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Best Practices: Where Social Media Meets Client Acquisition
How easy-to-use, low-cost social media programs are helping asset
managers and advisors stand out in a crowded market




                                                John C. Drachman, Chief Marketing Officer
                                                    Zach Hedges, Chief Technology Officer
                                                                               08.24.10
2



“Like a thousand conversations at once…”




                        Download “1000 Conversations at Once”
                                                                 2
                         white paper from www.advisolocity.com
3



The new cost efficiencies




                            Download “1000 Conversations at Once”    3
                             white paper from www.advisolocity.com
4



Cheaper, better, faster




                          Download “1000 Conversations at Once”    4
                           white paper from www.advisolocity.com
5



What is social media?


 Wikipedia defines social media as “information content created by people using
  highly accessible and scalable publishing technologies.”
 Social media uses social networks, online communities or blogs for marketing,
  sales and public relations purposes.

   Representative social media tools                             Cost
   Blog (Wordpress.com, BlogSpot or equivalent)                    $0
   Twitter (micro-blog site)                                       $0
   Google AdWords (for identifying optimal keywords)               $0
   Linkedin, Twitter, Facebook social networking sites             $0
   Ulitzer, Freepressrelease.com (content aggregators)             $0




                                Download “1000 Conversations at Once”             5
                                 white paper from www.advisolocity.com
6



Small businesses stampede through the social media portal




    Source: University of Maryland’s Smith School of Business

                                               Download “1000 Conversations at Once”    6
                                                white paper from www.advisolocity.com
7



What’s working?


 Diagnose who’s following you now
 Establish a thought leadership theme and key word phrases
 Determine who you are trying to reach; your audience may be broader than
  you think
 Describe what makes you different
 Measure the results of your efforts to determine the ROI you receive from
  increased Internet traffic
 Gather and create the content you need
 Link your content to blog, web site and networks
 Make it easier for your audience to find you and engage with your ideas
 Measure your success; turn suspects into prospects




                               Download “1000 Conversations at Once”          7
                                white paper from www.advisolocity.com
8



Diagnose who’s following you now




                       Download “1000 Conversations at Once”    8
                        white paper from www.advisolocity.com
9



Diagnose who’s following you now




                       Download “1000 Conversations at Once”    9
                        white paper from www.advisolocity.com
10



Establish a thought leadership theme and key word phrases




                        Download “1000 Conversations at Once”    10
                         white paper from www.advisolocity.com
11



Third-party blogging




                       Download “1000 Conversations at Once”    11
                        white paper from www.advisolocity.com
12



Aggregate your content




                         Download “1000 Conversations at Once”    12
                          white paper from www.advisolocity.com
13



The holy grail: Google page 1




                        Download “1000 Conversations at Once”    13
                         white paper from www.advisolocity.com
Expanding presence: Google page1 dominance for key words



                                                 I need to know more
                                                 about performance
                                                 shares before I
                                                 accept this great new
                                                 job.




                       Download “1000 Conversations at Once”
                        white paper from www.advisolocity.com
15



Define opportunity; determine who you are trying to reach


 Pre-retirement opportunity
    In-service non-hardship employee withdrawals may represent a distinctive
     opportunity for Pinnacle Hills
 Employ this theme as part of a social media and networking strategy
 The goal of the strategy is to motivate plan participants, investors,
  sponsors, centers of influence and the press to:
    Contact Braden Hill for more information
    Download a four-page white paper
   Attract more interest and assets to the firm
    Begin laying the groundwork for a longer-term peer networking strategy for
     Pinnacle Hills




                                   Download “1000 Conversations at Once”          15
                                    white paper from www.advisolocity.com
16



Describe what makes you different


 What are your primary differentiators?
   1.   ________________________
   2.   ________________________
   3.   ________________________
   4.   ________________________
   5.   ________________________




                              Download “1000 Conversations at Once”    16
                               white paper from www.advisolocity.com
17



Gather and create the content to support your message


  Write a white paper This piece should be based on an idea or theme that
  represents the best of your organization and its capabilities.
  Build a blog Your blog acts as the focal point for your ideas. Many popular,
  professional-looking blog templates are available at www.wordpress.com or
  www.blogspot.com
  Write posts Consider drafting six in a row to get started
  Host a webinar Webinar hosting services like BrightTalk make it easy to set
  up your webinar to attract new interest.
  Network Link your content to the micro-blog site Twitter and social networking
  sites like LinkedIn and FaceBook to allow others a chance to expand your
  presence, after they engage with your ideas.
  Webcasts These can be repeats of a webinar you have already conducted. A
  webcast allows new individuals to see your webinar and can be sent out in
  posts or included in networks
  Videos Streaming videos are becoming more and more popular. It is not
  uncommon for prospects to consider looking at an advisor’s video to see if the
  personality fit is right for them


                              Download “1000 Conversations at Once”           17
                               white paper from www.advisolocity.com
18



Link your content to blog, web site and networks

 A social media rule of thumb
  is to rely on your site to act
  as your “store” of
  representative products and
  services, while your blog
  serves as your portal to
  your ideas and themes.
 Together, your site and blog
  can well represent what
  your firm stands for, your
  underlying mission, as well
  as your products and
  services.




