Four Key Elements of Your Social Media Strategy

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As an adviser, your social media strategy hinges on some of the fundamental elements that are most pertinent to growing your business. These include the geographical distribution of your clients, the online sites clients and prospects most frequently use to gather their investment information, and the types of strategies you have so far used to attract and retain new clients.

In developing a social media strategy, advisers must clearly understand that any effort should be customized to the needs of current and prospect clients. To generate tangible results, such efforts must clearly underscore the most vital distinguishing factors that characterize you and your business. Here are four of the key elements that must be considered when deploying a social media strategy:

  1. Value proposition—Identify your true value proposition, unique strengths and key differentiators that set your practice apart from your direct competitors. Once you have singled out these elements, proceed to clearly and concisely articulate who you are and how you can help solve your clients’ problems. Ultimately, these are the key pieces of information you should convey through a professional blog to capture the attention of prospect clients.
  2. Reputation—As an adviser, you incessantly invest time and resources to raise your profile, build trust and establish credibility. When properly used, blogging and other social media activities become effective vehicles to convey your credibility and reputation to your audience. This is an integral part of your brand-building process and a key aspect of growing your influence. However, always be mindful of what you write or say, as your reputation is on the line.
  3. Asset retention—Like any other activity in your current marketing mix, the effectiveness of a successful social media and blogging strategy is measured by one result: the amount of new assets you have been able to attract. Engaging in a social media program can be time consuming. Consequently, your efforts should not focus on targeting the world but rather securing new introductions through your existing network of connections who are more likely to refer you to like-minded people.
  4. Start where you are—The geographical location of your client base may extend beyond the borders of your city, county, state or country. However, the foundation of your social media program should be laid around the current location of your practice. This will enable you to raise your profile and consolidate your brand with clients and prospects in your local market. Building a solid local foundation will make it easier for you to attain much broader exposure.

Claudio Pannunzio
President
i-Impact Group Inc.
Greenwich, Conn.

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