Bright talk webinar compliant financial social media for financial advisors! Is the cold call dead


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Compliant Social Media Strategies, Financial Professionals can use right now to get more qualified leads and appointments by leveraging social technology. Beginner, Intermediate, and Advanced Strategies

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  • Please Contact Rich LoPresti President and Founder of for any questions comments and inquiries. We are here to help enable Complaint Social Media for Regulated Industries
  • I am presenting to you today because I want you to take advantage of the amazing opportunity social technology has given us. This is just the beginning. As of a recent February 2012 study from Penton Media – 57% of Financial Professionals are using social media for their business and 43% are not. If you are in that 43%, not to worry you are in the right place. If you are among the Majority, I can help you become more efficient and effective.
  • The Biggest most Trusted survey of its kind from Penton Media tells us that….,. 74% of those who don’t use social media want to learn….
  • 76% of the advisors surveyed plan to grow their business by acquiring more lifetime clients through prospecting Aside from in person face to face meetings, Social is the best way to prospect. People are talking and telling you everything you need to know to make a solution based sale.
  • In todays webinar we are covering My “Phone” Broke Social Media Context “ Cold Call Dead or alive Social strategy Beginner Intermediate Advanced Please write down and save your questions for our Live Q & A at the end…If I don’ t get to your question email me, I ’ ll answer you….. MAKE SURE YOU STAY TO THE END because I am going to show you How to get two free bonus gifts of advanced compliant ideas and training for Linkedin…. . That I’m not going to be able to cover today….
  • SO WHAT IS IT? What is Social Media…..? For me Social Media = Real Life Communications. Social Networks = Access …. What you do with that access is up to you…… It’s that simple. You always had the access to communicate with whomever you wanted to, you just never had the SOCIAL IFRUSTRUCTURE Stop looking at Social Media as Individual networks…. Facebook, Linkedin, Twitter to me = the Infrastructure you use to Connect with prospects and allow them to begin to KNOW LIKE and TRUST YOU
  • I hate when people put classifications on the networks, sure they have their own etiquette… but the most important thing to realize is that…….
  • Social is Person to Person. Sure each network has its own etiquette, buy Forget the Network. The network is infrastructure for you to grow your clients and cultivate your prospects. Just as old media is used in combination, using social media cross platform, is very effective. Go where your prospects and clients are
  • -SOCIAL ISN”T A GOAL IN ITSELF, YOU HAVE ALWAYS BEEN SOCIAL Knocking on doors, picking up the phone, meeting face-to-face, sending and email, mailing a letter… you can’t replace the best features….of these modes of communication. -Communicate to your clients and prospects the way they want to be communicated to. Social Media does not replace all of the other modes of communication. As a Marksman-----It’s the last arrow in your quiver. You are now fully armed. -Leverage Social Media as you would a Business partner, and outside money manager or a good wholesaler -From a compliance standpoint, all the other modes of communication cannot be tracked for their effectiveness – you are always get compliant audits for traditional media, its always a challenge… through technology social media is the only medium that is fully traceable trackable searchable and measurable….. All the data communications are there.
  • Regulators are even getting social, and they are telling you via social networks on how to be compliant (since I don’t want to bore you with compliance, I am going to show you at the end of this webinar how to get a free copy of my Linkedin Compliance Matrix……..
  • Did this Tweet damage this financial institutions SOCIAL Reputation? If you let it, Compliance can take the Authenticity out of SOCIAL: THIS IS WHAT FEAR DOES. In this slide here are some recent tweets that show multiple advisors from the same firm tweeting the same tweet at the same time. Do you think they all speak to clients the same Exact way as well… I don’t think so… FOR COMPLIANCE SAKE…. Don’t take your personality out of Social. - This Tweet should have come from the Firms account and then ReTweeted by their reps… it’s more authentic, a confirmation from the rep on the material. HAVE NO FEAR: … THERE IS Technology that allows you to be you and be compliant at the same time… for big firms and small…. Actaince, radian6, socialware, hearsay social, arkovi, smarsh… email for a list if you’d like.
  • As an advisor, Social allows you to Differentiate yourself from the commodity that you sell… Do you answer your phone with your full NAME first or your FIRMS NAME? A 40 year old Merrill Broker told me once that he always answered the phone with his full name, one of his top clients referred a client to him and couldn’t remember the firm he worked for, but remember his name. How can you differentiate yourself? Use authenticity and encourage INDIVIDUAL compliant creativity… I am looking outside of the Financial Services field here , but Creative Artist  @GregBurney   here gives us an idea how…. ON TWITTER He vowed to sketch the first 3,000 new followers he gained. He started out with 70 followers, and by the end of the day, had attracted over 2,000. Today he has over 7,000 followers. Because of this awesome interaction showcasing his talent, Burney gained an 8,000% change in Twitter followers and possibly a few more people interested in his artistic work.  Independent advisors have the advantage ---- because big firms want to promote their BRAND, not the Individual Unique talented Reps they have representing them…… Get creative in your niche. What makes you you What makes you happiest?  Share it with others, people love good things?   Be the bearer of good news, and people will follow you!  I kid you not.