                                   Download “1000 Conversations at Once”    18
                                    white paper from www.advisolocity.com
19




Blogging for thought leadership; web site for sales

                       Web site showcases
                       products, services, performance
                       updates…




           … While blog highlights
           themes, ideas, engages
           constituencies in
           conversations



                                                         19
“Don’t talk to me about contact capture, I want lead generation”
                                                                  Client “X”




                         Download “1000 Conversations at Once”
                          white paper from www.advisolocity.com
21



What are qualities of SFG suspects?


1. $1 million >$10 million in net worth
2. May require more leadership in their financial matters
3. Do not know that SFG could help




                                Download “1000 Conversations at Once”
                                 white paper from www.advisolocity.com
22



Measure the results of your efforts


 Suspects How many suspects – individuals who have a need for your
  products and services, but don’t know you exist -- visited your site recently?
 Prospects How many suspects did you convert to prospects – defined as
  individuals who did not yet buy your product, but self-identified themselves
  through one of your publication downloads, subscriptions or other actions that
  allowed you to capture the contact’s identity?
 Clients How many prospects did you convert to clients?
 Advocates How many clients have your converted to advocates – individuals
  who have purchased two or more products, provided referrals or exerted any
  other positive influence on your behalf?




                                Download “1000 Conversations at Once”              22
                                 white paper from www.advisolocity.com
23



Getting to know Jane Smith, prospect

  Automate the
   messaging process
   according to Jane          Suspects
   Smith’s interests


                              Prospects



                               Clients




                               SEI WN



                                          23
24



Getting to know Jane Smith, prospect




                                       Integrated messaging:
                                       • E-mail
                                       • Video
                                       • Public relations
                                       • Digital marketing
                                       • Social media
       SFG                             • Blogging
                                       • SEO
                                       • Marketing
                                           communications
                                                               24
25



Measuring results




                    25
26



Measuring results


Engage HNW only
    Gained new clients
    Expanded relationship with some existing

Business development
    Netted approximately $36,000 in new
     and ongoing fees
    Some $4.0 million in new AUM
    Timeframe: Eight weeks
    “Overall we are very pleased with the
     results of the Webinar Series and expect
     21 of the new prospects to eventually
     contact SFG for services” Charles
     “Chuck” Steege, CFP® SFG Wealth
     Planning Services, Inc.




                                  Download “1000 Conversations at Once”    26
                                   white paper from www.advisolocity.com
Most important…



                                          …Just get started




                  Download “1000 Conversations at Once”
                   white paper from www.advisolocity.com

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Where client acquisition meets social media

