What if I told you I was at a conference in Florida where a financial planner on stage told a group of older financial service professionals in the audience that she is getting a whole lotta clients from Instagram? Would that shock you? Would you think she made it up?
1. Instagram - It's not about lunches anymore
For many folks, when you hear "Instagram" you think about pictures. It's true - the app is built for aesthetics. However, what you may not realize is the purchasing power of Instagram.
Hootsuite reported in 2019, 11% of U.S. social media users will shop on Instagram. That might not seem like a big percent until you realize that Instagram will reach 112.5 million users in 2020 of which 63% will check in on the platform at least once per day. That is purchasing power.
2. How do I access Instagram's purchasing power?
In the past few years, Instagram has been working to make purchases easier for consumers. You might not think that has anything to do with your business in financial services, but hear me out.
What if you had a fee-only practice such as Angela Moore, CFP® of Modern Money Advisor does on Instagram and you took the time to segment out your marketing and checklists and made your fee-only work available for purchase directly from the app? Hmm. (You should totally follow her.)
What if you learned how to segment your marketing toward those individuals who are you ideal clients? Instagram is owned by Facebook and has some of the most powerful insight reports and advertising packages in social media today.
3. What is the learning curve for something like this?
The 800 lb. gorilla in the room is asking yourself if this is someplace you see yourself doing business? If you don't, you will limit your ability to be successful here. Trust me - the only reason you would not be successful is holding yourself back from trying to do well. The numbers are in your favor - as well as some kickass marketing prowess which I hope you'll seek out third-party assistance with overall.
PERSON OF ACTION: Instagram is and will continue to be a place where real business in financial services can be made. However, some time spent by you to learn how to use the space well, how the platform works, and how others are gaining a return is very helpful in your being successful here.