How Financial Services brands: life, pension, investment and protection providers can use Social Media, LinkedIn and conversational marketing to engage with IFAs and financial advisers online. Contact Philip Calvert for information on conference speaking, in-house training and consultancy for Financial Services and regulated industries. http://www.philipcalvert.com and http://www.ifalife.com

1. Social Media for Financial
Services Providers: How to
Engage with IFAs online
(Slide copy version)
Philip Calvert
IFA Life
#SocialMediaFS
www.ifalife.com
www.philipcalvert.com

2. Introductions
• Who are you?
• Your current biggest
marketing challenge?
• What appeals to you about
Social Media?
• How are you using it?
• Concerns?
• Fun outside work?

3. Philip Calvert
• 34 years in Financial Services; 25
with Providers
• 9 consulting and building
communities online
• Social Media
• Surrey
• Kickboxing and
Photography

4. What should be lesson number 1 for
the Providers here today?
• You’re late!
• Stop talking, start listening
• Join in with the online conversation, don’t sit
on the sidelines
• It’s not a silver bullet for all your
communication issues
• Stop talking about Social Media; start doing it

5. What should be lesson number 1 for
the Providers here today?
• Social Media is just one channel and will only
be useful if the people you want to
communicate with are engaged
• Show your human side rather than a bland
and faceless corporate image
• Trust your staff
• Get a presence and start interacting with your
audience

6. [Source: unknown]

7. Why is Social Media important?

8. Why are firms resistant to using Social
Media – internally and externally?
• Risk
• Fear
• Reputation and Brand
• Time wasting
• Compliance
• Fear of loss of control
• Internal comms jobs
• Education gap

9. Imagine...
• If your company hadn’t adopted email
• If you didn’t have a website
• If your sales people hadn’t been given
mobile phones

10. Change…
Just imagine…

11. Social Media explained
Forget “Social Media”.
Remember Image, Identity and
Reputation Management.

12. Social Media explained
Forget “Social Media”.
Remember Image, Identity and
Reputation Management.
LinkedIn is a key component of your
Trust Development Toolkit.

15. Image Management tools
• Google Places
• YouTube
• Blog
• LinkedIn
• Facebook
• Twitter
• Google +
• Ecademy
• Pinterest
• Slideshare
• EventBrite
• Foursquare
• Phone App

16. The Pitfalls of Social Media

18. The problem with customers
• They have too many choices
• You don’t stand out enough
• They don’t have enough time
• The Internet is seen as a shortcut
• You don’t stand out enough online

19. Perceptions of IFAs and the Industry
“I don’t like my financial adviser.
Apart from the fact that he has
grey hairs sticking out of his nose,
I don’t believe a word he says and
I don’t trust him.”

20. Perceptions of IFAs and the Industry
“I don’t like my financial adviser.
Apart from the fact that he has
grey hairs sticking out of his nose,
I don’t believe a word he says and
I don’t trust him.”
“Every time he comes round he
tries to sell me a policy and I
always do what he says because I
feel I ought to.”

21. Financial Advisers struggling to get noticed
• 29% believe their knowledge is as good
Compeer March 2009 Financial DIY Report

22. Financial Advisers struggling to get noticed
• 29% believe their knowledge is as good
• 34% believe that ‘advice’ is a disguise for ‘sales’
Compeer March 2009 Financial DIY Report

23. Financial Advisers struggling to get noticed
• 29% believe their knowledge is as good
• 34% believe that ‘advice’ is a disguise for ‘sales’
• 38% don’t believe advisers add enough value to
justify their fees
Compeer March 2009 Financial DIY Report

24. Financial Advisers struggling to get noticed
• 29% believe their knowledge is as good
• 34% believe that ‘advice’ is a disguise for ‘sales’
• 38% don’t believe advisers add enough value to
justify their fees
• 44% view the Internet as ‘an essential source of
financial information and advice’
Compeer March 2009 Financial DIY Report

25. Financial Advisers struggling to get noticed
• 29% believe their knowledge is as good
• 34% believe that ‘advice’ is a disguise for ‘sales’
• 38% don’t believe advisers add enough value to
justify their fees
• 44% view the Internet as ‘an essential source of
financial information and advice’
But...
Compeer March 2009 Financial DIY Report

26. Financial Advisers struggling to get noticed
• Consumers still want access to their expertise
• They don’t always want to meet them
– Permanent Insurance

27. Financial Advisers struggling to get noticed
• Consumers still want access to their expertise
• They don’t always want to meet them
– Permanent Insurance
• Are Financial Planners, Solicitors and Doctors under
threat from the Internet?

28. Tell us something we don’t already know

29. Tell us something we don’t already know

30. Tell us something we don’t already know

31. Tell us something we don’t already know

32. Differentiate or Die

33. What are you doing to get noticed?

37. Your Differentiation Plan
• In the industry
• In your community
• In your niche
Your most powerful differentiator is...

