Advisors: Now’s the Time to Make Social Media a Priority

Time…we never seem to have enough of it, right?

I know I struggle to balance my family, work and social life. I simply can’t make it to every soccer game, school activity, volunteer opportunity or dinner party. I constantly have to make choices based on what’s important. I’m guessing many of you are in the same boat. Clock

These same principles apply in the business world as well. You have to determine what’s most important to your job/business — growing your practice, building/strengthening client relationships, providing excellent customer service — and focus on those priorities.

So, I’m wondering why more advisors and financial professionals aren’t embracing social media. You’ve told me: 

  • You believe social media is important;
  • You want to spend more time on social media; and
  • You know you need to be doing social media.

It’s funny, when I ask why you aren’t using social media, I hear more times than not, “I don’t have time.”

Since social media is a great, free way to market your business, you’re missing out on significant opportunities to help strengthen client relationships, prospect for new clients, stay on top of industry trends or talk to your customers. Social media allows you to do all of these things if you know how to harness its potential.

You do have time for social media

According to recent studies, the average person spends 28% of the day managing email, 19% attending meetings and 25% on meaningless distractions. Maybe you have more time for social media than you think.

If it’s important, make social media a priority. Add it to your “must do list” and remove something else – something you’re not getting as much value from. Remember, it’s all about priorities and social media should be a priority if you want to grow your practice.

Commit to social media

  • Incorporate social into your business/marketing plan – write it down, so you feel more accountable.
  • Create a social media and content strategy – this will help focus your efforts and help you measure your results.
  • Commit to your strategy – spend a few hours each week on your social platforms. Engage in discussions, post content that’s of value/interest and, most of all, listen. An advisor I know sets aside two hours every Monday to focus on social media. This is a great best practice.

Social media is a long-term strategy

Social media will not garner instant results. You’re not going to get 1 million likes on your Facebook page or hundreds of followers on Twitter the moment you sign up. Social media is a long-term strategy – one that takes time and effort to build, just like cold calling or any other marketing strategy. However, by committing now, you’re positioning yourself for success down the road, so take the time now!

What’s holding you back from leveraging social media? Do you have tips/advice for advisors and financial professionals who say they don’t have time? How were you able to commit to social media? What successes have you had? I’d love to hear your thoughts, so drop me a line in the comments or on Twitter.

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For more information, check me out on Twitter, where I regularly share social media tips, advice, trends and more, including how to build your business with social. Follow me at @jonferchen.

Insurance products and plan administrative services are provided by Principal Life Insurance Company, member of the Principal Financial Group® (The Principal®), Des Moines, IA 50392.

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