Where client acquisition meets social media

Best Practices: Where Social Media Meets Client Acquisition
How easy-to-use, low-cost social media programs are helping asset
managers and advisors stand out in a crowded market

 John C. Drachman, Chief Marketing Officer
 Zach Hedges, Chief Technology Officer
 08.24.10

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“Like a thousand conversations at once…”

Download “1000 Conversations at Once”
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white paper from www.advisolocity.com

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The new cost efficiencies

Download “1000 Conversations at Once” 3

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Cheaper, better, faster


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What is social media?

 Wikipedia defines social media as “information content created by people using
highly accessible and scalable publishing technologies.”
 Social media uses social networks, online communities or blogs for marketing,
sales and public relations purposes.

Representative social media tools Cost
Blog (Wordpress.com, BlogSpot or equivalent) $0
Twitter (micro-blog site) $0
Google AdWords (for identifying optimal keywords) $0
Linkedin, Twitter, Facebook social networking sites $0
Ulitzer, Freepressrelease.com (content aggregators) $0


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Small businesses stampede through the social media portal

Source: University of Maryland’s Smith School of Business


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What’s working?

 Diagnose who’s following you now
 Establish a thought leadership theme and key word phrases
 Determine who you are trying to reach; your audience may be broader than
you think
 Describe what makes you different
 Measure the results of your efforts to determine the ROI you receive from
increased Internet traffic
 Gather and create the content you need
 Link your content to blog, web site and networks
 Make it easier for your audience to find you and engage with your ideas
 Measure your success; turn suspects into prospects


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Diagnose who’s following you now


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Diagnose who’s following you now


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Establish a thought leadership theme and key word phrases


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Third-party blogging


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Aggregate your content


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The holy grail: Google page 1


Expanding presence: Google page1 dominance for key words

I need to know more
about performance
shares before I
accept this great new
job.


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Define opportunity; determine who you are trying to reach

 Pre-retirement opportunity
 In-service non-hardship employee withdrawals may represent a distinctive
opportunity for Pinnacle Hills
 Employ this theme as part of a social media and networking strategy
 The goal of the strategy is to motivate plan participants, investors,
sponsors, centers of influence and the press to:
 Contact Braden Hill for more information
 Download a four-page white paper
Attract more interest and assets to the firm
 Begin laying the groundwork for a longer-term peer networking strategy for
Pinnacle Hills


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Describe what makes you different

 What are your primary differentiators?
1. ________________________
2. ________________________
3. ________________________
4. ________________________
5. ________________________


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Gather and create the content to support your message

Write a white paper This piece should be based on an idea or theme that
represents the best of your organization and its capabilities.
Build a blog Your blog acts as the focal point for your ideas. Many popular,
professional-looking blog templates are available at www.wordpress.com or
www.blogspot.com
Write posts Consider drafting six in a row to get started
Host a webinar Webinar hosting services like BrightTalk make it easy to set
up your webinar to attract new interest.
Network Link your content to the micro-blog site Twitter and social networking
sites like LinkedIn and FaceBook to allow others a chance to expand your
presence, after they engage with your ideas.
Webcasts These can be repeats of a webinar you have already conducted. A
webcast allows new individuals to see your webinar and can be sent out in
posts or included in networks
Videos Streaming videos are becoming more and more popular. It is not
uncommon for prospects to consider looking at an advisor’s video to see if the
personality fit is right for them


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Link your content to blog, web site and networks

 A social media rule of thumb
is to rely on your site to act
as your “store” of
representative products and
services, while your blog
serves as your portal to
your ideas and themes.
 Together, your site and blog
can well represent what
your firm stands for, your
underlying mission, as well
as your products and
services.


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Blogging for thought leadership; web site for sales

Web site showcases
products, services, performance
updates…

… While blog highlights
themes, ideas, engages
constituencies in
conversations

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“Don’t talk to me about contact capture, I want lead generation”
Client “X”


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What are qualities of SFG suspects?

1. $1 million >$10 million in net worth
2. May require more leadership in their financial matters
3. Do not know that SFG could help


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Measure the results of your efforts

 Suspects How many suspects – individuals who have a need for your
products and services, but don’t know you exist -- visited your site recently?
 Prospects How many suspects did you convert to prospects – defined as
individuals who did not yet buy your product, but self-identified themselves
through one of your publication downloads, subscriptions or other actions that
allowed you to capture the contact’s identity?
 Clients How many prospects did you convert to clients?
 Advocates How many clients have your converted to advocates – individuals
who have purchased two or more products, provided referrals or exerted any
other positive influence on your behalf?


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Getting to know Jane Smith, prospect

 Automate the
messaging process
according to Jane Suspects
Smith’s interests

Prospects

Clients

SEI WN

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Getting to know Jane Smith, prospect

Integrated messaging:
• E-mail
• Video
• Public relations
• Digital marketing
• Social media
SFG • Blogging
• SEO
• Marketing
communications
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Measuring results

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Measuring results

Engage HNW only
 Gained new clients
 Expanded relationship with some existing

Business development
 Netted approximately $36,000 in new
and ongoing fees
 Some $4.0 million in new AUM
 Timeframe: Eight weeks
 “Overall we are very pleased with the
results of the Webinar Series and expect
21 of the new prospects to eventually
contact SFG for services” Charles
“Chuck” Steege, CFP® SFG Wealth
Planning Services, Inc.


Most important…

…Just get started


Where client acquisition meets social media

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