This is the title of an opinion piece that I wrote for yesterday’s Ignites; click here [1] to read it.
The article discusses the things that will separate the winners from the losers among firms that decide to enter the social media arena. (These same principles are germane to advisors entering this foray as well.) Bottom line, those firms that succeed will be those that have a strategy to attack this ever-influencial channel and then execute on this strategy. Those that enter with no strategy, and act accordingly, are probably wasting their time and money.
Key principles firms should consider in developing their approach to social media include:
- Be informative and educate – pull people in with value-added content; do not try to sell something
- Be consistent with your delivery – if you’re not going to have fresh content on a regular basis – don’t start!
- Be accessible – give people multiple ways to follow your company, link them together and make them easy to use
- Have an opinion – it’s okay to be outspoken and a little controversial
- Be patient – Rome wasn’t built in a day – it will take time to build a sizable following
Roughly 80% of asset management firms recently survey by Kasina expressed interest in developing a social media strategy. Some will and some won’t. Some will be successful and some won’t.
You can be sure that the winners will plan, allocate resources and personnel and treat their entry into social media as a serious endeavor. Because it is – and if not done right can hurt your reputation and leave you behind the competition.