There’s lots of marketers, articles and websites pitching Social Media marketing for advisors. Sorry, but the numbers suggest it just doesn’t work for the financial industry.
Don’t believe me? Then believe your colleagues. The amount of advisors using Social Media like LinkedIn and Facebook for business and marketing has actually fallen by over 50% since 2009 according to a survey done by the consulting company, Aite Group.
And of the advisors active in Social Media, a mere 19% said they could even attribute one new client to their Social Media efforts. The conclusion from the study? There are many, many ways you could spend your time more effectively to build your business than Social Media.