RidgeWorth Investments presents Can Social Networking Sites Really Be Used for Client Acquisition?...
-
Upload
tyrell-caryl -
Category
Documents
-
view
213 -
download
0
Transcript of RidgeWorth Investments presents Can Social Networking Sites Really Be Used for Client Acquisition?...
RidgeWorth Investments presents
Can Social Networking Sites Really Be Used for Client Acquisition?
with Kip Gregory, Principal, The Gregory Group
© 2009 Kip Gregory, The Gregory Group. All Rights Reserved.
2Disclosures
Material presented may not reflect the opinions or current policies of RidgeWorth or its affiliates. Registered Representatives of a Broker-Dealer are subject to their Firm’s policies.
An investor should consider the fund’s investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important information about the RidgeWorth Funds can be found in the fund’s prospectus. To obtain a prospectus, please call 888-784-3863 or visit www.ridgeworthfunds.com. Please read the prospectus carefully before investing. Mutual fund investing involves risk, including possible loss of principal.
®2009 RidgeWorth Funds. RidgeWorth Funds are distributed by RidgeWorth Distributors LLC. RidgeWorth Investments is the trade name for RidgeWorth Capital Management, Inc., the adviser to the RidgeWorth Funds, and is not affiliated with the distributor.
Collective Strength Individual Insight is a federally registered service mark of RidgeWorth Investments.
3Questions Advisors are Asking
• Is it worth it?
• What are the risks?
• Which sites should I use?
• Doesn’t it take a ton of time?
• Who should be in my network?
• Am I going get a lot of spam if I join?
• How do I handle unwanted invitations?
• What does it cost …and can I make money?
• Aren’t these sites mainly for people looking for a job?
• Won’t competitors be able to see who my clients are?
4Audience Poll
• Which social networking sites do you use for business?
• What do you feel the impact of social networking has been/will be on your business?
5Topics for Today
• Why social networking matters
• Your best option
• Success stories
• Live examples
• Dos and don’ts
• Moving forward
Listen to the replay at www.ridgeworth.com/social-networking or request an email recap at http://www.winningclients.com/ridgeworth09webinar.php
6Topics for Today
• Why social networking matters
• Your best option
• Success stories
• Live examples
• Dos and don’ts
• Moving forward
Listen to the replay at www.ridgeworth.com/social-networking or request an email recap at http://www.winningclients.com/ridgeworth09webinar.php
7Why Social Networking Matters
Fad
http://bit.ly/6WED7u
Socialnomics’ YouTube video has over 1 million views.
Since July 30.
…or fundamental shift?
8Why Social Networking Matters
6 in 10 of your clients and plan participants use social media sites…
9Why Social Networking Matters
6 in 10 of your clients and plan participants use social media sites…
10Why Social Networking Matters
6 in 10 of your clients and plan participants use social media sites…
Social Media Sites
12Why Social Networking Matters
13Why Social Networking Matters
Find. Be found.
14
elizabeth wilson ridgeworth
Why Social Networking Matters
How hard is it for people to find the “you” that you want them to see?
15Why Social Networking Matters
16Why Social Networking Matters
17
You control the content
Why Social Networking Matters
18Why Social Networking Matters
Find. Be found.
19The Pipeline Paradox
Referrals are the main source of new business for advisors yet…
Most advisors lack a comfortable, consistent process for networking or initiating referrals and introductions
The majority also miss or overlook key events that trigger qualified leads
Many are handing significant revenue to competitors who are finding and stealing away those prospects undetected
20Audience Poll
How frequently are you using social networking sites to surface referral & other business development opportunities right now?
21What if…
Activating even 2-3 additional referral sources could propel you to another level
…your top advocates suddenly opened their Rolodexes to you?
Browse contacts at your leisure – as often as you want
Uncover:
Where a person works
Their job title
Previous roles
Groups they are involved in
Personal interests
Be alerted when any connection:
Expands their network
Updates their profile, including new jobs, projects, awards, contact info, etc.