  • This begs the QUESTION…..? HOW CAN YOU USE CREATIVITY TO FIND NEW CLIENTS IN THE FINANCIAL SERVICES FIELD? Here are some ideas… Get Creative Engage – Don’t Sell Quality not Quantity Build Relationships Online and Off SOCIAL is SOCIAL Earlier this week Jeff Rose, an independent Advisor in Illonus did just that
  • Jeff has genuinely connected with his audience. He has added so much value into a simple concept within savings and investing, the “Roth” IRA that has been around since 1997.,, Vanguard and Fidelity jumped on his bandwagon… not for support but because they MISSED the HUGE OPPORTUNITY!
  • Got creative, and generated qualified lead flow… in addition His name will forever be synonomus with the ROTH IRA
  • As mentioned before…..Through social prospecting, I have found that the first call isn’t needed at all. On a consistent basis, I connected with my prospects through their social network of choice, usually, Facebook, Linkedin, Google+ or Twitter, or a combination thereof. The important part is that there is so much relevant public information out there that allows me to approach them more effectively. With my newfound knowledge, I craft my messages to take the OBJECTIONS out of the conversation. I can find out what type of personality they have and approach them accordingly. Through this method, I have been approaching higher-quality prospects and turning them into well-qualified appointments and valuable sales opportunities If you aren’t comfortable with that approach, JUST use the social web to find out more information about your prospect before you call them…
  • But… PLEASE PLEASE PLEASE,… LISTEN TO THIS POINT: While human communication remains the same…..Understand Communication Technology and the way in which we communicate is always evolving… The 1 st phone invented….? 1870 WHAT? Thomas A. Watson in 1876, sitting in the room, next to Watson, Bell uttered these famous first words, "Mr. Watson -- come here -- I want to see you." 1 st appointment made over the phone… I guess… In 1973 Martin Cooper made the 1 st Cell Phone call . He said “Giving people the freedom to communicate on their terms, the way they want to……”
  • Still don’t believe me? On the Course: Tiger Communicating to his Advisor about where he is going to put his winnings or…. Is he texting his Mistress? I don’t see him on his smartphone these days Again… You need to communicate with people the way they want to be communicated to.
  • The PHONE ISNT DEAD…….Social media isn’t replacing the phone entirely, but it could… we carry around a SINGLE communication device called the phone, but in most cases talking on the phone is the last thing we do…. On that PHONE… we communicate via, instant message (multiple channels) Skype text, push notifications, multiple email accounts, social network access to linkedin, facebook, twitter, google+ countless other networks, social gaming like Draw Everything, facetime…. oh and the voice call.
  • Overwhelmed with all of the social chaos? HERES what to do
  • How many of you have put your business card on a cork board a the drycleaners, or on the bulletin board at the library? You were putting yourself out there to be found. With very little effort you were able to gain exposure and build up your local presence. It works. Why stop there? Do you have a website selling for you?
  • Optimize your LINKEDIN PROFILE THE PROFILE IS IMPORTANT EXTREMELY IMPORTANT on LINKEDIN… Keywords are key and the social web is powerful. Setting up your profile on the networks with the key words of your niche, is how the social people are going to find you. To illustrate my point if you use “Financial Advisor” in your profile. Everyone in the entire world on social media who types in the words “Financial Advisor” in theory should be able to find you. This is true, and very powerful. But, the fact is every financial advisor is doing that, there are over 400k advisors using those keywords….so you need to get creative and differentiate yourself to get to the top of the search. Local social helps narrow things down a bit.
  • Keywords are key.. According to the Guardian, they see a VERY IMPORTANT TREND: TRADITIONAL SEARCH IS BEING OVERTAKEN BY SOCIAL SEARCH This means that the words you choose to describe what you do, what value you provide, what you can help a viewer in need accomplish is the most important thing you do on the Social Web. This is how people can find you. Also if they found you SOMEWHERE OUT THERE, on twitter, facebook, a blog, or if they were referred to you… this is the place they go to find more about you. More so than Facebook. --------------- YOU HAVE TWO KEY DISTINCT AUDIENCES: The ones searching for help. The ones searching for help because you found them and now they are doing their due diligence on you.
  • Don’t go overboard…..
