4 LinkedIn Tips for Financial Advisors
NOTE: If you’re a new financial advisor, make sure you check out Your First Year As A Financial Advisor, where I reveal several things every new financial advisor ought to know.
Are you using LinkedIn as part of your financial advisor marketing strategy? After all, if you’re only using LinkedIn as a passive digital resume, you’re doing it wrong.
Social media is a time and cost-effective way for financial advisors to market themselves. While social networks like Twitter and Facebook definitely have their place, LinkedIn is by far the most valuable. It has the largest concentration of affluent consumers and the biggest percentage of millionaire users.
But can a financial advisor use LinkedIn to get more clients? Consider these stats:
When it comes to generating new leads, LinkedIn is more powerful and more cost-effective than many other marketing techniques, including direct mail, paid advertising, seminars, etc.
Utilizing LinkedIn as a marketing strategy doesn’t happen overnight, but it does offer a big payoff. As you build your network, you should get more connections, more profile views, and more views on things you post. Over time, everything you put out will get more attention and more exposure, creating awareness in your area. Building your LinkedIn presence is important for a number of reasons:
Here are my tips for financial advisors who are looking to improve their LinkedIn presence:
1. Change Your LinkedIn Headline
Marketing should always be about how you can serve your prospects. People don’t care about what you do; they only care about how you can help them.
The most common headline I see is “Financial Advisor at XYZ Financial”. Great! But nobody cares. This might be your title and company, but it says nothing about the people you serve, what you do, or how someone can benefit.
To craft a perfect headline, you need to focus on what you do, your target market, and how you can help them. At the time of this writing, my headline is Helping Financial Advisors Get More Clients Guaranteed. What do I do? Get more clients. How does that help advisors? It makes them more money!
Some good headlines for financial advisors might be:
When you write a headline like this, not only do you stay top of mind to people in your network, but your target market does as well. If people don’t know why you’re different or who you serve, they can’t refer business to you. Make it easy for even non-clients to refer you. You will go from “I think Bob’s in finance” to “Bob’s the guy who helps divorcees manage their money!”
Oh, and please don’t use symbols or emoticons. They look childish and unprofessional.
2. Join Groups
LinkedIn groups are an incredible way to meet new people and/or generate leads from the comfort of your own home. It’s much easier to reach out to someone in LinkedIn groups because you will have a common bond. Join groups that relate to your personal and professional interests, like charities you support, college alumni, hobbies, and professional associations.
There are more than two million groups on LinkedIn, and there are thousands added every week. Take a look at your top clients’ profiles. What groups are they members of? Join those!
3. Create Your Own Content
LinkedIn is one of the only social media platforms that lets you write and publish your own blog posts. It’s important for financial advisors to create their own content because they are subject matter experts. You can create blog posts, articles, eBooks, white papers, podcasts, and much more. Anything that provides value and is relevant to your network is a win. Content marketing gets attention, shows people how you can help, starts a conversation, and drives traffic to your website.
If your target market is divorcees, you may want to publish a series of posts like 5 Financial Steps to Take After the Divorce or 7 Easily Avoidable Mistakes Divorcees Make. The goal is to stay in front of your target market and to be there when they need you.
This is one of the best LinkedIn marketing tips I can give you - I know several financial advisors who are having big success on LinkedIn by publishing and promoting unique content. The magic comes from LinkedIn's ability to scale. If you publish evergreen content, you can keep promoting it and repurposing it to as many eyeballs as you can. It will keep working for you.
4. Just Get Started
About a third of financial advisors aren’t using LinkedIn at all. Those that do use it are reluctant to go big and therefore (remember how I said I didn’t see much growth until 1,000 connections?) don’t see results. Why is there so much opposition?
I hope you see that LinkedIn can be great for financial advisors. If you're a financial advisor who has any questions about LinkedIn or social media in general, feel free to contact me. I am here to help you succeed.
ALSO READ: 27 Financial Advisor Marketing Ideas That Work!
Why LinkedIn Is So Effective For Financial Advisors...
Being the huge marketing nerd that I am, I often daydream about creating different marketing strategies.
One day I thought to myself, “If I could create the PERFECT marketing strategy for financial advisors, what would it look like?”
And I figured…
Then I realized…
LinkedIn has all those things!
LinkedIn is definitely cost-effective. I personally made LinkedIn work for me with exactly zero dollars and zero cents.
You can access it anytime, day or night. I know financial advisors who, when they can’t fall asleep, send follow-up messages on LinkedIn at 3 a.m.
It definitely gives you important information about your leads and prospects.
You can search for someone, look at their profile, and glean important information that can help you stand out from everyone else.
You can reach 10,000 people just as easily as 100 people. That’s where LinkedIn dominates - it allows you to scale like no other marketing method in the world.
And it most certainly builds authority, credibility, and trust with your prospects.
Hungry For More LinkedIn Content?
If so, you're in the right place because episode #3 of my podcast (called "Financial Advisor Marketing") is called "Mistakes Financial Advisors Make On LinkedIn" and it can help you with your LinkedIn strategy as a financial advisor.
Some highlights from that episode include:
Simply search "Financial Advisor Marketing" wherever you listen to podcasts. New episodes are uploaded every Monday! :-)
P.S. If you're a financial advisor who wants to get more clients from LinkedIn, make sure you check out How to Get Clients With LinkedIn: How Financial Advisors Can Set Appointments and Convert Prospects With LinkedIn