  • 1. Best Practices: Where Social Media Meets Client Acquisition How easy-to-use, low-cost social media programs are helping asset managers and advisors stand out in a crowded market  John C. Drachman, Chief Marketing Officer  Zach Hedges, Chief Technology Officer  08.24.10
  • 2. 2 “Like a thousand conversations at once…” Download “1000 Conversations at Once” 2 white paper from www.advisolocity.com
  • 3. 3 The new cost efficiencies Download “1000 Conversations at Once” 3 white paper from www.advisolocity.com
  • 4. 4 Cheaper, better, faster Download “1000 Conversations at Once” 4 white paper from www.advisolocity.com
  • 5. 5 What is social media?  Wikipedia defines social media as “information content created by people using highly accessible and scalable publishing technologies.”  Social media uses social networks, online communities or blogs for marketing, sales and public relations purposes. Representative social media tools Cost Blog (Wordpress.com, BlogSpot or equivalent) $0 Twitter (micro-blog site) $0 Google AdWords (for identifying optimal keywords) $0 Linkedin, Twitter, Facebook social networking sites $0 Ulitzer, Freepressrelease.com (content aggregators) $0 Download “1000 Conversations at Once” 5 white paper from www.advisolocity.com
  • 6. 6 Small businesses stampede through the social media portal Source: University of Maryland’s Smith School of Business Download “1000 Conversations at Once” 6 white paper from www.advisolocity.com
  • 7. 7 What’s working?  Diagnose who’s following you now  Establish a thought leadership theme and key word phrases  Determine who you are trying to reach; your audience may be broader than you think  Describe what makes you different  Measure the results of your efforts to determine the ROI you receive from increased Internet traffic  Gather and create the content you need  Link your content to blog, web site and networks  Make it easier for your audience to find you and engage with your ideas  Measure your success; turn suspects into prospects Download “1000 Conversations at Once” 7 white paper from www.advisolocity.com
  • 8. 8 Diagnose who’s following you now Download “1000 Conversations at Once” 8 white paper from www.advisolocity.com
  • 9. 9 Diagnose who’s following you now Download “1000 Conversations at Once” 9 white paper from www.advisolocity.com
  • 10. 10 Establish a thought leadership theme and key word phrases Download “1000 Conversations at Once” 10 white paper from www.advisolocity.com
  • 11. 11 Third-party blogging Download “1000 Conversations at Once” 11 white paper from www.advisolocity.com
  • 12. 12 Aggregate your content Download “1000 Conversations at Once” 12 white paper from www.advisolocity.com
  • 13. 13 The holy grail: Google page 1 Download “1000 Conversations at Once” 13 white paper from www.advisolocity.com
  • 14. Expanding presence: Google page1 dominance for key words I need to know more about performance shares before I accept this great new job. Download “1000 Conversations at Once” white paper from www.advisolocity.com
  • 15. 15 Define opportunity; determine who you are trying to reach  Pre-retirement opportunity  In-service non-hardship employee withdrawals may represent a distinctive opportunity for Pinnacle Hills  Employ this theme as part of a social media and networking strategy  The goal of the strategy is to motivate plan participants, investors, sponsors, centers of influence and the press to:  Contact Braden Hill for more information  Download a four-page white paper Attract more interest and assets to the firm  Begin laying the groundwork for a longer-term peer networking strategy for Pinnacle Hills Download “1000 Conversations at Once” 15 white paper from www.advisolocity.com
  • 16. 16 Describe what makes you different  What are your primary differentiators? 1. ________________________ 2. ________________________ 3. ________________________ 4. ________________________ 5. ________________________ Download “1000 Conversations at Once” 16 white paper from www.advisolocity.com
  • 17. 17 Gather and create the content to support your message Write a white paper This piece should be based on an idea or theme that represents the best of your organization and its capabilities. Build a blog Your blog acts as the focal point for your ideas. Many popular, professional-looking blog templates are available at www.wordpress.com or www.blogspot.com Write posts Consider drafting six in a row to get started Host a webinar Webinar hosting services like BrightTalk make it easy to set up your webinar to attract new interest. Network Link your content to the micro-blog site Twitter and social networking sites like LinkedIn and FaceBook to allow others a chance to expand your presence, after they engage with your ideas. Webcasts These can be repeats of a webinar you have already conducted. A webcast allows new individuals to see your webinar and can be sent out in posts or included in networks Videos Streaming videos are becoming more and more popular. It is not uncommon for prospects to consider looking at an advisor’s video to see if the personality fit is right for them Download “1000 Conversations at Once” 17 white paper from www.advisolocity.com
  • 18. 18 Link your content to blog, web site and networks  A social media rule of thumb is to rely on your site to act as your “store” of representative products and services, while your blog serves as your portal to your ideas and themes.  Together, your site and blog can well represent what your firm stands for, your underlying mission, as well as your products and services. Download “1000 Conversations at Once” 18 white paper from www.advisolocity.com
  • 19. 19 Blogging for thought leadership; web site for sales Web site showcases products, services, performance updates… … While blog highlights themes, ideas, engages constituencies in conversations 19
  • 20. “Don’t talk to me about contact capture, I want lead generation” Client “X” Download “1000 Conversations at Once” white paper from www.advisolocity.com
  • 21. 21 What are qualities of SFG suspects? 1. $1 million >$10 million in net worth 2. May require more leadership in their financial matters 3. Do not know that SFG could help Download “1000 Conversations at Once” white paper from www.advisolocity.com
  • 22. 22 Measure the results of your efforts  Suspects How many suspects – individuals who have a need for your products and services, but don’t know you exist -- visited your site recently?  Prospects How many suspects did you convert to prospects – defined as individuals who did not yet buy your product, but self-identified themselves through one of your publication downloads, subscriptions or other actions that allowed you to capture the contact’s identity?  Clients How many prospects did you convert to clients?  Advocates How many clients have your converted to advocates – individuals who have purchased two or more products, provided referrals or exerted any other positive influence on your behalf? Download “1000 Conversations at Once” 22 white paper from www.advisolocity.com
  • 23. 23 Getting to know Jane Smith, prospect  Automate the messaging process according to Jane Suspects Smith’s interests Prospects Clients SEI WN 23
  • 24. 24 Getting to know Jane Smith, prospect Integrated messaging: • E-mail • Video • Public relations • Digital marketing • Social media SFG • Blogging • SEO • Marketing communications 24
  • 26. 26 Measuring results Engage HNW only  Gained new clients  Expanded relationship with some existing Business development  Netted approximately $36,000 in new and ongoing fees  Some $4.0 million in new AUM  Timeframe: Eight weeks  “Overall we are very pleased with the results of the Webinar Series and expect 21 of the new prospects to eventually contact SFG for services” Charles “Chuck” Steege, CFP® SFG Wealth Planning Services, Inc. Download “1000 Conversations at Once” 26 white paper from www.advisolocity.com
  • 27. Most important… …Just get started Download “1000 Conversations at Once” white paper from www.advisolocity.com