Every investor has his or her unique communication and learning style. Some prefer face-to-face meetings, while a quick text message will suffice for others. Some investors are highly analytical and need to understand the data behind their investment philosophy while others take a “just give me the bottom line” approach.
Most successful advisors have become adept at assessing the communication and learning styles of their clients and adapting accordingly. When it comes to a social media strategy, advisors should use a similar approach.
According to the recent survey sponsored by MassMutual and conducted by Brightwork Partners, “women are from Facebook, men are from LinkedIn,” various demographic groups are congregating around their social media channel of choice. Consider these stats:
- 70% of women routinely use Facebook vs. 59% of men
- 57% of survey respondents over the age of 50 use Facebook
- 32% of men use LinkedIn, compared to 15% of women
- 17% of men versus 10% of women rely on Twitter as an information source
- 36% of LinkedIn users have household incomes that exceed $100,000
- 15% of LinkedIn users have household incomes of $50,000 or less
- Survey respondents in their 30s are 14% more likely to use social media for retirement and investment education than their older counterparts
- 80% of Pinterest’s 70 million users are women
MassMutual’s study is the latest in a line of research that demonstrates the role social media can play in educating clients. From a tactical perspective, it is helpful to note that a Tweet, Facebook post, LinkedIn message or Pinterest post will reach only the audience following that channel.
From a practical standpoint, you may want to synchronize your social media messages. So, for example, if you sync your Twitter and LinkedIn files, LinkedIn contacts will see your Twitter updates and vice versa. Keep in mind that some content is more appropriate for certain channels over others. For example, tweets can only accommodate 140 characters but Facebook posts may be more extensive. Pinterest is most appropriate for visual content, like the inspiring image below originally pinned by ForexRin.
In the end, social media is about listening and engaging with your clients. Services like Hootsuite, Tweetdeck and GoGoStat can help monitor and track your social media engagement so that you will know which channels are most valuable to your practice.
 Survey conducted online between February 18 and March 11, 2013. http://www.massmutual.com/aboutmassmutual/newscenter/pressreleases/articledisplay?mmcom_articleid=beb6e92894651410VgnVCM200000d37106aaRCRD