Social media strategies for financial professionals
Social Networks forFinancial Professionals Presented by National Advisor Conferences 6 Nov 2012 – Vancouver 21 Nov 2012 – Toronto
Background• 2 decades of business experience• marketing/communications & tech/software• Life-licensed insurance producer• social media consultant & columnist
Overview• Social media: deﬁnition & demographics• Power of search• Strategic considerations• Tools and tactics• Overcoming barriers
Social Media is... A synthesis of new and traditional mediathat incorporates advertising, public relations, customer service, marketing, sales, and community relations. It’s disruptive. It’s about human sociology. It’s enabled by technology.
Once upon a time...our media choices were limited. + +
Today, our media options are virtually unlimited. And growing.
Driven by content social media comments articles feedback charts criticism pictures analysis videossharing/curation ads/creative discussion slide decks user created doodles
Search facts93 % of consumers worldwide that use search engines to ﬁnd and access websites. Source: Forrester Research75 % of search engine users who never scroll past the ﬁrst page of results. Source: Seventh WWW User Survey - Georgia Institute of Technology
The power of search• Eventually, everyone is “Googled”• Your website matters, but less• Social media engagement improves search engine positioning
People do business with people they know,like and trust.
Some things never change. Social mediachanges everything else.
Social media changes everything... All events happen in real time.
Social media changes everything... Marketing, public relations, branding and client support get all mixed up together.
Social media changes everything... It’s a dialogue, not a monologue.It’s a dialogue, not a monologue.
Social media changes everything... You have no control, only inﬂuence.
Social media changes everything... You cannot outsource your voice.
Social media changes everything... Attention is the most scarce commodity of all.
Social media changes everything... The time you spend is more precious than the money.
Social media changes everything... Personal brand is at least as important as corporate brand.
5 social media strategies➊ Build social capital➋ Curate great content➌ Be personal➍ Build trust and credibility➎ Strive for engagement
➊ Inﬂuence economy = Currency =Networked people Assets “Earned media” and content Social capital = Goodwill
➋ Curate content Find and shareremarkable content to add value and express your brand’s personality.
➌ Build a personal brandPersonal is professional. Relationships are grounded in personality.
Personal brand is whatpeople say about youwhen you leave the room. - Jeff Bezos, Founder, Amazon.com
➍ Build trust T = (C x R x I)/S Credibility X Reliability X Intimacy Trust = ___________________________________ Self-orientationSource:Brogan and Smith -Trust AgentsMaister, Galford and Green - The Trusted Advisor
Compliance• Listen, don’t talk• Focus on credibility, relationships and trust• Leave transactional “heavy lifting” to traditional channels (meetings, phone, corporate email)• Archive, archive, archive
Time• Re-evaluate all your time allocations• Leverage your support team to help you• Put in some “after hours” time• Outsource strategy and implementation support
Knowledge• Read books & blogs• Trial and error• Be an early adopter• Overcome your fear
firstname.lastname@example.org 780-868-8433 JayPalter.ca twitter.com/jaypalter www.linkedin.com/in/jaypalter Copyright 2012 Jay Palter. All rights reserved.Not for reproduction or distribution without written consent.
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