Web Presence and Social Media:For Financial AdvisorsHow web presence and social media fuels business growth

John C. Stone IIIPresident & CEORevenue Architects, LLC

Dan A. BernsteinDirector of Professional ServicesMarket Counsel

Person and firm are not affiliated with nor employed by Charles Schwab & Co., Inc. ("Schwab"). The views of independent third-party speakers and their materials are their own and do not necessarily represent the views of Charles Schwab & Co., Inc. Schwab makes no representations about the accuracy of the information in the publication or its appropriateness for any given situation. 

Discussion Agenda

Web Presence and Social Media

Why should we care?

How can we use this in our firm?

How do we ensure

compliance?

Discussion Agenda

Web Presence and Social Media

Why should we care?

How can we use this in our firm?

How do we ensure

compliance?

A fundamental shift toward digital

The web has transformed the way we communicate, spend money and invest

Clients are increasingly “digital” and expect their advisors to be as well

According to the “World Wealth Report”, clients increasingly favor real-time digital media for communications and transactions and expect choice in the means of communication, including tools such as digital media and mobile applications.

New buyer steps

Word of mouthTraditional

mediaFriend

networks

Social MediaBlogs, ForumsArticlesForums

DownloadToolsResearchWebinar

ServicesAccessReferenceMeeting

Post “Like”ReTweet

Aware Research Compare Evaluate Advocate

Engaging an advisor remains a highly personal process, but digital engagement is playing an increasingly important role.

“One out of five advisors said they had used social media sites to introduce themselves to at least one prospect so far in 2011.” – SEI Advisor Network

We usually begin here…

With the right web and social media strategy, advisors can increase visibility, and grow their practice.

Yet, many advisors remain uncertain..

Is our web presence important to our current clients and targeted prospects?

Do we have the capability to engage social media and web presence effectively?

Would an integrated marketing strategy help us reinforce our value proposition?

Can social media and web presence help us accelerate referrals?

Can we employ these strategies while remaining compliant?

Some of the myths…. Debunked

1. Social media is for kids.

More Americans … with influence

Series1

24%

34%

48%51%

2008 2009 2010 2011

Yes Millennials, but over 55 driving growth – esp. mobile

4 in 5 active Internet users visit blogs and social daily

25% time on Internet is blogs and social

Email still most popular Search is 2nd

Women view video more, men watch longer

Active social media users influence offlinesource: Edison Research & Mashable, Nielsen

% Americans with a social media profile

The web and financial decision making

“More than one-half of financial services product searches in the United States begin online, according to Accenture research, and that figure is likely to increase.”

They are comfortable using the Internet as part of their decision making process.

Wealthy under-50s are poised to move

Cisco IBSG research shows that Wealthy Under-50s are poised to move to firms that provide a new approach to financial advice—and to leave those that don’t.

Percentage of Wealthy U.S. Investors Interested in Using Different Technologies To Interact with Their

Financial Advisor or Investment Firm, by Age

2. Social media is for personal use not business use.

Social Media spans business and personal

More Personal

More Business

LinkedIn – a new member per second

More than 100 million members 18M Group Members More than 2 million companies have LinkedIn

Company Pages Executives from all 2010 Fortune 500 companies Affluent & influential membership

3. Regulation prevents me from using it.

You must establish guidelines and policies

Recommendations & Testimonials

Archiving Content

Static content = advertisements

Real‐time communications

Personal use & publishing

Controls and systems.

Advisor adoption is growing

85% of financial services professionals under 50 are utilizing social media

73% of the advisors who use social media have a profile or account with one or more of the social media types mentioned; 55% use Facebook and 46% use LinkedIn

71% of advisors say they have one or more future business uses planned for social media

46% of financial advisors are interested in learning how to harness social networking platforms for securing new clientshttp://www.socialware.com/resources/research/social-media-industry-statistics/

Discussion Agenda

Web Presence and Social Media

Why should we care?

How can we use this in our firm?

How do we ensure

compliance?

