Social media is well-known for being an effective and engaging marketing tool. Channels such as Facebook, LinkedIn, Twitter and Instagram have fast become a direct link for businesses to reach their ideal target audience. With benefits like this, it’s easy to see why it’s the preferred communication method for many.
Even still, investment managers and the finance industry as a whole have been slow to move away from traditional marketing and into the realm of social media. According to research done by Sysomos, only 40% of investors consider social media to be a key investment source of information. However, a survey conducted by Putnam showed that 92% of users in the financial industry said that this form of marketing has helped them gain new clients.
The truth is that taking on these social channels can seem daunting and intimidating. It takes specialized knowledge and skills to build robust communication channels to bring in new clients. With over 2.38 billion monthly Facebook users, cutting through the clutter and sending out direct messages to your target audience is key. This guide will take you through finding the right platform for your investment management business, how to use them, and ways to successfully connect with new clients.
Finding the Right Social Media Platform for Investment Managers:
Being active across social media could be a major point of differentiation between you and your competitor. Going beyond client acquisition, you can make use of key industry insights to enhance your service offering too. However, if you want to get ahead of your competitors and impress your potential client base, choosing the right communication channel is vital.
A great way to determine if a social media application is right for you is to look at your business and your brand image. The world of finance tends to attract those with business interests and a keen eye for investments. These are some of the interests that would be better suited to the likes of LinkedIn, Facebook, Twitter, and even Instagram.
When looking at the right social media platform for you and your audience, consider these 3 questions:
- Who are you trying to reach?
- What are you wanting to say?
- How do you want to say it?
How to Successfully Connect with New Clients on Social Media:
As an investment manager, your online content should make up an integral part of your digital marketing strategy. For it to be effective, dedication and constant updates are key. Here are 5 ways you can optimize your social media strategy.
To avoid being lost amongst the masses, frequent posting is essential to ensuring your content stays relevant and at the top of your audience’s feed. The more you share information about your business, the better your chances are of driving real engagement. Posting at least once a day on each platform comes highly recommended. Although, Facebook gurus may argue and say for the best results, posting up to 10 times a day is best.
On top of staying active, it’s important to always be alert of incoming messages and questions. Should a potential client get in touch with you through social media, it’s best practice to respond as quickly as possible. Failing to do so can quickly lead to a lost opportunity and a gain for your competitor.
Post with Purpose
Although frequent posting is an important component to connecting with your clients, having valuable content is more important than anything. Remember, the goal is to drive connections and build a sense of authority for your business. With this in mind, each post should reflect this purpose rather than posting something irrelevant that can deter users from engaging with your content.
Post the Right Type of Content
One of the biggest headaches most businesses have when it comes to social media is content creation. As an investment manager, your skillset may not be heavy on the creative side, and you may be preoccupied with client work to worry about creating winning content. Thankfully, you don’t have to spend hours on end capturing the perfect post. In fact, the type of content does best on social media is the posts that speak to their audience.
Finding out what your audience’s pain points, what they want to hear, and how you provide them with value is what will connect you with your next big client. We recommend spending some time on your chosen social media platform searching relevant hashtags, community groups, and profiles to get a sense of where your client base is engaging and how they’re being influenced.
Once you have an idea of how what engages your audience, here are a few content options for you to explore as an investment manager:
- Sharing insightful blog posts
- Offering free investment advice
- Posting quick videos explaining who you are and what you do
- Speaking about the issues your clients face and the solutions you can offer
Post in Communities
A huge perk of social media is that it caters to every interest out there. You will soon find that there is a myriad of communities and groups that are full of people who are in need of your exact service. These groups are places where like-minded individuals come together to gain insights into their interest or to find answers to their problems. Try to spend time researching financial groups on Facebook, popular pages on LinkedIn, or active hashtags on Twitter and Instagram. Once you’ve found your niche, respond to questions and share your knowledge wherever possible.
Post with Care
Finally, while expanding your reach on social media, it’s important to remember to be mindful with your posts. Grammar mistakes or misleading posts can quickly send your marketing efforts into a downward spiral. Before hitting publish, give your message one more read through and ask yourself if it’s providing value to your audience.
For investment managers, it’s vital to build trust and authority at every point of client contact. Your clients are coming to you because you’re the best for their investment – your social media presence should not only represent this but exude it too.