39. YOU!

40. How do consumers find
and choose an IFA?

41. The key marketing elements post RDR
• Credibility
• Clarity
• Trustworthiness
• Differentiation
• Appealing (Irresistible)
• Advocates
• Personalised

42. Social Media – all about Marketing?

43. Social Media – all about Marketing?
• To listen
• Improve knowledge
• Share best practice
• Thought leadership
• Networking/Relationships
• Search engines/traffic
• Collaboration
• Engage
• Comment/share expertise
• Add value/contribute to
discussions

44. Social Media – all about Marketing?
• Cement relationships
• To listen • Brand loyalty and buzz
• Improve knowledge • Customer service
• Share best practice • Identify influencers
• Thought leadership • Promotion/Sales
• Networking/Relationships • Idea feedback
• Search engines/traffic • Build Community
• Collaboration • Show a human face
• Engage • Events
• Comment/share expertise • PR
• Add value/contribute to • Recruitment
discussions
• Employee engagement

45. “Our greatest asset is our staff”

46. “Our greatest asset is our staff”
"The use of workers to humanize corporate entities has been a
time-honored marketing tradition, of course.
But in an era of Web 2.0 transparency, their visibility takes on
greater meaning, signalling the higher importance of customer
service in the marketing mix... staffers offer a kind of peer
credibility as corporate advocates.“
Noreen O'Leary in AdWeek

47. But do we trust them enough to
allow use of Social Media to
communicate with:
Customers
Stakeholders
Each other?!

49. How do staff/employees/colleagues
currently communicate?
• Email
• Face to face
• Telephone/SMS/BBM
• Skype and Video
• Coffee machine
• Hallways
• Lunchtime
• Pub
• Sports and Social
• Official meetings/briefings

50. Social Media – internal benefits
• Better engagement = better
performance • Competitions
• Engages younger staff • Increase collaboration
• Retains good performers • Creates sense of Community
• A new staff benefit/motivator • Weekend Warriors
• Evidence of open and trusting • Vacancies become more
management engaging
• Quick and easy communications • Easy to identify Brand
• Fast and honest feedback ambassadors
• Ideas hub • Easy to identify good
communicators
• Humanises management /
Reduces corporate speak

51. Social Media – internal benefits
• Don’t accept “No” for an
answer from Management • Better engagement = better
performance
• Train Management if they
• Start small
don’t understand it
• Forget the tool (Twitter etc)
– What the tools are
• Ask what employees would find
– What the tools do useful
– Why Social is important • Expect very little engagement
• “Communication is King” at the start

52. Social Media – identifying Brand
Ambassadors
• They ‘get’ and use Social Media
• Good communicators
• They are open, random and
• They ‘get’ the objective of the supportive online
Brand
• They can articulate the dangers
• Can articulate the objective
• They can tell stories
• They evangelise the brand
• They are trustworthy
• Strong sense of Mission/Vision
• At ease with all levels of
• Consistent in behaviours Management – internally and
• Factually accurate in externally
communications • They know competitors’ products
• Can handle pressure • Keen to give feedback on own
• Can handle argumentative people performance
• Relaxed and friendly – but get • Fizzing with ideas and quick
things done witted

53. Points to think about
• Social Media policy throughout
• Everyone is an ambassador
• Guidelines for stepping outside
• You won’t get it perfect
policy (and who)
• Requires leadership and the
• Leap of faith for Management
ability to trust staff
• How to reward ambassadors
• Special approach for Key
• How to measure performance Accounts
• Management are watching and • Don’t introduce it without some
listening closely sort of plan
• Does the company culture and • Don’t plan anything!
tone match the messages?
• Don’t expect results overnight
• Ambassadors can become
• This is not a replacement for
‘celebrities’
traditional staff communication
• Have a defensive strategy for channels
when someone is offended

54. www.ifalife.com

55. How to Leverage LinkedIn

56. What is

57. What is
• May 2003
• 175m users. 2 members per second • A HUGE mine of data.
• 200 countries, 10 languages All LI products help you
• 21 m visits pm (US) (47m globally) leverage that data
• Up 63% on 2010
• 50% in US, 9+ million in UK • Invest time because it’s
• Viadeo (35m), Xing (10m), Fast Pitch, a People Search Engine
Ecademy
• Shift from a Jobs site to real-time
networking
• 1 m groups
• 2 m company pages
• Value: $1.5 - $2 bn
• Mobile 2008. 400% growth in page
views per year

58. Active user
Name
accounts
Facebook 750 million
Tencent QQ 674 million
Qzone 480 million
Netease 360 million
Windows Live
330+ million
Messenger
Tencent Weibo 233 million
Habbo 203 million
Twitter 200 million
Sina Weibo 200 million
Skype 145 million
Vkontakte 135+ million
Badoo 121+ million
Orkut 120+ million
Bebo 117 million
LinkedIn 175+ million

59. Why are you on LinkedIn?
• Find contacts
• Find likeminded
• Share contacts
• Highlight expertise
• Shape your personal brand
• Get/give answers
• Get/give company news
• Find/advertise jobs
• Find/promote events

