Have you tried different marketing strategies without getting a favorable outcome?
According to digital marketing experts, most Americans are exposed to between 4,000 and 10,000 ads on the internet daily.
If you’re like most financial advisors, paid advertising is somewhat of an afterthought for your business – something you’ve tried in the past or thought about trying but haven’t gotten serious about yet.
However, as a financial CEO, it’s essential to keep up with the latest trends in advertising and marketing to help your clients succeed in their businesses.
Google Ads and Facebook Ads are two of the most popular paid advertising services available today. However, they’re also two of the fastest-growing paid advertising services today, which means the competition will be intense—and the cost to reach your target market will be high.
(Source: Zima Media)
But if you want to get great results from your paid advertising campaigns, you need to work with both Google Ads and Facebook Ads in your paid advertising strategy. Here’s a complete guide showing how to use these financial advisor ads to get excellent PPC campaign results.
Take a look at what we have in store for you:
- What is PPC for financial advisors?
- Types of PPC Ads for financial advisors
- Why do financial advisors need Paid Ads?
- Strategies for Managing Your PPC for financial advisors’ campaigns
- Rules for creating Paid Ads
- Top Paid Advertising options
- How to build your online visibility on Google: Top strategies for financial advisors
- Differences between SEO and Google Ads
- Google Ads vs. Facebook ads: How to choose the best channel for your financial business
- Building a Hybrid Paid Ads campaign: Tips for success
- Best PPC automation tools for financial advisors
- Don’t hire a paid ads agency until you follow this 5-step checklist.
Let’s forge ahead.
What is PPC for Financial Advisors?
Moz reports that PPC traffic is 50% better than organic traffic in terms of conversion rate.
Pay-per-click advertising is an excellent way for you as a financial advisor to gain access to people who have demonstrated interest in your services. But it’s not quite as simple as it sounds.
PPC ads are usually defined as pay-per-click advertising. The idea is simple: You bid on specific keywords so that your ad appears at or near the top of search results. Then, when someone clicks your ad, you pay a small fee.
(Source: The Next Scoop)
In theory, you only pay for impressions (clicks) that result in sales, so paid advertising services are often called performance marketing.
With PPC ads, you aren’t charged if people click on your ad but then don’t purchase anything. And if someone does buy something after clicking your financial advisor PPC ad, it can be tracked with software like Google Analytics or Zoho Reports to measure its effectiveness.
Before spending money on financial advisor pay-per-click ads, learn how they work and the results you can expect from running PPC campaigns. Google, for instance, offers different features—and specialties—and knowing how they work will help you get good results with your paid advertising efforts.
The same goes for Facebook ads that work for financial advisors.
Though both tech giants offer PPC options, they’re not precisely identical; there are differences between them that affect your bottom line.
Types of PPC Ads for Financial Advisors
Selling financial services is a competitive business, and like any other business, it’s hard to get results without paying for advertising.
What types of PPC ads should I create for my clients?
PPC (pay per click) advertising is very effective because it allows you to target specific keywords and phrases.
There are three main categories of financial advisor ads that you can use in your campaign:
- Text ads
- Display ads
- Search network ads
- Video ads
Each type has its pros and cons, and choosing the correct ad type depends on your goals.
Text ads are the most basic form of paid advertising services. Recent reports reveal that texts are more prevalent across different platforms, with 49% of people preferring them to product listings and video ads. However, 55% of people who click on mainly Google search ads favor text ads over other forms of PPC ads.
(Source: 99 Firms)
They appear as small text snippets within search results or when users click on financial advertisements. The text ads are usually displayed below the organic search results and may appear above the organic listings.
The advantage of using text ads is that they’re easy to set up and manage. You only need to create one ad copy for all variations of your keywords.
However, text ads have some disadvantages too. For example, if you don’t optimize your landing page correctly, it will not rank well in search engines.
Display ads are similar to text ads, except they take up more space than text ads. In addition, they show up next to the organic search results instead of appearing below them.
Recent reports show that when customers are exposed to display ads, they have a 155% chance of searching for more brand-specific terms.
Hence, display ads are banner ads that appear on web pages all over the internet based on what keyword was searched for or what website was visited by potential customers.
Advertising on display means showing ads on websites that don’t belong to Google or Facebook. You can choose which websites display your financial services ads based on topics related to what you offer.
