Notes for:
Using Social Media
Effectively
for Finance Professionals
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Why use social media?
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*Lucky people+ “spot & seize upon openings that
other people simply miss. They also tend to be
more social and maintain what [Psychologist
Richard Wiseman] calls a "network of luck."
Most of us know around 300 people on a first-
name basis. According to Wiseman, that means
you're only two handshakes away from 90,000
people who could bring chance opportunities
into your life.”
“What it takes to survive” by Ben Sherwood for Newsweek
http://www.newsweek.com/id/181290/output/print
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Quotes:
Chris Lemay, Mortgage Broker
(@chrislemay on Twitter)
“Twitter helps me reach an wider audience – forge
stronger relationships & keep me top of mind with
people I meet face to face”
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David Cesarini, Financial Marketing Specialist
(@dcesarini on Twitter)
“To keep in touch with people with common
interests and increase the size of your natural
market"
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“The first word in "social media" is social,
after all. It’s not social to stand on a street
corner preaching to anyone who will listen,
while not listening to or interacting with
anyone who does.”
“Social Media Mistakes Businesses Should Avoid” by Mark Riffey on Flathead
Beacon
http://www.flatheadbeacon.com/articles/article/social_media_mistakes_busines
ses_should_avoid/10556/
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You are Your Brand
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•as a Mortgage Broker or Financial advisor etc.
you are your brand
•Whether it be it in your blog, Twitter, Linkedin
etc. you likely want to showcase yourself as:
oan expert in your field - i.e. an authority
oresponsive to your clients (and potential
clients needs) - i.e. helpful & somewhat
approachable
oyourself... (but a professional you)
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Personality Sells
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“I’m not sure I want to be followed by my bank.”
This was the reaction of one of First Direct’s
customers when the online bank established a
Twitter account. But after the bank’s head of PR
Amanda Brown joined the conversation – as the
Twitterati like to say – the customer changed his
mind and tweeted that it was “kind of cool” for
the bank to be embracing social media.”
“Twittering with the customers” by Mark Frarry on the Times Online
http://business.timesonline.co.uk/tol/business/related_reports/business_solutio
ns/article6522822.ece
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Promote yourself
organically & infrequently
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•Use 90/10 rule
•Talk casually – don’t advertise
•Put forth things people may not know (e.g. First
Direct UK bank brings light to “extra curricular
activities” such as their charity support
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Promote others
frequently
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http://www.twitip.com/the-90-10-rule-for-successful-twitter-networking/
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•Builds a/your community
•People will want to help those who have helped
them
•Allows you to start Building relationships before
you need them
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Get Help
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•ask Questions - Twitter, Linkedin
•Build your contacts
•search for contacts - reconnect
•Find social networks specifically for your field
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Understanding Audience
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•Monitoring what is being said – not only about
your company but about your field/industry
(help you:
•respond to Customer Service issues (confusion,
complaints etc.)
•re: company - hone actions & tailor next steps
etc
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Play fair
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•attribute & acknowledge
•respond with respect
•if you’re not interested don’t follow (no
trying to “jack up your follower
numbers”)
•if you are interested, don’t unfollow
(just because they’re not following you)
•Be transparent
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Schedule time
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•Not a waste or fad
•Understand your goals – go in with clear idea
•Make social media a part of your life rather than
trying to fit it in (e.g. make twittering and
posting a natural extension of how you
communicate)
•You can’t do it all (perhaps pick 1 or 2 social
networks, schedule your soc med time or hire
someone - carefully)
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Ask yourself who you want the face of your
company to be - on social media.
"The intern trap" addresses interns being put in
charge of social media, but the concept is
something to consider in general.
Some don't quite understand: a person who
writes on your Twitter account or blog or other
becomes the voice of your company or
organization. As such, one must be mindful of
how passionate and loyal they are about the
company or cause. 25

Internal
Also for
communication
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•internal options (e.g.:
• private Blogs,
• private Wikis
•Google calendar (scheduling meetings)
•Google doc (for contact lists)
•“private Twitter” = yammer.com)
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Be Personal
But not too Personal
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Think of social media as: a networking at an
event or party.
•You let your hair down a bit, and meet people
and chat.
•Parties don’t always lead to a business deal that
evening, but nurturing the connections might
eventually bear fruit.
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A few Examples
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Find related Articles, Notes & Resources
http://delicious.com/mhamburg/vanfin
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