The “A-E-I-O-U” for Digital Marketing

Aquireaudience from the web and direct

Engagewith experience design and content

Influencevisitors to share with others

Optimizethe website for conversions

Understandbehaviors, values,

performance

ACQUIRE audience from the web

TWEET

SEM

SEOPR AD

BLOG

EMAIL

mywebsite.com

GROUP

COMMENT

ARTICLE SHARE

SLIDE-SHARE

Using On and Off Page Strategies

SEO Strategies

• Easily identifiable tags• Identification of key words• Integration of key words

Credit: newwebmarketing.com

Link to blog and website in social media | Link to social media in blog and website

42% of search users click the top-ranking link. 8% click the second-ranking link 62% of search users click a link on the first page of search results

Twitter and Hashtag Strategies

#RIASmithDiscussion#retirement

#401k

A Twitter hashtag is used to increase conversation visibility

Use trending tags to increase you conversation visibility and follower base. Be authentic in your tweeting and don’t try to sell on twitter. Use it as an opportunity to expose your thought leadership on a specific topic.

ENGAGE with experience design and content

mywebsite.com

ARTICLES

DESIGNBRAND

MESSAGE

BLOG

OFFERS

VIDEOS

TOOLS

Effective Branding and Design

Easy navigation and a blog with dynamic content

Branding and messaging ties together

Value Proposition tailored to me…

This advisor is current with technology…

Opportunities to dive deeper

Imagery that relates to the local area…not stock images

INFLUENCE visitors to share with others

mywebsite.com

EMAIL/ SHARE

WIDGETS

GREAT CONTENT

Influence content sharing

Social widgets provide links for readers to share content with others

Quality blog content accelerates sharing

LinkedIn profile views reinforce professional credentials

mywebsite.com

OPTIMIZE website for conversions

SHARE WIDGET

REGISTRATION FORM

NEWSLETTER

FOLLOW WIDGET

DOWNLOADS

BLOG RSS

APP

EVENT

WEBINAR

Example: Conversion Points

Sincerely,Bill Jonesxyzcompany.com@billjonesLinkedin/us/billjones

links to company website and Twitter in signature

Website blog attracts reader

Blog post shared through Social Media

Landing Page for targeted value proposition

Microsites/Landing Pages are conversion-oriented web pages that may function separately from an existing website.

Conversion forms facilitate registrations for a value exchange

Social Media velocity based on interest

Interest = Opt-in

Clients

Clients’ Networks

New Contacts

Discussions posted on social media are easily followed by friends of friends of friends. Interested parties will self-select..

UNDERSTAND behaviors, values, performance

A quick deep dive into leading social media platforms

Blogs: A Dynamic Source of Content

Why?

• Dynamic content

• Bring people back

• Convert ideas to action

• Communicate expertise

How?

• Original, Curated & Relevant

• Creative

• Snackable

• RSS Feeds

• Planned

Facebook: Personal Engagement

Why?

• Extend Personal Network

• Awareness, Referrals

• Publishing Outlet

How?

• Rich Profiles

• Natural and Authentic

• Personal

• Use Audience Selector

• Follow, Publish, Share

Facebook Business Profiles - Presence

Why?

• Visibility/ SEO

• Building Following

• Publicize Events

• Cross-connecting

How?

• Content, Location, Events

• Stream & Curate

• Link your Blog

• Custom Apps

• Follow

LinkedIn: Business Engagement

Why?

• Enhancing Credibility

• Being Found

• Connecting Professionally

• Publishing

• Facilitate Referrals/ Intros

• Jobs & Recruiting

• Client Intelligence

How?

• Profile, photo and key words

• Group & 1:1 engagement

LinkedIn Business Profile - Outpost

Why?

• Brand Outpost, Offerings

• Team and connections

• Publishing Platform

• Focused Content

• Following

How?

• Value proposition

• Logo

• Team consistency

Image Source; http://simonverrall.wordpress.com/2011/03/04/how-to-create-a-company-profile-on-LinkedIn/

Twitter: Long Tail Exposure

Why?

• Micro blog

• Global reach

• Research / Follow

• Expertise focus

How?

