“The purpose of content marketing is to attract and educate people without selling,” Cheng said. “You want to communicate with clients in a way that makes sense and showcase your expertise by sharing content.”
For example, financial advisor Michelle Smith posts content five to 10 times a week. “I use LinkedIn and Twitter to post content that’s often divorce related,” says Smith, who specializes in divorce financial planning in New York. “I do it for the exposure and thought leadership.”
According to Somal and Cheng, the technology planning process starts with identifying the audience and continues with gathering information about digital assets currently in operation, analyzing current needs, developing recommendations, implementing and frequent monitoring.
“We don’t put prices on our website,” Cheng said. “If you are an hourly or fee-based financial advisor, you can post your fee schedule.”
When it comes to compliance, outsourcing and hiring experts is preferred.
“In social media, you want to make sure you document that you’ve worked with compliance,” said Cheng. “We use Global Relay so every time there’s a change, it’s archived. Hire a copy editor or freelance writer with experience writing about personal finance to help you.”
Global Relay is a compliance messaging and message management service in the financial sector.