Social media platforms are evolving faster than many people can keep up with. Figuring out which platforms best fit your practice and then determining whether or not your compliance department will allow you to use that specific platform can be difficult, too.
However, one of the new social media platforms out there that advisors should be sure to pay attention to is Spreecast. This free social video platform is like a mix of a CNBC talking head show, a Google Hangout and a podcast.
With Spreecast you can live-stream a video with multiple feeds. That means three or four people at different locations can all be onscreen and talking to each other through the use of a webcam. These mini webisodes can be on any topic you desire and can range in length from a short 10 minute piece to essentially a 30 minute ‘talking heads’ TV show.
For advisors, Spreecast could be used to discuss investment views or strategy, to make vlog (video blog) posts into interesting mini-TV shows offering multiple perspectives or as a marketing tool to invite guests, who would otherwise be difficult to meet, on to your show.
I recently ran a Spreecast called ‘Does Your Zestimate Really Matter’ which has raked in over 2,200 views in just 60 days. Try getting that type of traction on You Tube! This type of social media distribution is extremely powerful for financial advisors because the original show is shot live, but the content resides on the internet forever.
And Spreecast has worked well beyond just the videos I've hosted myself. I was recently featured on a Spreecast hosted by the Wall Street Journal's Veronica Dagher along with advisor Sheryl Garrett of the Garrett Planning Network and professor Olivia Mitchell of Wharton Business School.
Used in a smart way, Spreecast lets you display your expertise, especially if you focus on a particular niche in the industry. Perhaps you want to articulate your money management style for the masses. What if your Spreecast show was geared toward moms making the family financial decisions? Much like blogging, Spreecast offers yet another tool for advisors to use to demonstrate their knowledge and expertise and highlight their niche.
Not only is the content great to view on Spreecast, but it can also be very powerful to link to from your website, your newsletter or in an e-mail to a future prospect. You'll definitely want to take a closer look at Spreecast as you grow social media within your business.
Ted Jenkin, CFP, is the co-CEO and founder of oXYGen Financial.