By Zoe Menendez, Senior Digital Media Manager
When you think about what social media platforms your advisory is using, what comes to mind? For most, it’s likely just Facebook and LinkedIn but this limited strategy could mean you’re missing out on valuable impressions and potential clients. In this article, we’re going to discuss why Instagram is an important platform for financial advisors to utilize for their business and how to use it.
You might be thinking that a platform like this is only used by a younger demographic, but that is far from the truth! Recent studies show that 35% of people aged 50-65 use the platform and 15% of people aged 65+ use the platform. While these are smaller percentages than a platform like Facebook, it shows that the audience is there… and it’ll grow. These smaller numbers indicate that those in this demographic are likely underserved on this platform, meaning they turn to Instagram looking for something meaningful to their lives, such as financial content, but turn away because it’s not there. This is where the importance of creating and maintaining an Instagram presence can make a world of difference for your advisory.
If you’re unfamiliar with Instagram, it’s a social media platform owned by Meta Companies (formerly Facebook, which still owns Facebook) that primarily focuses on letting its users share pictures and videos with captions. With new features like “Reels,” which lets users share 15-90 seconds videos, the platform is continuing to evolve and connect users with content they like and value. It’s quickly becoming a platform where people can learn various things from cooking tips, book recommendations, and even financial tips for retirement.
By having an Instagram strategy, you can engage with your audience using a platform that’s catered to them, sharing content they enjoy in a media format they like, and don’t see it as a chore to check. If you’re struggling to imagine what an Instagram strategy looks like for a financial firm, think of this: You could film a quick video while you’re on the golf course to inform everyone of how the stock market is doing today compared to your flagship strategies, or share 3 common tax mistakes people make in their retirement strategies. On these platforms, with the right engagement strategy, you can create connections with your current clients, constantly prove that their finances are in good hands, and also grab the attention of potential clients down the road.
But remember, anything worth doing can also be done poorly, so to avoid a failing Instagram strategy, it’s important to have a fully integrated team that can focus on the details for you. This requires administration and marketing expertise—something advisors like you have ready access to with Simplicity Lone Beacon. By sharing your knowledge and personality with your audience in simple, easily digestible ways—on their terms, and on the platforms they trust—you’ll stand out amongst your competitors in an already crowded marketplace. Instagram can also be a great way to connect with your audience on a more personal level. We’ve found that even just sharing updates such as new employees to the firm, team outings, new office renovations, or photos from recent events tend to perform well, meaning people engage with these posts, entering your brand ecosystem in a genuine way.
But this isn’t a one-and-done task. Only after consistently sharing your content on Instagram, your audience start to see you as an expert in this field—but more than that, the expert that’s there for them. If you stick to it and develop a fully functioning, ongoing social media and Instagram marketing strategy, when prospects eventually need financial help, you’re who they think of. This strategy is something we live by at Lone Beacon for almost every platform we have our advisors run on, and it’s no different for Instagram.
While what we’ve discussed so far is what we call in the marketing world, “organic” social media strategy, having an Instagram can have a major impact on your paid digital advertising campaigns on Facebook. Get this: since Meta owns Instagram, all ads that are shown on the Facebook platform can also be mirrored on Instagram. In fact, at Simplicity Lone Beacon, we make sure all our advisors’ ads get served on both platforms and that all content you might share on Instagram can be repurposed in some ways for many other platforms out there. What you should take away from this is that there are people using Instagram that want to do business with you, they just haven’t seen your firm yet.
Venturing into a new platform can feel intimidating, especially if you’re not savvy on social media. But that’s where our team comes in. At Simplicity Lone Beacon, we have specialized teams that can help you strategize and execute a successful social media and Instagram campaign. You bring your personality, your unique firm and strategies, we’ll bring the marketing expertise and hands on execution.
About the Author: Before Zoe came to us she worked with two well-known New England advertising agencies where she honed her skills at digital marketing serving both local and national accounts. She attended Johnson and Wales University where she won two national collegiate advertising titles and graduated with a BS, as well an MBA in Advertising and Marketing. Zoe is a native New Englander and grew up in New Hampshire, but happily for us left for the city life in Boston where she resides and is a proud mom to her cat, Winston.
Edited by Graeme Mills, Content Manager
