In today’s landscape, social media is not a nice-to-have; it’s a must-have. It is a powerful tool, and when used strategically, these platforms can build brand awareness, nurture leads, and establish you as a thought leader.
But the financial services industry also faces stricter regulations regarding advertising and marketing. Fear not! Here's a breakdown of social media best practices that keep you compliant and your feed flourishing.
Know Your Audience, Tailor Your Content:
- Who are you trying to reach? Young professionals? Retirees? Understanding your target audience helps you craft content that resonates and determine which platform(s) to use. It is not an all-or-nothing approach. Whichever platforms your ideal clients are on are the ones you should be on.
- Focus on financial literacy, not sales pitches. Offer general tips, explain complex terms, or share snippets of success stories that your audience will relate to. Get the same questions repeatedly from clients? Answer them in a short video series, and you will have several days of content.
Content Creation: Refer to our previous blog post about creating valuable content here!
- Create content using AI. You might love to write or create videos, but oftentimes, we see advisors not creating content because they simply don’t have time. AI can help create baseline content that you can then edit to put your unique voice into. Check out tools like ChatGPT and Google’s Gemini. Partner with your Compliance colleagues to align on platform usage and approvals.
- Make it bite-sized. Attention spans are short, so create content that can be consumed in less than a minute, preferably less than 30 seconds. Provide just enough to entice someone to learn more and click that call-to-action.
- Be mindful of testimonials. If you do use them, ensure clients provide written consent beforehand.
- Avoid specific investment recommendations. Steer clear of mentioning specific stocks or portraying past performance as a guarantee of future results.
Engage and Build Trust:
- Respond to comments and questions promptly. This fosters a sense of community and shows you value your followers' input.
- Share industry articles and insights. Position yourself as a knowledgeable resource, not just a salesperson.
- Get personal. Offer your audience insight into what makes you tick, your “why.”
- Run polls and Q&A sessions. Encourage interaction and identify topics your audience is interested in.
Consistency is King (Queen here at WomenShare):
- Develop a content calendar. Plan your posts in advance to ensure a steady stream of valuable content.
- Maintain a professional voice. Avoid humor that could be misconstrued or offensive. But also be yourself!
- Stay up-to-date on compliance regulations. The financial industry landscape can shift, so be sure your social media practices adapt accordingly.
Remember: By prioritizing valuable content, transparency, and engagement, you can leverage social media to build a strong online presence!
