For financial advisors lacking confidence about their mastery of technology, or who still hand out printed business cards to prospects, haven’t written a bio for years and have no clue what acronyms such as SEO mean, Claire Akin is here to help.
Akin, a San Diego-area marketing consultant for independent financial advisors, untangles the potentially daunting world of professional networking on social media, specifically on the business-oriented site, LinkedIn—it ranks number 34 on most visited worldwide websites, according to Alexa Internet and SimilarWeb.
In The LinkedIn Guide for Financial Advisors, Akin explained what the site is all about and why advisors need to be part of it; how to create a profile and then fine tune it so that it stands out in the crowd; how to use the site to generate referrals and how to incorporate content marketing into your profile.
Akin, who describes herself as being on the “older wave of the millennial generation,’’ takes the sting out of learning new “techy’’ skills. Once these skills are mastered, she said, LinkedIn users can “indentify highly qualified prospects to ask for an introduction.
“You are able to target individuals based on the company they work for; the position they hold; shared interests, alma mater; age, location, gender, charitable causes, prior employers,’’ she wrote.
Akin illustrates how to create a profile: a compelling headline is a must—it’s what site visitors see first; and a strongly worded, specific summary providing experience and expertise is critical. Subtopics such as education, blog posts, publications and certifications are valuable as they pop up in Google searches and lead visitors to your profile.
And there is this interesting nugget from Akin: about 90 percent of investors referred by a friend or family member type the advisor’s name into Google before they make an appointment. Because Google gives preferential treatment to LinkedIn profiles in search results, your profile is as likely to show up as your company website.
“By having an up-to-date LinkedIn profile, you help prospects find you online, see who you are connected to and feel more confident placing their trust in you,’’ Akin wrote.
She describes the many permutations of online communication—LinkedIn’s message inbox; emails; mentions, groups, etc. Advisors must check with their compliance department on approved types of communications. For instance, recommendations and endorsements are not allowed in profiles because they are seen as testimonials. These restrictions are lessening, she said.
“Every major independent broker-dealer has now approved the use of LinkedIn with a few compliance precautions,’’ and “7 out of 10 financial advisors are using social media for marketing,’’ with “90 percent using LinkedIn as their primary platform.’’