Advisors Are Less Euphoric About Social Media, But That Might Be Because They're Still Not Doing It Right
- Created: Tuesday, 20 December 2011 14:56
The Aite Group polled 437 advisors and concluded that "the bloom is off the rose."
Where one in five thought their social media presence was a differentiating factor back in 2009, only 9% think that way now.
That's not surprising. Many of the big fish in the industry are on Facebook and Twitter now, so it's not really a unique thing to be the twittering advisor.
But as advisors finally get their social efforts going, they're suddenly negative on the concrete impact of all those updates.
Across several categories -- reaching new prospects, earning revenue, becoming more productive -- only half as many advisors say their social media presence is working out.
One category that did improve, and it's a revealing one. Back in 2009, only 1% said their social presence was helping them communicate with clients.
In other words, only 1% had a social media presence. This was before the regulators established rules for these communication platforms, so it makes sense that adoption back then was minimal at best.
But if so, then a lot of those bullish 2009 statements probably reflect more hope than actual results.