5 Practical Things to Start Doing on LinkedIn Today
October 4, 2013
Reaching out to investors takes insight into their habits and a thorough understanding of the tools they're using today. The days of meeting up over drinks to piece together deals is over. Today, over 90% of high net worth individuals are active on social media, and are being influenced by finance companies through these channels. In order to compete, you need to know how to reach your client in ways that stand out as being progressive, impressive and beneficial.
Step One: Join LinkedIn
Social media has been harnessed by B2C businesses to increase awareness of their brands, products and to stimulate word-of-mouth advertising campaigns. B2B businesses are now effectively using them too, in the same ways. Your clients want to learn about all you have to provide through rich, relevant content, and no platform gives you a better way of delivering that information to the right people than LinkedIn.
In addition, a quarter of high new worth investors are mindful of where a finance company is approaching them online. On Facebook? Twitter? Neither lends the appropriate atmosphere to make the best impression. LinkedIn was created for networking purposes, although its role has expanded over time. That doesn't mean you couldn't make a positive impact through another social network, but you lower your chances with buyers when you're not active on the Internet's largest social business hub.
Step Two: Engage with Your Target Client
Three types of investors are prevalent on social media networks: the mass affluent, affluent and ultra-affluent. The difference boils down to how much capital they have to invest. Surprisingly, their spending habits have a direct impact on how involved they are with the companies they support.
For instance, ultra-affluent investors are more likely to do their own research and investing than they are to hire someone to manage their portfolios for them. They complete more trades each month and rely heavily on social media for help. Ultra-affluent investors are also 37% more likely to trust information posted on LinkedIn. To give these investors what they need, you have to create a comprehensive online profile.
Step Three: Create Relevant Content
Not only do investors who manage their own accounts and have more money largely trust the information posted on LinkedIn, they also give more credence to external articles posted there. In fact, they're 157% more likely to trust articles shared on the network. That gives you tremendous potential to attract people to your brand. Investors want to be associated with winning teams, so commission or craft your own articles highlighting your company's successes.
Step Four: Advertise on LinkedIn
When surveyed, high net worth investors agreed that advertising on LinkedIn solidified a finance company's reputation in their minds. It made them appear innovative, groundbreaking and capable of adopting new methods. In an industry where old habits die hard, this is especially important in order to stand out and attract investment dollars. Unfortunately, finance is still fairly stodgy in many ways. As innovative as social media may be, advertising in the wrong places can give your company a bad reputation. According to a recent study, investors' opinions of finance companies that advertised on Facebook, for instance, fell by 11%.
Step Five: Join Industry Groups on LinkedIn
The majority of activity on LinkedIn comes in the form of connecting with business associates, reading their updates and posting your own information. Meet new people you can swap information with by joining groups relevant to the industries you're in. Members of finance companies can also maximize their contacts by associating themselves with popular figures in the industry, either within or outside of your local area.
Once you have them hooked, make sure you are interacting with your contacts in constructive ways. Provide the kinds of information people seek, and spur conversation in those directions. According to recent surveys, 64% of ultra-affluent investors are looking for market information and commentary. New product information, product updates and case studies are also popular with this demographic.
Using social media can put you in front of the right people at the right time. Make sure you're making your best impression by associating yourself with a professional service, and offer people the information they want to read. Be the go-to source for resources your associates can pass along to friends and you'll win the trust of buyers and attract them to your brand.