Networking and Social Media

Do you have more than 100 friends on Facebook? What about 200? 300? 1,000?

Well, let me tell you something: They’re not your friends. Not all of them, anyway. Here’s a test: Post a note to your 1,000 friends and ask them to help you move. Those who respond and offer to help – now they’re your friends! These are some of the sentiments of Jimmy Kimmel, who declared Nov. 17 National Unfriend Day.

And I don’t disagree. I’m probably one of the few people on earth who has absolutely no patience for Facebook. Do I think it’s a valuable tool that helps people meet and stay in touch? Yes, of course. Is it interesting, fun, and even addicting at times? No doubt. But I don’t need to know who’s eating mashed potatoes, what you’re doing with your cat, or what my buddy from high school is thinking every 14 minutes. One of my Facebook friends (a true friend, by the way) is a trainer at a gym, and actually posts every single day when he’s on the way to the gym . (Unfriend.)

Now, I understand that Facebook was originally designed for social reasons, and that such tools as LinkedIn and Twitter may be better applications for businesses. But do all of your friends, connections, and followers truly belong there? How often does someone contact you out of the blue on a social media platform and you have no idea who they are?

OK – now for some valuable perspective. Online networking time is not the same as meeting someone face to face. There’s a much different protocol, and it takes longer to establish a good relationship online. In fact, I tell advisors that online networking is only a small part of actual networking. Sometimes, connecting with others online for business purposes can mark the beginning of a valuable relationship, but most of the time, it can be intrusive, meaningless, or even an annoyance.

This is especially true within the financial services industry. Compliance departments and the industry’s governing bodies haven’t even figured out how social media fits into their world as a marketing tool. One of my clients, a major life insurance company, doesn’t even allow its financial advisors to use social media for business purposes. At a meeting at which I spoke, this company actually told advisors outright that if they used such tools as LinkedIn, that they would be immediately fired, with no questions asked. (I would mention the company, but don’t want them to unfriend me.)

Anyway, here are some quick and easy tips on how to best utilize social media as an advisor, agent, rep, or broker.

Have an awesome profile

You want your profile to be well-written and contain enough keywords to position you as an expert. Such online communities as LinkedIn are particularly friendly to Google, Yahoo, and other search engines. This means that if someone were to conduct a search using your name, you and your website should appear high in the rankings (depending on your name).

Pick a few areas of interest that you want to be known for

Long term care, annuities, financial planning, retirement, special needs, and insurance are great examples. Don’t try to be known as an expert in all of these areas, even if you are. Focus on just one or two so you can brand yourself as having a specialty. Now, your postings can focus on helping others in those areas, and you’ll attract those who are truly interested. Hey, they may even go to your website and contact you directly for advice, or even to hire you.

Join groups

This is one of the reasons it’s important to have a target market – those you serve best and therefore wish to serve most. You can join online groups for free and communicate with others who have a common interest and a need for your products and services. For example, if your niche is the physician marketplace, you can join related groups and offer advice and respond to questions that benefit that market. That’s a great way to earn credibility, visibility, and increased online traffic.