Social Media Guide for Financial Professionals

Marty Thompson is always discovering fantastic content when it comes to social business. If your company seeks professional consultation on developing your social efforts, I don’t know of a better consultant in the industry. In this infographic, the guidance is directed to financial professionals. Financial organizations often feel like their hands are tied due to regulatory compliance issues – it’s not the case at all. Financial professionals leveraging social media intelligently and having the processes and platforms to stay compliant are doing fantastic.

87% of advisors in the business for five years or less are using social media, while only 35% of those who have been practicing for more than 20 years are socially engaged. Whether you’re currently incorporating social media into your practice, working on a plan, or waiting a little longer, there are some definite dos and don’ts to consider.

Cogent Research

Incorporating social media into a financial professional’s practice can be a pivotal strategy in today’s digitally driven market. Here’s a comprehensive guide for financial professionals leveraging social media effectively.

1. Building Connections: Follow Your Followers

Social media thrives on mutual interaction. Following your followers can help establish a connection that goes beyond just business. It’s about networking, engaging, and cultivating trust.

2. Personal Engagement: Be Yourself

Transparency is key in social media. Sharing personal interests helps in humanizing your brand and makes you more approachable to your audience.

3. Showcasing Expertise: Share Valuable Information

Regularly sharing insights and demonstrating your knowledge can position you as a thought leader in your field. This includes sharing articles, research, and tips that align with your firm’s compliance guidelines.

4. Influential Networking: Engage with Leaders

Engaging with industry influencers by following their content and participating in discussions can increase your visibility and credibility.

5. Content Balance: The 1/3 Rule

Maintain a balanced approach to content: one-third promotion, one-third content curation, and one-third personal interaction. This helps in not overwhelming your audience with sales-driven content.

6. Prioritizing Social Media

Allocating a specific time daily to social media can ensure consistent engagement and help in building a robust online presence.

7. Integration into Marketing

Social media should be an integral part of your overall marketing strategy, not a standalone effort. Integrating it into your marketing plan can enhance your outreach and brand consistency.

8. Content Diversity: Mix It Up

Diversify your content with curated articles, blogs, personal insights, and visuals. Images, in particular, can increase engagement and shareability.

Social Media Facts To Think About

• Social media users with higher net worth are active on platforms like Twitter and LinkedIn, suggesting a targeted demographic for financial services.
• Over 60% of advisors using LinkedIn have reported gaining new clients, which underscores the platform’s potential for lead generation.

What to Avoid in Social Media Strategy:

• Ignoring Compliance: Always be aware of the compliance and regulatory requirements related to financial communications.
• Product Pushing: Avoid overt selling, which can be off-putting. Instead, focus on providing value.
• Passive Presence: Simply having an account is not enough. Active engagement is necessary to build a following.
• Infrequent Posting: Consistency is key. Infrequent updates can lead to a disengaged audience.
• Misdirected Targeting: Understand and target your content to the audience that will find it most beneficial.

By adhering to these principles, financial professionals can enhance their social media strategy, leading to new leads, strengthened client relationships, and a solidified brand presence. Start today by formulating a social media plan that truly impacts your business.