Instagram has become a star in the world of social media marketing. Once used primarily as an image-sharing platform, the platform has made great strides toward becoming a valuable tool for businesses. But is it right for your business?
Instagram Vs. Facebook
There are reasons many producers might prefer a platform like Facebook over Instagram. Facebook is informational. People will come to your Facebook page to learn your business hours, phone number, address, website, etc. On your end, Facebook is a good place to share relevant links, post curated content, speak about your services and value, and share events.
Instagram is all about the imagery. As mentioned, Instagram essentially started out as an image-sharing platform. For many users, Instagram still serves the same purpose. However, businesses have found it to be a good way to build their brand and engage consumers. It just takes a little creativity.
What Should You Post?
The answer is simple – anything that represents your brand. Just make sure you keep it professional, tasteful, and non-controversial (social media standards for any business). Remember, you aren’t sharing links to articles or landing pages. Let your Instagram posts engage the audience and build brand awareness. Consider the following types of posts:
- “Meet the Team” posts that include a headshot of you/your staff with a bio
- Photos from seminars or client events
- Office photos (especially if you decorate for the holidays)
- Photos of you and/or staff involved in charity work or community events
- Pets (because everyone loves pet photos)
Video is a very powerful engagement tool on any social media platform. A brief (2 – 3 minute) explainer video of you discussing your services or a topic relevant to your audience is a good way to earn some extra attention.
Who Is on Instagram?
Many people working in the financial services space have been slow to utilize Instagram as a marketing tool. And for good reason. Most users are younger, and not typically the market you would target. But that is changing. A recent study published by Pew Research reveals some interesting stats about the platform’s demographic.
- 48% are ages 30 – 49
- 29% are ages 50 – 64
- 39% earn $50k – 74,999k per year
- 47% earn $75k+ per year
- 49% have a college degree
Looking at the first, fourth, and fifth bullet points, you can see that nearly half of all Instagram users fall under the “qualified prospects” category. Even a minor presence on the platform could be advantageous.
Advertising on Instagram
Instagram ads run through Facebook’s ad manager, making it easy to run an advertisement or sponsored post on both platforms simultaneously. All aspects of the ad creation process (goal, audience, duration, and budget) are the same for both platforms. You can also promote a post on Instagram without a Facebook ad account connection.
Instagram is a popular and valuable marketing tool for many businesses, but still somewhat uncharted territory for financial advisors. Have you explored this popular social media network yet? With a growing audience, it might be worth your time.
Find out how IAMS can boost your presence on social media and elsewhere by watching our “IAMS Creative Services Experience” webinar.
For even more details on how IAMS Creative Services can help market and grow your business, visit www.iamscreative.com.
