For many financial advisors LinkedIn has been a largely underused marketing tool. Even those who have a fully updated and complete profile might not be tapping into the full worth that this resource offers. According to LinkedIn, as of February 6, 2014 LinkedIn had 277 million users, with 84 million of those in the United States. It is also the clear choice for professionals using social media as a driver for their business, as it accounts for 64 percent of visits from social media channels to corporate websites (Twitter only accounts for 14%). It can be an incredible prospecting and client acquisition tool for advisors, but you have to commit the time to make it work for you.
We’ve found that those advisors who regularly set aside time to use this resource are better off in the sense that they form a habit around it and become accustomed to regularly accessing information in this way. Here are thoughts on how to spend this time:
Edit your profile: Make sure it’s complete, as users with a complete profile are 40% more likely to get profile views. And while you’re at it, see how it reads on a mobile device. 38% of LinkedIn visits are made from a tablet or mobile device.
Track Your Profile views: You can tell a lot about the type of demographic you are targeting by examining the “Who’s Viewed Your Profile” section of LinkedIn, which was just recently updated. This can also be a good way to determine if spikes in traffic correlate with your other marketing efforts.
Analyze Your Keywords: This LinkedIn feature allows you to determine which keywords, and therefore areas of your profile, are generating traffic to your page. Whether it’s your name specifically, or keywords in your current or previous job descriptions, are they indicative of searches your current target market would use to find you online? Performance in this area could be a great indicator of what could work in other marketing channels too.
Get Endorsed: There are over 1 billion endorsements on LinkedIn. How many do you have? How many of these are from current clients endorsing your skills, and do these really highlight the value you bring to the client? If not, consider reaching out to clients for some more targeted endorsements that better highlight your expertise.
Join Groups: Joining groups is a great way to narrow your focus in search of certain clients. Find groups that are frequented by your target client base, and get involved in the conversation! 200 conversations per minute occur through LinkedIn Groups, and these are invaluable opportunities for you to showcase your knowledge. Use this as a segue to begin a larger conversation offline about financial planning for these participants.
*Statistics taken from LinkedIn and Digital Marketing Ramblings
Coaching Questions from this article:
1. What does your viewership say about the kind of LinkedIn users you are attracting, and is this in keeping with your ideal client base? If not, maybe it’s time to adjust your profile, or otherwise consider targeting these markets that are naturally coming to you.
2. Are you in groups that are specific to your industry, or the industries associated with your clients? You should constantly be connecting with COI’s and current and perspective clients using LinkedIn.
3. If your firm allows it, are you engaging in conversation with these demographics, by posting, liking, and commenting on their content?
4. Based on your keyword performance, are there areas of your profile that could be performing better? What updates do you need to make to ensure that every section is completely optimized for visibility?