Twitternomics 101 - Benefits of Twitter for Financial Advisors (NAPFA Fall Conference)


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A session on Twitter for financial advisors attending the 2013 NAPFA Fall Conference in Philadelphia. Plenty of resources and how-to's included in the deck.

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  • Thanks Tina. This is great. I understand being intimidated by the deluge of social media. Advisors need an easy to follow road map. This works!
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  • Here is a copy of the deck from last week's Twitternomics 101 - a talk I gave at the NAPFA Fall National Conference in Philly. Useful resources for financial advisors that one can apply to using Twitter for business.
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  • Reaction of starting a Twitter account. But wait Tina…our clients are not on Twitter?
  • 500 million Twitter users globally. 16% of all US Internet Users.
  • FINRA Regulatory Notice 10-06: Every firm that intends to communicate, or permit its associated persons to communicate, through social media sites must first ensure that it can retain records of those communications as required by Rules 17a-3 and 17a-4 under the Securities and Exchange Act of 1934 and NASD Rule 3110. FINRA does not endorse any particular product. What happens if a customer or third party posts content on a social media site established by the firm? As a general matter, FINRA does not treat posts by customers as the firm’s communication with the public under Rule 2210. However, you may wish to be proactive and manage your own online reputation. Google alerts are going away. You can use 1. Talkwalker or
  • Length. No spaces, no special characters. Don’t start with or use only numbers. Visit to view the top 40 hashtags on Twitter.
  • Single thread. Especially relevant for event organizers#SXSW.
  • Twitternomics 101 - Benefits of Twitter for Financial Advisors (NAPFA Fall Conference)

