News article

Sound social advertising in the time of Covid-19: What you need to know

As Louis mentioned last week, around two-thirds of the UK population used Facebook in March. As might be expected, lockdown has us relying on technology – particularly social media – more than ever before.

Maintaining the organic updates you’d normally share on your social media platforms is important; whether you look to entertain or instil a sense of confidence, your followers (and your clients) will likely appreciate your ‘business as usual’ approach.

But what about ads?

Understandably, this is a difficult and uncertain time for many businesses. The initial temptation could be to press pause on any existing advertising or put off a brilliant new idea you had hoped to launch this month.

Whilst being mindful of budget and tactful in your approach is of course, essential, there may have never been a better time for financial advisers and planners to reach new people on social media.

There are currently people browsing social media who are normally busy in a bustling office; instead, they find themselves trading the 11am coffee run for a scroll through social media at their desk at home.

Your audience is there; they’re ready and waiting to be entertained and informed. But if that isn’t encouragement enough…

Times are hard for the big advertising industries

Many of the industries who dominate social media advertising – namely, travel and retail – are “set to take a massive hit from the crisis, and are therefore likely to slash advertising.” Analyst Laura Needham shared her thoughts on March 25th, stating “Added engagement (time spent viewing) will be offset by a sharp advertising demand downdraft from large categories of digital advertising.”

The big industries are likely to tone things down, for a multitude of reasons; whilst people will undoubtedly spend more time online, they’re unlikely to be booking holidays or buying clothes in times of crisis.

Less competition + more punters = the perfect time to let people know how you can help.

Where does financial planning fit?

Whilst people may be spending less time on ASOS and Expedia, they are undoubtedly seeking reassurance.

Financial advisers and planners have so much to offer at this time.

People will be uncertain about their future, their career, and their retirement; will they still be able to achieve their goals? You could be providing them with clarity for the future.

Some may be worried about children or grandchildren losing their jobs. They may be considering Equity release; you could help them make the right decisions with their money.

What to avoid

There’s nothing to really be worried about when it comes to creating sound, approval-ready ads for financial advisers and planners.

Facebook has understandably banned exploitative advertising around sales of face masks, coronavirus test kits and hand sanitiser, and will reject ads that include misinformation, but it is certainly not forbidden to mention the current climate in your ad language.

The right approach to take

Our advice is, quite simply, to be tactful.

  • Be human – how can you help those who are worried, suffering, or uncertain about the future?
  • Avoid instilling panic or worry – else face the wrath of the comments section!
  • Offer something – a guide or article – that addresses their current concerns.
  • Be informative – now is not the time to be vague or passive. Let people know what you can do to help and how they can reach you.
  • Run a new type of ad – a message ad, for example, encourages individuals to drop a casual message to your business profile’s inbox. It’s informal and personable but can be the perfect catalyst for meaningful conversations and new business.

What next?

Whether you have ads running with us (or anyone else) and want to make changes, or you’re looking to start something new, please get in touch. We’ll help you to pitch things right and make the most of this unique online opportunity.

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