As an investment professional, it’s crucial to keep up with the latest marketing trends and capitalize on them to keep your practice on the forefront.  In recent times, social media* marketing has proven to be a business building tool that unceasingly advances as every day passes.  Facebook, Twitter and LinkedIn continue to impact the financial services industry due to their cost efficiency, widespread reach and partiality by the next generation of investors.

Facebook

Touted as the “face” of social media, Facebook is the largest social networking website in the world¹.  People from all walks of life look to this site to share memories, express their feelings and communicate with others.  Financial advisors can use Facebook to build their online brand while enhancing rapport with current and potential customers in a more casual manner online rather than in a more formal office setting.

Twitter

Twitter is an online engagement service that enables its users to share their news and thoughts in the form of 140 character-based posts known as “tweets.” Although an elementary concept, this networking tool has made quite the impact on business owners’ engagement strategies.  For the first time ever, advisors have the ability to engage with clients and digitally market their firms to the world at a moment’s notice with the touch of a button.

LinkedIn

In the professional arena, it is customary to exchange business cards.  In the digital arena, the commonplace equivalent would be to request a connection on LinkedIn.  This business-based networking site presents the opportunity for users to virtually showcase their job history, educational background, organizational involvement and resume.  It also serves as a means for financial advisors to professionally network with customers, prospects and others in the financial services field by simply logging on.

Social media stands not as a promotional fad, but as strategic marketing platform with staying power to affect the financial services industry and its clients for years to come.

If you are interested in learning more about how NEXT can help you grow your business, call us today at 877-876-6398 ext. 4060 or using our contact form.

Sources:

1. “Leading Social Networks Worldwide as of August 2015, Ranked by Number of Active Users (in Millions).” Statista. Statista Inc., 1 Sept. 2014. Web. 10 Sept. 2014. Retrieved from: http://www.statista.com/statistics/272014/global-social-networks-ranked-by-number-of-users

2. “Social Media 2014 Statistics.” Digital Insights Blog. Digital Insights, 5 June 2014. Web. 10 Sept. 2014. Retrieved from: http://blog.digitalinsights.in/social-media-users-2014-stats-numbers/05205287.html

3.”GWI Social Q3 – 2015.” Global Web Index Website. Global Web Index, 3 June 2014. Web. 10 Sept. 2014. Retrieved from: http://insight.globalwebindex.net/social-q3-2014

4. Malone, Katie. “The Socialympics: 2014 Social Media Statistics for Financial Advisors.” Financial Social Media Website. Financial Social Media, 13 Feb. 2014. Web. 10 Sept. 2014. Retrieved from: http://financialsocialmedia.com/olympics-2014-social-media-stats-financial-professionals/

5. Brodzky, Brandon. “Social Media User Statistics & Age Demographics for 2014.” LinkedIn Blog. LinkedIn, 18 Nov. 2014. Web. 16 Nov. 2014. Retrieved from: https://www.linkedin.com/pulse/20141118182103-28964915-social-media-user-statistics-age-demographics-for-2014

6. McIlwain, Amy, and Jimmy Douglas. The Social Advisor: Social Media Secrets of the Financial Industry. Vol. 1. CreateSpace Independent Platform, 2012. 168. Print.

*Before using social media, please consult your Compliance Department