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

RRSP NEWS – GET IT OUT THERE WITH SOCIAL MEDIA

It’s RRSP season, and with the contribution deadline just around the corner, it’s important for all of you financial advisors and planners to get vital information out to your clients and prospects.  So many people don’t understand the in’s and out’s of RRSPs.  What better way to communicate with people than via social media? 

RRSP season is a great opportunity for you to get blogging.  There are a plethora of topics to blog about when it comes to RRSPs.  If you’re so busy that you don’t have the time to come up with any ideas, here are a few you can use:  

-          RRSP vs. Mortgage – Where should your extra dollars be going?

-          TFSAs – The New Alternative to Traditional RRSPs

-          How to Calculate What you Really Need to Retire Comfortably

-          How the Home Buyer’s Plan Program Works

-          What Do Index Numbers Mean and How to Read Them

These are only a few examples – for more ideas, just consider some of the most often-asked questions you hear and blog about them.  Blogs are a very effective way of imparting crucial information to very appreciative clients!

And, don’t forget to use Twitter and Facebook, too.  Tweet short bursts of relevant information and include a link to your blog & website, or to any interesting, helpful articles you think your community might benefit from.  Do the same on Facebook – remind people of the upcoming February 29 deadline and post your contact information so they can get in touch with you!  Post a reminder, for example, that the maximum contribution one can make to his/her TFSA in any given year is $5000.00 – let people know that they can be penalized for going over that limit and give them tips on how to ensure that they don’t accidentally do so.  Make sure your posts are useful to people – as I mentioned earlier, the average person does not know as much about RRSPs and retirement as we should know, and by sharing your expertise via the social media platforms that people are using, you are establishing yourself as the go-to person that people will want to deal with.

If you need help communicating via social media, why not consider joining one of our Social Media for Business workshops, where we’ll teach you everything you need to know to be effective on Facebook, Twitter, LinkedIn and how to make the most of your blog!  Click on the following link to view a schedule of workshops in your area:  http://www.escomputertraining.com/courses/details/industry/2/course/20

PROMOTE YOUR BUSINESS WITH FACEBOOK EVENTS

Planning a special event?  An event is a great way to promote your business and Facebook makes event planning and promoting easy (whether the event is real or virtual).  Facebook Events allows you to organize gatherings, respond to invitations and is a valuable way of keeping up with what your friends are doing.  An Event can be anything from a store’s new location opening, to an Open House, to a charitable fundraiser sponsored by your business.  An Event can be used as a fundamental way to generate business.

A Facebook Event is a useful tool for exposure, for fostering new and existing relationships, for generating sales and for sponsorship opportunities.

Example:  Say you’ve just started up in the real estate industry and you want to generate some buzz with a wine & cheese soirée.  Great start and an effective way to promote your new business! 

To Create Your Event: 

Clicking on the Events link brings you to a page listing upcoming events you`ve been invited to.  Clicking on an event will bring you to the event’s page, and will allow you to RSVP and see details such as the event’s time, location, and a list of invitees.  Clicking on Past Events will display a list of events you’ve previously been invited to.

To create your own event, click on Events at left on your homepage

Then, click on Create Event

It’s simple and fast.   Just fill out all of the relevant info.  Note the Add Event Photo option on the left.  And, you can add videos as well!

Once you have added a time and location, your event is created.

You can invite any of your Facebook friends to your Event, or you can invite people that are not connected on Facebook by simply entering their email addresses in the box on the Guest List tab of the Edit Event page.  You can invite as many people as you would like to an Event, however you can invite only 100 people at a time.  You can also make the event completely public so that anyone on Facebook can see the Event and sign up to attend.  People like to be invited to things – it makes them feel they’re a part of something. 

A good idea is to promote your event via Twitter and your blog as well.  Tell people all about it, especially if it’s open to the public (always a good idea when promoting a business). 

Once you’ve got your party started, it’s up to you!!  Work that room. 

See how easy it is to create an event all of your own on Facebook?  Just remember, you don’t want to overdo – a strategically timed event can be great for business, however, you don’t want to start scheduling them once a week – people will get bored. 

