Focus to Flourish – Why Advisors Needn’t Be on Every Platform

When you ask financial advisors what their biggest pain point is, most times they will say it is getting in front and staying in front of people. Chasing return on attention is just another thing that can make prospecting a source of overwhelm. While it may seem sensible that increasing visibility could lead to more clients, advisors run the risk of wasting time and resources targeting the masses instead of using a focused acquisition strategy. That’s why it is important for advisors to understand their audience, know where they live, and implement marketing that meets prospects and clients where they live.

Understanding Your Audience

Financial advisors often cater to a specific demographic, whether it be retirees, young professionals, families, or business owners. They may share the macro goal of financial security but they may not get their information in the same way. Speaking in generalities, retirees might prefer email newsletters filled with detailed financial advice and Facebook for keeping tabs on their grandkids, younger generations may prefer visual answers to questions from Instagram or TikTok, and business owners might be more active on LinkedIn, seeking quick tips and industry insights. Advisors who not only get their audience but know how they consume information will be better positioned for marketing success.

Quality Over Quantity

In order to advance their message and be more efficient with their marketing, financial advisors may be tempted to post the same messaging across all social media channels. They may opt for a broad-based website content strategy trying to appeal to everyone who visits. Considering the time it takes to create and manage content, this approach is common. That doesn’t mean it’s best.

Content should address the specific needs of their audience. Let’s imagine that an advisor’s primary audience is retirees. How long do you think someone with post-career priorities will stay on an advisory website if the stock images on it reflect millennials and young families? Are they going to be interested in social or email newsletter content that speaks to owning their first home or rolling over a 401(k)? No. Content should resonate with this audience. Advisors should double down on blogs focused on investment strategies for those nearing and in retirement. They should post content that promotes establishing trusts for grandchildren or why life insurance may be worth keeping as a retirement income asset. Fewer pieces of content with more impactful messaging are likely to drive stronger results.