Social Media Should Be a Part of Your Financial Firm’s Marketing Strategy

Social media is a great way tool to use as a financial investment firm. Social media data can be used to help clients get access to credit, open bank accounts or get a loan. These platforms go beyond just providing a place for people to connect, share and socialize. These high levels of penetration, engagement and use mean there are countless opportunities for financial advisors. The way people are connecting impacts the value financial service providers are able to deliver.

Social Media 101

As a financial investment firm, you should have a social media marketing plan. It is important to leverage multiple streams on social media to get the most out of it. There are many benefits to leveraging these platforms.

• Convert prospects: Fifty-percent of advisors claim they successfully used social media to convert a prospective into a client.
• Increase exposure: Blogging, tweeting and posting can increase you search engine rating and funnel people to your website.
• Develop trust: Trust is important. These platforms open up new avenues for relationship enhancing conversations.
• More presence: Social media gives you additional platforms to sell your services beyond your website.
• Show expertise: Different public platforms allow you to share your knowledge and expertise in a field and establish thought leadership.
• Stay current: Social media allows you to stay on top of industry trends.
• Connect with professionals: Social media is a great way to network. You can even establish a mastermind group to share ideas and strategies.

The Big Four

There are many social media sites in existence these days. Knowing where to start can be overwhelming. The big four are Facebook, Twitter, LinkedIn and YouTube. These are the only platforms you need to worry about. Each network is unique and should be leveraged for a specific purpose. By leveraging these platforms, you are likely to reach many different types of potential clients. LinkedIn should serve as a way to increase your referral network and connect with other professionals. Use Facebook to build your brand and enhance client relationships. Twitter is where you establish your firm as a thought leader and where you stay on top of news and trends. YouTube is a great way to use education as marketing.

LinkedIn

LinkedIn is unique in that it caters to professionals. It is the most popular among financial professionals. It is a great place to stay in touch with colleagues and share industry knowledge. Since prospective clients might view your LinkedIn profile to establish creditability, make sure you utilize the space dedicated to displaying certifications. Don’t let your profile fall by the wayside. If your profile is not up-to-date it looks unprofessional. The more connections you have the more opportunities available to leverage. This is important, but don’t get carried away and try to associate with everyone. Make intentional and meaningful connections. It is these associations that will reap the most benefits. Join some groups that you are willing to stay active in.

Facebook

This platform is probably the most well-known. You can actually create a business page that allows you to promote your services, increase brand awareness and provide customer service. These also allow you to separate your business and personal accounts. Make sure all your photos and banners are consistent with your brand. Post engaging and helpful content written by you and other reliable sources. Mix up your content so it remains engaging and relevant.

Twitter

Twitter limits you to 140 character posts. Microblogging can be powerful if used correctly. It is a great way to connect and engage in ongoing conversations. Learn to use hashtags appropriately and effectively. Excessive use of hashtags can degrade your content, so use them sparingly and only when relevant. Use the @ symbol to bring others into the conversation. These are called mentions and are a great way to increase engagement and encourage meaningful conversation. Use your 140 characters wisely and don’t be afraid to retweet news sources and posts by other professionals to increase your credibility.

YouTube

YouTube is the unsung hero of social media. It is unique in that it incorporates many characteristics of other social media sites, but its functions extend beyond typical platforms. YouTube acts as a search engine almost as powerful as Google. It is a great platform for educating clients about your firm and financial topics. Give some information away for free. It is a great way to gain credibility. Videos can be more effective than text-based media, as they can better capture users’ attention. When leveraged properly, YouTube is a powerful marketing platform.