Connecting with clients and prospects on an emotional level — not merely meeting with them — is more important than ever.
Many advisers realize this and come to me looking for some magic online formula that will allow them to connect better with both prospective and existing clients. Unfortunately, there is no magic app or social-media silver bullet that will transform your business instantaneously.
There is a solution that involves social media, but it requires work. If you have the desire and ability to connect with clients and prospects on a deep level, the answer lies in creating a system that enables you to go out and actually do the connecting on a consistent basis.
Social-media outlets, including LinkedIn and Facebook, provide the tools you need to do this.
Recently, I used social media as part of a marketing program we implemented for a 40-year industry veteran. This adviser has provided excellent advice over the years and takes a keen interest in his clients as people. Over time, however, he simply neglected to do any prospecting or make new connections; he became reliant on his existing client base.
Here's what we did.
First, we established a LinkedIn account for him and used it to connect to current clients, centers of influence and professional contacts. This helped us create a robust database of those already in his network.
Next, we made adding new connections a continual process by having him devote time at the end of each week to reach out to new prospects and centers of influence met during the previous days.
Third, we suggested that the adviser connect people online and off who would benefit by meeting each other professionally. A quick, selfless “e-troduction” goes a long way in building a relationship.
Fourth, we taught him how to connect with his network by posting relevant status updates with the goal of educating and providing value to those in the network. When posting status updates, it is critical that you not promote yourself more than you promote others. On the whole, financial services companies tend to do a ton of self-promotion. Don't follow their lead; self-promotion is a conversation — and relationship — stopper in the world of social media.
FOLLOW THE RULE
When posting content, we subscribe to the “One-Third Rule.” Here's the formula: One-third of the content should share information (this would be links to relevant third-party articles, current economic trends, motivational quotes and other such material); one-third should promote others of interest to your network; and the final third can be used to promote yourself or your company — preferably in an educational, non-sales way.
The fifth element of our strategy is to have the adviser engage in online conversations and participate in group discussions to the extent allowed within the firm's social-media guidelines. Being visible, adding value and establishing yourself as an expert will help people get to know, like and, ultimately, trust you. Do not ask for business or promote yourself. Simply work to establish yourself as a valued resource.
Finally, set up Google alerts for your top 20 clients or prospects to stay abreast of happenings in their lives (promotions, awards, events, community involvement). This allows you to reach out with congratulatory phone calls or send small mementos or gifts when the situation dictates. When you receive an alert on one of your clients, look for unique ways to recognize them for their accomplishment. Advisers with whom we work have recognized and congratulated top clients by sending them art pieces, professionally framed news clippings, custom-made dress shirts and other unique items.
Most important is remembering that all these strategies are part of a larger overall marketing and business development plan. Social-media marketing — like traditional marketing — should be part of this well-defined plan. To be sure, developing a plan and then executing the elements of the plan can be time-consuming. But it works.
If you haven't taken the time to craft a marketing plan that includes social media, it's time to get moving.
Kristin Andree is president of Andree Media & Consulting. She can be reached at [email protected].
