Why Are Financial Advisors Flocking to LinkedIn?

Written By : Clifford Blodgett

LinkedIn is quickly becoming the social media network of choice for financial advisors. But why? Facebook is even bigger, and Twitter is more trendy.

What’s so great about LinkedIn?

Reason One: Prospective clients check you out online.

We’re not knocking Facebook and Twitter; those are important online resources, too! But according to hinge Research Institute, 70 percent of people investigate service professionals on LinkedIn before using their services. Yes, that’s seventy percent. If you knew 70 percent of your prospects were basing all or part of their decision on your business card, you would probably make sure to have the best business card available. So knowing this fact, why would you neglect to join LinkedIn?

Reason Two: It’s a great way to network with potential referral partners.

As you know, it’s important to go to your prospects. If a networking event is set to be full of potential clients, you attend it. LinkedIn is the online equivalent.

On LinkedIn, you can:

• build an impressive profile to showcase your abilities, experience, and talents
• utilize highly specific search criteria to locate your ideal prospects and send them a contact request
• join groups full of business owners, pre-retirees, and other people who would be interested in your services
• post links to your blogs or videos to increase your website traffic

Taking all of these steps increases your online exposure, builds your credibility as a financial professional, and creates a network of trusting relationships which translate into increased referrals.

Reason Three: Other financial advisors are already doing it.

In fact, 9 out of 10 financial advisors on social media are utilizing LinkedIn to grow their practices. And it’s working! Forty-nine percent of those advisors report that they have gained new clients as a direct result of networking on LinkedIn. Twenty-nine percent of those gained over $1 million in new assets.

If you aren’t leveraging the power of LinkedIn to grow your practice, you might be losing clients to the financial advisor across town.

The bottom line: Your prospective referrals are already looking for you on LinkedIn. The platform offers a modern approach to traditional networking, allowing you to grow relationships, highlight your accomplishments, and provide a detailed online profile to ensure prospective clients of your trustworthiness. If you join now and begin leveraging this opportunity, you can ensure that you put yourself in the right place, at the right time, to reap all the rewards social media networking has to offer.

Source:  http://www.hingemarketing.com/library/article/beyond-referrals-how-todays-buyers-check-you-out

Source:  http://www.business2community.com/linkedin/top-3-reasons-financial-advisors-use-linkedin-01043297

Filed under: Social Media for Financial Advisors