Social media has been touted as a game changer for advisor businesses but many are beginning to question the value of time spent networking on social media sites.
It’s true that some advisors are attracting new clients and that their businesses are thriving from their social media involvement. But others who expected miracles to happen are not so sure those miracles are coming.
This Website Is For Financial Professionals Only
Young planners are planting seeds with young entrepreneurs, young doctors, and young lawyers that will likely result in multi-million dollar businesses within a few years.
But success in social media seems to be age-related. A critical component of success has to do with setting realistic expectations.
Social media is no more a holy grail than anything else. Knowing how to use a new marketing tool can make all the difference.
Like any other marketing idea, there are always advisors who will expect effortless returns. And like any other marketing tool, social media must be adopted and implemented within the definitions of the environment in which it functions.
Advisors who do not wish to make the effort to adapt can expect the results that often are reaped from any endeavor: you get out of it what you put into it.
What advisors may not recognize is that social media is just a different approach to building relationships.
Targeting the right audience for your business means defining the right marketing tools
to implement to accomplish your goals.