Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Practice Management > Marketing and Communications > Social Media

Is there an ROI to social strategy? YES.

By Maggie Crowley

X
Your article was successfully shared with the contacts you provided.

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.

Sign up for The Lead and get a new tip in your inbox every day! More tips:

Please Note: this article is for informational purposes only. We strongly encourage you to verify any content and information you use with your own compliance department or legal counsel.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.