Once regarded as mere entertainment portals, social media like Facebook, Linkedin and Twitter are helping IFAs who know how to use them in many ways. Jayshree Pyasi lists down the many benefits that IFAs are deriving from social media
Social media has today moved beyond the early adopter phase to the business world. Not just large corporate, even individuals and small enterprises are using it for their business
Gaurav Mashruwala, CFP, owner ACE says, “I am always overwhelmed by the kind of response I receive on my online posts whether on Twitter or Linkedin. It is a fast way of communicating and remaining in touch with a large and diverse audience.”
Cheap lead generation
One of the major benefits of social media marketing (SMM)is targeted lead generation done effectively and economically. Using sites like Facebook, IFAs are casting a wider net to attract potential clients with free and interesting content on personal finance related issues.
Engagement
With social media it has become easier for IFAs to keep their clients engaged. Meeting and travelling long distances frequently is not a feasible option. So IFAs are interacting with business associates and clients through social media.
Direct communication with influencers
Some users are more active and persuasive via their posts than others. In the SMM circle, they are known as ‘influencers’. By simply spreading the word about the advisor and services they are capable of, they are swaying dozens of their friends or relatives to do what they are doing.
Social media offers an unprecedented opportunity to target influencers in the advisor’s client base. Advisors can take note of the most active participants on the social media forums and interact with these influencers in real-time.Through them, advisors can convey messages or angles to the public, thoroughly yet subtly.
Casual Follow-up
Social media also helps IFAs to stay connected with their customers via casual online follow-up. Responding to customer posts, publishing status messages to reflect customer concerns, participating on discussion forums– all of these are simple yet effective ways to show customers that an IFA is present and paying attention to them.
Though social media follow-up may not always produce instant benefit in sales, it does increase interactivity and generate goodwill between the IFA and customers.
RSS - feed
Though only a few IFAs are using this feature, its effectiveness cannot be ignored. IFAs are sourcing financially relevant articles through RSS feed on their websites, facebook wall, twitter and linkedin profiles. Such articles add a lot of value to the IFA’s personal web-pages.
Social media provides you with ahandymeans to retain existing customers as well as in finding and tapping new customers. Already, select IFAs and investors have employed it in building their a scalable business.And it’s about time that you too jumped onto the bandwagon. You can love or hate social media but you cannot afford to overlook it on a professional level!
Next in the series is – How are IFAs marketing on internet?
