Yes! If you are not sure how to harness the potential of social media to build your practice look no further.
We will discuss that and more at our upcoming small funds conference, Strategies to Engage Advisors & Attract Assets. Register today and join us for the free virtual event on October 20.
Making connections
A recent Putnam study revealed that nearly ¾ of financial advisors that turned to social media during the pandemic were able to initiate and/or onboard new clients. They found that advisors that actively used social media since February have not only created new client relationships but also improved existing ones!
While 85% of those surveyed preferred LinkedIn, other platforms like Facebook, Twitter, Instagram, YouTube, and Snapchat were used as well. Utilizing the direct message options through each social media platform seemed to have yielded the best results. 50% reported using direct messaging on LinkedIn with 92% of those gaining assets.
The pandemic forced big changes for business and personal relationships. People had to find new ways to connect and communicate. Social media isn’t new, but many were reluctant to use it for business in the past. The need to “think outside the box” brought by the pandemic put social media front and center as an option.
Added support
Advisors reported support from their home offices helped the move to increased social media use. Home offices provided timely content, expanded the number of social networks that could be used, provided resources, and offered training. Our friends at the National Association of Plan Advisors shared more details on the study.
Are you reluctant to jump into social media? Or maybe you’ve dabbled and aren’t quite ready to commit? Register for our free virtual conference today and take advantage of the tips and tools from our experts.