• Branded page

• Tools – e.g. Hootsuite

• Content / strategy

• Join/ Access Lists

• Publish, share, engage

• Hashtags #

Branded Outpost

Google+: new and compelling channel

Why?

• Another publishing platform

• Better control of “circles”

• Rapid adoption – watch this space

How?

• Set up circles

• Streams – pages

• Publish

• Sparks, hangout, huddle

YouTube: Searchable, Embeddable Video

Why?

• Presales

• Educational Content

• Sharable, Free

How?

• Branded Channel

• Snackable Content

• Entertaining

• Imbed code

YouTube: Embedded videos

Imbedded YouTube

video

 Videos | resources | http://www.acrinv.com/resources/video | Screen clipping

YouTube Channel

Big search engine

Entertainment value

Educational

Sharable

Sales Enabler

Publishing and Management Tools

Day-in-the-Life [of an Advisor using social media]

Meet the Players….

TimClient

AlexLead Financial Advisor

FrancoiseAttorney

JoanneCPA

EmilyGreg’s Wife

JaneTim’s Wife

GregTim’s son Ina

Greg’s Friend

Alex – Registered Investment Advisor

$350M AUM

Comprehensive wealth management services

• Family Wealth

• Women

• Business Owners

• Retirement Resource Strategies

• Tax And Estate Planning

AlexFinancial Advisor

Situation and Challenges

Situation

• Steady Growth for 15 years• Semi-urban demographic • HNW Professionals, business owners• Good COI Network

Challenge• Target growth of 10% AUM/ 20-30 clients• Aging client base

Issue• How to reach the new generations in an authentic

and natural way?

Strategy

• Develop a clear value proposition• Authentic and aligned content strategy• Establish a strong web presence• Engage Social Media

Let’s get started….

For illustrative purposes. Confidential, do not reproduce.

Illustrative

Alex scans the news and sees coverage of an earthquake in Peru

For illustrative purposes. Confidential, do not reproduce.

Illustrative

Remembering that his client, Tim Jones, is in Peru for the Winter, he looks to Facebook to see if there is any updates.

For illustrative purposes. Confidential, do not reproduce.

Illustrative

While on Facebook, Alex links easily to Tim’s son Greg’s Page. St. Supéry Vineyards and Winery produces fine wines.

On the Facebook Page, he notices links to a range of positive press about the wine – including some recent awards!

For illustrative purposes. Confidential, do not reproduce.

Illustrative

From the Twitter page for the winery, Alex retweets a press clipping with positive news.

@alexAdvisor thanks for the mention!

@gregwineguy you are welcome, congratulations! I was pleased to see your parents are well.

@gregwineguy Agree. Great that the vineyard is doing so well!

@alexAdvisor yes thanks, it is great very exciting

@gregwineguy Perhaps we will see you in Napa – I will be up in a few weeks

@alexAdvisor Great, let’s plan that. Email me if you want to visit the winery

@alexAdvisor yes thanks, it was scary when it happened – we were relieved.

For illustrative purposes. Confidential, do not reproduce.

Illustrative

Greg later replies with a “Thanks for the retweet” and a Twitter conversation ensues.

For illustrative purposes. Confidential, do not reproduce.

Illustrative

Greg visits Alex’s Twitter and LinkedIn Profile and views some articles and events. One piques his interest.

Illustrative

For illustrative purposes. Confidential, do not reproduce.

Because Alex’s website has relevant content and services, Greg bookmarks the site using Delicious.

Alex and his affiliates launched a multi-touch campaign featuring events, articles, PR and videos.

For illustrative purposes. Confidential, do not reproduce.

Illustrative

A range of SEO, SEM, and Digital PR strategies helped the team publicize the events and drive registrations.

For illustrative purposes. Confidential, do not reproduce.

Illustrative

Greg views a campaign video, and reads about the upcoming webinar.

For illustrative purposes. Confidential, do not reproduce.

Illustrative

Greg hopes to recover AMT from earlier ISO transactions so he registers for the webinar. He also shares a link to the event.

