Advisors say and do the darndest things. One of the dumbest is not cultivating prospects as followers, friends, and connections on social media and only using social media to communicate with other practitioners.
If you’re an advisor and the majority of your LinkedIn connections are other practitioners and people you buy stuff from, then you’re doing this all wrong.
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In fact, you may want to segregate advisors in a group on LinkedIn so that you’re not tweeting and blogging all your best ideas to a cross-town rival.
I’m not saying you should not connect with other advisors. It’s good to share ideas with colleagues and even competitors. But you don’t need to show a cross-town rival every tweet you send out. That’s competitive intelligence. It’s an overshare.
Instead, focus your social marketing effort on content that will be of interest to your ideal clients. This will allow you to engage in a long-term conversation with a large group of prospects using social media. Cultivate connections who could become a client one day. That’s probably not other advisors.
If you think what I am saying is totally obvious and have been doing this from the start, then forgive me. But I come across advisors pretty often who are just starting out with using social media and who have only connected other advisors so far. I know it's crazy, but it's true.