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Financial Advisor Social Media Case Study by Socialware


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Socialware published a case study involving a Wired Advisor client on how he is utilizing social media and blogging in his practice to enhance the client experience and expand his visibility.

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Financial Advisor Social Media Case Study by Socialware

  1. 1.   Investment Advisor Tom Froehlich Uses Compliant Social Media Marketing to Grow Book of Business Consistent Social Media Efforts Bring New Clients and Thousands in Annual Revenue for American Portfolios RIA “It’s very hard to put a number on the monetary value for the exposure, notoriety, and credibility I’m building due to my social networking efforts. I continue to forge new contacts and relationships. Every new relationship can compound into many more and eventually become revenue and earnings.” Tom Froehlich, CEO and Founder Froehlich Financial Group and American Executive Benefits, Inc. Froehlich’s Challenge: Continue to Grow an Established Business With more than 25 years’ experience in financial services, investment advisor Tom Froehlich is no stranger to developing new business relationships. Through his two firms, he advises professionals and business owners on wealth management and executive benefit plans. Like every successful entrepreneur, he is always on the lookout for his next great client. Froehlich now uses social media as a key channel for business development. By working with marketing firm Wired Advisor to develop his use of blogs, Facebook, Twitter, and LinkedIn, he shares his financial expertise with current and prospective clients. By using Socialware, he is able to do so while maintaining full regulatory compliance. Finding New Opportunities with Existing Contacts In one instance, social media broke the ice with a business owner in Froehlich’s community whom he had known for many Investment advisor Tom Froehlich, working with Stephanie Sammons of years. The business owner, who Wired Advisor, builds his credibility through regular blog posts, had never talked with Froehlich encouraging sharing through LinkedIn, Facebook, and Twitter. about finances before, approached him after reading a post on deferred compensation plans. Froehlich subsequently started such a plan for the business owner. Froehlich also used Facebook to connect with a high school friend he had not seen in 30 years. The friend read his articles posted to Facebook and then moved a large investment portfolio to his firm. – 512-329-8880 –
  2. 2. Driving New Business viaSocial Media ConnectionsFroehlich credits his success insocial media to the steadiness ofhis activities. “The mostimportant thing I’ve learned,” hesays, “is that I have to remainconsistent, just as in anymarketing campaign.”He now has more than 700LinkedIn contacts, which allowshim to show up in many moresearches since his second- andthird-degree connections aregrowing exponentially as well.He can also see that many morepeople are viewing his LinkedInprofile, which includes links tohis most recent blog posts.His LinkedIn involvement hasbrought Froehlich business frombeyond his circle of connections.In one case, a blog post that heshared in a LinkedIn group forCFOs brought a query from afinancial services executive—which led the executive tocontact Froehlich for guidanceon a compensation plan.In another example of socialmedia’s impact on businessdevelopment, a young doctorwho had moved to Froehlich’sarea called him after searchingonline for a financial plannerin the area. The physician wasimpressed by how much he wasable to learn about Froehlich’sbusiness, expertise, and Froehlich’s presence on LinkedIn, Twitter, and Facebook, refined throughcredentials. coaching by Wired Advisor, allows him to find old connections and make new ones as he shares unique content.Real Results from Social MediaFroehlich estimates that the new business he has already generated via social media will brings tens ofthousands of dollars of additional annual revenue for his firms—not counting future business or referralsstemming from those clients. The results did not come overnight, and required Froehlich to makeconsistent effort to make or renew connections and share his expertise.Yet these activities are also far more scalable and trackable than traditional marketing efforts, allowingfinancial professionals like Froehlich to reap new rewards from their efforts for a long time to come. “Social media requires investment in terms of time and the tools to do it right. But it has let me rekindle relationships with people I haven’t spoken to in over 30 years—and truly differentiate myself with new connections, too. Social media is making a real difference in my business.” Tom Froehlich – 512-329-8880 –