BSMG Blog: Protecting the Future of Families and Businesses

In celebration of Life Insurance Awareness Month, we're bringing you the most popular life insurance blogs posted by BSMG! 

In today's competitive marketplace, building your business, growing the client roster and developing your professional reputation should be an integral part of your business plan. Networking is still the most successful way to build quality connections however social media has changed the way that we network. We've gone from "you should have a social presence" to it being an absolute necessity. Having an up-to-date website and being active on social media (especially LinkedIn) are leading factors for advisors who log a high number of face-to-face meetings. We've compiled five of our top takeaways when it comes to social media for financial advisors.

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!

Professional online networks and social media have come a long way in the past 10 years. With 455 million users currently on LinkedIn and 2 new members per second, if you are not connected you are missing out on potential customers.

The truth is, these networks are here to stay and are only going to get bigger. LinkedIn, Twitter, Facebook and many other sites are being used professionally to grow businesses and attract more customers. So we’ve compiled the top 5 mistakes financial professionals make when it comes to using social media in business. Make sure to avoid them!

All too often when financial advisors or insurance professionals hear the word "marketing", their minds wander to dollar signs and expensive outsourcing. While some forms of marketing and advertising can be pricey, there are ways to market inexpensively and even at no cost! Check out these four ways to market your practice on a shoestring below.

Would you want your prospective clients seeing those "What happens in Vegas, Stays in Vegas" photos from your recent guy’s weekend? Of course not! If you are like most financial professionals, you want to be perceived as a financial advising expert by your current and future clients. If you are not careful, you could be over sharing those personal moments that may jeopardize your business. 

It's funny to think that just a few years ago, it was considered inappropriate to use social media in the workplace. Now most companies use it for every day to drive business and share content. Because of this, there is a fine line between professional and personal accounts and sometimes it's hard to know if you've stepped over it or not. 

Beyond the realm of using your personal accounts at home and your business accounts at work, there is the ever growing question of what is OK to share? We have come up with some of the most common gaps mind when it comes to social media in the workplace. 

Whether you're new to the industry or a seasoned veteran you've probably found yourself at a networking event at some point in your career. While you may not always be eager to attend these types of events, they are crucial to growing your business. Word of mouth is one of the most powerful marketing tools for financial advisors, so the more people you interface with the larger your network. What if you could reap the same benefits from the comfort of your own office, or your own home? 

LinkedIn is just this, an ongoing networking event that never stops. It is not only a great way to gain access to leads but to warm them up as well. Anytime someone calls into your office looking for information but is not yet ready to become a customer you should be connecting with them on LinkedIn and nurturing that lead even further. Building these types of connections is a great way to build up your potential client base and connect with a much broader network. LinkedIn has 3 degrees of connections, 1^st, 2^nd and 3^rd so you have the potential to connect with millions of people.

Leading Social Media Expert & Author Erik Qualman Inspired Advisors at BSMG’s March Producer Event

A special thanks to the Digital Dale Carnegie, Erik Qualman (@equalman) for making the producer event a huge success! His captivating presentation exhibited how drastically social media is altering the landscape of business communication, even in the technologically hesitant life insurance industry! Social media is truely a world of new opportunities for producers to grow their businesses.

How can you use these tools to grow your business?

 Check out the highlight reel from the night!

Check out this list of tools from Erik to help you venture further into the world of social media.