Social media is part of our everyday lives. We utilize social media platforms at home and work, and a majority of investment advisors agree that while tons of ‘new business’ may not be coming in directly as a result, improving relationships with clients and prospects is a definite ingredient for future business growth.
Social media provides a cost-effective means to build your practice and obtain wider and faster distribution of news and information, which enables you to better market your advice and service. It also represents a means to easily reach your clients through interaction. It is an informal, yet personal, means to communicate.
What we say, how we say it, and who we say it to are keys to successfully reaching your audience. Here are a few social media marketing tips:
Know Your Audience: Find your network in the right places. Facebook has groups and LinkedIn has forums. If these people are in your target market, you need to hang out where they hang out.
Engage: Social media is never really “off,” so if you’re only logging in or posting periodically, you could be missing out on potential leads, or important events happening to your current clients. You could be skipped over because you post so infrequently.
Leverage News or Events: If you are attending an event where you want to meet clients, post it on social media. You could have an opportunity to meet up with people who are also in attendance. Or people might use this as a conversation starter upon your return.
Find Out About People: Take a look at what your competitors post, who they follow, who follows them, and their most popular posts. Doing research on prospects and clients from their social media accounts will allow you to find out more about them before you meet.
Obviously, know the rules around social media as well. There are pretty firm policies for Advisors that are not always intuitive to this informal type of communication. Remember to follow H. Beck on LinkedIn and Facebook!