Finding prospects on social media can feel like searching for a needle in a haystack. After all, there are 2.27 billion monthly active Facebook users. So, how do you start narrowing your audience to people who actually may have an interest in your services?
The answer … retargeting.
We speak with advisors daily about Facebook strategies. In fact, as we’re writing this, we’re on a plane to San Diego to present to a group of advisors on the topic. We can’t tell you how many advisors we speak with who tell us they are proficient with Facebook ads. But after some digging, we discover they …
- Only “boost” posts.
- Don’t have the Facebook pixel installed.
- Run ads to only cold audiences.
Translation … they are missing the mark.
Cold vs. Warm Audience
Most inexperienced Facebook users run ads only to cold audiences, targeting people who have never come in contact with their business. This would be like cold calling but without ever following up on those who signal interest.
The goal when running Facebook ads to a cold audience should be to develop a warm audience. When someone gives you any signal of interest (article view, website visit, etc.), it’s smart to focus your advertising in their direction.
The following are three Facebook ad retargeting strategies for financial advisors.
Strategy 1: Custom Audience
Prospect Emails >> Upload >> Facebook Ads
You know all those prospect emails in your database? The ones you’ve collected for years and years? Maybe you send them a weekly newsletter or invite them to your seminars. Well, this strategy enables you to put those emails to use. When you upload this list of emails to Facebook, you can then send them targeted advertising. It’s a way to stay in front of them, without seeming like you’re coming on too strong by calling or emailing too often.
Strategy 2: Website Traffic
Ad 1: Compelling Content >> Facebook Pixel >> Ad 2: Call-to-Action
This is a simple strategy but really effective. With the Facebook pixel installed, you start by running ads to a cold audience with the objective of driving traffic to your website. To do this, use compelling content and simply give it away. This might be a blog, video, calculator, etc. (Pro tip: Carousel ads are a great way to showcase multiple pieces of compelling content.)
After you’ve run enough website traffic ads to fire your pixel, you can then run ads to your warm audience (website visitors) with a clear call to action. You will have the option of tracking visitors up to 180 days.
With this new ad, your goal is conversion. You might offer them a download in exchange for contact information. Perhaps you offer to schedule a meeting with you. You get the point. The “ask” isn’t presented to the cold audience, only the warm audience.
Want to take this strategy a step further? You can also retarget people who’ve been to specific pages on your website. This may give you an even stronger indication of interest. For example, you could retarget people who have visited your “education planning” section on your website.
Strategy 3: Video Views (Engagement)
Ad 1: Video 1 > Ad 2: Video 2 > Ad 3: Call to Action
Did you know you can retarget people based on how much of your Facebook video they watch? This next strategy is all about funneling viewers who’ve watched a portion of your video into a clear call to action.
Start by recording a video offering advice on a topic your prospects care about. Ideally, ensure the video is about 5 minutes in length. After running the video, develop an audience of people who watched at least 25 percent of your video. That’s only a minute—but an eternity when it comes to Facebook engagement.
Next, create a second video and serve it to the 25 percent who watched the first video. Finally, serve an ad with a clear call to action for those who watch at least 25 percent of the second video.
Now we’re cooking. Facebook used to be easy. Now, if you want results, you have to develop a more-advanced strategy.
@StephenBoswell is president of The Oechsli Institute and author of Best Practices of Elite Advisors. @KevinANichols is the chief operating officer for The Oechsli Institute and author of The Indispensable LinkedIn Sales Guide for Financial Advisors.