Social media marketing for financial services firms is a challenge.
Yet despite those unique challenges, for those who do invest the time and take an active role, it pays off -- both in terms of new business/lead generation, as well as connecting with the next generation -- according to Alix Stuart in a recent On Wall Street article (republished below).
Clearly social networks were the first frontier ... but what about content marketing?
Financial Services Content Marketing: Questions
As content marketing expert Jay Baer often says, "Content is the gasoline, social media is the match." So, we're wondering: What are financial services firms and advisors doing when it comes to content marketing strategy?
- As content marketing has emerged as an important online strategy, how have financial services adapted?
- Are blogs the content marketing vehicle of choice, and, if so, what is best practice for executing in a way that's compliant?
- Are the content curation and republishing strategies that we discuss on the pages of this blog all fair game? Or are financial advisors limited to pre-approved or general interest content, in order to engage a following and steer clear of compliance issues?
- When we came across the term "content library" on Twitter, we're a little stunned. What does this mean? Can financial executives create original content, and share any links they like, or only curate from an approved library?
If you work in the financial services industry, please weigh in ... we have more questions than answers, and we'd like to hear from financial folks in the know.
Financial Services Social Media, an Update
We're very excited to share two great articles about financial services company's use of social media on our repubHub.
Take a peak at both articles, from On Wall Street -- the one we've republished below, about social media for financial services lead generation, and the next in the series, "How Advisors Should Tackle Twitter", authored by Lauren Boyman, digital strategy director for Morgan Stanley.
When we first started paying attention to the topic of social media and financial services firms, Morgan Stanley was just beginning a year long pilot, way back in 2011. We recall being riveted by a video debate almost 2 years ago, between Ms. Boyman, and independent certified financial planner Cathy Curtis.
It's no longer in pilot mode, is it?!
So naturally, we're curious, nearly two years later, to hear what has changed in Morgan Stanley's approach, and also how Ms. Curtis's approach has evolved, too. Seeing both articles, one authored by Ms. Boyman and the other by Ms. Stuart, in the last 2 weeks, renewed our interest in the topic.
According to Ms. Stuart, social media mavericks remain a minority in financial services firms. In the article below, Natalie Taylor, head of marketing for Wedbush reports an adoption rate of roughly 35%, due to a combination of lack of comfort with technology by individual advisors, and compliance challenges.
There is no denying the importance of online channels for reaching and influencing a targeted financial services audience, despite FINRA compliance and other regulatory concerns.
Let us know what you think of the online marketing progress being made by financial services firms, as well as your experience with financial services content marketing. Thanks in advance!