Social media can bring many things to your business: leads, referrals, brand awareness. It’s a key way to build relationships with existing and potential clients; however, everything comes with a price. In this case, being active on social media platforms can bring you unwanted attention from regulators. This isn’t to say that you shouldn’t pursue a social media presence, but remember that social media remains a hot-button issue for regulators in 2012. Numerous alerts have gone out addressing improper conduct by registered reps in the use of social media.
With that in mind, here are some tips to minimize the risk of crossing the line and help prepare you for success.
Step 3: Pick a platform(s) that meets your business needs.
- Many advisors start with LinkedIn, Facebook, and/or Twitter
- Ensure your existing website is updated, and consider creating a blog (if it makes sense and you can commit the time needed to keep a blog fresh). Social media is the communication engine to build relationships and drive traffic to your website or blog, so you will see increased traffic to your site as you become active on social media.
Step 4: Build a plan and stick to it.