With more than a handful of social media platforms to choose from in 2021, many advisors are left wondering which platform should you truly prioritize spending time on? In today's video, Samantha Russell, Chief Evangelist for Twenty Over Ten and FMG Suite shares statistics from 2021 Demographics and also goes over which social media platforms you should spend more time on.

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Which Social Media Platform Should You Prioritize?

Facebook
First, we're going to start with Facebook. So many financial advisors have told me that they get great response from Facebook, and that makes sense. That is where the majority of people who are 50 and older, pre retirees and retirees are hanging out. So it's a great platform if that is your target audience. And it's also a great platform to specifically use ads on. So if you're looking to go beyond just organic social media, but really start using ads, that is a platform that you want to use. It's also great if you're really honing in on a specific geographic area or community. So if you're not just targeting people throughout the entire country, but maybe a small town in Indiana, you can get really, really specific with your geographic range. And because a lot of people within Facebook are connected to other people within their local community, if you get people to engage with your posts, other people in the community who are connected to those commenters and people liking it will also see your content. So Facebook is great for pre retirees and retirees, for retargeting ads and for community based practices.

Twitter
Okay, Let's move on to Twitter now, completely on the opposite end of the spectrum. Almost no financial advisor I've spoken with has ever actually gotten a client from Twitter. But it is a fantastic place to be spending time if you're trying to connect with journalists with the media, to get quoted in CNBC or the Wall Street Journal, or to be asked to come speak at an event and talk to potential prospects. So in short, it is a great place to interact with the media with journalists and also to connect with peers. Right. To meet other financial advisors and to connect with them, learn from them and share stories. So I love Twitter for that reason.

Instagram
Okay. Moving on to Instagram. Instagram is demographic really skew to be younger and more female. Certainly there are people of all different ages, but that is really what to think about. Excuse to be more female and younger. It's also an incredibly visual platform. Right? So when you're posting content to Instagram, you're going to use photos or you're going to use what's called a story and create a short video. So if you're going to use Instagram, you really need to be focused on how are you going to create all of this visual content? We love a tool called Canva that's free for anyone to use, and it will really help you create powerful infographics. I have heard from some firms that are really focused on working with people between the ages of 30 and 45 who are having tremendous success on Instagram. And it is a great platform if that is the age group that you are trying to target. So keep that in mind there.

LinkedIn
All right. Let's move on to LinkedIn. If you are targeting people who are business owners, executives, middle managers, anyone really in their working years trying to work their way up in their career, LinkedIn is a great platform for you. The people who are on LinkedIn tend to have a much higher level of education and also a higher income level than some of the other platforms. So we see much more affluent people in their working years that are spending time on LinkedIn. It's also a great platform because people expect to see business related content. So that includes financial services related content. We're going there to advance our careers to learn things that are going to service in our careers. And that also includes things regarding our financial lives. So it just makes sense to have that financial services based content there on LinkedIn. One thing I will say for LinkedIn is many companies just have a company page on LinkedIn. Instead, you want to have your individual staff, your individual advisors be active under their own profiles, because that's how you're really going to get that engagement. People connect with other people, they're not going to be as likely to follow a business page.

#socialmedia #socialmediamarketing #wealthmanagement

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