Why Most Financial Professionals Simply Don’t Get It When it Comes to Social Networking

Four Key Reasons Most Financial Professionals Don’t “Get It” When It Comes To Social Networking social network

Most of the Financial Professionals I have talked to seem to be saying the same thing: “I really don’t get this social networking thing“. Well if you don’t get it, my strong suggestion is…YOU BETTER GET IT!

Why? Because there are two things we know to be true:

1. PEOPLE TALK

2. WE KNOW EXACTLY WHERE THEY ARE TALKING THESE DAYS

All you have to do is take a look at these eye-opening growth statistics and you can clearly see why this new opportunity for your business simply cannot be overlooked or ignored:

  • Facebook has over 300 Million users, and about 600,000 join every day
  • 50% of Facebook users are online every single day
  • The two fastest growing segments are people ages 35 to 55 and women ages 50 and older
  • LinkedIn, MySpace, and Twitter have over 150 Million users
  • Twitter’s growth rate is currently over 750%

IT JUST MAKES SENSE:

If you take a look at the business relationships you treasure the most, they mainly consist of your family, friends, loved ones, co-workers and many other people who directly or indirectly support the growth of your business. The truth is that one of the key ingredients to a successful business is the ability to build and maintain high-quality, meaningful, and credible relationships with their clients and within their community. I’m sure this sounds familiar, because THIS IS THE ESSENCE OF SOCIAL NETWORKING!

WHAT’S IN IT FOR YOU AND YOUR BUSINESS?

If used properly, social networking becomes an excellent supplemental marketing strategy, serving as the perfect complement to your existing business plan. The reason why is because it is an extremely low-cost way to expose yourself and your business to the most popular places on the Internet, which directly connects you to the various communities, organizations, and groups that you care about.

From what I can conclude, there are essentially five key benefits:

1. Increase your business exposure and visibility

2. Improve your reputation and credibility

3. Increase brand identity and recognition

4. Enhance awareness of your products or services

5. Provide the opportunity to build a network of people and see this network exponentially growth…because PEOPLE TALK are constantly hearing from and talking about YOU

NOW FOR THE BAD NEWS:

Many studies, including ones in which I have personally conducted, prove that most financial professionals simply don’t have what they need to be truly successful in Social Networking, and I have broken all of these details that should hopefully help each of us:

FOUR KEY REASONS MOST FINANCIAL PROFESSIONALS MAY NEVER REALLY “GET IT”

1. DESIRE:

  • Most financial professionals enjoy doing key things in their spare time that they are passionate about, such as their careers, hobbies, family, faith, sports, traveling, or whatever makes them genuinely happy.
  • Surveys show that Social Networking is at the bottom of this list of passions.
  • Most professionals today lack the time, skills, and most importantly, the inclination (or that “burning desire”) to build, cultivate, and maintain a successful social network…particularly on an ongoing basis. In other words, this is not something most financial professionals “choose to do”, but rather they feel like the “have to do it”.
  • Every Social Network expert will tell you that success is largely driven in social networking through your ability to constantly offer new, valuable, and useful information and ideas. In fact, this is by far, their biggest challenge in working with their clients, since most don’t have enough content and materials to continuously educate your social networks.
  • The reality is that most financial professionals are not gifted or skilled writers or editors, not only for their own industry, but particularly in designing pieces that fit well within the guidelines and purposes of social networks
  • Also, most financial professionals are not familiar with exactly what to write about, what topics to write about, how often to write about new topics, and how often to submit this information to these networks.

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