Ignites today published results of a poll which indicates that fund industry professionals are increasingly embracing social media and recognizing its applicability; click here [1] to read the complete article.
More than 58% of the almost 250 respondents characterized social media as either “important” or “useful,” up from 51% a year ago. The number of respondents who indicated that they believe the hype around social media is greater than its usefulness dropped to 26% from 35% a year ago.
My two cents as cited and quoted in the article:
- Social media oriented strategies will only gain more ground in the future. Fund companies and other sponsor firms are ahead of advisors and RIAs because of continuing monitoring/compliance issues.
- “For those who think the hype is bigger than usefulness and to those that bemoan the end to face-to-face communications, I would say you are looking at social media in the wrong way. Social media should not replace anything — the heart of all relationships remains personal. Social media should not replace the handshake or anything else. It should supplement it and deliver more value to the client or prospect, and deliver in a way that they want. Social media should increase your reach, improve your communications and help attract new prospects and cement relationships.”