Is It Realistic For Advisors To Expect To Benefit From Social Media?

Despite all the hubbub about social media for advisors, adoption is slow and its effectiveness remains questionable. Obstacles to success are formidable.

Compliance. RIAs must archive social content. Signing up and setup a compliance app to capture your social media content is an expense — albeit a small one — and takes time.

Knowledge. Many advisors do not know what a status update is. They have no experience with building a network of connections and followers.

Content. Advisors don’t know what to say. It’s like putting a microphone in front of someone in a crowded room and telling them to say something smart.

Discipline. Social media is not an activity you can do once a month and expect results. It’s like drip marketing and you need to drip on people daily or every other day.

Strategy. Most advisors don’t have a well-defined target market, so they wind up posting about content not aligned with any particular strategy.

Snake Oil. Since advisors are naïve about using social media, they are getting sold solutions that sound good but don’t deliver.

I’m happy to report that Advisor Products has a solution. It’s easy, low-cost, and effective.

We’ve added a social media dashboard to our platform. In seconds, you can send a “tweet” (status update) to all your friends and connections on LinkedIn, Twitter and Facebook.

For years, we’ve been producing content for advisors, articles about wealth management, and it’s pretty widely known that our content is the best coverage of issues for high-net-worth individuals available to advisors. In the last couple of years, we’ve partnered with tax expert Bob Keebler and economist Fritz Meyer to make our content even more substantive and authoritative. With the social media dashboard, we’ve made it incredibly easy for advisors to provide status updates that link to their websites.

You can personalize each tweet with keywords aimed at your target audience, which will help you with search engine optimization. In about 10 minutes, you can schedule a tweet a day for the next week.

One advisor who has been a beta tester showed us Google Analytics statistics showing visits to his website shoot up between 100% and 500% when tweeting our content.

By placing a special “free” report about wealth management on your website, you can convert visitors to your site into prospects and some will become real clients. Plus, tweeting to your clients about wealth management keeps you in touch with them. We’ve partnered with Erado Message Control to enable you to archive your social media accounts inexpensively.

The social media dashboard is a realistic way for advisors to benefit from social media. The social media content stream for financial advisors is a realistic and effective way to get started with social media.

The social media dashboard is going live on all Platinum sites in the next couple of days. Call 888-274-5755 if you would like a demo.