Advisors turning to LinkedIn to help grow their businesses

Many advisors are turning to LinkedIn to grow their business – and with good reason. According to industry estimates, LinkedIn has 750 million users, including more than four million active, high-net-worth investors. And when used properly and consistently, this social-media platform offers many benefits, including the ability to drive traffic to a firm’s website, identify quality leads, and share expertise through thought-leadership content.

So what are some of the steps advisors can take to reap these benefits and move their practices to a higher level of success?

According to Brian Haney, founder, CEO of The Haney Company, LinkedIn works best as a Brand Amplifier. So his advice is for advisors to start by cleaning up their profiles to help them stand out from the crowd.

“Your picture, bio, and most of the basic elements of your profile are all what people see,” said Haney. “So if they look and sound like everyone else in your industry, this probably won’t help you much. Take a look at how I set up my LinkedIn profile for examples of tone, picture, etc.”

According to Haney, other steps advisors can take to increase their chances for success on LinkedIn include:

• Don’t spam, communicate. Instead of sending out hundreds of connection requests that are immediately followed by an impersonal message that clearly comes across as solicitous, be genuine in your interest in building connection and rapport with other LinkedIn members and never assume they will become clients, Haney said. Invite people into a conversation, point out a recent post they did and tell them what you thought was insightful about it. Ask a thought-provoking question and invite them into a dialogue, he added.

• Look for relationships, not leads. No one wants to become someone else’s “lead,” Haney said. However people don’t mind forming digital relationships based on mutual interests; so instead of gathering as many connections as you can, try joining certain groups that you have a lot of affinity with, post good content and start some conversations there. “Be seen as a subject matter expert because you actually don’t solicit like so many others do, but are thoughtful with your content and approach,” he added.

• Play the long game. Many companies and marketing firms are willing to tell you that you can generate quick-hit, easy, sales lead funnels in just a few weeks or months on LinkedIn, Haney added. “While that may be true for a rare few, I find it’s not about finding opportunities quickly, but about building a standout brand profile that has a lot of engaged followers, who over time, eventually reach out for advice and help,” he said.

More Steps for Success

The PT Services Group has also found success on LinkedIn because, according to John Pojeta, the firm has focused on daily content creation, including sharing blog posts, podcasts, and the most vital: video. “We’ve found that weekly was not enough and that daily posts are truly moving the needle, added Pojeta, VP of business development.

The firm has also worked hard to position itself as an expert and a thought leader in the field, added Pojeta. “Our key to thought leadership is to provide genuinely helpful information relating to business growth,” he said.

Everyone gets hit daily by people asking for their time so they could sell something to them – and this is annoying. “We are all pressed for sales today, but taking that pressure and applying it to prospects will not get you your desired outcome,” he pointed out. “Our LinkedIn tactic is patience in the macro with high-quality information, and high frequency of activity in the micro.”

Ayo Mseka has more than 30 years of experience reporting on the financial services industry. She formerly served as editor-in-chief of NAIFA’s Advisor Today magazine. Contact her at [email protected]. 

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