  • After you create your profiles…. At the very least…. LISTEN. This one is very important…. Are you listening…. LISTEN. First thing you are taught in sales is Shut Up and Listen! You were born with two ears and one mouth, listen twice as much as you speak!!!!!!!
  • Want to grow your Social Network Online (and Off)? Look back to your 1st Connections, dust off and open up your Old Childhood Yearbooks, see what your old friends are up to! Connect with them online and set up a time to grab a cup off coffee with them offline.   Schoolmates, college buddies Fraternity Alumni Old Neighbors Friends who you have lost touch with This is your Linkedin Accelerator INTERESTING FACT IS THAT: You kids or grand kids in theory should be forever connected to everyone they ever meet. As long as they organize them correctly and keep some good simple notes, they will be able to leverage their contacts in the future
  • Circles of influence… this Old Practice is tried and True…. MODERNIZE IT!!!! Search for your centers of influences…. accountants, Estate Attorneys, talk to them… Here on search.twitter I found JUST ONE EXAMPLE Young CPAs are Hungry, They definitely know people…..They don’t have people to refer business to @LHARWARD Fresh Center of Influence Prospect that you can train from the start, as opposed to going after a 30 year accounting vet whose established 50 times over… To be even more effective…..GEO target them down to the States you’re registered in….. AMAZING TING IS EVERY TIME YOU DO THIS YOU’LL FIND SOMETHING DIFFERENT… THE CONVERSATIONS NEVER END
  • IF you’re not going to do it…. OTHERS WILL AND ARE…… Investment Pal, recently ran a blog post covering this natural phenomenon…. Also Influencers you meet on the street, at an event….. Bring them online…… Play the game!
  • Aside from the amazing information you will find out about your current book of business….. Meet Offline - Bring Online, Learn about them, Build a relationship, Give them something, Learn, and then offer your help. Longer process, but it’s worth it in the long run. ALSO LISTEN CLOSELY HERE… *** HERE is your Opportunity to Train and Educate your client on Social Media… take the time and show them the new way(s) you can communicate with them. They are eager to learn new things find out what all this SOCIAL MEDIA BUZZ is all about… EDUCATE and TRAIN… WANT PROOF? Ever been to a Library lately…. The social media courses they give are always packed with boomers and older generations wanting to LEARN… Educate them.
  • Can’t forget…… good ol referrals So SIMPLE but So EFFECTIVE. You see who they are connected to… Can you see how powerful that is… REFERRAL PITCH Overcome their OBJECTION with Social
  • Learn to Play……..
  • Everyone is connected…. Its happening ast Gary Vaynerchuck predicted we are going back to old town rules… where everyone knew everyone…
  • The butcher knows you, the cobbler knows you, the Baker knows you, the Financial Advisor knows you…. Here was a chritening for my niece conversation brought online.. People like to share… im talking about a 529… ive since connected with other expecting parents, and new parents that HAVE no Clue what a 529 is but know they need one… I hope that gets you excited…..UNLIMITED BUSINESS OPPORTUNITY
  • Cross Platform ---- Twitter Message stating the BIG FACT That half of her friends changed jobs…. Linkedin also send weekly status reports and as you can see here on the right, a year end RECAP…. Over 299 of my connections changed JOBS in 2011… Let the ROLLOVERS ROLL!!!!! MONEY IN MOTION Weekly Summary from Linkedin Yearly ALL THE Hard work has been done for you… 300 warm leads WOW… IF That doesn’t get you EXCITED, I don’t Know what will!!!
  • Advance Strategy….. Pre Approval Required… ON A SIDE Note…. You should .Also consider a Video for your Profile page
  • PAY CLOSE ATTENTION HERE: If you’re not looking at the slide, start looking…. MINT We want to talk to their TRIBE… Tech/Social Savvy and interested in keeping tabs on their Finances… I am sure that there are people FOLLOWING that can use your help, and want your help… MINT and TWITTERs infrustrucutre, found and organized them for you…. Now its up to you to craft a plan, to get them to start trusting you and FOLLOWING YOUR TRIBE
  • WE are going to use this site for our MINT example…. But NOTE: This site can also be used to search for LOCAL CENTERS OF INFLUENCE……………….
  • Spend five to ten minutes a day on this TRIBE (look for others and duplicate) Just a few ideas… engage all of Mint’s Local relevant followers in one to one conversation Jump into Mints conversation, ADD VALUE… it’s right on point…. Try building a relationship with MINT, by ADDING value to their feed…. (make a relevant infographic for their audience) Develop a Relationship and Guest Blog…. (Sites are always looking for GREAT IDEAS and CONTENT….. Test Measure
  • I am Bullish on Social Prospecting, Presenting Solutions and Follow-up to find clients, gain appointments, close business, capture more wallet share and retain the busionessssssss!
