how ifas and financial planners can differentiate with social media

Philip CalvertIFA Life

www.ifalife.com

Do you stand out from the crowd?

How to differentiate with Social Mediain a post RDR world

Perceptions of IFAs and Financial Advisers

“I don’t like my financial adviser. Apart from the fact that he has grey hairs sticking out of his nose, I don’t believe a word he says and I don’t trust him.”

“I don’t like my financial adviser. Apart from the fact that he has grey hairs sticking out of his nose, I don’t believe a word he says and I don’t trust him.”

“Every time he comes round he tries to sell me a policy and I always do what he says because I feel I ought to.”

Perceptions of IFAs and Financial Advisers

• 29% believe their knowledge is as good

Compeer March 2009 Financial DIY Report

Financial Advisers struggling to get noticedby consumers

• 29% believe their knowledge is as good• 34% believe that ‘advice’ is a disguise for ‘sales’

Compeer March 2009 Financial DIY Report

Financial Advisers struggling to get noticedby consumers

• 29% believe their knowledge is as good• 34% believe that ‘advice’ is a disguise for ‘sales’• 38% don’t believe advisers add enough value to

justify their fees

Compeer March 2009 Financial DIY Report

Financial Advisers struggling to get noticedby consumers

• 29% believe their knowledge is as good• 34% believe that ‘advice’ is a disguise for ‘sales’• 38% don’t believe advisers add enough value to

justify their fees• 44% view the Internet as ‘an essential source of

financial information and advice’

Compeer March 2009 Financial DIY Report

Financial Advisers struggling to get noticedby consumers

• 29% believe their knowledge is as good• 34% believe that ‘advice’ is a disguise for ‘sales’• 38% don’t believe advisers add enough value to

justify their fees• 44% view the Internet as ‘an essential source of

financial information and advice’

Compeer March 2009 Financial DIY Report

But...

Financial Advisers struggling to get noticedby consumers

• Consumers still want access to your expertise• But they don’t always want to meet you

Financial Advisers struggling to get noticedby consumers

• Consumers still want access to your expertise• But they don’t always want to meet you• Do Doctors feel under threat from the Internet?

Financial Advisers struggling to get noticedby consumers

• Consumers still want access to your expertise• But they don’t always want to meet you• Do Doctors feel under threat from the Internet?

Financial Advisers struggling to get noticedby consumers

Of course not!

The problem with consumers

• They have too many choices

The problem with consumers

• They have too many choices• You don’t stand out enough

The problem with consumers

• They have too many choices• You don’t stand out enough• They don’t have enough time

The problem with consumers

• They have too many choices• You don’t stand out enough• They don’t have enough time• The Internet is seen as a shortcut

The problem with consumers

• They have too many choices• You don’t stand out enough• They don’t have enough time• The Internet is seen as a shortcut• You don’t stand out enough online

Tell us something we don’t already know

Tell us something we don’t already know

Tell us something we don’t already know

How clear is your proposition?

DIFFERENTIATE OR DIE.

What are you doing to get noticed?

Change is scary at first(but you know it will be great!)

YOU will be

the key differentiator in your business!

• Google Places• YouTube• Blog• LinkedIn• Facebook• Twitter• Ecademy• Slideshare• Foursquare• iPhone App

Tools that work for IFAs

• Google Places• YouTube• Blog• LinkedIn• Facebook• Twitter• Ecademy• Slideshare• Foursquare• iPhone App

Tools that work for IFAs

How to Leverage LinkedInHow to Leverage LinkedIn

Why are you on LinkedIn?• May 2003• 100m users (1m per

week)• 200 countries• 21 million US visits pm• 48 million visits globally• 50% in US• 4 million in UK• Other business networks

• Viadeo (30m)• Xing (10m)• Ecademy

• 70% of IFAs on LinkedIn (but don’t know why)

• A HUGE mine of data. All LinkedIn features help you leverage that data

• Invest time in creating a compelling profile page

LinkedIn is a “People LinkedIn is a “People Search Engine”Search Engine”

Why are you on LinkedIn?

• Find contacts• Find likeminded• Share contacts• Highlight expertise• Get/give answers• Get/give company news• Find/advertise jobs• Find/promote events

Why are you on LinkedIn?

• Share status• Find personalised news• Career discussions• Build Community• Search topics and people• Search engine

optimisation• Share content within

LinkedIn

• Find contacts• Find likeminded• Share contacts• Highlight expertise• Get/give answers• Get/give company news• Find/advertise jobs• Find/promote events

Profile

• People Search Engine• Looking for expertise – not friends• Enhance perception of your Professional

credibility• Differentiation post RDR• “People Buy People”

A search for ‘Financial Planner’ gets 92,000 results

Profile

• First – check your activity visibility

Profile• Add your keywords

(Pensions, Mortgages etc) to each of these sections:

• Key sections:– Headline– Current work– Past work– Website– Public profile URL– Summary– Specialities– Contact settings

• Interests• Skills• Honours and Awards• Groups and Associations• Add sections: e.g. SlideShare

presentations

Add keywords to your name

Add your current activities – not just your current job

Include keywords in your profile URL/address

Add your keywords in Specialties section

Expand on your current activities and include your keywords

Request and add testimonials

Add keywords, but also show your human side

Add contact details but also include your keywords

Profile add ins

• Applications– Events– Polls– Projects– Trips– WordPress blog– SlideShare

• More Applications– Company Buzz– Amazon reading list– Box.net– Google presentations– iPhone App to use

LinkedIn on the move

Change the order to suit what you want people to see

Skills

Skills

Type in your skill and LinkedIn shows new connections for you

Search and Save

Search and Save

Filter by Network, Individuals, Company, Time, Location, Industry and #

Company profiles

• Basic details and map• Get followers• Edit profile > Timeline• List key employees• Share comments to Twitter

and/or LI contacts• Recent tweets (incl.

Foursquare checkins)

Company profiles

• Basic details and map• Get followers• Edit profile > Timeline• List key employees• Share comments to Twitter

and/or LI contacts• Recent tweets (incl.

Foursquare checkins)

• Products/services – images, video, URL and people

• Request and show recommendations

• Follow button for your website

• Advertise jobs ($195)• Promote – PPC or per 1000

impressions

Groups

• Join (50) and/or create your own• Groups tab > Groups you may like• Build Community• People opt in to your content

– Feed the fish

• Follow specific content• LinkedIn emails your content

Typical discussion forum in LinkedIn groups

Use submission queue to filter out spamin your group

Answers• More tab > Answers• Enhance perception of your expertise by

answering people’s questions• Recommended categories for you

News

• More tab > News• Personalised news just

for you based on your profile content

Stuck?

• Learning centre: http://learn.linkedin.com/• Under the ‘More’ tab

Read/listen againwww.ifalife.com/LinkedInforAdvisers

Learn why Foursquare is important for IFAswww.ifalife.com/FoursquareforIFAs

Follow IFA Life on Foursquarewww.foursquare.com/IFALife

Contact and Speaking bookingsphilip@ifalife.com

Twitterwww.twitter.com/IFALife

Join over 6,500 IFAs who use IFA Lifewww.ifalife.com