“Social media is our generation’s version of cold calling.” This insight comes from a 30-something financial advisor, and is a reminder that even as technology and generational conventions change, the need to connect on a personal level with prospects remains a top imperative for every advisor..
Social media is a double-edged sword in this regard. It allows advisors an unprecedented view into the lives of prospects as well as clients—what they do for a living, schools they attended, sports their kids play, and so on. But social media also needs constant care and feeding.
So how can you leverage it most efficiently?
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Step No. 1 is to focus. Advisors should identify a few platforms that will connect best with target clients and prospects. According to the Pew Research Center, Facebook is by far the most popular social-media platform, with 79% of all online adults using the service.
It is also counts the highest number of users in the 50-plus age group. Only 29% of online adults use LinkedIn, but they are likely to be college graduates and high-income earners. Twitter and Instagram skew younger.
Step No. 2: Know what your firm requires to ensure you are meeting compliance standards. Independent advisors might have a little more flexibility than those at the big Wall Street firms, but bigger firms might have a lot of ready-to-use content available to their advisors.
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Step No. 3: Cultivating and maintaining an active social-media persona. This means updating your social-media accounts regularly. Sharing well-chosen personal information in these updates can help humanize and differentiate an advisor.
Step No. 4: Connecting with clients via social media—friending and following them—so your posts will become visible to their connections. That will give you a view of their lives and could lead to an opportunity to expand the relationship.
Step No. 5: Make yourself useful to your connections by posting educational material. Explain what an alternative investment is, or what the latest government statistic means. Such posts will position you as knowledgeable and helpful.
Step No. 6: Use LinkedIn to be smarter about lead generation. Because it revolves around professional connections, LinkedIn is an uber-efficient way to find those who work at firms whose retirement plans you know intimately, or those working in industries in which you specialize.
Guest Authored By Libby J. Dubick. Libby is the founder of New York–based Dubick & Associates, a financial marketing consultancy.
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"Step No. 7: Think about how your social media-presence looks visually. Make sure your head shot is becoming and that you look approachable.
Use cartoons, drawings, photos, and charts.
As you listen to others on social media and contribute, that world will become a natural part of your communication strategy.. -Libby J. Dubick
Authored by:Fred Hansen Pied Piper of Social Media Marketing at GetMoreHere.com & CEO of Millennium 7 Publishing Co. in Los Angeles, CA where I work deep in the trenches of social media strategy, community management and trends. My interests include; online business educator, social media marketing, new marketing technology, skiing, hunting, fishing and The Rolling Stones..-Not necessarily in that order ;)
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