7 Steps to Referral-Rich Facebook FANS for Wealth Advisors

Do you know what a Facebook Fan is worth? $136.38! That’s according to a June study by Syncapse . Not only that, it turns out Facebook Fans are 28% more likely than non-fans to continue using a brand and  41% more likely than non-fans to recommend a fanned product to their friends

While this report may not directly apply to financial advisor and investment firms, it points to a new and largely untapped referral source for savvy financial advisors.

Here are 7 steps for a successful – and compliant – Facebook Page for your business…and turn on your referral engine:

For those who may be new to social media and Facebook Fans, a FAN page differs from a private Facebook page.  Fan pages are corporate or professional pages that a business can set up, and used to promote business (versus personal) interests. A Facebook Pages (formerly referred to as a “FAN Page”) is distinct from the regular Facebook personal pages that most people know. Here are some tips for financial advisors who want to leverage this potential referral source of new prospects and ideal clients:

1. Set up a Facebook Page for your independent advisor firm (or see if your corporation has a Facebook page already)
2. Commit to having an active social media presence  with weekly posts (not just a static ad)
3. Invite your most influential clients and relationships to ”Like” your page (Facebook will help you do this)
4. Choose your fans wisely – avoid the mistake many people make of adding fans who are not relevant to your business.
5. Keep those relationship in your personal Facebook page.
6. Post valuable, compliant information for your audience.This can include current news, discussion questions, or other helpful information.
7. Make sure your posts are done within the requirements of your corporate and regulatory guidelines. Socialware is a company that specializes in helping regulated firms with compliant social media policies and practices.

Search on Facebook to see how other advisors are successfully using this new media to grow referrals and retain clients. Facebook is definitely here to stay, and is the new “word of mouth”.

How are you using social media? Share your comments and pass this article to your friends. Oh, and Id love it if you would “like” me at my facebook fan page, http://bit.ly/9hbS7s

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