Because so many people use social media sites such as Facebook, Twitter and LinkedIn, financial advisors can no longer afford to ignore having a presence on one or more of these platforms. Let's look at some of the uses and benefits that financial advisors can derive from using social media.
People Use Social Media for Help With Their Finances
People get more and more of their news and information via social media. This includes financial news and information about markets. Posting timely news and trends about financial markets on social media sites is a good way to reach your audience. Social media marketing is now a powerful way to get people's attention so they seek further information on your website.
It's the Great Way to Reach Millennials
Younger investors, in particular, are likely to use social media for news and information. Millennials like to digest information in short, concise snippets. For this reason, Twitter is one of the best platforms to reach this audience. One indication that Twitter users are hungry for this kind of information is that Twitter now streams financial news from Bloomberg. When you have targeted followers on Twitter and other social media sites, it's easy to pique their interest with short messages regarding their personal finances. As millennials get older, they'll be investing more and more. This makes it important to grab their attention using social media if you want to attract them as clients.
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LinkedIn is a Powerful Vehicle for B2B Marketing
Some of the best customers for financial advice are business professionals, including both employees and owners. One of the best places to reach such an audience is on LinkedIn. There are several ways to use this fast-growing platform to reach potential clients. Sponsored ads allow you to attract new prospects to your LinkedIn profile or website. Joining or starting groups on LinkedIn is another way to connect. Beyond this, simply having a strong profile, posting helpful content and regularly widening your circle of contacts helps generate leads.
Be Cautious With Social Media
Financial advisors must exercise some caution when using social media. It's best to avoid promoting specific investments or making promises for certain results, as this can violate SEC regulations. Social media users also have a low tolerance for anything that resembles spam. It's safer and more effective to focus on generating useful content that will make readers want to learn more about your services. By sharing your expertise and interpreting the latest financial news, you position yourself as an authority. Some ways to do this include writing articles, making videos or publishing white papers. Longer content is not usually suitable for social media. It's easy enough, however, to provide snippets and link to the longer content on your website.
Use Social Media to Build Your Email List
Another powerful way to leverage social media is to use it to build a mailing list. This works best if you publish a regular email newsletter. You can capture email addresses on some social media platforms, such as Facebook. On other sites, such as Twitter, you can link to an opt-in form on your website. This approach requires you to provide subscribers with an incentive to subscribe. This might be a report or e-book. Make sure you provide something that offers real value and isn't merely an advertisement for your services.
Social media sites are playing an ever-larger role in people's lives. People check their Facebook and Twitter statuses constantly, often from their mobile devices. Younger people are especially caught up in this phenomenon. Both your clients and potential clients are spending a great deal of time checking these sites. It only makes sense, therefore, to position yourself to reach them in this manner.