HOW SOCIAL MEDIA IS SHIFTING THE BUSINESS LANDSCAPE

Social media is an instrumental element in creating a new epoch in business with respect to transparency and engagement.  It has allowed for fresh opportunities and even challenges.

In a past life, businesses depended on artful advertising campaigns and press releases as means of communicating with consumers.  Companies were constantly trying to influence people into believing that their products and services were the best, with in-your-face, interruptive and one-directional advertisements and messages.

With the social media era now upon us, the landscape of business and marketing strategy has radically shifted, as consumers now insist upon a more transparent and direct relationship with the companies with which they choose to do business.

Companies (that are not already making the most of social media to grow their businesses) must now decide if they will remain in the dark ages, becoming increasingly obscure, or take a leap onto the social media bandwagon in order to become ‘humanized’ and to forge new, interactive relationships with consumers. 

It’s now imperative that businesses make the shift, transitioning smoothly into the new era.

Here are some of the ways in which the shift is taking place:

1. From “Trying to Make Sales” to “Trying to Make Connections”- Interrupting people’s lives and talking “at” them via traditional advertising means has shifted to engaging and connecting with people more interactively and on a more human level.  Social media sites such as Facebook, Twitter, Blogs and LinkedIn, facilitate engagement and social interaction and as a result, consumers have more trust and feel more comfortable engaging in a business relationship with these companies.  The more successful brands in social media are posting not so much about their products and services, but more about ‘personal’ topics of interest that connects them with consumers.

2. From “Image Management” to “Just Being Personable” – It doesn’t do a company justice to maintain a constantly controlled image.  A friendly, trustworthy face that people feel they can depend on and relate to is key.  Drop the stiff corporate image once in a while and just be personable.

3. From “Unattainable” to “Readily Available” – Engaging with customers today is vastly different than it was in the days of simply including your email address and telephone number on your website.  People now want to engage businesses via their preferred means of communication and that usually means Facebook, Twitter or discussion forums.  People want to feel comfortable doing business with companies and need to know that these companies are accessible across the social media board.

Businesses that opt to not acclimatize to the new landscape that social media has formed, will be at a distinct disadvantage, as their customers begin to forge personal relationships with their competitors.  As we are now in an age of engagement, open communication and transparency, business success has less to do with the size of advertising budgets and everything to do with the quality of interaction with customers.

To learn more about how you can develop a social media strategy for your business, join one of our Social Networking for Business workshops and we’ll teach you everything you need to know to get started today!  Just click on the link below for a listing of workshops in your area.

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

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