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Top 5 Misconceptions of Social Media

Posted by BSMG on 17 Oct 2016

Do you have an account on LinkedIn, Facebook or Twitter? If not, why? Having an online presence allows you to grow your client base and brand. While we know that most professionals see the value in being active on social media, we also know there are still some lingering misconceptions out there. We've taken the liberty to compile the top 5 misconceptions and debunk them for you. Even if you are on social media, you should still read this to ensure you're using the platforms to their full abilities. Throw out the excuses and start growing your business!

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Top 5 Social Media Misconceptions

  1. Social Media is Just for Kids- Not true anymore, even presidential candidates are using social media to post their views and reach potential voters. Pew Research Center and the Knight Foundation reported that 62% of American adults access news on social media. Social media is no longer just for the younger generation. For instance, LinkedIn is a network used by professionals to advance their career. Facebook is becoming less attractive to younger generations, because many of their parents are active users. Keep in mind that Millennials are the largest generation and your soon to be prospective clients. 

  2. Not Enough Time to Create Content- Setting up your company or personal account on social media is the first step. The second step is being an active contributor on the sites to maximize recognition. This doesn't mean you need to produce original content to share on a daily basis. Utilize social media to promote articles you have written, but also share articles written by others that you believe your audience (followers or friends) will find useful. The more connections and groups you are involved in the more content there is to share.

    Related: Top 5 Mistakes Financial Advisors Make With Social Media for Business

  3. I Can't Post During the Work Day- Great news, the best times to post on most platforms are when your audience is online too and that's been reported as before or after work hours. Studies have recommended posting between 7:30-8:30 AM or 5:00-6:00 PM and some even say weekends are good for higher readership. Some social media sites even allow you to preset posts to go live at a designated time, so you can set it and forget it!

    Learn How Now!

  4. Lead Generation Will Be Small- This may have been the case 5 years ago, but the influx of users continues to grow exponentially. With the convenience of media at one's fingertips, people look to internet searches for answers. Social media allows you to grow your brand, get new prospects and for clients to positively review your services. Ask your current customers to write a review on your page or post success stories to attract leads. 

    Read More- Social Media for Financial Advisors to Grow their Business 

  5. Social Media is too Complex- Again, this may have been the case 5 years ago, but not anymore. The internet is filled with user guides and "how to videos" to help you setup your social pages. Here at BSMG, we offer both! Social media may seem complex, however, these platforms are built to be user friendly. Each platform has analytics that show how your posts are being viewed, who's viewing them and how long they 're engaging. 

So stop making excuses and start embracing social media! These invaluable marketing tools are right at your fingertips.

Check out our 2016 Social Media for Financial Advisors guide for more tips and best practices.

Topics: Sales & Prospecting Tools for Advisors, Social Media for Financial Advisors