3. Thinking About Social Media The Wrong Way
For many, social media feels like a time sink that’s not worth the investment.
But that’s far from the case—according to Putnam Investments, social media initiatives resulted in $4.9 million of assets under management for the average advisor—far from a waste of time.
The problem often lies in how advisors make use of this medium—social is not for an immediate return on investment. It’s a long-term investment, and advisors who use it well see it as a brand-building opportunity.
It’s a chance to show what makes your firm different from others through your personality, content and opinions.
What to do:
Interact with other users: Social media is a conversation—so be sure to engage with the content of other users. Comment, like and share what you find interesting, and tag other users. A good rule of thumb is to engage with at least three posts for every one of your own. This will help your own posts be seen by more people.
Write posts with engagement in mind: You have to increase engagement, which determines the success of your post and increases your reach by appealing to the algorithm and users alike. To increase engagement, make posts skimmable, ask questions, provide context and avoid being “salesy.”
Post often: Consistency is necessary for strong social media performance. Take the time to develop a posting strategy to keep your channels active.
If time is still an issue, then consider focusing your social media efforts on one channel—for example, LinkedIn.
Not only is LinkedIn the most professional network. It’s also the most powerful social channel for lead generation, according to HubSpot—surpassing both Facebook and Twitter combined:
4. Not Claiming Your Listing on ‘Google My Business’
Note: Most firms are not (yet) jumping into the new world of advisor marketing created by the Securities and Exchange Commission’s marketing rule, which allows advisors to use testimonials and reviews. (It’s important to note—always check with your compliance team before implementing any new marketing strategy.)
What to do even if you’re not ready:
Start by claiming your listing—go to the Google My Business site, type in your business name and click on “claim my business.” Then optimize it by filling out all the relevant information on your dashboard, alongside social media links, a logo, team images and a description of your business. Your listing is likely the first or one of the first things in your organic search results. Clients and prospects will reference it for directions and a brief overview and to check out the pictures, etc. Claim it.
5. Not Finding Time To Blog
Blogs can provide a dramatic boost to your return on investment for a few reasons. First, they provide an ongoing source of content to use in other communications (remember how we talked about email?) which saves you time and effort. Second, they’re a powerful way to improve your site’s search engine optimization, or SEO, and improve organic traffic.
Marketers that prioritize blogging are 13 times more likely to see a positive ROI, according to HubSpot.
Despite this, many advisors aren’t blogging—often citing time as the biggest constraint to creating quality content. Here are a few ways to create that content and save time all at once.
What to do:
Turn to a firm like FMG Suite for content and then make it your own: Your blog should have a voice consistent with your brand. Many firms can give you access to content—and a few allow you to edit it. You can also find content on the internet and simply opine on the topic. Or consider hiring an intern to help you write your blog material.
Include images: Images are processed 60,000 times faster than text. They also make your blog post more enjoyable to engage with. Consider creating your images using a tool like Canva to add a sense of quality to your posts. Graphs, checklists and diagrams are a great way for advisors to include imagery by visualizing data.
Write for search engine optimization: Start by asking trusted clients what key words they would (or did) use to find you. Think like your clients to identify the best ones. Next, write your blog title and headlines using those targeted key words. Be sure to also write your blog for length, since, according to data from Ahrefs, Google tends to prioritize more detailed blogs.
Susan Theder is the chief marketing and experience officer at FMG Suite.