For many companies, growing a social media presence can be difficult. For wealth management firms, it can be even more challenging because of the compliance guidelines that must be followed. While most companies tend to shy away from Twitter and Facebook, we have one client that’s embracing it.
Because this client had limitations on how they could promote their accounts, we looked at some alternative methods and decided to advertise on both Twitter and Facebook as a way to grow our client’s communities. We liked this option because it allowed us to hyper-target their audience without spending a lot of money (less than $500) on ads. Rather than just promoting the company, we decided to support the firm’s dedicated niche in serving women by aligning the campaign with International Women’s Day. We felt this was important because we needed to find a way to make the company both relatable and relevant to their audience. We developed two campaigns on Twitter. The first was a follower campaign that encouraged people to follow them. The second was an article to encourage activity on their website. On Facebook, we chose simply to promote their page, aligning it with International Women’s day.
The results were amazing. In just one day, we were able to grow their followers on Twitter by 52%, and their engagement increased 150%. The Facebook campaign produced a 25% increase in new followers, compared to the the average 3% increase the company normally obtained.
Both campaigns also drove an increase in website traffic. New users doubled and overall visits were up 15%.
In our 2014 Social Media Survey, we found that most CPA and wealth management firms had still not embraced Social Advertising. Social advertising can provide companies a good way to grow their communities in a very targeted way. For the cost of a golf outing or hole sponsorship, firms can reach and engage with a lot more people.