Ina notices Greg’s post on Twitter and because she trusts Greg, she also registers for the webinar.

While attending the webinar Greg uses the hashtag #taxwebinar and shares thoughts with his Twitter network.

For illustrative purposes. Confidential, do not reproduce.

Illustrative

Greg’s To Dos: College savings plan Roth IRA? Tax Planning? Investment choices? Allocation? Insurance? Trust or no Trust?

He refines his priorities and needs.

For illustrative purposes. Confidential, do not reproduce.

Illustrative

Alex and Greg later meet at the winery and discuss a range of financial issues.

For illustrative purposes. Confidential, do not reproduce.

Illustrative

With the families’ financial picture emerging, Alex forms a team to support a range of financial and investment goals.

AlexFinancial Advisor

JoanneCPA

JamesGreg’s Brother

GregJim’s son Cheese Maker

EmilyGreg’s Wife

TimClient

JaneTim’s WifeFrancoise

Attorney

Estate Planning

Bank Accounts for Children

Investment Accounts James

Greg’s Brother

GregJim’s son Cheese Maker

EmilyGreg’s Wife

TimClient

JaneTim’s Wife

Greg introduces Ina to Alex and the two meet to discuss topics from the Webinar.

AlexFinancial Advisor

GregJim’s son Cheese Maker

InaGreg’s FriendNew Client

Success….

What we saw - using digital and social media

A-E-I-O-U Strategies in action

AcquireMulti-touch Campaigns, SEO, PR, Social Presence

EngageCompelling website, branding and design, clear value proposition, good content

InfluenceLinkedIn Profile, Twitter Engagement, Facebook Presence, Sharing Widgets, RSS Feeds

OptimizeEvent and Webinars, landing page registrations

UnderstandGoogle Analytics and Measurement Scorecards, relationship intelligence tools

Your Strategy: Getting Started

Put together your plan

Craft your Strategy

• Your Target Audience

• Your Capability

• Value Proposition

• Strategy

Build your Systems

• Compelling Website

• Marketing Technologies

• Social Media• Measurement

and tracking

Launch your Programs

• Content Programs

• Creative Campaigns

• Promotion

Understand your audience and capabilities

Accelerate Engagement

Innovate

Digitally

Maintain

Status Quo

Target

Segments

Our firm is digital?

Ou

r c

lien

ts a

re d

igit

al?

NO

YES

YES

Level of Time and effort

Define your ambition

Level 1 Level 2 Level 3 Level 4 Level 5

Traditional Presence Networked Leader Celebrity

Clean, branded website – no social media presence. Traditional positioning.

More modern website, branded social outposts, regular updates.

Active following and group participation, active media publishing. 3-5k followers

Big active following, leading publisher, dynamic blog, media visible. 5k-20k followers

Global following, daily publishing, branded blog, Big personal brand, 200k plus followers

Top 3 “Must Haves”?

1. Professional Website

• Clean professionally branded

• Relevant, current content

• Conversion options

2. Relevant Content

• Produce, sharing relevant material

• Curation and Authoring

• Regular publishing and sharing

3. Core Social Presence

• LinkedIn first

• Keyword aligned, current, descriptive

• Activated network / connections

Compliance

An Offer: Web Presence “Healthcheck”

Digital Diagnostic

• Brand Review

• Website Performance

• Social Media Presence

• Content and Value Proposition

Facilitated Review Session

• Review Findings

• Outline Opportunities

Summary Message

Your digital presence is increasingly important as an element of an integrated marketing strategy

The A-E-I-O-U process can help you enhance visibility and deepen and extend relationships

Follow three steps to get started: 1) craft your strategy, 2) build your systems, 3) launch your programs.

Thank You

John C. Stone IIIFounder & CEORevenue Architectswww.revenuearchitects.comjcstone@revenuearchitects.comw – 877.738.3276c – 617.686.7305@jcstone3

Discussion Agenda

Digital and Social Media Marketing

What is it and why should

we care?

How can we use this in our firm?

How do we ensure

compliance?

Roundtable & Q&A