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3 Questions Advisors are Asking Is it worth it? What are the risks? Which sites should I use? Doesnt it take a ton of time? Who should be in my network? Am I going get a lot of spam if I join? How do I handle unwanted invitations? What does it cost …and can I make money? Arent these sites mainly for people looking for a job? Wont competitors be able to see who my clients are?
4 Audience Poll Which social networking sites do you use for business? What do you feel the impact of social networking has been/will be on your business?
5 Topics for Today Why social networking matters Your best option Success stories Live examples Dos and donts Moving forward Listen to the replay at or request an recap at
6 Topics for Today Why social networking matters Your best option Success stories Live examples Dos and donts Moving forward Listen to the replay at or request an recap at
7 Why Social Networking Matters Fad Socialnomics YouTube video has over 1 million views. Since July 30. …or fundamental shift?
8 Why Social Networking Matters 6 in 10 of your clients and plan participants use social media sites…
9 Why Social Networking Matters 6 in 10 of your clients and plan participants use social media sites…
10 Why Social Networking Matters 6 in 10 of your clients and plan participants use social media sites…
Social Media Sites
12 Why Social Networking Matters
13 Why Social Networking Matters Find. Be found.
14 elizabeth wilson ridgeworth Why Social Networking Matters How hard is it for people to find the you that you want them to see?
15 Why Social Networking Matters
16 Why Social Networking Matters
17 You control the content Why Social Networking Matters
18 Why Social Networking Matters Find. Be found.
19 The Pipeline Paradox Referrals are the main source of new business for advisors yet… Most advisors lack a comfortable, consistent process for networking or initiating referrals and introductions The majority also miss or overlook key events that trigger qualified leads Many are handing significant revenue to competitors who are finding and stealing away those prospects undetected
20 Audience Poll How frequently are you using social networking sites to surface referral & other business development opportunities right now?
21 What if… Activating even 2-3 additional referral sources could propel you to another level …your top advocates suddenly opened their Rolodexes to you? Browse contacts at your leisure – as often as you want Uncover : Where a person works Their job title Previous roles Groups they are involved in Personal interests Be alerted when any connection: Expands their network Updates their profile, including new jobs, projects, awards, contact info, etc.
22 Topics for Today Why social networking matters Your best option Success stories Live examples Dos and donts Moving forward
23 Your Best Option: A Solution Hiding in Plain Sight That magic rolodex exists today… at Leading business networking site Over 50 million members A new member joins every second Connect with colleagues, clients and centers of influence See who you & your key prospects know in common Your LinkedIn Profile Client COI Colleague Client Prospect COI Prospect COI Prospect COI Prospect 1 st degree 2 nd degree3 rd degree (i.e. direct) (i.e. indirect)(i.e. extended)
24 Your Best Option: A Solution Hiding in Plain Sight LinkedIn can be used to communicate and research People Service Providers Groups Q & A Companies Participate in and form groups Ask or answer a question Your LinkedIn Profile …and to monitor and initiate a variety of conversations: Request or make an introduction Gather prospecting intelligence Company Profiles provide background on 1mm+ organizations Location, # of employees, those with LinkedIn accounts, demographics Who is most closely connected to you, recent promotions, new hires, and past employees Profiles can provide priceless prospecting insight
25 Topics for Today Why social networking matters Your best option Success stories Live examples Dos and donts Moving forward
26 Real-Life Success Stories A mutual acquaintance closes the deal Client appreciation revisited The $35 million match made online Finding a flood of qualified candidates A lesson in networking with influential attorneys Giving back: conducting a layoff fair Discovering a new way to add value Examples of how advisors are winning business every day…
27 Topics for Today Why social networking matters Your best option Success stories Live examples Dos and donts Moving forward
28 Audience Poll Who is your businesss primary target audience?
29 Find High-Probability Prospects Quickly People Keywords Location Name Title …and more Companies Name Keywords Location Headquarters LInkedIns Advanced Search lets you build custom lists rapidly… and for free Lets take a test drive… Company School Industry Group Industry Scope Size
30 Extending Your Reach: Participating in Groups 450,000+ groups and growing Access to users inand beyondyour network Discussion boards Member search Article postings digests Decisions, decisions Take your top connections lead Search by keyword Join up to 50 Discover pockets of people who need what you offer …or offer what you need
31 Extending Your Reach: Participating in Groups Linked:HR ( 208,000) Finance & Accounting Professionals (41,000) CXO (CEO, CFO, COO, etc.) Community (27,000) Society for Human Resource Management (22,000) Pension and Employee Benefits Specialists (4,000) Corporate Treasury & Cash Management (3,000) 401(k) (3,000) …and hundreds more Groups worth checking out Use keyword search to pinpoint relevant communities
32 Topics for Today Why social networking matters Your best option Success stories Live examples Dos and donts Moving forward
33 Dos and Donts 1.Leverage your existing resources Biographic background Current relationships Marketing material 2.Understand the rules FINRA guidelines Your broker dealers policy Online etiquette Two essential themes…
34 Understand the Rules: FINRA Guidelines
35 Understand the Rules: FINRA Guidelines Websites & blogs = advertising , IM (inc. tweets & status updates) to >25 prospects = sales literature , etc. to <25 prospects within 30 days = correspondence Password-protected websites = sales literature Chat room (i.e. group) discussions = appearances Separate rules outline compliance requirements for each category Communication, approval & recordkeeping, supervision, books & records
36 Understand the Rules: FINRA Guidelines
39 Understand the Rules: Your Broker Dealers Policy
40 Understand the Rules: Your Broker Dealers Policy
41 Understand the Rules: Your Broker Dealers Policy
42 Understand the Rules: Your Broker Dealers Policy
43 Audience Poll Does your firm have a written policy governing the use of social networking and social media sites?
44 Topics for Today Why social networking matters Your best option Success stories Live examples Dos and donts Moving forward
45 Moving Forward: Where to Go from Here 1.Lay the foundation Complete your profile Input contacts Invite people to connect Join groups 2.Gather intelligence Network updates Company pages Group activity Connect the dots A 3-pronged plan for blending social media into your networking… 3.Cultivate relationships Reach out regularly Sustain conversation Build a golden rolodex Focus on giving vs. getting Take action today!
46 Questions? What else would you like to know, hear about, or share?
47 Coming Attractions Simple strategies for systemizing your practice Mastering the art of 21 st century networking Conquering information overload in a digital age Finding money in motion in your morning paper Staying productive on the go Building a high-performance team …and other practical ways of taking your business to the next level Plan to join us for our 2010 webinars on
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