Social media for Financial Advisers


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Presentation given at the PIMS Forum held in May 2013 to financial advisers. Social media is a hot topic due to compliance and the new FCA. The presentation considers how financial advisers might integrate social media into their marketing strategy.

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Social media for Financial Advisers

  1. 1. Social Media Best Practicefor Financial AdvisersAmanda Brown BA MSc DICManaging DirectorAlterra Business Consulting Ltd
  2. 2. Session Outline• The State of Social Media in the UK• Social media management• Social media content• Q & A
  3. 3. The State of Social Media in the UK
  4. 4. The State of Social Media in the UK
  5. 5. LinkedIn members in and around London3.52 m – 50miles3.02 m – 35miles2.59 m – 25miles1.84 m10 miles
  6. 6. LinkedIn – optimise your profile
  7. 7. Optimise your Personal Profile• Know your Keywords• Edit your Profile• Build your connections• Answer questions• Gain recommendations• Be active
  8. 8. Advanced People Search
  9. 9. Company pages
  10. 10. Twitter• 1 billion tweets are posted per week• There are 200 million active Twitter accounts• Worldwide 25% of consumers now have a Twitter account• 38% of users tweet at least a few times a week10
  11. 11. TwitterThe main reasons people use Twitter:• Following celebrities (34%)• Keeping up-to-date with information (33%)• Connecting with friends (32%)• Connecting with new people (27%)• Expressing opinions and making their voices heard (27%)11
  12. 12. Social media management• Building a social media strategy with defined goals andmetrics• The advantages/disadvantages of in-house managementvs. outsourcing to specialists.
  13. 13. Marketing MediaOutbound - Push Inbound - AttractPrint ads Blogs, Ebooks, White papersTelevision ads Social mediaCold calling Search engine optimisationTrade shows WebinarsEmail marketing Feeds, RSS
  14. 14. Outbound MarketingPROS1. Reaches the masses2. Effectiveness can be measured3. Offers tried and tested resultsCONS1. Expensive2. Low conversion rates3. Harder to get prospects to listen4. Prospects turned off by interruption messages5. Prospects are less trustful6. Does not initiate or require engagement
  15. 15. Inbound MarketingPROS1. Inexpensive2. Handled by one person3. Reaches targeted customers4. Builds credibility and loyaltyCONS1. Time consuming2. Can be overwhelming3. Can be slow to produce results4. Learning curve can be long and confusing5. Can be difficult to measure the results
  16. 16. Components of inbound marketingContentBlogs, videos, articles,ebooksSocialMediaLinkedIn, Twitter,Facebook,YouTube, Forums,blogsSEOOn page, off page,page linking,keyword analysis
  17. 17. Social media strategyUse outbound activity to create inbound interestClientSalesprocessEducationprocessEmailsign upOutbound marketingInbound marketing
  18. 18. Social media strategy• Who is your audience?• Which platforms do they engage with?• What content do they read?• How frequently do they want to be informed?Tailor valuable messages to the right audience on the most appropriate platformon a timely basis
  19. 19. In-house v. OutsourcedTimeExpertiseAffinityCost effectiveControlComplianceCostly
  20. 20. Social Media Content
  21. 21. Remaining compliant• Ask questions• Comment on relevant news• Share your website• Support your team• Promote events• Avoid the obvious pitfalls
  22. 22. Thank you for listening – any questions?