While kicking off a social media program may seem daunting – it’s time to make the leap.
The benefits of a social media strategy far outweigh the drawbacks for most asset managers, and compliance barriers, once believed to be insurmountable, get easier to navigate every day.
Top 3 benefits of social media
Social media channels can be used to connect and communicate with investors on a more “personal” level. They can also be used for Q&A’s with key personnel.
Check with your compliance officer – if you’re not allowed to engage in conversation on social media that doesn’t mean it’s not worth the effort.
Consider at a minimum, building company pages with links to resources on LinkedIn – add Twitter and Facebook if you’ve got the appetite.
Investors feel like they have more personal and direct access to your firm.
Even if compliance constraints prohibit direct interaction on social media platforms, take advantage of the opportunity to share content and build out your company page.a persona that feels approachable and knowledgeable.
Social media provides asset managers with easily accessible platforms for press releases, white papers, educational pieces, cross-posted blog entries, market commentaries and more.
Ready to start your social media campaign but not quite sure how to go about engaging with your audience? Think about ways to build interest in your firm and gain followers:
- Hold a contest – use it as an opportunity to build hype and cross promote
- Host an event (virtual for now) relevant to your audience - create a hashtag, build excitement and cross post. Live tweet during the event and provide a debrief and summary after
- Educate –position yourself as a thought leader by providing materials or hosting webinars. Share white papers or market insights with your investors
- Leverage your website – make your website a go-to resource for investors making sure valuable materials are easily accessible. Use social media to drive traffic to your site
- Share your content – larger papers can be divvied up and parceled out in smaller pieces building excitement and attracting followers
So many choices
There are many different social media platforms to choose from. The majority of asset managers are currently using:
Decided which platforms are right for you? Make sure to follow best practices to get the most from your efforts.
- Tweet daily, multiple tweets per day if possible
- Easy on the hashtags – 1-2 per tweet is plenty
- Use visuals or videos whenever possible
- Best times for businesses to tweet? During the general business hours of 9 - 5.
- Tweets should be 80% conversation, 20% promotion
- Visual – post pictures or charts
- Simplicity – short posts, 1-2 hashtags
- Engage – pose simple questions, 70 – 80% non-promotional
- Thought leader – post content, share relevant content from others
- Keep your page up-to-date and complete
- Publish relevant content
- Consider promoting content
- Utilize personal pages of key firm members to share content or post articles
- Make it personal – let your investors/clients get to know your firm and the individuals
- Produce content – not ads
- Cross promote your channel on your other social media platforms
- Don’t “sell,” instead, answer your readers’ questions/needs by blogging on relevant topics
- Minimum 300+ words, occasionally aim for 2500+ words
- Grab attention with the title, using keywords, and introduction
- Use bullets, lists and graphics when possible
- Use imagery
- Post relevant content from your firm and others
Before you jump in, make sure:
- You check with compliance
- Your posts won’t offend anyone
- You’re driving traffic to your website across all platforms
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