social media marketing for financial advisors
DESCRIPTION
This presentation gives 5 major tips for helping financial advisors to get started in social media.TRANSCRIPT
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
@ByAllAccounts
@wiredadvisor
@ByAllAccounts
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Questions?
Stephanie Sammons
WIRED ADVISOR, LLC
@stephsammons
Cynthia Stephens
ByAllAccounts
@ByAllAccounts
Contact us for your Free Account Aggregation Business Value Assessment
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