To learn how to effectively create interesting, successful events, why not join one of our Social Networking for Business workshops and we’ll teach you everything you need to know about Facebook Events, Facebook in general and all things Social Media!  Just click on the link below for a schedule of workshops in your area.

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

How to Get in the Game With Social Media

More and more independent brokers, agents, planners and advisors are adopting Social Media as a means of growing their businesses.  Are you?  Do you know what they know?  If you answered ‘no’ to either of these questions, it’s high time you get in the game and find out just what social media can do for your business! I know you’re pressed for time – time is and will always be the most scarce and precious resource of any business – but, trust me, if you are willing to make an investment of some of your precious time, the pay off will be well worth it! And, guess what else?  Time is virtually the only thing you will have to invest – social media are, for the most part, free of monetary charge.  Now, how’s that for incentive?    

Joe- Average-Consumer -Based -Business -Owner is neither unintelligent, nor unaware of the need to constantly improve customer communication channels and methods.  Most CRM Social Media Experts preach and skim the surface of the problem with no real solution offered.  The message is the same: “you need to communicate”, “you need to improve access”, “you need to review”, “you need to mine” and “you need to post”….  Lots of 'you need to's; very few plans as to exactly how!

At ES Computer Training we work with you and assist you in developing the right plan for you and your business.  And, recognizing that you don’t have time to do everything, we can help you:

1.  Become aware of what’s out there.  We do a great job of addressing this first step in our one-day workshops.  We will help you to truly understand the fundamentals of social networking and the most effective ways to use it.

2.  Identify where your customers are in terms of social media and how they’re using them. 

3.  Discover what you have to offer your customers.  How will they benefit?  If you can     speak to your customers and give them something of value, you have it made.

4.  Provide daily, accessible and very real channels online for your customers to find and speak directly with you. Nothing is more powerful than direct communication.

5.   Acquire the resources to conduct experiments and determine which channels to adopt and how effective they will be.

6.  Discover how your competitors are using this channel and how this will affect your business.

7.  Come up with a viable and effective business strategy.

Going through these steps, we can give you the benefit of our experience with other clients and help you determine the manpower commitment and resources required for any campaign.  We have worked with agents, brokers, advisors and planners, who have invested the time and created their entire businesses through the use of social media.

The PLAN, the resources and of course, the associated time commitment will be laid out for you.  This will allow you to assign much of the effort to support staff, while giving personal attention to the most important parts of your Social Networking Campaign.

For a schedule of workshops in your area, please visit: 

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

Six New Ways Insurance Pros can Use Social Media

The insurance industry has been increasingly taking advantage of social media as a brilliant marketing tool and social media are becoming indispensible for businesses in so many innovative ways!   I wanted to share with you some ideas I came across while reading an article by social media strategist, Jo Stratmann (based on a report put forth by Ernst and Young) with respect to how social media can be further utilized in the insurance customer value chain.

Here goes:           

1. To Research Products – Your customers are researching insurance products on dedicated price comparison websites.  They’re seeking answers to their insurance related questions through their social media networks and looking for advice on how to get the best deals possible in terms of their insurance requirements.  As an insurance professional, you should be making use of social media and monitoring them to gauge and listen to your customers’ conversations.   It’s a great way of garnering valuable information about what’s being said about your products and services.  This will assist you in assessing the positive as well as the negative perceptions that are floating around out there in terms of what you’re offering and furthermore, how this influences the research stage of the customer value chain.  If, for example, there’s no buzz out there at all pertinent to your products and services, this is a clear indication that your marketing initiatives must be reassessed.  One suggestion is to establish Facebook and Twitter accounts (if you’ve not already done so) for your brand so that you can be quick to respond to customer requests and comments and maintain an ongoing, interactive dialogue with them. 

2. To Request Quotations – More and more people out there today are using social media as a means of generating and requesting quotes for their insurance needs.  Again, it’s essential that you are connected on the various social media platforms that your customers and prospects are using, so that you can be the one they look to when sourcing out quotations.  Offer your assistance and advice and get them the quotes they’re shopping around for.  For a competitive edge, research via social media what (deals, etc.) your competitors are offering.

