As social media continues to outpace traditional methods of client interaction, it’s important that independent financial advisors recognize what social media platforms offer in offline business, such as events, workshops, etc.
Many, if not most, independent investment advisors agree the top two ways to grow business is through referrals – passive and active referrals from clients, as well as those from industry associates – and events. WealthManagement.com’s 2014 Advisor Benchmarking Trend Report, “Marketing and Client Relations: Practice Management Trends,” shows referrals were high up on the list of effective methods to grow one’s business, with social media being further down the list. However, the report did indicate social media has become increasingly important for advisors looking to market themselves to new clients.
In 2014, it was the first time that more than half of advisors surveyed reported using social media as part of their professional communications. This is a jump from the 41 percent reported in 2013 and represents a significant change from 2011, when only 16 percent of registered investment advisors were using social media platforms like LinkedIn, Facebook and Twitter.
For independent financial advisors who want to leverage social media, there’s plenty of room for creativity. Blogs, online searches and webinars offer advantages. Many advisors are finding they can help their business without talking business. Many have found they can attract potential clients to come to their event through various social media platforms.
Build Buzz with Twitter Chats. Use Twitter chats leading up to your event to get people talking about key topics that will be featured. This will help spark interest and will give you valuable insight into the parts of your event that people are getting most excited about, by providing your followers with an opportunity to Tweet about what they’re hoping to see, do and learn at the event.
Online Q&A Prior to the Event. An active Q&A shared on social media with a speaker attending your event can help boost awareness and build excitement. Successful Q&As can be hosted using a Twitter hashtag, a Reddit AMA or using a Facebook post. Your guest doesn’t have to answer every question that’s submitted, but they should stay active during the session.
LinkedIn: Each time you host an event open to the public, consider posting the event as a status update. You can repeat this every day or every other day, until your event happens. That way, people scrolling through their newsfeed can learn about your event and register to attend. Here’s a sample: “Frustrated with college savings plans and not sure how to get started? Register for our upcoming work shop in Philadelphia to get prepared [Link].” Don’t forget to ensure everyone in your firm is promoting your event.
Also, send a message to those you want to attend your event by sending InMail message invites. You can also use the Advanced Search feature at the top of the page to find new prospects in your area to attend the event and you can post registration information in targeted LinkedIn groups.
Facebook: You can use Facebook to directly reach those who are following you and expand your reach via targeted advertising for as little as $5. One of the biggest advantages to advertising on Facebook is your ability to target specific groups of highly engaged people. In fact, narrowly targeted campaigns have an average online reach of 38 percent, while Facebook’s accuracy is at 89 percent. As an advertiser, you can refine your ad’s target audience based on content people are sharing about themselves, and their interests.
As the date approaches, you will want to write posts on your firm’s Facebook page that promotes the event. Don’t be afraid to ask clients, colleagues and prospects to share your event or to invite their friends to attend.
Use Testimonials. To help sell future events, get attendees from your event to share what they like about it. These quotes can be turned into videos and blogs, which can be promoted on your social platform.
Encouraging people to attend your event can be tricky and the goal is not to simply fill seats. You want to target the right prospects that may turn into clients. Following these tips can help you achieve that.
Summit Brokerage Services is part of Cetera Financial Group, RCS Capital Corporation’s (NYSE: RCAP) retail investment advice platform.
This blog and website are for informational, educational and discussion purposes only, and the owner of this blog makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. Summit Brokerage Services, Inc., Summit Financial Group Inc., and any of their affiliated entities and principals are not a law firms or an accounting firms, or substitutes for an attorney or accountant. Although topics may be discussed on this blog that may involve legal, accounting, or investment issues, nothing on this blog shall be deemed to constitute the practice of law, legal advice, investment advice, and/or tax advice. Summit Brokerage Services, Inc., and its affiliates do not, and cannot provide any kind of advice, explanation, opinion, or recommendation about possible legal rights, remedies, defenses, options, selection of forms or strategies. The content on this blog is “as is” and carries no warranties. You should consult an experienced professional regarding tax consequences of specific transactions.
No reader should act in reliance on anything discussed in this blog without prior consultation with a licensed professional who is qualified to evaluate the reader’s individual facts and circumstances and offer an informed professional opinion with respect thereto. If any reader takes action or makes decisions based solely on the information on this blog without prior consultation with a qualified, licensed professional, the reader does so at his or her own risk and agrees that Summit shall have no liability resulting from such unilateral action or decisions by the reader.
Summit makes every effort to provide accurate and truthful information in its posts on this blog, but in no way expressly or impliedly warrants or guarantees the accuracy of its postings and/or the information posted here by others. All information is believed to be from reliable sources, however we make no representation as to its completeness or accuracy.