Benchmarks

Is the number of views and engagements you have good?

How do you measure success when it comes to your digital presence? You may be checking your likes, followers, and views, but how do you know if your numbers are on track to reach your business growth goals? If you want to know the difference between “good” and “good enough,” tag along as we deep dive into the data and talk about the benchmarks you need to hit in order to get where you want to go.

I can even say, in my experience doing social media for advisors is that unless you're putting money behind your content, it just doesn't get seen.

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Read the DISCUSSION

Advisor Benchmarks AUM Intro

[Kalli]

Hi, and Welcome to our first stream of ASK US MARKETING. I'm Kalli with Kalli Collective, and I've got Allen Masri with me. He is an account executive, and today we're going to be talking about benchmarks.

What I mean by benchmarks is what are the average numbers on the different social media platforms um Allen spent about a month digging up all the numbers, so I've got him here to answer questions with me; so if you come across questions that you've got, please show them or please type them in the chat, and we will get them and answer them.

Let's go ahead and pull up our benchmark PDF, which is available on our website.

The first thing that I want to go over is that we've got several different platforms on here, YouTube, Facebook, LinkedIn, Twitter, Instagram, your website, and email. The thing that stood out to me is that the engagement rate is so low on so many of these platforms. Allen, as you were pulling these numbers, did anything stick out to you?

[Allen]

Pretty much exactly what you said in regards to how low some numbers are. It really sets this expectation that we have with social media that it's really beneficial for your business because so many eyes get to see you, but unless you're fully utilizing certain methods and trying to figure out what your Niche is, it would be pretty difficult to be seen in front of so many people.

General Averages for Advisors

[Kalli]

Yeah, an average is one interaction for every 2,000 followers on Facebook, but I can speak from experience. Advisors, in general, don't have 2,000 followers, so you're going to have an even lower engagement rate. It's really eye-opening to me that you really want to work on building up your followers. Of course, I also read that as your followers grow, your engagement rate goes down.

The other thing that I noticed was engagement rate is low, but there are things that can help with that, like posting consistently. What are some other things that you saw when you were researching?

[Allen]

I think that the majority of all these average numbers don't really take into account where people would be spending money on advertising with these platforms, so a lot of the average numbers just appear to be what you would get on average organically rather than using paid promotion services.

Advertising on Social

[Kalli]

That is a great point. I can even say, in my experience doing social media for advisors is that unless you're putting money behind your content, it just doesn't get seen. Not only does it not get engagement, but it just doesn't get the views even if people are following you. So that's a really great point.

Let's talk about average viewers for each industry. We've got Facebook on average 8.6 of your followers see your content organically, meaning if you're not advertising. So if you have 200 followers, only 8.6 percent of them are actually going to see your content, if you're not advertising. It is a little bit higher on Instagram.

Advisors on Instagram

Instagram was one of the highest platforms as far as views. And engagement goes up, and of course, I know a lot of advisors aren't even allowed to use Instagram. Compliance just started allowing that, so there is definitely some opportunity there. However, I know, Allen, you just did a bunch of research on Instagram. What should people focus on if they're posting to Instagram?

[Allen]

Obviously, pictures are a really big part of it. I would say that this answer comes from the marketing side and a little bit of my sales background, and outside of having content, you must have quality content. I'm talking about the quality of your pictures, quality of what you put, and copywriting for each post that you use. In cases where reels get posted, which are those little snippet videos, production quality. That is just the baseline of where you should be with, not just Instagram, but all of these social media platforms. The biggest thing I think that helps contribute to getting more people to see your content or engage with them is to really find out what your audience likes, is interested in learning and providing that value.

Quality Content & Developing Trust

The biggest mistake I've seen with some of the Instagram research that I've done with other pages is that they're very focused on promoting services, and you know where's the real value in that? People can understand who you are and what you do, but if all you're telling them is, hey, I can solve your problem without already providing some sort of insight or value no one's really going to think to go to you first.

[Kalli]

Yep, it's establishing that trust in the value you can provide, which is why content can be so powerful. If you're releasing content that shows you're an expert and not just saying you are. It's the difference between going in a room and saying I know about marketing or going into a room and then saying I know that the average engagement rate on Facebook is five percent. One shows you have that expertise, and the other is just tooting your own horn.

