Is social media really worthwhile? This is one of the questions I get asked the most by financial advisers. And I understand why.
Being active on social media channels can seem like a daunting prospect with too many potential pitfalls to make it worth the time and energy. Love him or hate him, David Cameron was right when he said “Too many tweets might make a twat”.
But it you look at it as a key part of your marketing activity, then social media starts to make sense. It offers four main benefits:
- Credibility – it makes your business seem relevant and up-to-date
- Networking – it helps to develop connections in a less formal way
- Lead generation – it helps drive people to your website where you can nurture them into prospects
- Search engine optimisation – it helps to improve your website’s ranking on Google
It’s also free.
But if you want to use it as a way of marketing your business, then you need to approach it strategically.
A Twitter account with one lonely Happy Christmas tweet from 2018 and 3 followers is not a great look.
However, a bustling social media channel full of lots of regular, helpful, engaging posts that show your expertise, your approachability, and your brand personality is an important piece of your marketing puzzle. So let’s begin.
Choose your channel
There are lots to choose from, but before you do, you need to carefully think about where your ideal client ‘hangs out’ on social, and go where they are.
Instagram, which is mainly used by younger people, is going to be a waste of energy if your clients are mostly 50+. The same goes for channels such as Snapchat and Ticktock (which apparently even today’s Millennials are too old for).
A general rule of thumb is that Facebook and LinkedIn are the places to be. Facebook because it’s loved by the older generation – its usage has grown the fastest among ‘silver surfers’. LinkedIn is especially good if your target clients are professionals approaching retirement, business owners or consultants for example.
Twitter is more of a platform for thought leadership, which is great if you want to discuss topics with others. You can connect to anyone, ask questions, debate the issues, and get ‘known’ for having a certain standpoint. But it’s less likely that you’ll engage with clients here, unless they’re also particularly passionate about the debate between active and passive for example.
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