How to Secure Clients Through Facebook

Facebook is the world’s largest social network with more than 800 million active users. That is a lot of potential clients. However, Facebook presents some unique challenges to client acquisition. A recent survey of 600 financial advisors showed the effectiveness of the three major social sites in generating new business: 61% of the advisors using LinkedIn, 40% of the advisors using Twitter and 35% of the advisors using Facebook acquired at least one new client through these sites. Facebook, though it is the world’s largest social network, offered the lowest client conversion rate among the big three for financial advisors.1

Get access to this article and thousands more...

All Financial Planning articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, blog discussions, the iPad App, CE Exams, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our daily or weekly e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and growth strategies.

Already Registered?

Comments (6)
Inviting anyone to "like" a financial planner's page could invite a compliance complaint.
Posted by JIM M | Tuesday, October 09 2012 at 1:42PM ET
That's a great point Jim. A financial professional should always check with their home office to makes sure that any social media marketing efforts fall well within their compliance departments comfort zone--some really encourage advisors to open up the flood gates, while others encourage a more careful approach. Working with a wide range of broker-dealers ourselves, we've definitely come across both extremes. Bottom line, check with your compliance department before launching any campaign.
Posted by Craig F | Tuesday, October 09 2012 at 2:19PM ET
Hi Craig, do you have a link to the survey you are quoting?
Posted by Jeremy P | Wednesday, October 10 2012 at 3:26PM ET
@Jeremy, I sure can:

The numbers have been updated. Their a bit higher now, but that's the Hubspot B2B study that we're referencing.
Posted by Craig F | Thursday, October 11 2012 at 5:42PM ET
Ok great, thanks Craig!
Posted by Jeremy P | Friday, October 12 2012 at 5:07PM ET
Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.

Already a subscriber? Log in here