Email Expectations & Tips

[Kalli]

So email is another one that I think is really big on views and engagement. Of course, everybody gets too many emails, and that's a question or a concern I often get from advisors - "Am I sending too many emails," or the concern that "I don't want to send too many emails to my audience." I wouldn't send an email daily, of course, but one of the things that sticks out to me is that compared to social media, you're getting a much larger view percentage. 27 is the average open rate for financial services emails that are going out, which makes sense because if they are clients, they're more likely to open your email in case there's something wrong with their money. Unfortunately, we couldn't find the percentage difference between the client versus prospects, but even just the 27, that's a big number in comparison. Then out of that, a 10% click-to-open rate, meaning that however many people opened the email, that's the percentage that clicked on the link inside of your email. So ten is pretty good if you look at the engagement rate of the social media accounts. Like Twitter is under one percent. LinkedIn is three percent. Facebook is half a percent. I definitely encourage people to get email addresses. Create a solid email list so people that you are sending emails to want them.

Something to keep in mind with emails are that as you're sending them out if people are not opening your email, it actually hurts your email rating. Same thing if people are engaged or not. Your email rating will determine if you go into the spam folder or if you go into their inbox, so I would say don't buy email addresses from someone that are just cold because that's going to hurt the open and engagement rate, which will then get your emails into spam.

Website Traffic for advisors

[Kalli]

Let's talk about websites, that's another one I get asked about a lot: "how many visitors should I have an average of?" We found 300 to be the average number of website visitors for advisors per month, which I actually feel like is abit low with what I've seen, but that's what the stats say.

Buying social media followers

[Kalli]

Speaking of buying email lists, let's discuss buying followers.

[Allen]

When it comes to buying followers on social media platforms like YouTube, Instagram, Twitter, or Facebook, it is generally considered one of the worst things you can do for your online presence. These platforms have been around for years and have become adept at identifying fraudulent activities aimed at artificially inflating numbers.

If you purchase followers, engagements, or any form of paid metrics to boost your numbers on social media, the platforms will eventually notice and recognize these illegitimate activities. On platforms like Instagram, this can result in being shadowbanned, where your content is not promoted to users outside of your existing followers. Being shadowbanned can severely hurt your reach and visibility on the platform.

Buying followers, views, and engagements is detrimental to your social media presence. Even if it temporarily increases your numbers, the negative consequences, such as being shadowbanned, outweigh any short-term benefits. It is important to focus on genuine engagement and building an organic audience instead.

As for where someone can buy followers, I don't have specific business names or places to recommend, as I discourage engaging in such practices. However, there are services available that specialize in providing fake followers, views, and engagements. These services cannot guarantee genuine results, and engaging with them can be seen as an unethical and illegitimate business practice.

The difference between advertising for followers and buying followers lies in the approach. A legitimate marketing service focuses on creating engaging content tailored to the target audience, attracting organic followers who are genuinely interested in your page or brand. Buying followers, on the other hand, relies on artificial methods that create a false perception of popularity.

To draw an analogy, it's similar to the difference between ethical hackers (known as white hats) who uncover vulnerabilities in systems for good reasons, and malicious hackers (known as black hats) who exploit those vulnerabilities for nefarious purposes. The key distinction is the ethical and genuine approach versus the deceptive and illegitimate methods used.

It's important to prioritize building a genuine audience through authentic engagement rather than resorting to buying followers, views, or engagements.

Advertise instead of Buying social media followers

[Kalli]

Absolutely. I would say that advertising, even just a couple hundred dollars a month, can make a huge difference in terms of generating views and engagement. One strategy we implement internally is creating audience filters for our advertising campaigns. This allows us to ensure that the content we create for our clients' target audience is effectively reaching and engaging with that specific audience through targeted advertising. By narrowing down the audience and refining our targeting, we can maximize the impact and effectiveness of the advertising efforts.

YOUTUBE & VIDEO VIEWS

[Kalli]

Let's discuss YouTube, and if you're watching this on social media, feel free to type your questions in the chat, and we'll address them here.

One thing that stands out about YouTube is how it counts views differently compared to other platforms like Facebook, LinkedIn, Twitter, and Instagram. On those platforms, a view is considered an engagement. However, on YouTube, views are tracked separately from other forms of engagement. This means that liking or commenting on a YouTube video is considered separate from actually watching the video itself.

