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Should you Advertise Your Financial Planning Business on Facebook?

Financial Planning Business

How to Optimise and Scale Your FP Business with the New Facebook Targeting Changes

If you advertise your financial services business on Facebook or have ever thought about using Facebook to advertise, there are some changes you should be aware of. 

Why Should I Advertise on Facebook?

Many financial planning businesses are hesitant to spend advertising money on Facebook or other social media platforms for fear of no ROI.

But the truth is, Facebook can be an incredibly important tool not only to generate leads but also to promote brand awareness of your business. 

Not all your social media ads will result in a lead, but you may just make an impression on someone who could be looking for financial advice in 3 years. If this person is seeking a financial planner and they recognise your business name or brand, they are far more likely to engage your services over a competitor with whom they have no brand recognition.

Marketing for financial planning businesses is a long-term game.

More importantly, you need to match your advertising platform with your client. If your clients are in their 20s-30s, you may choose a different platform. While Facebook used to be a young person’s platform, it is turning into a platform for those aged 50+.

Luckily for financial planners, many of their clients are looking for retirement planning services and fall into this age bracket which makes advertising on Facebook a simple, cost-effective way to reach your audience. 

Are you curious about the effect recent advertising targeting changes by Facebook will have on your marketing campaigns? Do you want to be sure your campaigns will have the ability to adapt to these changes?

In this article, you’ll discover what Meta’s announced audience targeting changes mean for businesses using Facebook and find out which nine alternative options to consider in your strategy.

What Facebook Advertising Features Have Changed? 

Facebook’s announced changes to their audience targeting options include the ability to target your ads to the following people:

  • People who have or have not shown interest in your business or product
  • People who have or have not engaged with your business or product
  • People who have not engaged with your business or product
  • People who have previously visited your website
  • People who are not your fans, also known as Custom Audiences

Facebook also announced they would no longer target ads to:

  • Lookalike audiences created from Custom Audiences
  • Page or domain that has been Liked
  • Lookalike audiences created from Page or domain Likes

The new targeting options will be available to advertisers in all countries, except those targeting features that target age, gender, and location (e.g. men who live in Australia).

Making the New Facebook Targeting Changes Work for You and Your Business

As one of the biggest companies in the world, Facebook will always be changing the way they advertise to people with new and improved options.

Change doesn’t have to be bad. Invest in the right type of marketing, and you will be better prepared to deal with changes that might affect your FP business. 

Time to Outsource to the Marketing Experts?

At MBS, we help financial services businesses grow and succeed through industry-leading, evidence-based digital marketing in Australia. 

We blend high-value content, website optimisation and social media to move you from best-kept secret to sought-after advice pro. If you don’t have a system or a plan to grow online, you are missing out on incredible opportunities that are out there. We are proud to say that we have helped businesses with our proven marketing solutions.  

If you need social media marketing services for financial advisers, we’ve got you covered! Get in touch with us today and let us know how we can help!

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