If you’re one of the two out of three financial professionals who are out of the social media loop, you could be missing opportunities to boost your advisory business. Although the SEC and FINRA are cracking down on firms for social media misuse, there’s still a wealth of untapped marketing potential for advisors brave enough forge into this new territory.
Social media sites like Facebook, Twitter, and LinkedIn can be used to build opportunities – if you know how to use them to the best of your advantage. Clara Shih, author of The Facebook Era, believes that social media marketing, with training and best practices, can be a formula for success. Shih offers tips to help advisors gain success by using social media as a tool to grow their advisory business by connecting with prospective clients and strengthening existing client relationships.
To begin, choose the appropriate social media platform. Finding the appropriate social market depends on your firm’s services and goals. Studies show that LinkedIn is the most popular social media resource among advisors. Rather than spread yourself thin posting on every social media site that pops up, focus your time and energy on LinkedIn or another site that caters to professionals. But that doesn’t mean you should totally ignore the other big sites. Reserve descriptive usernames on Facebook and Twitter to ensure the names are available if you choose to utilize those networks in the future.
Keep Content Fresh and Consistent
Model your social media pages after good restaurants—keep it fresh by adding new information to the page on a regular basis, but don’t overdo it by changing everything every month.
You should keep your profile up to date, but not to the point where you’re overwhelming your clients with hourly updates and posts. Shih suggests posting at least once per week, but no more than once per day.
Consistency will help you create a high-quality personal brand. To that end, use the same photograph and biography on all social media sites. Remember to keep your brand professional – which includes checking your biography and updates for errors. Despite conducting business online, clients are still seeking reliable, professional advisors.
To increase your visibility on social media sites, use the right keywords to enable clients to locate your profile easily. Don’t write the text for your site off the top of your head. Think