How advisors drive growth with their social media strategy

Key takeaways

• Young investors are seeking financial advice through social media channels, creating an opportunity to showcase your expertise and build relationships with the next generation of clients.
• Optimize your social media presence around your chosen platform, a specific cadence and specialized content to build engagement with potential clients.
• Build relationships with young investors by communicating in a way that makes them feel comfortable and trust you.

Social media is a critical marketing strategy for the future of your business

For more than a decade, advisors used social media to engage clients at scale, generate leads, build brand visibility and network with other financial professionals. Now, as aging clients transition their wealth to younger family members, having a social media presence is critical for advisor growth.

Among Americans who seek financial advice, 29% use social media to source it,¹ but among younger investors (Gen Z and Millennials), that number soars to 79%,² creating a vast opportunity for you to showcase your expertise and connect with the next generation of clients.

Moreover, clients expect to see their advisors on social media. Across generations, roughly half of mass affluent and high-net-worth investors say they are more likely to engage with an advisor who has an active social media presence.³ Young investors have even stronger expectations: 23% of Gen Z adults say they wouldn’t even consider a financial professional who didn’t have a social media presence.⁴

Capturing the attention of your target audience and building rapport can be easy to do when you show up where they are. If using social media isn’t in your wheelhouse, consider having a junior advisor manage your social media accounts or hiring a third-party financial marketing and communications firm to execute on your behalf.

How to optimize your social media strategy

Boost the growth of your business by optimizing your social media strategy around three pillars: platform, cadence and content.

1. Pick the right platform

Concentrate your efforts on one or two platforms where you can connect with your target audience in a way that suits your communication style. Start by asking your best clients which social media platforms they prefer. Include some young clients in this group or ask the adult children of your best clients.

Next, consider which format you prefer for engaging with your followers.

• LinkedIn is used for information-sharing and networking through a professional lens.
• Facebook allows followers to get to know you in a more casual and personable way.
• X (formerly Twitter) is ideal for posting short and snappy real-time updates, known as “microblogs.”
• YouTube is an effective platform for educational videos.
• Instagram is suitable for sharing personal anecdotes through photos and short videos.
• TikTok is ideal for short videos (under 90 seconds) of educational tips, myth-busters or market insights.

There is no one ‘best’ social media platform for advisors, although LinkedIn and Facebook garner the largest amount of advisor marketing dollars.

Advisors spend more marketing dollars on LinkedIn and Facebook
% of advisors spending by platform

2. Commit to a cadence

Consistency is key to building a following on social media. User expectations vary by platform.

• YouTube: one high-quality video per week
• LinkedIn and Facebook: several posts over the course of a week
• TikTok: one to three clips per week
• Instagram: one post per day
• X: multiple microblogs per day.

The visibility of your profile is driven by your ‘activity’ on a given platform, which includes your posts as well as your reactions to other influencers (likes, comments and shares). Advisors who successfully gain clients using social media are active on their platforms an average of 35 times per month.⁵ Need to level up your activity? Each time you post, also take a moment to react to posts from three other contributors, but be selective. Only react to content that aligns with your philosophy and the clients you serve.

3. Captivate with your content

Spark meaningful conversations by posting about topics that interest your clients and prospects. For inspiration, recall some recent interactions with your best clients. What have they asked you lately? The topics that are top-of-mind for them can attract similarly minded clients and prospects.

Create some variation by posting content that serves different purposes:

• Connect – Humanize your business and encourage personal interaction. Share news about your team, showcase your volunteer work, reflect on recent local events or headlines, take a poll, or share blog posts. When you talk about your business, make it personal and aligned with your unique story. Share success stories that illustrate how you help clients achieve their goals or avoid costly mistakes. 
• Invite – Offer clients the opportunity to attend webinars or in-person events. Invite prospective clients to meet with you for a free consultation.
• Educate – Focus on concerns that are relevant for clients today. These topics might be seasonal, such as capital gains tax, or lifecycle-driven, like saving for college or estate planning. Consider creating videos as they are a particularly effective format for informative, educational and ‘how to’ content.

How to build trust with young investors on social media

Young investors are cautious about whom and what to trust online. They want you to provide clear explanations and discuss financial topics that are relevant for their stage of life. Be consultative, transparent and authentic, not salesy.

Focus on what drives trust for young investors
How Gen Z investors decide whom and what to trust online

Your social media strategy is an investment in the future growth of your business

Being intentional about your choice of platform, cadence and content will help you stand out from other advisors. Start building authentic connections with the next generation of clients today to position your business for future growth.

BlackRock can help you grow your business with an effective social marketing strategy. Learn more about the BlackRock Business Consulting team or use our online resources that can show you how to choose the right platform and create impactful posts.