What Every Financial Advisor Ought to Know About Twitter

Imagine… by the end of this post you’ll be able to optimize your Twitter account to enhance your business!

With Twitter being right up there alongside Facebook and LinkedIn as one of the most dominant social networks on the web, it’s no wonder why Twitter is a valuable business and professional engagement tool.  And, with 200,000,000 registered Twitter users (and counting), does it not make sense that for you, as a financial advisor, Twitter is the place to be if you want to reach your clients (many of whom are no doubt on Twitter)?      

Your aim, as an advisor, is to establish a Twitter following comprised of your client base.  In establishing your own ‘Twitter identity’ and inviting your clients to “follow” you, you fulfill a number of accomplishments:

A)     You establish and sustain your position as a thought leader.  Each and every one of your clients active on Twitter is following someone – and that someone should be you!

B)      You open up a new and different channel of communication.  It’s not always necessary to conduct long meetings.  Sometimes, all that’s required is a brief message – a Tweet – that will direct your clients to a specific article that will inform them as well as support your advice or line of thinking on a certain issue.

C)      You are afforded a great opportunity to develop a following independent from your existing client base – you can reach prospects as well!  How can you attract more quality followers?  Read on:

1.       Stay Active in your “Twitter Community” – It’s important that you participate in the conversation.  Find your financial community on Twitter.  Who are the leaders?  What content is being shared?  Check out what other advisors are tweeting.  Being an active part of your industry on Twitter will help you connect to a relevant audience.

2.       Follow Others that You Want to Know – Don’t follow people simply because you want them to follow you.  Follow those that you genuinely want to know – other industry experts and prospects – people who peak your interest and who will enrich your life as a financial advisor.

3.       Make Sure that You Introduce Yourself – As its title suggests, social media is just that – social.  Think of Twitter as a gigantic industry party.  Take the step to introduce yourself to those you want to know – it’s easy to make a personal introduction.  And, why not comment on or ask a question about a recent blog of a person to whom you’re introducing yourself!

4.       Keep it Focused – If you’re using Twitter for business purposes, try to refrain from posting too many tweets about your kids or your dog.  Keep them industry focused – at least for the most part.  There’s nothing wrong with posting the occasional more personal tweet or perhaps a funny one-liner or inspirational quote, but bear in mind that posting plenty of content relevant to the financial industry will attract your target audience.

5.       Join in on Lots of Twitter Discussions – Involving yourself in finance-related discussions will further serve to draw attention to your expertise.  Finding discussions is easy on Twitter – just use the search tool or search via hashtag – e.g., #mutual funds; #retirement planning; etc.).

6.       Pay Attention to Your Audience – Know what your audience is talking about – what kind of questions they’re asking and what information they’re sourcing.  By providing tweets of substance, you will attract quality followers.  Ensure that you respond promptly to questions in order to build or maintain your status as a valuable resource.

7.       Don’t Be Afraid to Retweet – Retweeting posts that are of interest to you will increase your visibility on Twitter.   People following those that you retweet will view you as someone who shares common interests.  Ensure that you include the @name when you refer to other users, as this will develop relationships.  And, other users who monitor themselves will be sure to notice your retweet!

8.       Promote Your @Name – Ensure that you include your @name (your Twitter handle) on your business cards, your email signature, your blog and your website contact info. 

Twitter is an extremely useful resource at the disposal of every financial advisor.  If you want to learn more on how you can get the most out of your Twitter experience, join one of our Social Networking for Business workshops and we’ll teach you all you need to know!  Simply click on the link below for a schedule of workshops in your area!

http://www.escomputertraining.com/courses/details/industry/2/course/20

AS AN ADVISOR, COMMUNICATION IS PARAMOUNT: THINK SOCIAL MEDIA

As a financial advisor, how often do you think it’s prudent to be in touch with your clients?  How important do you think it is to impart crucial information, keeping your clients up to date regarding what’s relevant to them? 

Did you know that 65 per cent of Canadian investors have not been contacted by their firms in the past year with respect to product or service offerings?  This fact cites the recently released results of a 2011 survey conducted by J.D. Power & Associates, which posed a question to 5600 investors as to level of satisfaction with their firms.  It would appear that many respondents are underwhelmed with respect to investor communication.

Other findings of the survey include that four in 10 respondents had had no discussion with their advisors that resulted in appropriate alterations to their portfolios.  Furthermore, almost 30 per cent have disclosed that their advisors had not given them any effective indication as to why their portfolios are performing as they are.

