strategy, and we are here to help with that!
daily time spent on social is increasing across all
markets and all major demographics. One in every three minutes online is spent on social networks or messaging apps.
Below we will take you through the 8 step process of building an effective social media strategy that will raise your social platforms to the next level.
Step #1: Set Social Media Goals That Align With Your Business Objectives
Before you do anything, it’s crucial to determine and understand why you are using social media for your business. Are you doing it to generate leads, build trust, get more attention, build brand awareness, etc. Goals give you a purpose as well as something to measure your success. These goals should be S.M.A.R.T meaning Specific, Measurable, Attainable, Relevant, and Time-Bound.
Setting these goals, however, is not enough. You also need to make sure that these goals align with your overall business objective. For example, if your overall business objective is lead generation, your social media goal should be to increase conversions.
Step #2: Discover The Ins And Outs Of Your Audience
Your social media efforts are not going to pay off if you don’t know who you are marketing to. Your audience is the key to determine what type of content you should post. In addition, your audience will help you determine when to post and where to post. Without knowing your audience, it will be almost impossible to turn into social media followers into customers.
Take a look at this ‘Who We Serve’ page from Lumena Financial Strategies
A great way to discover the ins and outs of your audience is by creating buyer personas. This helps you better envision what your audience wants and needs. Here is one approach to help you build the personas: ask yourself these questions
- Who are they?
- What are they interested in that you can provide?
- What social media platform do they typically use?
- When do they use these social media platforms?
- Why do they consume the content
- How do they consume the content
If you want more help creating buyer personas, check out 3 Steps to Creating Marketing Personas For Financial Advisors
Step #3: Conduct A Social Media Audit
If you are already using social media, before you start setting up any new channels, it’s really important that you look at what you are currently doing. Ask yourself what’s working and what isn’t. Who is connecting with you on social? Are your followers your target audience? Are you getting post engagements?
Here is a template provided by Hootsuite that you can use to help you get started with your auditing process:
Once you have gathered all this information, determine how you can improve your current social media platforms to obtain better results.
Step #4: Set Up New Social Media Channels
Once your existing networks are optimized, set up any new social media channels that you think would be beneficial for your business. It’s really important to not jump into every channel possible – maybe start with 2 or 3 that you think would be the best to use to reach your target audience and reach your goals.
Based on research conducted by the Pew Research Center, Youtube and Facebook are the most popular platforms.
It’s a good idea to create a mission statement for each social media channel that you choose to use. This way, you are able to stay focused and ensure that each of your channels has a purpose.
Step #5: Create Your Social Media Calendar
Now its time to create your social media calendar. It’s important that you plan your content in advance so that you what you are posting on each day. Your calendar also ensures that your posts are spaced out appropriately and that you are covering everything that you want to cover. From a strategic point, creating a social media calendar allows you to plan ahead to publish several posts to build awareness about any special promotion, demos, or webinars that you are providing.
You can create this social media calendar using many different tools such as Google Calendar, Microsoft Excel, Airtable, Microsoft Word, etc. Here is an example of a social media calendar template:
Step #6: Schedule Your Posts
Scheduling your posts is extremely important to make sure that you are consistent and on track. We recommend that you use a scheduling provider such as Hootsuite. These service providers allow you to enter your posts at your convenience and schedule them in advance so that you don’t have to post them in real-time. We know that as financial advisors, you are very busy and may not have the time to continuously post on your social platforms every couple of hours. Trust us, this is a lifesaver!
Don’t know what scheduling app is the right for you? Check out What’s The Best Social Media Scheduling App For Your Business?
Step #7: Measure Your Sucess
A really important part of your social media strategy is to figure out if your strategy is working. You want to make sure that you are tracking your success by looking at your metrics. Look at things such as how many likes on average do you receive on posts, whether or not users are sharing or retweeting your posts, and what’s the average click-through rate (CTR) for your posts. Other metrics that you can look at are post reach, amplification rate, conversion rate, etc.
Luckily, some of the most popular social platforms such as Twitter, Facebook, LinkedIn, and Youtube have built-in analytics
Step #8: Re-evaluate And Do It Again
Analyzing your analytics should give you some insight into what is working and what’s not. Now its time to re-evaluate your strategies and refine as needed. Social media is an extremely fast-changing realm in the digital world, which means that your social media strategy will be constantly evolving!