What are the Demographics?
Category: Attracting Customers
Published: August 4, 2012
Searching for the right method to reach investors… is social media a good idea?
The key question many investment advisors are asking is:
“How do I bring on assets when social media is targeted to the younger crowd?”
It’s impossible and unfair to disagree with the fundamentals of the question. Firms know the clients that produce and those that do not. If you are looking for higher-end investors, not all customers fit your profile. So is social media a way to find those with assets? – Yes.
First, don’t focus too much on “likes”, you want relationships… keep in mind, you are looking for specific types of investors and a buzz about your firm. “Likes” are only a part of the equation. If you need assets, you don’t necessarily need high numbers but deep relationships.
Second, older generations have far-less clutter. The youngest generation who had Facebook in college may have 1,000 friends, but an older generation may only have 50 friends. It is far-easier having your message heard when you have less competition for attention. Many older users read Facebook feeds more like an email inbox, never missing a message.
Next, focus on influencers. You’ve done this for years in your business, now it is time to focus on those people who influence others. Indirect relationships are central to relationship-growth in any business on any platform. If you gain an ear from those who influence other’s investments or even their conversations, you can be successful.
Lastly, take conversations offline. No different than the aside conversations you have on the golf course or taking a client out for coffee, while you cannot discuss investment strategies, you can offer private invitations and notes to pickup a meeting.
Again, if you are looking to gain more assets, your best clients are likely on Facebook and trying to gain value for themselves whether looking to use social media for business or see grandkids pictures.