As more and more prospects become social media savvy, an active social media presence has become critical for competitive advisors. The numbers are impressive: Per a Pew Research study conducted earlier this year, 43% of people age 65 and older say they use social media, up from just 13 percent in 2009. If your market is boomers, the percentage is even higher: 60 percent of 50-64 year-olds say they are active on at least one social networking site.
Looking at the advisor population, the numbers fall somewhere in between: 47 percent of respondents in National Underwriter’s recent Independent Producer Study say they use social media professionally, with LinkedIn being the platform of choice. But that number may be subject to change in short order: Among those that do not use social media, 34 percent say they are interested in leaning how to incorporate it into their practice.