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
So, should advisors bypass Facebook and focus on the other social platforms?
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