There is no denying it – social media is here to stay. Many advisors thought it might be a passing fad but the giant platforms like Facebook, LinkedIn, and Twitter don’t seem to be going anywhere.
Starting a social media plan can be daunting but not insurmountable. A few things to consider:
- Which platforms should you use?
- How will you use social media-for communication? Research? Prospecting?
- How will you handle compliance?
- Does your firm have it’s own rules and guidelines for social media use?
According to Investopedia, 48% of advisors are relying on social media to interact with their investors, 74% say they’ve used social media to grow assets under management, and 50% report using social media to turn prospects into clients.
We’re living in a digital society and individuals are relying more and more on digital resources in their daily lives. Consumers turn to the internet to do their research first on products and services. Advisors can use social media platforms to communicate with investors and build that relationship. Develop content that provides information, advice and tips to your investors. Share content on a regular basis and establish yourself as a thought leader and partner.
Learn more about recent research, and consider ways to get started in your social media marketing.
For more tips, check out A Guide to Social Media: Tips for Asset Managers.