Top 5 Mistakes Financial Advisors Make In Social Media:
HOW TO AVOID THEM TO CREATE A SAVVY SOCIAL MEDIA PRESENCE
In today’s world, we know that if you do not have a presence on social media and Google, then you really don’t exist. People are moving away from checking the yellow pages and instead turning to Siri or to “Google It.” So how do you stay “top of mind” to folks who are living in the fast line of technology, instant information downloads and social media without making some of the biggest mistakes in the process? Here are 5 common mistakes financial advisors make on social media and ways to avoid them.
1) Jumping into social media without a plan
Don’t just post on social sites to have posts on those sites. Craft a comprehensive plan answering questions, such as:
- What are my goals?
- What channels should I be on?
- How am I going to measure success?
- Who/What/Why am I on social?
Jumping into the social media world without a plan is going on a road trip to Texas with a map of Canada! Already embarking on the trip? No worries, take a step back and re-evaluate what you are doing right now, what is and is not working? What are you hoping to accomplish, to raise brand awareness, recruit clients or position yourself as an expert in your field? Just like working with your financial planning clients, identifying and clarifying your goals is the essential starting point for social media success.
2) Assuming a presence on all channels is great
Not all social media platforms are the same. Gain an understanding of who is on the platform before joining. Just because there is a place to post content, doesn’t mean you have to. If you are targeting retirees, Instagram might not be the best place to post a Medicare Enrollment post as the population is geared towards teenagers and mid- individuals in their twenties. If you are wanting to build business connections with strategic partners or potential clients, reaching out on LinkedIn is likely a better choice than Instagram. Start with one channel and move towards others as you gain more confidence, and your online voice becomes clearer. Below is a breakdown of some social media platforms and average ages.
3) Moving too fast
Social media, especially Twitter, moves at light speed, and there is the temptation that you must move as fast. However, slow down and be careful as to what you post and how you post. A well-crafted post can go viral; however, a poorly written, politically charged, or otherwise opinionated post can also go viral in a negative way. Before you post, take a step back, review for the obvious spelling and grammar errors, but also use the grandma test. Would you want your grandma to read what you just posted? If not, chances are it is not something you want to be a reflection of your business brand either. Remember nothing is “deleted” from social media. Make sure what you are posting aligns with your brand image, morals and values.
4) Being a used car salesmen
No one likes a “used car salesmen,” and people especially don’t like that on their social media feeds. Individuals on social media want to be entertained, are looking for solutions, craving education and want to have engagement. Social media is designed to be just that—social, a two-way conversation. Having frequent sales pitches will cause your followers to unfollow you. Instead, engage with your followers, ask their opinions, seek feedback and respond to comments they post on your platforms to the fullest extent that you are able within your compliance limitations. Post educational articles, create original content about subject matters you see in your business. Do your clients ask similar questions or have similar concerns? Create content and posts to answer those questions, or discuss current, relevant topics in the media. Posts discussing possible changes to 401(k)s and tax law reform are a few current examples of topics of interest. Create a presence where people look to you as the expert and thought leader and forget about asking Siri or “Googling it.”
5) Not using visuals
According to a research study conducted by Software Advice and Adobe, content with visuals get 94% more total views than plain text posts. Don’t be afraid to include a relevant picture with your posting or even a video. Smartphones have made it super easy to post short videos directly on your feed. People love to see people. Create a short video talking about a popular topic in your financial practice to provide education to your followers. If videos are not your thing, mix up the types of pictures you post from people to landscapes to infographics. There are many free sites of stock photos to use, such as Pixelx and StackSnap.
Social media is constantly changing and evolving, and it is imperative that you stay in touch with the changes. Being seen in today’s business world is harder than before. Having a strong social media presence and a clear plan targeting the right platforms will ensure you stay on top of people’s minds.
If you need guidance in showcasing your financial expertise with social media and becoming a social media powerhouse, contact AdvisorPR at (866) 888-5333 or email us at Info@advisorpr.com.