3. To Buy Policies – Industry research conducted by Ernst and Young has found that the vast majority of customers (90%) agree that peer recommendations are the most credible form of advertising.  It’s social proof!!  If a lot of people are doing something, more and more will want to follow suit, because it must be the right thing to do if so many people are doing it.  Product reviews and recommendations from others play an integral role in a customer’s decision making process.  Social media sites allow for plenty of customer review and feedback - and if this is all positive with respect to your products and services, just think about the implications in terms of advertising for your brand!  You could literally spend thousands of dollars through the traditional channels and it wouldn’t be worth nearly what social proof is worth!

4. To Service Policies – As social media allow customers to communicate interactively with their insurers, this helps you, the insurance professional, to garner crucial information regarding customer needs & wants and assists you in maintaining top-notch service for your customers.  You are provided the opportunity to educate them concerning their policies – the benefits, your suggestions for altering their policies, etc. 

5. To Lodge a Claim – Social media are very useful in terms of disseminating valuable information that could possibly help to reduce claims.  Blogging, for example, is a powerful way of offering advice and guidance – your blog allows you a platform within which to impart crucial information about insurance related issues – i.e. the trials & tribulations of winter driving and how to best stay safe on the roads (snow tires, speed alteration, etc.).

It’s also a great idea and becoming more and more commonplace for claim handlers to mine social networking sites such as Facebook and Twitter to assess the validity of claims given the data, comments and social networking conversations of the claimants.

6. To Renew & Terminate Policies – Customers generally fulfill their renewal and termination requirements via websites, therefore the same potential exists for insurance professionals to use social media to advance renewal numbers.  A fundamental benefit to social media is that it allows you to gather insightful CRM (customer relationship management) data, for example, policy types, renewal dates, etc.  Given this information, your social media engagement could encompass not only acquiring new customers, but targeting existing customers prior to the renewal dates of their policies in order to entice them into renewing or changing rather than terminating their policies.

For so much more on using Social Media for your business, why not join one of our Social Networking for Business workshops.  For a schedule of workshops in your area, please visit:

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

MORTGAGE NEWS YOUR CLIENTS NEED TO KNOW

It looks like mortgage rates are on the rise!  Is a fixed rate now more economical than a variable rate?  As a mortgage specialist, this is the type of crucial information that your clients and prospects need to know!  Are you using social media as tools for communicating with your clients and prospects?  If not, you should be!  You can bet that your clients are on social media and what better way to connect with them?                 

An article on the December 6, 2011 edition of thestar.com spelled out how there has been, over the past few months, an increase among variable-rate mortgages and that experts are currently predicting that this will remain the case.  The article cites information from Kerri-Lynn McAllister, community manager at RateHub.ca. 

Ms. McAllister is quoted as saying that, “A few months ago, there was basically a one per cent spread between fixed and variable.   Now it’s .2 or .3.” 

Ms. McAllister maintains that the reason for the rise is at least partially due to the fact that , since mortgage rates have been so low, banks have had difficulty making any money. 

And, although fixed rates could also be slated for an eventual increase, the question seems to be:  Is it now better to go for a fixed rate than the traditionally more economical variable rate?  According to Ms. McAllister, fixed rates now seem to be the way to go.

Joseph Haimowitz, principal economist at the economic think tank, Conference Board of Canada, expects, however, that fixed mortgage rates could rise by as much as .25 per cent by the middle of 2012.  But, according to Robert McLister, editor of Mortgage Rate Trends, it appears that, for at least the foreseeable future, discount variable rate mortgages, which tend to offer rates half a per cent or more below prime, are no longer.

Something to think about!  And, to definitely inform your clients about.  Get connected today on social media.  Let us show you how.  Why not join one of our Social Media for Business workshops and we’ll teach you how to best leverage social media platforms such as Facebook, Twitter, LinkedIn and Blogging for your business’ marketing strategy.  Just click on the following link for a schedule of workshops in your area:

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