The webinar discusses how financial advisors can leverage social media networks to build their business, noting that search engines are the primary way consumers find information online and social media allows advisors to improve their search engine optimization. It provides an overview of key social media strategies for professionals, including cultivating trust through consistency and transparency, defining a personal brand, and allowing social media to transform their business by listening to customers. The presentation also covers popular social media tools and how to hedge risks by establishing presences on major sites.

1. Understanding Social Media Networks for
Financial Advisors
Webinar - November 9, 2011
Presented by Jay Palter

2. Who is this guy?
• Email since1989, blogging since 2003
• Entrepreneur and business owner
• Life-licensed insurance professional
• Advisor.ca Social media columnist

3. Overview
• Primacy of search
• What is social media anyway?
• Impact on business culture
• Strategic considerations for professionals
• Crowdsourcing knowledge
• Questions

4. Search

5. Search
93
% of consumers worldwide that use search engines
to find and access websites.
Source: Forrester Research
85
% of qualified Internet traffic is driven through
search engines.
Source: Seventh WWW User Survey - Georgia Institute of Technology
75
% of search engine users who never scroll past the
first page of results.
Source: Seventh WWW User Survey - Georgia Institute of Technology

6. Owned
Owned
Paid
Owned
Earned
Earned
Owned
Earned
Earned

7. What does this mean?
• Eventually, everyone is “Googled”
• Website is small part of online presence
• Social media engagement improves search
engine optimization
• Web search is the end of forgetting
• Can’t control search results

8. Social Media:
a definition

9. Social Media is...
A synthesis of new and traditional media
that incorporates advertising,
public relations, customer service,
marketing, sales, and community relations.
It’s disruptive.
It’s about human sociology.
It’s enabled by technology.

10. Once upon a time...
our media choices were limited.
+ +

11. Today, our media options
are virtually unlimited.
And growing.

12. Driven by content
social media
comments articles
feedback charts
criticism pictures
analysis videos
sharing/curation ads/creative
discussion slide decks
user created doodles

14. Old vs. New Media
Old media New media
Mass, one-to-many Micro, many-to-many
Monologue Dialogue
Closed Open

16. Demographics

17. Work force changes

18. Demographics

21. Strategies
for building trust

22. 5 social branding strategies
➊ Be the values you espouse
➋ Cultivate trust and credibility
➌ Define personal brand
➍ Do business in real time
➎ Allow social to transform

23. ➊ Be values you espouse
• Consistency
• Responsiveness
• Excellence and quality
• Listening
• Transparency

24. ➋ Cultivate Trust
T = (C x R x I)/S
Credibility X Reliability X Intimacy
Trust = ___________________________________
Self-orientation
Source:s Brogan and Smith -Trust Agents Maister, Galford and Green - The Trusted Advisor

25. Trust must be earned.
• Credibility is built by...
• Creating quality
• Sharing others’ content
• Consistency and reliability is built by...
• Responding, being present
• Sticking to it, no quitting

26. Trust cannot be bought.
• Intimacy is built by...
• Sharing personality
• Showing what you care about, what makes you tick
• Unselfishness is demonstrated by
• Helpfulness online
• Giving without asking for anything back

28. ➌ Build personal brand
Personal is professional.
Relationships are
grounded in personality.

29. ➍ Do business in real time
• Social and mobile technologies have
shortened news cycle
• Business leaders need to respond and
empower employees to do so
• Pay attention in order to leverage
opportunities

30. ➎ Social will transform
• Listening is the mantra of social media
• Hearing means allowing it to change us
• Customers will tell us what they want
• Then we just have to do it

31. Popular Tools

32. Warning
Do not participate in any social media
activities without prior consultation
with your firm’s compliance
department.

33. Crowdsourced knowledge
find and be found
follow and stay informed
read and be influenced
learn from the kids

34. 3 steps to hedge your bets:
• Get a Google account (you@gmail.com)
• Get your domain names (.ca and .com)
• Register at major social media sites

35. The influence economy
• Social capital - money can’t buy it
• People - not firms - influence people
• Goal of influence: brand ambassadors
• Influence scoring tools are exploding

36. Knowledge
Older Adults and Social Media (Pew)
http://www.pewinternet.org/Reports/2010/Older-Adults-and-Social-Media/
Report.aspx
Winning the Battle for the Wealthy Investor
(Cisco)
http://www.cisco.com/web/about/ac79/docs/Wealth-Management-Full-
Study.pdf
Marketing Investment Solutions to Gen Y
(Advisolocity)
http://www.cisco.com/web/about/ac79/docs/Wealth-Management-Full-
Study.pdf

37. Presented by
Jay Palter
Web: palter.ca/web
Blog: jaypalter.ca
Email: jay@palter.ca
Twitter: @jaypalter
Mobile: 780-868-8433
Web: accretiveadvisor.com
Twitter: @accretiveinvest
LinkedIn: Accretive Advisor group
Toll free: 1-877-516-0113
Email: jpalter@accretiveadvisor.com