According to Putnam Investments’ 2016 Social Advisor survey, LinkedIn is the most popular social networking site, with 85% of advisors actively using it to prospect and build their client base. Used by 82% of advisors, Facebook comes in a close second, while Twitter is a not-so-distant third, capturing 73% of advisors’ social activity. Clearly, social media is catching on in a big way among the financial advisor community.
Here are five awesome reasons to use social media to help grow your business:
- It helps clients and prospects find you. Prospects who are looking for a financial advisor are doing their homework before picking up the phone to book an appointment. A recent study from LinkedIn and the Financial Planning Association found that more than half of investors aged 18-44 research an advisor online before reaching out to them. What’s more, 10% checked out the advisor’s social media profiles after meeting them in person, and more than two-fifths of prospects in this age range said that an advisor’s online presence was an “important” or “critical” influence when it came to deciding to hire the advisor or not. This is significant, because investors in this age range are more likely to be on social media.
- It helps you appear higher in the search engine rankings. Why is this important? We know potential clients are searching for advisors online, and they’re looking for critical information to ensure they get the right fit. So you need to be visible. By being active on social media, your name, photos and profiles show up first in the search results.
What’s more, social media profiles are considered “active” online properties, which rank higher in online search results than “static” ones. In other words, you might update your social media profiles (“active” properties) several times a day, whereas you might only update your website (a “static” property) weekly (if you’re blogging semi-regularly, for example), or even less frequently. So the more active you are on social media, the more likely prospective clients are to find you, which is good for your business.
- It adds a human element, which of course is key to building relationships. Prospects can view your photos and information about your education and background, as well as read any content you’ve posted. Essentially, they can get to know a lot about you before they ever talk to you on the phone or meet you face to face. By making a good impression online, you have the opportunity to help “sell” a prospect on you and your expertise before they even walk in the door. That’s one big advantage of being social.
- It’s an easy, efficient marketing tool. You can gain attention simply by sharing information that showcases your expertise and is helpful to your clients. Posting industry news, market updates and personal finance tips on your social profiles is a great way to capture your audience’s attention and get the word out about your services.
Plus, it’s free marketing. A good post can be shared multiple times, and all you have to do is share it once. For example, say you have 500 connections on LinkedIn, and each one shares your post with their 500 connections. With hardly any effort at all, you’ve reached 250,000 potential clients. Again, done right, social media can be a powerful marketing opportunity that requires minimal effort but yields amazing benefits.
- It makes you accessible. Being active on social media shows prospects you’re available, reachable and easy to do business with. That can make all the difference when it comes to a client’s decision to hire you.
So what are you waiting for? There’s no better time to be social.