Confronted with the shock of the new, according to Advisolocity’s D. Bruce Johnston, it’s only natural for large organizations to trust that yesterday’s strategies will continue to work a little longer.
As a number of the nation’s leading firms adopt a slow, but steady approach to social media strategies, the time may right for other firms to take the initiative.
For example, recent data from marketing firm LederMark Communicationsunderscores the growing popularity of these tools among financial services professionals:
- 85% of those under 50 use social media
- 50% of those over 50 use these cost-effective tools
- Up to 40% of all users say that social media strategies are helping them build new business
Research from Spectrem Consulting Group last spring delivered similar findings:
- 63% of Twitter users read tweets that offer financial advice
- 46% of YouTube users and 41% of Facebook users seek information from social networking investment forums
A number of investment service providers and publications have been tackling the implications of the social media question. Recently, Spectrem Group and Financial Advisor Magazine sponsored a conference that identified a wide range of issues affecting advisors and investors in the shifting wealth management landscape.
In addition to offering some practical guidance on how to use social media, the webinar also intends to feature insights on regulatory trends and archiving solutions. Using Social Media is designed to alert up-and-coming money managers and financial advisors to the advantages of implementing low-cost social media marketing programs.