I hear from Advisors all the time about their experience with Facebook ads.
…that they “don’t work,” or that they’re “great at getting the phone ringing,” or that the lead quality is “terrific” or “terrible.
And when I dig deeper, one thing we find in common with most Advisors who have used Facebook ads is that the ad campaigns have been pretty generic. But if there’s one thing you need to understand about Facebook advertising, it’s that one-size-does-NOT-fit-all.
In fact, Facebook’s biggest asset is its ability to reach an audience that’s extremely targeted. And yet, targeting is only as useful as the ad you are running to your particular audience. Meaning that if the ad doesn’t seem like it’s for them, it’s gonna to fall flat.
In a recent search through Facebook ad archives, I came across several ad campaigns from Northwestern Mutual that do a great job of driving specific audiences to lead magnet built around specific topics. This is exactly the kind of targeted marketing we recommend in our book, Systematic Advisor Marketing.
This first ad is targeting individuals in their 30s. It’s one of several ads Northwestern Mutual is running to this audience, each depicting activities people in their 30s are likely to identify with, such as a wedding or a first home.
When someone clicks on the ad, they’re taken to a page displaying text that makes it clear they’re in the right place, and the content is designed specifically for them.
They’ve done something similar for people in their 40s as well…
…with a landing page to match.
Of course, targeting doesn’t have to be limited to someone’s age. The key to effective ad targeting is to speak to the ways that individuals self identify. The more specific you can get, the better.
For example, this is a great promotion directed toward those who identify as LGBTQ. Though I don’t have insight into how the ad was specifically targeted, it’s likely that it was directed at LGBTQ women in in their late 20s to early 40s, who are in a relationship, and have demonstrated some interest in investing, wealth planning, or follow a financial “guru” like Suze Orman.
This ad is targeting individuals who may be struggling with debt.
And, finally, this ad is targeting individuals who have a demonstrated interest in travel, and it’s tying that in with the idea that financial planning can help them see and experience more of the world.
Here’s the takeaway… if you’re a Financial Advisor with specific segments you want to target to grow your practice, Facebook is a great place to do so. If you’re up for it, try creating lead magnets for each particular segment of prospects you want to attract (if not, we can help). The more targeted you get, the better your conversions will be.