When it comes to YouTube views, you can expect that out of every 100 impressions (when your video appears in someone's feed), approximately two to ten people will click play to watch the video. It's important to understand that impressions are the instances when your video is seen, while views refer to people actually watching it.

Another crucial metric on YouTube is the average view duration. On average, viewers tend to watch about 50 to 60 percent of a video. So, if you have a two-minute video, people might only watch until the one-minute mark. This is significant because, traditionally, we place our call-to-action at the end of a video. However, if viewers drop off halfway through, it might be more effective to include the call-to-action at the beginning of your video.

Additionally, when it comes to average subscribers, if you have a thousand views on your video, on average, around three people will subscribe to your channel. It's worth noting that without advertising your video, a thousand views is considered relatively high. Typically, view counts range from a hundred to around 500, depending on various factors.

Understanding these metrics can help you gauge the performance and engagement of your YouTube videos and make informed decisions about optimizing your content.

GROWING YOUTUBE FOLLOWERS

[Allen]

Yeah, growing YouTube followers can be more challenging compared to other social media platforms. Advertising plays a significant role here as well. Similar to other platforms, YouTube operates in a pay-to-play market. With these platforms going public, generating revenue through advertising has become crucial for their sustainability.

Moreover, when it comes to paying for advertising, it's important to recognize that your competitors are likely using some form of paid services to promote their content. To compete on the same level, it becomes necessary for you to do the same and invest in advertising.

In this competitive landscape, utilizing paid advertising can help you gain visibility, reach a broader audience, and increase your chances of growing your YouTube following.

youtube engagement rate

[Kalli]

Absolutely. Let's discuss the engagement rate and how it is calculated across different platforms. The calculation of the engagement rate varies depending on the platform, except for YouTube, which has its own unique metrics.

For platforms like Facebook, Twitter, and Instagram, the engagement rate is typically dependent on your following count. It takes into account how many people from your following count or even those who don't follow you have viewed your post. The engagement rate is calculated by dividing the number of impressions (the instances your content is seen) by the actual engagement, which can be measured through various actions such as comments, shares, and other forms of interaction.

It's important to note that the engagement rate is not solely based on impressions; it focuses on the interaction from your followers. This means that if your content is shown to a large number of people who aren't following your page, their interactions wouldn't be factored into the engagement rate.

Understanding how engagement rate is calculated allows you to assess the level of interaction and response your content receives from your target audience and helps you gauge the effectiveness of your social media strategy.

social media expected engagement rates

[Kalli]

How do you calculate the engagement rates of the other platforms?

[Allen]

When calculating the engagement rate on platforms like Facebook, Twitter, and Instagram, it is dependent on your following count. The engagement rate takes into account how many people, including both your followers and those who don't follow you, have viewed your post. To calculate the engagement rate, you divide the number of impressions (the instances your content is seen) by the actual engagement. Engagement can be measured in various ways, such as comments, shares, and other interactive actions.

It's crucial to note that the engagement rate is not based solely on impressions; it focuses on the interaction from your followers. This means that if your content is shown to a significant number of people who aren't following your page, their interactions wouldn't be included in the engagement rate calculation.

Understanding this distinction is important because it helps you grasp that the engagement rate is tied to your followers rather than overall impressions. Initially, this may raise the question of whether content shown to non-followers should be considered in the engagement rate.

To summarize, if your content is displayed to individuals who aren't following your page, their interactions won't contribute to the engagement rate. The engagement rate primarily reflects the level of engagement from your existing followers.

Why Bother?

[Kalli]

Knowing the engagement rate is so low, why should somebody do social media for their company?

[Allen]

As I mentioned earlier, it's crucial to stay competitive with others in your industry, as they are likely utilizing similar services and strategies. Nowadays, most people are online, and the internet is the prime platform for gaining recognition. Consider this: What's the first thing you do before setting up a meeting with a new vendor or establishing a business relationship? You Google them. It's common to find that reputable websites also maintain a strong social media presence. This not only strengthens their brand but also creates a perception of being a bigger player in the industry.

Having a strong online presence, including a robust website and active social media channels, adds to the perceived value of a business. When faced with a purchasing decision between Company A and Company B, many individuals, including myself, conduct thorough research to ensure they make the right choice. If I find that Company A has an unprofessional website, infrequent social media posts, and limited social media channels, while Company B has a well-designed website and consistently shares relevant content on their social media platforms, I'm inclined to believe that Company B is the better option.