    1. 1. Twitter is a registered trademark of Twitter, Inc.
    2. 2. TWITTERNOMICS 101 AGENDA I. What is Twitter? II. Compliance – Brief Overview III. Twitter Basics I. II. III. IV. How to create an account Difference between following and followers Timeline overview & Tweet Deconstruction Hashtags IV. The Two Main Questions from Fee-Only Advisors I. II. How will Twitter help me get more business? How will Twitter get me more contact with clients? @TINACPOWELL 2
    3. 3. EXTRAS: RESOURCES & HOW TO’S How to Tweet How & why to use a URL shortener How to get followers Use of Twitter lists Tracking and measuring @TINACPOWELL 3
    4. 4. WHAT IS TWITTER? Online social networking site – March 21, 2006 500 m Twitter Users/200m active Enables registered users to post text messages limited to 140 characters Messages are called “tweets” Most messages link to content – an article, blog post, video, presentation Real-time, news breaks on Twitter before TV Source: @TINACPOWELL 4
    5. 5. ON TWITTER (PARTIAL LIST) Prospects Clients Centers of Influence Competitors Custodians Conferences & Events Associations & Organizations News Media Journalists Thought Leaders Universities Government Regulators Interests Causes @TINACPOWELL 5
    6. 6. PERCENTAGE OF INTERNET USERS The fastest growing demographic on Twitter is the 55-64 year age bracket. This demographic has grown 79% since 2012. Source: Pew Research Center’s Internet & American Life Project Post-Election Survey, November 14-December 09, 2012 @TINACPOWELL 6
    7. 7. COMPLIANCE – BRIEF OVERVIEW FINRA Regulatory Notice 10-06 (Jan. 2010) FINRA Regulatory Notice 11-39 (Aug. 2011) Compliance and counsel is a must. Recordkeeping is a must. Supervision of activities is a must. Basic social media policy is a must. NO recommendations of securities or specific investment products. NO endorsements. NO amateurs – only professionals with appropriate training on the firm’s policies and procedures. @TINACPOWELL 7
    9. 9. CREATE A TWITTER ACCOUNT Step by Step Instructions: @TINACPOWELL 9
    10. 10. @TINACPOWELL 10
    11. 11. @TINACPOWELL 11
    12. 12. FOLLOWING SOMEONE ON TWITTER MEANS You are subscribing to their Tweets as a follower. Their updates will appear on your Home tab. That person is able to send you a direct message. Example; I am following @NAPFA @BillWinterberg @skinnerliz @MichaelKitces @TINACPOWELL 12
    13. 13. FOLLOWERS ARE PEOPLE WHO RECEIVE YOUR TWEETS They’ll show up in your followers list They’ll see your tweets in their timeline You can send them direct messages Example; I am being followed by @NAPFA @feeonlyplanner @millardcfp @feeonlyadviser @TINACPOWELL 13
    16. 16. TWEET DECONSTRUCTION 1. Author 2. Message 5. Link 3. Mention 4. Hashtag @TINACPOWELL 16
    17. 17. REASONS TO USE HASHTAGS 1. Get found. 2. Help clarify subject. 3. Add personality. 4. More retweets. 5. Enhance engagement. What is a hashtag? A hashtag is identified by the # symbol, used within Twitter. They can be used anywhere within the 140 characters of a tweet and when the # symbol is placed in front of a word or phrase, it becomes a clickable term and if used widely enough they can actually become a popular trending concept. @TINACPOWELL 17
    18. 18. HASHTAG = #COLLEGESAVINGS This is what happens when you click the #collegesavings hasthag in the tweet. It delivers all of the results for tweets containing “#collegsavings”. They can be from anyone on Twitter, i.e. you don’t have to follow them or vice versa. @TINACPOWELL 18
    19. 19. THE 2 MAIN QUESTIONS FROM FEE-ONLY ADVISORS 1. How will Twitter help me get more business? 2. How will Twitter get me more contact with clients? @TINACPOWELL 19
    20. 20. ATTRACT (GET) MORE BUSINESS 1) Amplifies your message by adding another communications touchpoint 2) Expands your geography and reach 3) Builds your brand by demonstrating thought leadership 4) Gives you valuable insights on prospects – develop content that addresses key areas 5) Enables sharing easily and instantaneous @TINACPOWELL 20
    21. 21. ATTRACT (GET) MORE BUSINESS 6) Allows you to identify prospects, COI, media 7) Keeps you top of mind 8) Shows relevancy – millennial Social Agents 9) Builds your network Example: 10)Creates social agents @TINACPOWELL 21
    22. 22. ACCENTURE STUDY 2012: POSITIVE ASSESSMENT OF SOCIAL MEDIA Source: How Tech-Savvy Advisors Regain Gen D Investor Trust, March 13, 2013 @TINACPOWELL 22
    23. 23. MORE CONTACT WITH CLIENTS Provides you with valuable intelligence about your client  Life changes, travel, sport teams, etc. Enables a deeper connection  Add to Twitter data to CRM platform  Build a private list – peruse daily  Initiate a dialogue based on their post @TINACPOWELL 23
    24. 24. MORE CONTACT WITH CLIENTS Portability – “be in their back pocket”  Mobile penetration – mobile devices will outnumber people  3GSM World Congress 2013 – 72,000 participants/200 countries/4,300 CEOs* Source: @TINACPOWELL 24
    25. 25. @TINACPOWELL 25
    26. 26. HOW TO TWEET - DESKTOP New Tweet button Tweet box @TINACPOWELL 26
    27. 27. HOW TO TWEET - 8 STEPS 1. 2. 3. 4. 5. 6. 7. 8. Open Twitter Open Another Browser Tab/Window Select URL Copy URL Hit new Tweet button Begin typing Past URL in message Hit Tweet @TINACPOWELL 27
    29. 29. URL SHORTENERS: TINYURL.COM From 85 characters to 26! You save 59 characters. Remember only 140 characters allowed in Tweets. Original link of webpage: em.asp?CONFERENCE_ID=135&SESSION_ID= 4881 After: @TINACPOWELL 29
    30. 30. HOW TO GET FOLLOWERS? Basic Advanced Show your face Use hashtags Add a bio Add Twitter icon to your website Tweet often Tweet good content Add ShareThis to blog posts Follows other like you Tweet at live events @TINACPOWELL 30
    31. 31. SUBSCRIBE TO TWITTER LISTS 1. Visit profile 2. Click lists 3. Click on the list name to view list 4. Hit subscribe Lists are great filters! They can be private or public. You need not have to follow each account. Once you subscribe, they will show up in your own lists. @TINACPOWELL 31
    32. 32. TWITTER ANALYTICS – 2 SOURCES Sign in to Twitter Analytics using your Twitter username or email address. Click “Analytics” to see Timeline Activity Download CSV Sort Tweets by Best – Good – All Robust, detailed and visual analytics @TINACPOWELL 32
    33. 33. @TINACPOWELL 33
    34. 34. @TINACPOWELL 34
    35. 35. SOURCES Name Description Link Function The Demographics of Social Media Users - 2012 Pew Research Center’s Internet and American Life Project /Files/Reports/2013/PIP_Soci alMediaUsers.pdf Research FINRA Guidance on Blogs Regulatory Notice and Social Networking 10-06 Web Sites ps/industry/@ip/@reg/@notic e/documents/notices/p120779 .pdf Compliance FINRA Social Media Websites Regulatory Notice and the Use of 11-39 Personal Devices for Business Communications ps/industry/@ip/@reg/@notic e/documents/notices/p124186 .pdf Compliance Talkwalker Alerts Free and easy social media online monitoring tool Reputation Managemen t Signing Up With Twitter Step by step instructions for creating an account. Twitter cles/100990-signing-up-with@TINACPOWELL twitter 35
    36. 36. SOURCES Name Description Link Function Twitter 101 Guide to getting started with Twitter cles/215585-twitter-101-howshould-i-get-started-usingtwitter Twitter Free site which organizes the world’s hashtags. Shows the top 40 trending topics UP, DOWN, and CONSTANT on Twitter. Hashtags Tiny URL A free URL shortening service that provides short aliases for redirection of long URLs. URLs Twitter Analytics Twitter’s own analytics tool. Downloads to CSV . Twitter Analytics @TINACPOWELL 36
    37. 37. SOURCES Name Description Link Function Twitonomy Twitonomy offers detailed, visualized analytics on your Twitter account or someone else’s account Twitter Analytics How TechSavvy Advisors Regain Gen D Investor Trust In 2012, Accenture conducted an online survey of 400 US financial advisors to better understand how Gen D advisor profiles correspond to the investor segment. Research @TINACPOWELL 37
    38. 38. SESSION SUMMARY InvestmentNews write up by Liz Skinner @skinnerliz http://www.investment 1009/FREE/131009892 @TINACPOWELL 38
    39. 39. @TINACPOWELL 39