How to put this into practice: Trying using Facebook to post client pictures (with their permission) from appreciation events. Keep tabs on what clients are doing, whether it is a son's college graduation or a birth of a granddaughter. Take those opportunities to send a "congrats" card or gift. Monitor clients' likes and, more importantly, their life changes. A specific example is seeing a new job status on LinkedIn, which might trigger a rollover conversation.
10. It increases business. Social media can help advisors save on marketing expenses, create prospect awareness and increase client advocacy. All those efforts can help a business become more profitable.
(Remember that all advisors have different sets of policies based on different interpretations of FINRA and SEC rules, so work with your compliance contacts before using social media.)
© 2010 Byrnes Consulting, LLC All rights reserved. Mike Byrnes founded Byrnes Consulting to provide consulting services to help advisors become even more successful. On top of social media, his expertise is in business planning, marketing strategy, business development, client service and management effectiveness, along with several other areas. Learn more at www.byrnesconsulting.com.