Close Close
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
Doug Wilber. (Photo: Social Denim)

Practice Management > Marketing and Communications > Social Media

6 Social Media Do’s and Don’ts for Financial Pros

Your article was successfully shared with the contacts you provided.

What You Need to Know

  • Younger generations are the clients of the future, and every generation is increasingly digital.
  • This means that social media marketing for your firm is a necessity.
  • However, crafting and maintaining a good social strategy doesn’t have to be complicated.

In today’s competitive insurance and financial advice marketplaces, it’s impossible to deny the effect of social media on business — and, quite frankly, social media in general. A 2022 Pew Research study showed that consumers in every age group are shifting to digital, especially younger generations.

Many are looking for crucial guidance online, including insurance and financial advice. In fact, Gen Z is five times likelier to acquire financial advice on social media than people 41 and over.

While millennials and Gen Zers may not dominate your book of business yet, they are the clients of the future, and every generation is increasingly digital. Social media marketing for your firm and your advisors is no longer optional — it’s necessary.

A genuine, consistent and engaging social strategy can make your brand and team members all the more trustworthy, relevant and reliable in the eyes of prospective and current clients.

The good news is that creating and maintaining a social strategy doesn’t have to be complicated. Follow these do’s and don’ts to optimize your activity, build relationships with new and existing customers, and bring your brand to life with social selling.

Relationships are the foundation of both the insurance and financial services industries. A client has a relationship with a person and not a logo, after all. While it’s important to maintain brand social media pages that communicate your firm’s values and mission, the actual value of social media lies in the humans behind it.

Don’t rely solely on brand pages. Social sell instead.

If your brand is active on social media, you’re off to a great start — but you’re leaving an opportunity on the table if you’re not empowering agents and advisors to share content on social.

Social selling is just what it sounds like: using social media to sell a product or service. It’s leveraging social channels to showcase thought leadership, engage with prospects, interact with existing customers and ultimately build trust and rapport that will lead to sales.

A good social selling program puts agents and advisors at the center of your social media strategy. The good news is that these intermediaries can approach their prospective clients on social media the same way they would in person: finding ways to solve their problems through informative, authentic posts that humanize your brand.

Do encourage authenticity.

Advisors and agents can help make your social media more authentic by being themselves.

Think about it this way: If an agent wouldn’t have the conversation in real life, don’t have it on social media. For instance, if an intermediary engages with a prospect and solely promotes themselves instead of learning about the client, the conversation is probably too sales-heavy; tactics like these might deter people from committing further to your brand.

Instead, encourage your agents to connect with clients and prospects on a more practical and personal level. Showing them that you’re listening and want to help solve their problems goes a long way toward building trust and conversions.

Don’t forget the basics of profile optimization.

Excited to get your agents and advisors posting? Don’t forget the social media fundamentals. Before your advisors click “Post,” check your brand page (and social sellers’ profiles) for consistent messaging, profile images, cover images and “About” sections.

Profile images should be professional and current, cover images should be on brand and information — including hours of operation, phone numbers and contact emails — should be accurate. Customers must view your brand and intermediaries as cohesive, consistent and up to date.

Do empower agents and advisors to create content.

Social sellers not only need to post regularly but also with purpose. Agent and advisor social profiles should be an extension of who they are in real life. They should use their personal content to tell a story about what they do and why. Authenticity always wins in social media, and you’ll quickly see that your advisors’ personal stories and content garner the most engagement.

Potential clients want to know your brand’s image isn’t just a formula but genuine people — it’s your job to help intermediaries peel back the curtain. (And do the same on your brand social pages!)

Don’t mess around with compliance.

Anyone in the insurance or financial services industry understands the importance of compliance. All social media must be compliant, from your brand pages to individual posts from intermediaries. If the idea of intermediaries posting themselves gives you the marketer night sweats and compliance jitters, remember that authentic content drives social selling’s success. The more transparent your sellers are, the better their outcomes will be.

If you’re unsure about what kind of posts are or aren’t allowed in your firm’s social selling strategy, work with a trusted platform that ensures compliance at every step.

Do use the best tools.

Whether you need to generate compliance-approved content, engage in social listening or integrate your content and advertising efforts, plenty of digital partners can help your social selling and social media efforts succeed.

Just be sure to find someone who aligns with your company’s values, understands your industry and is as committed to communicating your authentic brand voice as you are.

Maintaining an effective online presence is critical for showing clients you are relevant and reliable. Showcase your authentic brand voice, empower social sellers to become active promoters (of themselves and the firm) and follow these other do’s and don’ts to better engage with current and potential customers.

Pictured: Doug Wilber. (Photo: Social Denim)

Doug Wilber is the CEO of Denim Social, a social media management software company that provides tools to empower marketers in regulated industries to manage organic social media content and paid social media advertising on one platform.

Join our LinkedIn group, ALM’s Small Business Adviser, a space where small-business owners can gather to network, have discussions and keep up with the trends and issues affecting their industries or visit our ALM Small Business Adviser group on Facebook.


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