New LIMRA research has revealed that six in 10 financial services companies have programs in place to assist their financial advisors and representatives with social media.
“We already know that almost all financial services companies are using social media,” said Norah Denley, senior research analyst, Distribution and Technology Research, LIMRA, and the report’s author. “That’s been the case for some time. But this study reveals the extent to which companies are helping their advisors and representatives capitalize on their social media presence and engage in best practices.”
As the industry widens its outreach to consumers, supportive efforts to advisors are coming in a variety of shapes and sizes, with companies providing examples, guidelines, content and training, according to the LIMRA study Supporting Social Media, which surveyed 36 financial services companies to find out more about their efforts.
Denley also noted the level of support required varies, depending largely on how sophisticated employees are with their knowledge of social media in a business context.
Beyond training and content for financial professionals, three factors are critical to social media success, according to the report: executive buy-in, internal training, and awareness.