22Topics for Today
• Why social networking matters
• Your best option
• Success stories
• Live examples
• Dos and don’ts
• Moving forward
23Your Best Option: A Solution Hiding in Plain Sight
That “magic rolodex” exists today… at
Leading business networking site
Over 50 million members
A new member joins every second
Connect with colleagues, clients and centers of influence
See who you & your key prospects know in common
Your LinkedIn ProfileYour LinkedIn Profile
ClientClient
ClientClient
COICOI
ColleagueColleague
ClientClient
ProspectProspect
ProspectProspectCOICOI
ProspectProspect
COICOI
COICOI
ProspectProspect
ProspectProspectProspectProspect
COICOI
ProspectProspect ProspectProspect
ProspectProspect
ProspectProspect
ProspectProspect
ProspectProspect
ProspectProspectProspectProspect
ProspectProspect
ProspectProspect ProspectProspectProspectProspect
ProspectProspect
ProspectProspectProspectProspectProspectProspect
ProspectProspect
ProspectProspect
ProspectProspect
ProspectProspect
ProspectProspect
ProspectProspect
1st degree2nd degree3rd degree(i.e. direct)(i.e. indirect)(i.e. extended)
24Your Best Option: A Solution Hiding in Plain Sight
LinkedIn can be used to communicate and research
PeoplePeople Service ProvidersService
Providers
GroupsGroups Q & AQ & ACompaniesCompanies
Participate in and form groups
Ask or answer a question
Your LinkedIn ProfileYour LinkedIn Profile
…and to monitor and initiate a variety of conversations:
Request or make an introduction
Gather prospecting intelligence
Company Profiles provide background on 1mm+ organizations
Location, # of employees, those with LinkedIn accounts, demographics
Who is most closely connected to you, recent promotions, new hires, and past employees
Profiles can provide priceless prospecting insight
25Topics for Today
• Why social networking matters
• Your best option
• Success stories
• Live examples
• Dos and don’ts
• Moving forward
26Real-Life Success Stories
• A mutual acquaintance closes the deal
• Client appreciation revisited
• The $35 million match made online
• Finding a flood of qualified candidates
• A lesson in networking with influential attorneys
• Giving back: conducting a layoff fair
• Discovering a new way to add value
Examples of how advisors are winning business every day…
27Topics for Today
• Why social networking matters
• Your best option
• Success stories
• Live examples
• Dos and don’ts
• Moving forward
28Audience Poll
Who is your business’s primary target audience?
29Find High-Probability Prospects Quickly
People
• Keywords
• Location
• Name
• Title
…and more
Companies
• Name
• Keywords
• Location
• Headquarters
LInkedIn’s Advanced Search lets you build custom lists rapidly… and for free
Let’s take a test drive…
• Company
• School
• Industry
• Group
• Industry
• Scope
• Size
30Extending Your Reach: Participating in Groups
• 450,000+ groups and growing
• Access to users in—and beyond—your network
• Discussion boards
• Member search
• Article postings
• Email digests
• Decisions, decisions
• Take your top connections’ lead
• Search by keyword
• Join up to 50
Discover pockets of people who need what you offer …or offer what you need
31Extending Your Reach: Participating in Groups
• Linked:HR (208,000)
• Finance & Accounting Professionals (41,000)
• CXO (CEO, CFO, COO, etc.) Community (27,000)
• Society for Human Resource Management (22,000)
• Pension and Employee Benefits Specialists (4,000)
• Corporate Treasury & Cash Management (3,000)
• 401(k) (3,000)
…and hundreds more
Groups worth checking out
Use keyword search to pinpoint relevant communities
32Topics for Today
• Why social networking matters
• Your best option
• Success stories
• Live examples
• Dos and don’ts
• Moving forward
33Dos and Don’ts
1.Leverage your existing resources
• Biographic background
• Current relationships
• Marketing material
2.Understand the rules
• FINRA guidelines
• Your broker dealer’s policy
• Online etiquette
Two essential themes…
34Understand the Rules: FINRA Guidelines
http://www.finra.org/Industry/Issues/Advertising/p006118http://bit.ly/ycoQH
35Understand the Rules: FINRA Guidelines
• Websites & blogs = advertising
• Email, IM (inc. tweets & status updates) to >25 prospects = sales literature
• Email, etc. to <25 prospects within 30 days = correspondence
• Password-protected websites = sales literature
• Chat room (i.e. group) discussions = appearances
• Separate rules outline compliance requirements for each category
• Communication, approval & recordkeeping, supervision, books & records
http://bit.ly/ycoQH
36Understand the Rules: FINRA Guidelines
37
38
39Understand the Rules: Your Broker Dealer’s Policy
40Understand the Rules: Your Broker Dealer’s Policy
41Understand the Rules: Your Broker Dealer’s Policy
42Understand the Rules: Your Broker Dealer’s Policy
43Audience Poll
Does your firm have a written policy governing the use of social networking and social media sites?
44Topics for Today
• Why social networking matters
• Your best option
• Success stories
• Live examples
• Dos and don’ts
• Moving forward
45Moving Forward: Where to Go from Here
1. Lay the foundation
• Complete your profile
• Input contacts
• Invite people to connect
• Join groups
2. Gather intelligence
• Network updates
• Company pages
• Group activity
• Connect the dots
A 3-pronged plan for blending social media into your networking…
3. Cultivate relationships
• Reach out regularly
• Sustain conversation
• Build a golden rolodex
• Focus on giving vs. getting
Take action today!
46Questions?
What else would you like to know, hear about, or share?
47Coming Attractions
• Simple strategies for systemizing your practice
• Mastering the art of 21st century networking
• Conquering information overload in a digital age
• Finding money in motion in your morning paper
• Staying productive on the go
• Building a high-performance team
…and other practical ways of taking your business to the next level
Plan to join us for our 2010 webinars on
Thanks for joining us!
Don’t forget to sign up for a complete recap at:
www.ridgeworth.com/social-networking
http://www.winningclients.com/ridgeworth09webinar.php