Everything in life compounds - a good social media presence is no different

This was the reason why, three years ago, I started sharing financial educational content on Instagram and Facebook. 

The more people that know what you do, the more clients I will attract, the more successful I will be as a financial adviser. 

This was my thought process, and there is no better tool for doing this now than social media.

The hardest thing is starting. The second hardest thing is consistency. After that, like investing, just be patient and wait for the benefits to compound.

I only have a modest following in the grand scheme of things (about 1,500 followers on Instagram) but that is more than enough to make the effort worthwhile. Think about it: that’s 1,500 people for whom I’m likely to be their go-to financial adviser. Not only this, I’m also likely to be the person they refer when someone asks the question: “Do you know a good financial adviser?”

This is probably the biggest benefit I didn’t appreciate; getting referrals from people who aren’t even clients! Just because they value the content I post online.

Keep it up and you then get additional awareness benefits too. Like appearing on podcasts or writing articles in the FTAdviser.

It’s all evidence of the compounding benefits of doing something consistently paying off and I feel I have only just started on this journey.

Before you start, you will need to decide your social media platform of choice. And I’d suggest focussing on just one to begin with. 

I chose Instagram. It was the preferred choice for me based on the audience I want to attract (millennials), the type of content I wanted to produce (short form pictures and videos) and the one I was most familiar with (I understood the functionality and audience better).

I’d suggest the priority is defining your audience first. Who are your ideal customers? Not only will this help you with what platform to choose but also with content ideas – more on that later.

Once you’re established on one platform, then look to repurpose it on another. Posting similar content across two or three platforms simultaneously to boost your reach. I now do this across LinkedIn and Facebook.

Now you need to create the content and, as with anything in life, you will be rubbish to begin with.

Your first Canva design will probably look amateur and your first video very robotic (I cringe every time I watch mine!) You just need to accept that to get better at something you need to keep doing it. It gets easier and I am still learning and improving.

Once over the first hurdle of putting your first posts out there for the world to see, your next challenge will quickly become content ideas. Thinking of enough interesting topics to post three, four, maybe five times a week. It is stressful and can instantly make your mind go blank!

Thankfully though, financial advice is a broad topic with changes and topical news daily. It still doesn’t make it easy though. This is why I would suggest you have a good note taking system (or app) to record your ideas when they drop into your head at any moment – usually just before bed for me.

Again, think about your audience. What are their interests? What stage are they on their wealth journey? What are their worries? Tailor your content accordingly. For example a big part of my audience are families so discussing the rules around child benefit worked very well, even if considered a dry topic by some.

Consume more content too. Books, blogs, YouTube, podcasts…whatever suits you. The more content you expose yourself to, the better ideas you will have. Oh, and guess what? You will learn more too! Making you a better, more knowledgeable adviser in the process.

Your final challenge will be finding the time. Whether it's scripting, recording and editing videos; writing longer form posts for LinkedIn or designing pictures for Instagram – it takes time. 

Yes, it can be outsourced, but I believe this is difficult without losing a bit of the expertise or personality that are both crucial. I find the best approach is to block out time in your diary to focus on this work each week and use scheduling tools, so you don’t have to worry about forgetting to post!

Finally, stay true to you and your personality. There is no point trying to be someone you’re not. This is one of the mistakes I made to begin with. Trying to copy the latest video trends, memes or audio clips just because it had worked for others. Yes, push yourself to be creative and try new things but not at the expense of losing your authenticity or key message – even if this does mean less likes from people you don’t care about!

If you’re thinking about joining the growing number of advisers using social media my other top tips would be:

Use a personal profile over a company profile. People connect more with people.

Don’t worry about having loads of followers. As long as it is growing steadily that’s fine – remember personal finance isn’t a sexy, eyeball grabbing topic so you’re unlikely to go viral!

Commit to it for at least one year. Don’t expect to be an overnight success, it takes time. I’ve seen so many advisers and content makers come and go. Try not to be one of them.

Don’t be afraid to share personal content. It doesn’t need to be all personal finance. Showing people you’re a human being with family, friends and interests makes you more relatable and approachable.

You don’t need all the gear or a fantastic idea. Thinking you need the latest 6k camera or a unique social media strategy is just not true and probably you just procrastinating. 

Make sure you're compliant. Sorry to be all FCA about this, but make sure you have a compliant process in place for your social media marketing. And if you’re working for someone else make sure you get your social media plans approved by them first.

Gone are the days when people found a financial adviser in the Yellow Pages and even Google will become old school soon. The next generation of clients will likely have one or two advisers they follow on their chosen social media app and they will be who they turn to when they are in need of advice. 

It is therefore only going to become more vital for advisers to have a presence on social media, otherwise they could get left behind.

Starting my social media profile, ‘Nice Guy Money’, has already achieved what it set out to do: more people now know what I do. More than this though, it was one of the key drivers to me starting my own financial planning business Gratitude Financial Planning; giving me the platform and the confidence to do my own thing.

All things in life compound. Social media content is no different.

Freddie Winter is a chartered financial planner at Gratitude Financial Planning