Google Ads is often overlooked by IFAs. There seems to be a tendency for financial advisers and IFAs to lean more towards Facebook Ads when it comes to lead generation.
However, it may be time you considered looking at Google Ads in order to improve your return on investment.
Of course, there are many reasons why Facebook Ads should be a part of your well-rounded marketing strategy, but Google Ads should definitely be in the mix too in order for you to gain warmer prospects and better leads as a financial adviser.
You may be thinking to yourself: I have heard of both Google Ads and Facebook Ads, but what exactly is the difference?
Let’s start by breaking it down to show how Google Ads can be a game changer to you as an IFA.
Facebook Ads, along with many other forms of digital marketing, is a type of outbound marketing.
Facebook Ads can be thought of a little bit like a radio advert. You submit your advert to the radio station and it may be played a number of times during the day. Great! This means it is reaching loads of listeners in a potentially large area.
However, how many of those listeners are going to be looking to work with an IFA at that precise moment in time? How many are actively listening to the advert and digesting the information properly in order to take action?
This number is likely to be very small.
And this is the issue with outbound marketing methods such as Facebook Ads. You are pushing your message out to huge numbers of people, but it’s a stab in the dark actually finding somebody within that audience who is looking for your exact service at that exact moment in time.
Although Facebook Ads does offer some control over your target audience, the adverts you place are still being viewed by that audience whilst they are in the middle of something else – looking at photos of a recent birthday party or watching cat videos for example. They will not be giving your adverts their full attention, and they are probably even less likely to take any action on them.
So, let’s now take a look at Google Ads, which is a form of inbound marketing.
Much more subtle in its approach, inbound marketing allows you to lurk quietly in the background, waiting to pounce at just the right time when your audience indicates an interest in your services. At this point, you can have your perfectly formed message pop up - in the form of an ad at the top of Google - to catch their eye at the time when it's most likely to achieve results.
With careful planning, and some research into the most effective keywords, your advertising message will appear only to people who have expressed an interest in your financial advice services and are looking for your expertise.
So Google Ads is about enabling your audience to come to you rather than you constantly trying to find them. Perfect!
Hopefully you can now see the advantages of using Google Ads to generate more meaningful leads for your IFA business. Let’s take a look at a few tips to help you set up Google Ads correctly and get ahead of your competition.
You need to be aware that your advert is going to appear alongside a number of other IFA's adverts - as many as six in fact. So, it’s super important to make sure that your advert has the wow factor to encourage your audience to select your ad rather than any of the others.
Creating something eye-catching with a difference will greatly increase the odds that the person searching on Google will notice your message and be keen to find out more.
Make sure that in your ad you point out differences between you and your competitors, highlight your unique offering, and explain how you can add value as an IFA.
Try experimenting with different adverts for each ad group. Tweaking small things here and there can make a huge difference in how much traffic comes through to your website.
Rather than just pushing out ads to anyone and everyone who is looking for an IFA, you should really try to get super specific.
Just targeting everybody who's looking for financial advice means you will have a lot of other IFAs to compete with. Targeting a particular niche will will be much more fruitful.
When it comes to choosing keywords, think along the lines of “financial adviser for doctors”, or “IFA for pensions”. The cost per click for these terms is probably much less than a generic term like “financial adviser”.
It tends to be that the more granular the search term, the more likely you are to drive quality traffic through to your site.
So do spend some time thinking about what niche(s) you want to focus on.
As with any business outlay, you need to think carefully about your budget and the limits you want to set in order to make your campaign cost effective.
Every business will have a different budget, and it’s important not to get caught up in bidding against your competition for keywords that are out of your reach.
As mentioned in tip number 2, there are lots of more targeted keywords out there that won’t break the bank and, in fact, can generate much more positive leads than you'll get from the more expensive general keywords.
You may think it’s great being perched at the top of the Google results page, but that’s no good at all if it’s costing you too much for each new client that you gain.
Google Ads allows you to set a keyword match type for each keyword that you bid on. This is a big deal when it comes to getting your targeting right and showing your ads to the correct people.
Pay good attention to your match types, as matching incorrectly will lead to your ads potentially popping up in front of the wrong type of audience. And if that happens, you'll be wasting time, money and, more importantly, lowering your chances of landing those all-important quality leads.
As mentioned earlier, the use of Google Ads is a great way to catch those who have expressed an interest in your IFA services. A high number of your audience will be ready to take action and contact you for a consultation.
However, there will also be those who may still be unsure and need a little extra persuasion. This is where a lead magnet comes in.
Lead magnets can come in several forms - most commonly a downloadable guide containing some really useful information or tips. You offer your lead magnet to your audience in return for their email address. This gives you the ability to follow up with them, rather than them just leaving your website and you having no chance of contact.
Lead magnets create trust and are a really good way of proving to your audience that you are an expert in your field and they should get in contact with you and take some action.
In order to achieve optimal performance, it is really important that you get into the habit of setting time aside to review and adjust your Google Ads campaigns. Just doing an initial set up and then forgetting about your bids and keywords will be sure to lead to a decrease in results over time.
You need to remain one step ahead of the game, so take the time to regularly review and adjust your ad content, research up and coming keywords, and be sure to blow your competitors out of the water with your optimisation.
You should direct traffic from your Google Ads campaigns to a variety of landing pages, which will be relevant to whichever keyword the person triggered with their Google search.
Creating different pages for different keywords means that you can direct each visitor to a page based on the exact thing that they searched for. This will promote trust amongst your audience and will really make them feel as though you understand their exact needs. They will then be much more likely to feel comfortable making contact with you.
Conversions are what it's all about at the end of the day. A conversion is when a visitor to your website actually turns into a lead.
Making some simple additions or changes to your landing pages can have a huge impact on this important factor.
Be sure to:
Whether you use Facebook Ads as a key part of your online marketing, or whether just for this purpose, the retargeting facility within Facebook Ads is super useful.
When using Google Ads to push traffic through to your website, you can add the Facebook pixel to your site to enable the creation of an audience list in Facebook. Visitors to your site are added to the Facebook audience list even if they do not submit an enquiry.
The beauty of all of this is that those in your Facebook audience list can then have your adverts pushed out to them within Facebook. The idea of this is that they will then reconsider getting in contact with you, or be reminded of why they went looking for your services in the first place.
Google also offers the option of running retargeting adverts (except that they call it remarketing instead of retargeting).
In the case of Google remarketing, the ads can contain video, images or text, and can appear all over the internet, rather than only on Facebook.
By pushing these ads out all over the web, Google increases the chances that potential clients will return to websites such as yours that they have looked at before. And if they didn’t make contact during their initial visit, they may very well do so on a second or third visit.
Sometimes we all need a second chance, so why not set up remarketing in your Google Ads account and try for that conversion next time around?
Have you tried using Google Ads to generate leads for your IFA firm? How did it go?
Please use the comments box below to let us know.
You can also submit any questions you’ve got about the best ways for financial advisers to use Google Ads.
As a digital marketing consultant, author and trainer, I specialise in helping businesses in the financial services sector use the internet to get more enquiries and increase profits.
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