Which social media platforms do you recommend for financial professionals?
I am beginning work with a client who is in the financial industry. He is leary of using social media platforms beyond LinkedIn to promote his business; however, as someone who wants to increase inquiries and referrals amongst the professional and consumer communities, I've encouraged him to consider at least one "non-professional" platform on a trial basis. I have suggested a couple of additional platforms to consider, beyond LinkedIn, to help him extend his reach in the digital realm, with these audiences. I'd love to hear what suggestions other folks have pertaining to platforms they'd suggest to this client, and why. Thanks for your insights!
I think to be more specific social media strategy cannot be one for all. It totally depends on following factor:
- main objective of social media activities - branding, ORM, leads, traffic etc.
- are they ready to spend - twitter/fb/LinkedIn ads
Hi Jessica. I think it is important to suggest the right social media platform based on the target market for your client. If the client is looking to the consumer market, then facebook is a good option. As David Bentley points out, you are building a community of followers who will engage with your client if there is content and knowledge that will be of benefit to the consumer. For the professional community, LinkedIn is best. Your client could consider joining and contributing to LinkedIn groups or starting a group of benefit to the target market. Also, don't for get the mosaicHUB portal is also social media and could also help your client. Whatever platforms your client considers, they must be consistent in building content and engagement.
It depends on a number of things...What type of financial services, who is his target market, what are you trying to achieve, how much time is he willing to invest, how large of a customer base does he have??? Depending on the answers, the popular option, Facebook, may not be a good fit.
As someone who wants to increase inquiries and referrals...you can't beat video marketing with YouTube in getting found fast and bringing in qualified prospects. Also, never underestimate the power of good customer reviews, which Google+ is a good resource, particularly if his business is more locally based.
Hi Jessica, nice to meet you! I`d like to recommend you a really great platform for your client. After looking to many, many platforms I got something different in the market I met www.brandmanic.com. They're specialist in Advocate Marketing. Do you know what is it? Well, Brandmanic select the best influencers depending on the market, products or services, all over the World. And then, they customized the campaning for your client. So far I'm now working with them, and I trust this platform.
I'd be very please to give you more details or make and appointment.
Have a nice day!
Linkedin even though because its the Business connector for SM, but you must have a good profile. Next twitter because its instant and you can initially follow the minds of the businesses and sectors you want to connect and communicate with.Same here with twitter make sure your profile describes what you do, picture background etc.
This is something my company helps companies with every day. It is important to know what services he wants to promote. The financial industry can cover a whole host of areas that can be for individuals or even businesses. All the social media sites are good depending upon the content that you post to those sites.
It is also important to know what your clients competition is doing so you can reverse engineer those practices, etc for them.
To get all the content out to all the social media sites it take a lot of time. Take a look at Pixxfly.com This is an outbound content management program that saves that time.
It depends where you have the best base following and where and how you can best communicate with (potential) customers.
Twitter I find elusive compared to Facebook where you can have a page. And LinkedIn is of course very good.
In the end, whatever platform you use, somehow you have to try to get them to click on a link to your web-site where you can provide all the information they may be looking for, and get them to sign up so you have their email for future communications.
Facebook is definitely helpful in this scenario. The reason is - Target market for this service is present on Facebook . Twitter will equally work better if you could use bio search and target people based on their occupation/job profiles etc. Google Plus communities are also helpful as I have done some activity for one of my client from home loan industry and it gave us good results. The key to success in finance segment in social media is to educate users and solve their queries with appropriate solution.
Jessica Federman, Linkedin is the best platform for professionals. But don't ignore other social media platform specially Facebook. Increase your Linkedin connections and groups. Start publications on Linkedin. And share in your groups.
I think twitter could be useful and would be able to connect to other professionals but also he could post things for his followers.
Professional services will always be sceptical about social media. My comment is derived from an extensive experience with clients in the Oil & Gas and Financial industries.
If you were to play it safe I would recommend you invest in Linkedin Career page. This will generate an excellent exposure among Linkedin users. Try to accompany it by 2 slots for career adverts. By this you will be saving them a lot of money on using recruitment agencies. The HR will then have to do the filtration of the candidates.
Facebook is not a platform for professional services unless your client is heavily involved in charity or community work or in sporting events. Only then the Facebook can become a platform that you can use. Of course the exposure or the reach will be mass but still relevant since the showcased activities are related to the community.
If your client produce industry publications or weekly insights about the industry then this is something that you can use on twitter to showcase the knowledge and direct people o read these reports or to subscribe for that purpose.
Blog would be my third recommendation - in case they don't publish any materials the blog will become the engine and employ twitter for its purpose.
If you need to know more about measurements please let me know.
I think it really depends on what he is trying to achieve.
I consulted with a financial and wealth planner for a while and she had quite a following on LinkedIn, but it really wasn't amounting to much. I recommended that we give Facebook a shot.
Up to this point, she had always been fishing for those big clients and Facebook isn't the place to do that. Facebook is the place where people would come to ask her a financial related question and get an answer or pointed in the right direction.
We started by launching her Facebook campaign during business tax season and creating and linking to a bunch of useful information about business taxes. We then held a free morning workshop complete with doughnuts, coffee, and fresh fruit where people could come in and ask any questions they wanted. She had about 15 people show up. We asked them all to join the new facebook page and they did. When they got there, there was already great information. The shares started happening. Within a week we had 32 people (mostly business owners) following the page. We set a goal of 50 followers and then she would offer a free product - a 1 hour consulting session about anything financial. She got 14 sign ups the day she hit 50 followers. Most of those 14 sign ups were business owners...but more importantly - parents. They were asking about college funds, educational finances, etc. We then started incorporating information about saving for college, great investment funds for kids, etc. We hit a vein that really spread and within 2 weeks, another 40 or so parents started following.
The next step was monetizing. She started offering consulting at $125/hr. A small price to pay for someone looking to make the right financial decisions. She would often get someone through the door who would need to come back again the following week.
You get the picture.
I think it would be best to really sit down with the client and come up a way that their business model can apply to leads on social media. From there, identify who the initial target market will be and start going after them.
Set goals, be social, stand out.
Hope this helps. Let me know if you have any questions.
Another vote for Facebook with twitter close behind. Facebook wins out for me because the demographics of active users have been trending older over the last 18 months. The 30-54 demo has more disposable income than the 18-29.
He should consider Twitter. There are likely other professionals in his space there including influencers who he'd want to connect with. It's also a great place to discover others as well.
Depending on his target markets, Facebook might be a good next step as in addition to the setting up of a business page there, you might be able to sell him on targeted advertising through Facebook. You can target select age groups, industries, etc. Also adding an app to capture leads might be beneficial.
Hope that helps!