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Practice Management > Marketing and Communications > Social Media

Is there an ROI to social strategy? YES.

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Advisors still question the value of social media – is it worth the time and effort spent learning how to use it properly and is there really an ROI?

Here’s the bottom line: 

Social media will help you reach your target market effectively. More than half of the entire planet is on social media – and you should be, too. 

Social media platforms are not only a great way to find new prospects, but are also essential to being found by your audience.

Your clients and prospects are looking for you via social; if you don’t appear online, consider yourself invisible.

Chris O’Neill, Director of Google Canada, reported that 86 percent of Canadians do research online to get more information about products and services before they buy. Even more intriguing, social media plays an active role in purchasing decisions. For instance, 42 percent of users learn about products and services from their connections on Twitter and 79 percent of users are more likely to recommend brands they follow.

These numbers aren’t so astonishing when you think about what social media is at its core: people talking to other people. Who do you trust more: a friend’s referral or a TV advertisement?

In April 2013, Advisor Websites surveyed nearly 100 advisors about how they currently use social media. Fifteen percent of respondents say they saw results from their social media efforts ‘almost immediately’ and 19 percent percent claim they have acquired between 10-20 clients using social media.

Based on these numbers, we know social media is an effective marketing strategy that generates tangible, measureable results.

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