Google Ads for Financial Advisors: How To Build a Comprehensive Strategy

Google Ads for Financial Advisors_ How To Build a Comprehensive Strategy
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Written by Robb Fahrion

Robb Fahrion is a Co-Founder and Partner of Flying V Group. Robb has helped over 350+ companies build their businesses online and is responsible for building Flying V Group into one of the premier marketing agencies in the United States. Robb and his team have managed over $10M in marketing budget and continue to accelerate the growth of clients' businesses. A love for business and competition is what fuels Robb to create dynamic marketing plans to help his clients grow exponentially.

April 29, 2022

Google Ads for Financial Advisors: How To Build a Comprehensive Strategy

Reading Time: 10 minutes

Are you afraid of investing your ad budgets for 2022 into paid advertising?

In the third quarter of 2021, Google reported a 43 percent growth in overall ad revenue, with revenue predicted to surpass $460 billion by 2024. Meanwhile, in the fourth quarter of 2021, advertisers spent $62.1 billion on Google Ads.

Financial advisors are increasingly using Google Ads to attract their target audience. These financial advisor ads can help you target more customers to your website by reaching local internet users looking for your products or services.

So if you are looking for new local business leads, Google Ads for financial advisors have become a very efficient way to advertise. However, Google Ads management is complicated, and getting the most out of the platform necessitates skill, experience, and a significant amount of time.

Our focus in this article is to point you towards Google Ads PPC strategies that have proven effective in increasing conversion rates and boosting ROI.

We’ll dive deeper after this outline:

  • An introduction to search advertising for financial advisors
  • Steps to building an effective Google Ad Campaign
  • How to measure and optimize your Google ads
  • Google Ads regulations every Financial advisor should beware of
  • Should you hire a Google Ads PPC Agency? 

Let’s begin.

An Introduction to Search Advertising for Financial Advisors

Google Ads is a pay-per-click advertising platform that allows you to reach target markets for financial advisors when they search for your products or services. So, as one of the most popular search engines globally, 63 percent of people will most likely click on a  Google search ad than on other sites’ ads.

M3-3-How-many-people-click-on-paid-search-ads-most.png

(Source: Clutch)

The Google Ads interface is easy to use and gives you access to various powerful features and tools that make it possible to tailor your financial advisor ads to suit your specific needs.

According to Google, search ads can increase your brand awareness by 80 percent.

The way people search has changed, so in 2022, financial advisors will need to change their approach as well. They need to build on their knowledge of customer behavior, demographics, and industry trends to create an effective Google Ads for financial advisors strategy.

Steps to Building an Effective Google Ad Campaign

Google Ads management can be a great way to reach target markets for financial advisors and generate leads. First, however, it is essential to know how Google Ads for financial advisors works to get the most out of your campaign.

Although Google Ads are a great way to advertise your business, they can be tricky to set up. Here are 7 steps to build an effective Google Ad campaign for financial advisors in 2022.

  • Determine your goals
  • Create a Google Ads account
  • Find the best keywords
  • Set up a bidding strategy
  • Create ads on the right platform
  • Optimize your ads for conversions and clicks
  • Monitor and optimize

Let’s look at each of these 7 steps in detail.

1) Determine Your Goals

As a financial advisor, you want to reach target markets for financial advisors who are most likely to be interested in planning their finances.

2) Create a Google Ads Account

If you’ve never used Google Ads before, it’s best to start by creating an account, as this will allow you to manage your financial advisor ads and make changes quickly. 

3) Find the Best Keywords

Keyword search tools like Google Ads Keyword Tool allow you to get the most relevant keywords based on your niche.

4) Set up a Bidding Strategy

An effective bidding strategy Google Ads accepts will get you the audience you are most likely to convert.

Target your ads based on the budget you allotted for them and what you want from them. Then create a bid that matches where your ad will show up to generate a good return on investment.

5) Create an Ad

You can create an ad by setting a specific budget and uploading an image, making your message more personal. 

6) Set up Your First Campaign

Once you have set up your Google Ads management account, create a campaign to start advertising for your business.

7) Monitor and Track Results

After you’ve launched, you’ll need to track your results. We recommend using Google Analytics to track the conversion rates from your ads. In addition, Google Analytics will give you an idea of which KPIs are essential for your financial brand.

M3-3-Role-of-Google-Analytics.png

(Source: Business2Community)

You can also use Optimizely to see if your ads have improved over time.

How to Measure and Optimize your Google Ads

It’s not easy to be a successful financial advisor in the 21st century. That’s why it’s crucial to have a plan in place to measure and optimize your Google financial advisor ads campaigns, whether you’re using them to attract new clients or sell additional products and services to existing ones. 

Fortunately, there are several key aspects of measuring and optimizing your Google Ads for financial advisors, so let’s look at them individually.

Account Structure

Before optimizing your Google ads, you’ll need to set up your Google Ads account correctly. Create a Google My Business page for your business, set it as Verified, and add any additional relevant details like store hours or contact information. 

It’s also helpful to add a high-quality photo of your storefront or building as well—this will help increase click-through rates for local businesses that are advertising in their area. 

Finally, make sure you have all of your Google Analytics tracking codes installed on your website before getting started with Google Ads for financial advisors. Otherwise, you won’t be able to see how much traffic is coming from each ad campaign.

Define Bidding Strategies for Keywords

You can use several different bidding strategies for keywords in Google ads. Moreover, you must first define which bidding strategy Google Ads will consider best for optimizing a given keyword. 

The primary benefit of using Google’s ad platform is that it gives you access to real-time data from a massive volume of searches. It also allows you (especially if you have a larger budget) to refine your campaign as often as necessary. 

Google Ads has three main bidding strategies: Manual CPC, automatic CPC, and manual CPM. Each has its advantages and disadvantages depending on your business goals and financial situation.

M3-3-Smart-Bidding-Strategy.png

(Source: Adtuo)

Focus on Quality Scores

Quality Score is an Ads performance metric measured on a scale of 1–10.