Financial Social Media: What Are You Using?
If the Facebook IPO did anything, it called attention to the power of social media
given the amazing amount of money the social media site raised recently
Facebook is but one of the myriad of choices available to consumers today, bringing our world closer together while facilitating the exchange of ideas and information. In todays world the number of devices that can be utilized is incredible and think of the applications for financial social media. The prominence of financial social media has completely boomed in the past five with many unique outlets dominating the industry. Specific social media devices that can used in financial social media applications include Twitter, LinkedIn, and, of course, blogs, among others. However the aforementioned have shown the most significant influence over followers. Below is an explanation of these outlets and the way that financial social media can be used in each case
Twitter. Twitter is a website in which users create accounts or handles and can follow people in the financial services industry. Once your own twitter handle has gained enough credibility, people who are active in the financial social media world will begin to follow you back. You can influence your followers by tweeting 160 character updates on what you are doing, thinking, etc. In terms of financial social media, Twitter is most effectively used for engaging in conversation with other people in the financial social media world as potential customers. Twitter conversation in the financial social media world mostly revolves around a link to an article about financial services or someone tweeting a question or discussion topic that people can respond to. In the beginning phases of developing your financial social media twitter account, make sure you follow all handles in the financial space and constantly respond to people who have mentioned something you are interested in. Eventually people will follow you back and eventually you will have Twitter credibility.
Facebook. Facebook is more a more informative outlet for financial social media because it can fit a lot more information than Twitter. Be sure to update your Facebook page constantly with information about yourself or your business and add links to articles relevant to your organization so that fans have something to look at and learn when they are on your page. People are always looking to learn so make sure that your page is a place that can inspire people through education.
LinkedIn. Not having a LinkedIn profile might be equivalent of a business having an unlisted phone number. LinkedIn offers a great vehicle for displaying ones credentials as well as intellectual capital given that you can link other services to it such as a Twitter feed. LinkedIn collectively for a firm as well as its various practitioners should be a central part of any
Financial Social Media program.
Blogs. Blogs are by far the most personalized form of financial social media and provide the greatest opportunity for people in the industry to publicize their ideas. There is no limit to how much information you can put on your blog and how often you can update it so do it as often as possible. The more that you update your blog with your thoughts on events taking place in the financial world as well as your ideas and plans for the future, the more often people will check your blog and the more followers you will obtain.
Of course, prior to launching any financial social media campaign, it is advisable to check with counsel to insure that all of the regulations regarding communications are met.
by: Kevin Waddel
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