social media marketing for financial advisors

Social Media Marketing 101: Social Media Marketing 101: How to use social media to attract clients

Featured Presenter: Stephanie Sammons, WIREDADVISOR

Presenter: Cynthia Stephens, ByAllAccounts

Agenda

1 Key Takeaways

2 The social media landscape

3 FINRA guidelines on social media web sites

4 Five tips on using social media to attract clients

5 Success stories from the early adopters

5 Q&A

Key Takeaways

• Your (potential) clients are online• 4 of 10 Investors ByAllAccount surveyed used a top social media

website in past 90 days

• Your competition is online• About half (42%) of advisors surveyed in the Rydex|SGI

AdvisorBenchmarking use LinkedIn.

• If you don’t use social media you’ll be left behind. • You need a comprehensive web presence to be found by potential

clients online and to remain competitive

• The more connections you have the more opportunities you have to gain exposure and generate introductions and referrals.

The Social Media LandscapeThe Social Media Landscape

According to a recent study by American Century Investments, 44

percent of financial services professionals agree that social media

is an emerging trend with significant potential for their business.

Social Networking Sites Continue to Grow

• 14.7 Million unique visitors to LinkedIn.com in March, 16%

above its March 2009 level

• 21.3M unique visitors on Twitter.com

Online Resource:

www.compete.com

Investors are Using Social Media Too

Have you used LinkedIn, Twitter, Facebook or other social media sites

within the past 90 days?

(Response percentages from investors with more than $500K in

investable assets)

4 of 10 Investors Investors

used a Social Media

Website in past 90 days

Source: ByAllAccounts’ HNW Investor Survey, April 2010. Preliminary Data.

Yes

No

HNW Investors Use Social Media, Do You?

• Advisors agree (44%) that social media is an emerging

trend with significant potential for their business

Source: American Century Investments study of financial professionals, March 2009

• Advisors see social networking platforms as a way to • Advisors see social networking platforms as a way to

enhance communication with current clients (35%) and as

a way to advertise or promote their firms (30%).

• About half (42%) of advisors use LinkedIn, followed by

Facebook (27%),YouTube (15%) and Twitter (13%)• Source: The 2010 Rydex|SGI AdvisorBenchmarking Semiannual (Winter 2010) Study

Don’t Get Left Behind

FINRA Guidelines on Social

Media Web SitesMedia Web Sites

“According to a recent report by the Pew Internet and American

Life Project, 46 percent of American adults who use the Internet

logged onto a social networking site in 2009, which is up from8

percent in 2005. Other studies have shown that use of social

media sites by businesses to communicate with customers and

the public has grown significantly in the past few years.

FINRA Regulatory Notice 10-06, January 2010

FINRA Guidelines Issued

• Guidance on Blogs and

Social Networking Web

Sites issued January

2010

Topics include:• Topics include:• Blogs

• Communications with the Public

• Recordkeeping

• Social Networking Web Sites

• Supervision

FINRA Best Practices

• Keep comments general; No specific

recommendations

• No testimonials

Credit your sources• Credit your sources

• Static versus Interactive Content

Online Resource: http://bit.ly/8Z5DY4

Five Tips on Using Social Media

to Attract Clientsto Attract Clients

“If you see LinkedIn or others as simply a place to post your resume,

you're missing the point. Social networking sites are remarkable —

maybe even unrivaled — tools for marketing yourself. Treat them as

such.”

Investment News, Social Media : 10 things every advisor should know

The Internet Has Changed

“The internet is the great equalizer”

-Business Week 1996

Tip 1. Create and Populate Profiles

• The big-4 social networks are the most valuable

networks for building a consistent online presence

(LinkedIn, Facebook, Twitter, and YouTube)

• Create consistent descriptions and use a professional • Create consistent descriptions and use a professional

picture

• Link back to your website from all of your social profiles

• Enable your profiles to be viewable by all

Takeaway: You need a consistent “social” web presence to be found by

potential clients online

Financial Advisor Social Profiles

Tip 2: Make Smart Connections

• Build connections, but be selective

• Cross-pollinate connections from your networks

• Professionalism and personality (Be Human!)

Takeaway: The more connections you have the more opportunities

you have to generate introductions and referrals.

The Power of Your Online Network

Tip 3: Listen and Learn

• Leverage transparency to learn about prospects

and clients

Observe and learn from peers who are paving the • Observe and learn from peers who are paving the

way

• Listen to your connections to identify niche themes

Takeaway: Social media will allow you to develop a more

personalized communication strategy

Advisors on Twitter

• @Rwohlner

• @russthornton

• @BillWinterberg

• @curtisfinancial• @curtisfinancial

• @jeffrosecfp

• @icmcfinadvisors

• @curtisfinancial

• @Advperspectives

LinkedIn Resources for Advisors

Tip 4. Claim your Online Real Estate

• You are being “Googled”

• 50 million searches for individual people daily!

• Claim “page one” of your Google search results

(website, free Google tools, major social profiles)

• Manage your online reputation pro-actively

BONUS: http://www.google.com/profiles AND http://www.google.com/places

Takeaway: Steer perception by taking control of your online

brand assets

Example: Claiming Your Google Search Results

• Websites

• Specific network and

directory

• Maps

Twitter• Twitter

• Facebook profile

• Blog

CLAIM YOUR GOOGLE PROFILE

Tip 5: Proceed with Cautious Optimism

• Be authentic!

Never engage in self-serving behavior

• Be value-added – Relevant topic ideas?

http://www.alltop.comhttp://www.alltop.com

• Be compliant and archive your social media activity

(arkovi.com, smarsh.com, socialware.com)

• Focus your efforts

Takeaway: Be yourself

Success Stories from the Early

AdoptersAdopters

“I have met (in person and online) a number of fellow financial advisors

from whose Tweets (posts for you non-Twitter users) I learn something

new every day. Whether from their blogs or article links Twitter is a

great source of information. Additionally I feel that I have greatly

expanded my network of experts to whom I can turn with questions in

areas where I may not have the direct expertise.”

Roger Wohlner,CFP, Dec. 10 2009 blog post

Case Study: Jeff Rose, CFP Illinois

Case Study: Curtis A. Smith, CFP Sugarland TX

Actionable Next Steps

Opportunity Next Step

Listen: follow peers online and build

your professional networks

Build a “must-read” list

http://wohlnerfinancial.blogspot.com/2009/

12/financial-advisors-and-twitter.html

Setup your Google Profile and Google

Get involved: Make sure potential

clients can find you online

Setup your Google Profile and Google

Places Profile

http://www.google.com/profiles

http://www.google.com/places

Participate: Engage with peers,

influencers, clients and prospectsSet up a Twitter Profile, Join LinkedIn

Professional Groups

ByAllAccounts and Wired Advisor Online

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@wiredadvisor

@ByAllAccounts

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Questions?

Stephanie Sammons

WIRED ADVISOR, LLC

stephanie@wiredadvisor.com

@stephsammons

Cynthia Stephens

ByAllAccounts

cstephens@byallaccounts.com

@ByAllAccounts

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