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Ignoring LinkedIn is Hurting your Advisory Firm

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According to The Wall Street Journal, “At Social Media High, Facebook is the all-star quarterback, Twitter is the school paper’s editor in chief and Snapchat is the mysterious, Harley-riding transfer student. That makes LinkedIn the nerd who skips prom for the mathlympics.

However, within the financial services sector, LinkedIn is the all-star quarterback with 9 in 10 Financial Advisors active on this social network (LinkedIn). LinkedIn is a hub for growing your advisory firm, strengthening and nurturing your relationships, and building awareness for your business.

Signing up for a LinkedIn account and letting it gather dust will hurt your career – you need to be active on this social network. There are many little changes you can make to optimize your LinkedIn account, as well as many opportunities to engage with other LinkedIn users – more specifically your clients and prospects. Some of these engagement opportunities include:

  • Joining and contributing to relevant LinkedIn Groups
  • Posting updates for your LinkedIn network to see
  • Like and comment with updates made by people in your network
  • And so much more

LinkedIn recently conducted a comprehensive survey of Financial Advisors and found that 75% of Advisors who gained clients from LinkedIn stated that they use the site to improve their referral network. They gathered the top reasons Financial Advisors use LinkedIn, which included:

  1. Building brand identity
  2. Enhancing current client relationships
  3. Staying up-to-date on industry insights
  4. Improving their referral network

In a very digitally-centric world, it is important to acknowledge that as a Financial Advisor, you need to not only have a LinkedIn presence, but an active one at that. You must recognize that ignoring this all-star quarterback of a social media network could hinder your Advisory firm’s success. By staying active on LinkedIn, you could be a social media all-star, reach new prospects and grow your Assets Under Management (AUM).

Financial Advisors: Here’s how to Optimize your LinkedIn Profile in 5 Minutes

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According to Linked Into Leads, 9 in 10 Financial Advisors who use social networks turn to LinkedIn as their go-to social media platform. With over 400 million users on LinkedIn, you should focus on connecting with prospects through this giant of a social media platform.

Here are 4 ways to optimize your LinkedIn profile and convert prospects into clients (I’ve used Veriday’s, VP Product Management, Andrew Chung as an example below):

 

  1. You need a picture of yourself. A great LinkedIn picture is:
  • Clear
  • Professional
  • Eye catching

Financial Advisors: Here's how to Optimize your LinkedIn Profile in 5 Minutes

You want your picture to resemble what you would look like if you were to shake someone’s hand.  Smile and make direct eye contact with the camera so that on an online platform, you mimic that feeling to your audience.

Having an eye catching picture can also increase traffic to your profile. Think of it this way; if you were to search for a Product Manager on LinkedIn and in the search results, had the option of picking between the two pictures below, whose profile would you likely click?

Financial Advisors: Here's how to Optimize your LinkedIn Profile in 5 Minutes

 

  1. Personalize your LinkedIn URL

This a fast and simple step in optimizing your LinkedIn profile. LinkedIn provides each user with a randomized personal link. Customizing your LinkedIn URL will not only improve your SEO, but it will also look better and more professional.

Financial Advisors: Here's how to Optimize your LinkedIn Profile in 5 Minutes

 

  1. What does your headline say about you?

Don’t just put your current job title as your headline, that’s already visible on your profile. Write something that encompasses who you are and what you have to offer. In our example, Andrew Chung’s official role at Veriday is VP, Product Management. Yes, that is his current role – but it’s not the whole story about who Andrew is. Instead he markets himself as a Growth-Driven Product Leader, User Experience Practitioner, and Relentlessly Focused on Customer Success.

Financial Advisors: Here's how to Optimize your LinkedIn Profile in 5 Minutes

 

  1. What contact information have you made available to your connections?

How can people reach you? Including your contact information is critical to further build connections with people on LinkedIn. This provides your connections with a means to contact you outside of LinkedIn, whether it be through a phone number, email, or social media. Being connected on different mediums is great because it allows you to better market yourself to peers, coworkers, and key decision makers in your industry.

Financial Advisors: Here's how to Optimize your LinkedIn Profile in 5 Minutes

 

LinkedIn gives you the ability to connect with hundreds and thousands of key decision makers, prospects, and future clients. So, take 5 minutes out of your day and optimize your LinkedIn profile.

For a more detailed walk-through on optimizing your LinkedIn profile, check out our Webinar, Powering Up Your LinkedIn Presence for Success, which was hosted by Andrew Chung himself.

A Daily 10 Minute LinkedIn Checklist for Advisors

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LinkedIn is a community of business professionals with over 330 million active users; making it the world’s largest professional network. Of LinkedIn’s users, 40% check it daily.

If you don’t have a LinkedIn profile, of course it is not too late to establish a presence but I would consider doing it sooner rather than later. Most likely your competitors have already done so and have begun establishing themselves as thought leaders as well as generating leads in the process. If you haven’t read our post on 5 Quick Ways to Optimize Advisor’s LinkedIn Profiles, check it out first before moving on to this one.

Like other social networks, success on LinkedIn requires that you be present regularly. The Digital FA has provided a quick 10 minutes a day LinkedIn Checklist below for Financial Advisors:

Respond to Messages: Check your LinkedIn inbox just as you do email. Be professional and timely in your responses and make sure your replies are meaningful.   

Share Content: Share links to articles or videos to educate, inform, and empower your connections.

Invite Others to Connect: Invite people you have met to connect with you. Personalize your invitation with a brief message mentioning how you met or reflect on a discussion you had. Avoid using the canned default message for invitations.

Engage: Scan posts made by your connections. If you see something you like, let them know. You don’t need to make a comment every time; give a “like” to their update. Doing so will show you are interested in what others have to say.

See Who Your Connections Are Connecting With: This is a great opportunity to search for potential clients, centers of influence, or other people you want to connect with. Ask your connection to introduce you.

Take Action: LinkedIn provides a great feature that allows you to see when your connections are promoted, leave a company, or were mentioned in the news. Congratulate them on their success and take it a step further by sending a handwritten note. Human interaction still remains valuable.

This is a great checklist to keep your profile up to date and engaging. If you follow this daily checklist, you are sure to increase engagement with your audience and make more connections over time.

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How are you engaging followers on LinkedIn? Share your comments below.