Using Paid Ads to Find New Prospects

There are a variety of ways paid ads can help financial advisors attract new clients.

Increased visibility: Paid ads can help increase the visibility of financial advisors and their services, especially in a crowded marketplace where it can be difficult to stand out.

Targeted audience: Paid ads allow financial advisors to target specific demographics, such as age, location, and interests, which can help them reach potential clients who are more likely to be interested in their services.

Measurable results: Paid advertising provides measurable results, allowing financial advisors to track their return on investment and adjust their strategy accordingly. This helps them to make informed decisions about how to allocate their marketing budget.

Cost-effective: Paid advertising can be a cost-effective way to reach a large number of people. Financial advisors can set a budget for their advertising campaigns and control their costs by adjusting the budget as needed.

Brand building: Paid ads can help financial advisors build their brand and establish their expertise in the market. This can help them to differentiate themselves from competitors and build trust with potential clients.

Overall, using paid ads can be an effective way for financial advisors to reach new clients and grow their business. However, it is easier said than done.

We have been using paid ads since 2017. At the time of writing this in early 2023, we haven’t found a cost effective way to run ads and have them schedule a meeting directly with us. That doesn’t mean it’s not possible. Our office is in southern California and our costs are much higher here than other parts of the country. We tested ads in other states, and they were 60-70% cheaper per lead than in our community.

With that said, here is what works for us:

1. We run ads to a very targeted audience.
2. We offer a free download to help that specific audience solve a problem.
3. We collect their email and use email campaigns to continue engagement.
4. After they receive the free download, our next offer email is a webinar. We use the webinar to schedule the meeting with us. Our webinar process gets 50 to 70% of those watching the webinar to schedule a meeting.

Although this is what works for us, it may not work where you are. Depending on  your community, the process from ad to appointment may be shortened or lengthened.

And if you decide to test paid ads, do not expect immediate return. It takes time and a lot of money to optimize your campaign and get them converting.