The financial advisor can also choose how much they want to pay per click, called a bid price. The higher your bid price, the more likely your financial advisor ads will be displayed in search results when someone searches for something related to your business.
Advertisers often use display ads to promote products and services. It’s important to note that display ads are much more expensive than text ads. Display ads are generally used for financial advisor branding purposes, requiring high-quality images and videos.
This ad is the best option if you want to attract potential customers through financial advisor branding.
Search Network Ads
Search network ads are similar to display network advertising, except they only appear in SERPs (search engine results pages) rather than on websites.
If someone searches for credit repair using Google, they’ll see your financial advisor ads at or near the top of their SERP listings because of your high bid price—but only when they click on sponsored links after seeing your PPC ad in their list of results.
When advertising on search, you’re bidding on keywords that people type into a search engine (Google, Yahoo!, Bing). Then, the financial advisor ads are shown when someone searches for those keywords. So if your target audience is searching for “Financial Advisor in Orange County,” then your financial advisor ad will show up at or near the top of their results.
And because searchers are actively looking for what you offer, they’re more likely to click on your ad than if they just happened upon it while browsing Twitter.
With search, you can also set different bids for different geographic locations. So, for example, you might pay less per click in New York City than in Des Moines because traffic tends to be higher.
Video ads are becoming increasingly popular, allowing you to add a short clip to your website or blog. When someone clicks on your video ad, they will be redirected to your site, where they can watch the full video. They offer many benefits, including high conversion rates.
People tend to spend more time watching videos than reading articles. In a survey by Wyzowl from December 2021, 88 percent of respondents affirmed that watching a video ad has convinced them to buy a product or service.
So, if you want to get higher conversions, then video ads are a good choice.
The low cost of creating video ads is another reason it should appeal to financial advisors. Video ads are cheaper than other forms of online advertising, such as social media marketing for financial advisors and SEO.
They are also pretty easy to set up. Unlike text ads, video ads can be created easily by anyone. All you need is a computer, webcam, and a microphone.
According to research studies, people prefer watching videos over reading articles. Therefore, if you want to engage your visitors, you should use video ads. Since video ads are interactive, they can target specific audiences based on demographics, interests, and behaviors.
Why Do Financial Advisors Need Paid Ads?
Paid ads are becoming an essential part of digital marketing, with 75% (three-fourths) of people in a Clutch survey affirming that they find things easier with paid search ads.
(Source: Blue Corona)
Simply put, search engines like Google get bombarded with traffic every day, making it more and more difficult for companies to have their content shown at a high ranking on search results pages.
Hence, there is a massive opportunity for financial advisors who want to attract new clients through paid ads. That’s because paid advertising service allows them to show up in search engine results alongside companies that have spent millions on traditional forms of advertising.
(Source: Merc Digital)
Here are 5 benefits of paid advertising for financial advisors:
1. Paid Ads Help You Stand Out from Your Competition:
Paid ads allow you to stand out from your competition by targeting only those people who are actively looking for help with their finances. Setting you apart from your competitors is one of the best benefits of paid advertising for any financial advisor.
Suppose you can show up when someone is searching for an investment advisor or financial consultant. In that case, you have a much better chance of converting them into clients than if they see your ad while they’re searching for something completely unrelated (like how to change my oil).
2. Paid Ads are Highly Targeted:
When you use paid ads, you can target specific groups of people based on their location, interests, age range, and even gender. These highly targeted campaigns will give you a great return on investment because you won’t be wasting money showing your ads to people who aren’t interested in what you have to offer.
3. Paid Ads Show Up Before Organic Results:
Paid ads appear above organic results, which means that your firm has a higher chance of being seen by potential customers.
4. Paid Ads are Easy to Set Up:
It doesn’t take long to set up financial services ads, especially if you know what keywords and phrases best attract leads and clients. Paid ads also don’t require any special skills or technical knowledge, so any financial advisor should be able to manage their campaign without having to rely on outside help.
5. Paid Ads Can Get Results Quickly:
Because financial services ads are easy to set up and manage, you can start getting accurate results within just a few days of launching your campaign. Hence, a paid advertising service is an ideal option for busy professionals who don’t have time to wait around for months until they start seeing actual returns on their investments.
Having seen the primary benefits of paid advertising, let’s consider the strategies for managing your campaigns.