Clients that feel neglected are ripe for poaching!  Some might move portions of or even their entire portfolios elsewhere.  How can you stay closer to your clients and keep that mindshare?  The easiest and most efficient way is to adopt Social Networking tools such as LinkedIn, Facebook, Twitter and Blogs into your marketing and client service strategy.

Overall satisfaction with full-service firms was rated on a score of 1000, with the average being 733 – and this is down from one year ago.   Regular contact & communication between advisors and investors is imperative in order to maintain greater investor satisfaction. One of the simplest and most effective ways of achieving this is through social media.  Social media is all about contact / customer relations management. 

Join one of our Social Media for Business Workshops to make the most of the various social networking platforms and better serve your customers.  For further information and a schedule of our workshops, please visit:

http://www.escomputertraining.com/courses/details/industry/2/course/20 

ATTENTION ALL FINANCIAL ADVISORS: THE TIME TO START TWEETING IS NOW!

Is Twitter really relevant and helpful to today’s financial advisor?  You bet it is!!

Consider this:  With everyone and their moms using Twitter (the ever-popular networking site currently boasts approximately 200 million registered users), you can bet your bottom dollar that many, if not most, of your clients and prospective clients can be reached on Twitter.  So, why shouldn’t these people be following you?

Twitter is a wonderful little micro-blog that incorporates so many features and uses, but the ways in which a financial advisor can use Twitter are unique to that industry.

For the average finance professional (at least from a business standpoint), garnering hundreds of followers is not of great use unless you are targeting the right users – your client base and future prospects.  It’s essential for you to establish your ‘Twitter identity’ and invite your existing clients to follow you.

By doing so, you establish yourself as a thought leader.  People need to get their financial information and advice from somewhere; why not from you?  You have to know that, realistically, other financial professionals are active on social media sites, and you definitely want to not only stay in the game, but become the front-runner!

Twitter provides a distinct form of communication that differs from all other channels.  Not each and every client interaction requires a long, drawn-out meeting.  If you have a point to make (perhaps as follow up to a previous meeting) or just want to share a brief message or tid-bit of relevant information, Twitter offers the perfect platform within which to do so. 

Twitter also offers you the opportunity to expand your following to those outside of your existing client base, thereby attracting prospective clients as well.

Here are a few tips for attracting quality followers on Twitter:

1. Start Following the People that You Want to Follow You:

Do some research in terms of potential leads and start following them.  Tweet something pertinent to them and let them know where they can connect with you via Twitter.  You might also want to follow other industry experts to share important tips and advice that you can “re-tweet” to your followers. 

And, don’t be afraid to introduce yourself.  The key word in the term social media is ‘social’.  Think of it as one global cocktail party.  It’s uncomplicated and very effective to make a personal introduction – and why not make an intelligent comment or ask a question.

2. Tweet Engaging & Interesting Content:

With only 140 characters per tweet, make them count.  It’s always a good idea to tweet an eclectic blend of information, from industry news to directional links to informative articles.  And, don’t be afraid to throw in the odd joke or humorous quote.  Remember, it’s a social network.  You want people to know that you are the best financial advisor around, but that you’re also human and very personable.  People will only want to do business with you if they genuinely like you.

3. Remain on Track:

With number 2 (above) being said, try to keep in mind that the main objective is to attract clients and prospects.  So, go ahead and be personable, but try to refrain from tweeting prolifically about the weekend adventures of your kids or pets.  A slight bit of this is okay – after all, you’re human – but that’s not why business contacts are following you. 

4. Join In Discussions on Twitter:

Getting in on industry relevant discussions is a great way for you to display your expertise.  Join in and show ‘em what you’ve got!  To find interesting topics of discussion, you can use the Twitter search feature or search by hashtag (i.e. #RRSPs or #capital #gains #tax).

5. Interact with & Listen to Your Followers:

In posting valuable, information-rich tweets, it’s only a matter time until you start attracting more and more followers.  Ensure that you are consistently paying attention to what your audience has to say:  what kind of questions are they asking?; what type of information are they looking for?  Always respond to queries as promptly and as informatively as possible, showcasing yourself as a valuable resource to your followers.

If you want to learn more about Twitter and about why, as a financial advisor, the time to start tweeting is now, come join one of our Social Networking for Business workshops.  Please see our schedule for a listing of workshops in your area and we’ll teach you everything you need to know:  http://www.escomputertraining.com/courses/details/industry/2/course/20