Perceived value plays a significant role in influencing consumer decisions. By maintaining an impressive online presence and providing valuable content to your target audience, you can establish yourself as a more reliable and trustworthy brand compared to competitors who neglect their online presence.

[Kalli]

Absolutely, especially for financial advisors, establishing a strong online presence is crucial due to the nature of their work. When it comes to handling people's life savings, potential clients are unlikely to make a decision without conducting thorough research. Financial advising is a deeply personal business transaction, and individuals want to ensure that they can build a rapport with the advisor who will be managing their entire savings.

Social media platforms offer a powerful tool for creating that personal connection, not only with prospects but also with existing clients. By leveraging social media, financial advisors can cultivate loyalty and encourage referrals from satisfied clients. Sharing relevant content through social media channels allows advisors to showcase their expertise, provide valuable insights, and build trust with their audience.

Maintaining an active presence on social media platforms enables financial advisors to engage with prospects, answer questions, address concerns, and establish themselves as trusted professionals in the industry. Additionally, by consistently providing relevant and helpful content, advisors can position themselves as a valuable resource for their clients, reinforcing the personal connection and fostering long-term relationships.

Which Platforms Should an advisor be on?

[Kalli]

Now, something that we get asked is which platforms should I be on? We've included the most popular ones in this PDF. We don't have TikTok on here, although I don't think many advisors are allowed to use TikTok due to compliance. But which platforms should you be on?

I would say absolutely YouTube. It is the second-largest search platform, just under Google. After that, it depends on your audience. If you're trying to reach people who are pre-retirement and retirement, they're generally going to be on Facebook. If you're trying to reach someone who works at a specific company or within a specific industry, such as providing 401K services for gas and oil employees, you'll want to use LinkedIn. In the ad audience filters on LinkedIn, you can narrow down where the person works, their industry, and even their job title. This level of targeting is not available on Facebook, which is more focused on personal interests, hobbies, and preferences.

Instagram is another platform worth considering. In your research, Allen, who would be best to reach on Instagram?

[Allen]

I believe the majority of people who use the platform are in their 20s up to their 50s. Possibly any young professionals you want to reach out to, I'm sure they still use Instagram, maybe not as much as other people, but it's mostly a younger-ish generation. However, that's starting to shift now. I feel like younger audiences are shifting the trend to TikTok, and then before we know it, there's probably going to be another social media platform where all the young people will go.

[Kalli]

Snapchat is a big one, especially for a younger age group. However, I don't think they would be looking to work with an advisor at this point. Twitter has had a lot of problems recently that we've all seen in the news. Beyond that, I generally don't recommend Twitter for advisors because it's a very reactive platform. Advisors are always saying not to time the market and not to stress over bad headlines in the news. Twitter focuses on those big news headlines, so it doesn't really make sense for advisors who are promoting a different approach to be on that platform.

[Kalli]

Allen, do you have any insight on Twitter based on when you were researching all this?

[Allen]

Twitter is a powerful platform for communication and discussions. It allows for direct responses and can generate extensive threads with people sharing their ideas. It can be useful for promoting certain investment ideologies or engaging with an existing audience that appreciates your opinions. However, in terms of reaching a new audience, Twitter may not be as effective unless a tweet goes viral and attracts a large number of responses. Twitter is known for being a platform where opinions are shared and debated, making it more suitable for certain purposes rather than broad audience reach.

In closing

[Kalli]

I agree. Let's see, it's currently 12:30, and we had allocated 30 minutes for Q&A before we wrap up.

Next month we'll be hosting another live stream called "Ask Us Marketing." We'll have Tommy Doerfler from Lighthouse Wealth Group as our guest, who will be sharing his strategies on achieving net new asset goals during a market downturn in 2022. It should be really interesting, and we encourage everyone to join and bring their questions. We'll delve into what worked for him, which might inspire ideas for others as well. The live stream will take place on the first Monday of March, which is March 6th, at noon Central Time, same as today. So, thank you all for joining us. Alan, thank you for sharing your research and expertise, and thanks to everyone who watched. We'll catch you next time. Goodbye.

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