Why are more IFAs using Social Media & LinkedIn in particular?

More IFAs are using LinkedIn and blogs to expand their marketing reach and connect with their peers.  Advisors are recognising that if they are to keep up with developments in marketing Social Media needs to play a part in their strategy.

10 years ago, like many other small businesses IFAs were weighing up the pros and cons of having a website and asking themselves whether they actually needed one.  Needless to say, now most people have a website the same questions are being asked about social media accounts, and IFAs are coming to the same decisions; they are realising that Social Media and in particular LinkedIn can be very effective for them.

A LinkedIn profile can contain industry specific keywords and so gives an advisor the opportunity to be picked up by the search engines for those keywords.  In addition to a personal profile, you can set up a company page where you can list your services and products in more detail. Like any other social media account, your profile should always be complete with as much information as possible about who you are and what you do, and must have an up to date photograph and contact details.

You can also request recommendations from people and show them on your LinkedIn profile or company page.  These recommendations don’t have to just be from clients, but can also be from colleagues and associates, who have worked for or with you. These obviously help to build your brand reputation and instil a feeling of trust in you and your product or service.

LinkedIn also allows you to post updates, so if you do have a blog giving out industry information or advice, you can post links to your articles via the updates function within LinkedIn.

So successful is LinkedIn combined with blogging that some recent research in America showed that 61% of advisors with a LinkedIn profile had acquired a client from it and about 47% of advisors who use a blog, had acquired a client through that.  The figures from such surveys in the US are normally indicative of UK trends too, so can be seen as a good indicator of how successful LinkedIn and blogging can be if used properly. If you want to get going but aren’t sure where to start you can find more information about our LinkedIn & Blogging workshops here.

IFAs using social media (Star image)

Unbiased.co.uk, a not for profit directory for IFA’s recently recognised the importance of gathering feedback from clients, as a key influencer of likelihood to enquire/purchase as well as building IFA’s reputations by launching a dedicated 5 Star rating service.  Read more about these reputation management services here.

Of course the other social media accounts such as Facebook, Twitter and Google+ are also in the mixing pot too and need to be reviewed in line with your overall social media strategy.  In the world of financial advisors, Twitter can be a great tool for gathering information in addition to getting your articles out.  Google+ is also beginning to grow due to the ability of advisors to sort their contacts into groups and tailor their content accordingly.

Obviously the world of financial advice is strongly regulated and when using social media FSA compliance is essential.

If you’re an IFA and are achieving success using LinkedIn and blogging, share your tips with our readers.

This entry was posted in Reputation Management, Social Media and tagged , , , , by Rob Thomas. Bookmark the permalink.
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About Rob Thomas

Rob lives and breathes Social Technology, Social Media & Mobile Marketing. He will show you how to use them to improve many areas of your bottom line, not just Marketing! He’ll show you how to enhance and protect your reputation, whilst generating increased sales, reduced costs and improved customer acquisition and retention. Recognised as an expert in reputation management, digital and mobile marketing, Rob is a professional speaker both in the U.S. and across Europe. In addition to consultation services, including the “12 step process to achieve Social Proficiency” programme, Rob also coaches, trains and provides implementation services to help business owners, organisational leaders and their teams. If you want/need Rob to speak at one of your events please email him rob.thomas@wsi-emarketing.com You can follow me on Google+