Likely to be the most valuable and limited of your resources, time is getting harder and harder to come by.  However, this should not be an impediment to the development and maintenance of a social media strategy.  Initially, the implementation of a social strategy will demand more of your time as you develop the infrastructure of your strategy, and determine what platforms you will be using, and how often you will be posting.  If you are writing a blog or creating unique content, more time will be dedicated to the writing process and to respond to comments and feedback.  The good news is, that once you’ve established your platforms and a process for posting and sharing of information, you’ll reduced the amount of time as you maintain your presence online. Over time you will grow your target audience by sharing your thought leadership via creative content, or the curation of information you find on-line that resonates with your followers and fans.  It works best if you can create social media blocks of time either early in the morning or late in the afternoon to post, respond and listen to the interactions that interest you and your clients.

Access to social media tools will mean nothing if you are not inclined to use them.  Inclination means you have the discipline to prioritize social media and make it a part of your overall marketing strategy.  The good news for most advisors is- you’ve been doing it all along.  Adoption of social media does not mean you abandon what has been working for you in the past, it just means you find a way to digitize the same process and approach.  For example, as an advisor, I enjoyed attending chamber mixers and other events where I would meet local business owners and potential clients for 401(k) business and retirement planning.  After the event, I would follow up with the potential clients I met at the mixer and ask for an appointment or gain permission to add them to my marketing distribution list for newsletters and content that I thought would add value to their business and planning needs.  Today, applying the same ideas in the digital space would mean finding a way to connect with the business owners through my social media platforms such as LinkedIn, Facebook or Twitter.  In turn, I would invite them to do the same with me.  Inclination also means that you’ve bought into the process and understand that a social connection on-line may lead to more business, without any proof upfront that it will.

Social media does not have to be difficult, especially if you accept the fact that it’s simply taking an off-line process and moving it to the digital space.  Although popular platforms like Facebook change their user interface on a frequent basis, the building blocks of social remain the same.  They are called social networks for a reason, and the easiest way to learn is by participation. You’ll never score if you don’t take a shot, and social media is a contact sport. This is why I encourage non-users who are “social-shy” to start their social strategy by building a profile first, gain some friends and followers and just listen. It won’t take long before you feel comfortable with the social platforms and begin to share.  There are numerous resources and webinars available on-line that share best practices on ways to engage and share with followers and fans.  One word of caution, although it would be tempting to outsource your social media activities to a third party, it would be unwise to do so. Social media demands authenticity, and your posts should reflect your thought leadership, personality, and practice.  Again, the information you share is not unlike the information you would provide your clients or prospects over the phone or via brochures and sales literature.  The difference is that an online platform may provide the scalability to communicate these ideas to a much wider audience.

Social media adoption for each advisor is likely to take different courses depending on what your firm or broker/dealer policies for social. However, the elements outlined above are consistent in the successful implementation and maintenance of a digital strategy. Listen, participate, and be authentic!