?Consumers expect their personal client experience to extend to social, mobile, digital, touching every aspect of the client experience.? The impact of social media in investment relationships is gaining in importance, according to speakers at the SIFMA social media seminar.
Spectrem Group, a well-respected affluent marketing research firm, reported on a study of affluent? social media use, found the top platforms used by affluent investors:
- Facebook (family/friends)
- LinkedIn (professional use)
- YouTube
Social media can be used to broaden and deepen relationships. ?The wealthiest investors are increasingly relying on blogs and twitter for financial information.? No information was reported about the frequency of use of each of these social platforms.
Use of Twitter was up 18% by those with $25 million or more in assets! (Spectrem) ?Twitter is one of the best ways to create community.? (Betsy Billiard, Ameriprise Financial Advisor) ?Social media is delivering real relationship insights.? Chad Bockius at SocialWare ?Social media is becoming a core part of the advisor-client communication stream.?
How companies are using social media:
TD Ameritrade (retail) ? TD Ameritrade has been an early adopter on internet trading and online tools. They realize the next step is to be more interactive. They find investors want engagement with others. They want to chat about their last trade, join groups, tweet. The key is to make company posts more interactive. TD Ameritrade ?listens? on social media and if someone sounds like they need an account, they respond.
Benjamin Edwards (St. Louis brokerage firm):
Corporate use only. They blog. They tweet. They use YouTube. They send a newsletter via email and link to YouTube video. Their advisors may use LinkedIn only. Most firms agree they use Facebook only for cultural stuff: events, charity, etc.
Financial services firms must integrate all these things: digital touch points; online advertising; search engine optimization; a personal web presence and a professional social media presence. Maturation of the technology tools will make the integration of these platforms so much easier. Right now it is very manual. Securities firms still struggling with last century?s regulations, compliance departments that are wary and are generally are being ?encouraged? to get on board by sales and marketing execs.
?Socially engaged companies get a four times greater business impact,? says Jeff Hunt at Pulsepoint, citing a study. ?Very important to get C-suite buy-in for social media.?
?There is a huge change coming. We are all so completely connected?? Reports widespread use of smart devices among affluent investors: 47% of affluents use a smartphone, 37% use an ipad.
LederMark Communications is a financial services marketing firm that helps advisors, portfolio managers and firms grow their businesses with effective marketing strategy and communications.
Source: http://www.ledermark.com/2012/11/insights-from-sifma-social-media-conference/
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