60. Why are you on LinkedIn?
• Find contacts • Share status
• Find likeminded
• Find personalised news
• Share contacts
• Highlight expertise
• Career discussions
• Shape your personal brand • Build Community
• Get/give answers • Search topics and
• Get/give company news people
• Find/advertise jobs • SEO
• Find/promote events • Share content

61. Why are you on LinkedIn?
• Find contacts
– Don’t be lazy when
connecting!
– Personalise your
message

62. Invest time in your Profile
• People Search Engine
• Looking for contacts & expertise – not friends!
• Professional credibility
• Differentiation
• “People Buy People”
• Shape your personal brand

63. Invest time in your Profile
Art Flater

64. Invest time in your Profile
“Specialties: Exceptionally good with sarcastic,
smart ass remarks.”
“Able to sit in my chair for extended periods of time
without numbness or fatigue.”
“Invented the 2 hour lunch break, which has been adapted by sales slackers
everywhere.”
“Attempted to train dealer staff until I realized most were too stupid to accept
the training. Once I realized that fact, I would just take them to lunch.”
Art Flater

65. Invest time in your Profile
“Sat on my chair and bitched at sales reps.”
“Sometimes I make a sales call.”
“Went to lunch a lot.”
“I avoid meaningful engagement and work, if at all possible.”
“Talked on the phone and hung out. Took credit for others accomplishments.”
Art Flater

66. Invest time in your Profile
• Check visibility > Philip’s Activity > edit

67. Invest time in your Profile
• Check visibility > Philip’s Activity > edit

68. Invest time in your Profile
• Monitor your profile

69. Invest time in your Profile
Pro tip: Thank people who look at your profile

70. ...as a Search Engine.

71. Search: IFA

72. Search:
Financial
Planner

73. Profile
• Decide your keywords – Very important
• Add them to these key profile sections:
– Headline
• Interests
– Current work
• Skills
– Past work
• Honours and Awards
– Website
• Groups and Associations
– Public profile URL
• Add extra sections
– Summary
– Specialities
– Contact settings

74. Note the keywords in name and summary

76. 1. Note the keywords

77. 1. Note the keywords
2. Customise your profile URL

80. Add keywords near the top of your
Summary section

81. Include keywords in your Specialties

82. Include keywords in the Experience section

83. Show your
human side
by adding
non-work
interests –
plus a
couple of
keywords of
course!

84. Contact Tina
Include a couple of keywords in your Contact details too

85. Contact Art
Humour works too!

86. Profile add ins
• Applications • More Applications
– Events – Company Buzz
– Polls – Amazon reading list
– Projects – Box.net
– Trips – Google presentations
– WordPress blog – iPhone App
– SlideShare – Paid advertisements
Change the order to suit what
you want people to see

87. Events

88. Events

89. Events
Choose Event
Keywords

90. Events
First page
Google results

91. Presentations
Pulls in your
presentations
from
SlideShare

92. Skills
Add Skills to your profile. LinkedIn will show
you a wealth of related resources...

93. Skills

94. Skills – Art Flater

95. Profile add ins
• Applications • More Applications
– Events – Company Buzz
– Polls – Amazon reading list
– Projects – Box.net
– Trips – Google presentations
– WordPress blog – iPhone
– SlideShare – QR codes
Change the order to suit what
you want people to see

97. Companies

98. Companies
• Build followers by
– Adding value
– Engaging
– Informing
• They may never become customers...
• But are
– Your network
– Your advocates

99. Companies
• Promote your company page
– Phone
– Email
– Letters
– Business cards
– LinkedIn group
– Facebook etc
– Presentations

100. Companies
Follow button for your website, blog etc

101. Companies
Status Updates of 500 characters

102. Companies

103. Companies
Status Updates of 500 characters

104. Companies
Measure what works

105. Companies
Pro tips
• Keep it short • Test what works
• Occasionally ask questions – Topic types
– Questions
• Include a link
– News
• Include an image
– Articles
• Be different and intriguing – Contests
• How-to articles – Events
• ‘Like’ competitions – Day and Time
– Style and Tone
• Ask for a ‘Like’

106. Companies Measure what works
Also:
Compare against similar companies
Check your website visits from LinkedIn

107. Answers A powerful way to prove your expertise
• More tab > Answers
• Enhance and recognise perception of
expertise

108. News Personalised news based on your profile page
• News tab at top
• Personalised –
suggested categories
– Major headlines
– Financial Services
– Marketing
– Etc
• Save articles

109. News Personalised news based on your profile page

110. Groups
• Build your own Social Network
and Community around you
• Join (50) and/or create your own
• Groups tab > Groups you may like
• Join groups that your target markets join
• “Feed the fish and they’ll keep coming back”
• Promote your group on other Social sites

111. Apps and Misc

112. Apps and Misc

113. Apps and Misc

114. Apps and Misc

115. Apps and Misc

116. Apps and Misc

118. Stuck?
• Learning centre: http://learn.linkedin.com/
• Under the ‘More’ tab

119. Social Media Conference
Speaking and Consultancy
philip@ifalife.com
www.ifalife.com
www.philipcalvert.com
@IFALife
@PhilipCalvert