  • Get your free social media primers… you won’t regret it!!!!
  • Questions. We’ve been getting some great questions throughout the presentation that I’d like to address now Leave me emails on my site, twitter, etc.. On topics you’d like me to go more in-depth with, please let me know. Thank you for attending. As a big thank you, please rate the webinar and leave comments and suggestions for future webinars. I want to help you!
  • Bright talk webinar compliant financial social media for financial advisors! Is the cold call dead

    1. 1. 1 Presented by Rich LoPresti @RichLoPrestiHow Can I Help?Let’s Connect =)
    2. 2. 257% Using Social
    3. 3. 3Want to Learn
    4. 4. 4Prospecting to Grow
    5. 5. Todays Webinar 5My “Phone” BrokeSocial Media Context“Cold Call” Dead or AliveSocial Strategy Beginner Intermediate AdvancedQ & A FREE Resources
    6. 6. 6My Phone Literally Was Broken! I Turned Social…
    7. 7. 7 7 SOCIAL MEDIA = REAL LIFE communications SOCIAL NETWORKS = ACCESSFacebook, Linkedin, Twitter = Communication INFRASTRUCTURE
    8. 8. 8No Limitations…
    9. 9. 9Follow your Prospects… Social is Person to Person!
    10. 10. Modes of Communication 10Are these Activities Compliant?
    11. 11. Regulators are more Social than You? 11Social is a gift to COMPLIANCE!
    12. 12. 12 10 Don’t take your Personality out of Social!This message should have been Tweeted from Morgan Stanley and ReTweeted by the Reps
    13. 13. 13 12How canyou getCreative?
    14. 14. What one Advisor can Do? 14 Create… Major BUZZ
    15. 15. How’s about this….? 15 Spotted a ProblemDid something about it Jumping on the bandwagon
    16. 16. and this…. 16Got CreativeBottom Line = Good Story
    17. 17. 17Is “Cold Calling” Dead?
    18. 18. 1870 What…? 18
    19. 19. 19Communication has Changed…
    20. 20. 20No Need for “Cold Calls!”“Warm Calls!” “No Calls!”
    21. 21. Beginner: What to Do? 21 All Skills are Learnable
    22. 22. You Can’t Be Found 22 If You Aren’t There. Be There!
    23. 23. Make it Easier… 23 To be FOUND! Who You Are Who You Help How You Help Them
    24. 24. Personal Profile 24 Most Important Information about YOU!
    25. 25. Personal Profile 25 Most Important Information about YOU!
    26. 26. What Not to Do… 26
    27. 27. At the Very Least, LISTEN! 27 Pay ATTENTION!
    28. 28. 28Jump Start… Your Networking
    29. 29. MODERNIZE Your Circles of Influence 29 8000 Aspiring CPAs BUSINESS Referral Source
    30. 30. 30LeverageSocial =LeveragePeople
    31. 31. More Relevant… Your 31Existing Book of Business Bring Online New “Subtle” Approach to Referrals
    32. 32. Good Ol’ Referrals... 32 I can’t think of anyone to refer to you…What about Mr. Jones?…
    33. 33. Intermediate: Learn to Play! 33
    34. 34. 34 Break Down “Friends”… “Old Town” RulesTo Family (who you care about)…
    35. 35. Watch “Friends”… 35 For Streaming “Real-Time” Life Events…
    36. 36. Break Down “Public Conversations”… 36 1,000,000,000 Proud To Subjects (in your niche)…
    37. 37. Closing Down Business? 37
    38. 38. Money in Motion… 38Real time Relevant Information
    39. 39. ADVANCED: Target Your Niche 39 Why do you do what you do? Who can you help the most How can you help them How are you helping others like them?6. Search for Doctor’s in the area – Connect with them on Linkedin7. Speed up the Process by Buying a List of “Doctors” – Upload and Connect with them8. Create a Video – Outlining the above9. Develop a “Landing Page” to send them to.10.Invite them to a “local event” or “webinar” specific to them11.Send out a tailored message12.Host the event13.Close down the business
    40. 40. See Who Is Influential… 40
    41. 41. 41186,820 Followers! WOW!
    42. 42. 42Followerwonk
    43. 43. MINT: List of Followers 43 UNPRECEDENTED Amounts of Actionable Information
    44. 44. Develop A Campaign 44 Jump in the Conversation Guest Blog for Mint
    45. 45. Bullish on Social Media – 45 Don’t Get Left Behind!
    46. 46. FREE Gifts For Watching 46Go to
    47. 47. Go To: 47RecommendedAdvisor.comGo to
    48. 48. Go To:
    49. 49. 49Let’s Do some Q & A: Shall
    50. 50. 50