Leveraging social media to grow your business
To the tune of 70% of U.S. adults on Facebook, 82% on YouTube and 47% on Instagram, the data is clear: people are regularly engaging with social media. Whether to discover news, connect with friends and family, learn or be entertained, Americans are logged on. To keep pace with new communication preferences and find people where they are, financial professionals everywhere are adding social media to their business development strategies to build awareness, drive engagement and grow their business.
If you haven’t tapped social media as a means of growth and engagement, now’s the time: 94% of financial professionals are using social media for their business.
Setting Your Social Strategy shows you how to maximize your social presence as a way to deepen existing client relationships while identifying and connecting with new prospects. Your wholesaler is here to partner with you and provide any level of support you may need.
Do you have a social strategy?
Next: Planning guide
If you’re new to social media or revisiting your existing approach, here are some essential considerations. Your wholesaler can help you work your way through these steps.
Laying a foundation
for success
Planning guide
Follow these five steps to help create or improve your social media strategy.
Creating your
plan of action
Checklist & timeline
Next: Tools & guides
Since LinkedIn is dedicated to professional networking, that will be our focus moving ahead. Setting up and optimizing your profile is easy. Think
of LinkedIn as a virtual introduction to a community
of professionals. The information you post makes an impression on new clients, prospects and referral sources before they even meet you. And it’s important to share your profile — on LinkedIn or any other social media site — with your company’s compliance department to make sure you’re following standards. Plan to revisit your profile at least annually, and
update as you add credentials and experience.
Here are some simple steps to get started.
Getting started
on LinkedIn
Tools & guides
Next: Tools & guides
Review & follow-up
Have any questions?
Next steps
Contact Your Wholesaler
TruStage™ Annuities are issued by CMFG Life Insurance Company (CMFG Life) and MEMBERS Life Insurance Company (MEMBERS Life) and distributed by their affiliate, CUNA Brokerage Services, Inc., member FINRA/SIPC, a registered broker/dealer, 2000 Heritage Way, Waverly, IA, 50677. Investment and insurance products are not federally insured, may involve investment risk, may lose value and are not obligations of or guaranteed by any depository or lending institution. All contracts and forms may vary by state and may not be available in all states or through all broker/dealers.
FOR REGISTERED REPRESENTATIVE USE ONLY. NOT FOR USE WITH THE GENERAL PUBLIC.
CMGA-6127466.1-1123-1225 © TruStage
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Program overview
Planning guide
Checklist & timeline
Tools & guides
Review & follow-up
Next steps
Program overview
Planning guide
Checklist & timeline
Tools & guides
Review & follow-up
Next steps
Program overview
Planning guide
Checklist & timeline
Tools & guides
Review & follow-up
Next steps
Program overview
Planning guide
Checklist & timeline
Tools & guides
Review & follow-up
Next steps
Leveraging your mutual connections is just one way to find new prospects. LinkedIn offers useful search functions in both its free and subscription versions.
Making the most
of social search
Tools & guides
Next: Tools & guides
To help you build your social media strategy, we’ve provided a sample worksheet to help you track a few key metrics.
Track your
LinkedIn success
1. Add a photo
2. Set the stage
3. Contact info
4. Introduction
Add a professional photo
Your background photo is also an important consideration. Select a unique image that represents your business and brand.
Basic search
Advanced search
Hashtag (#) search
Free LinkedIn accounts have the ability to search using a number of different filters.
To begin the search, enter the keyword(s) into the Search bar next to the LinkedIn logo at the top of the page.
You can select an option from the drop-down selections or press Enter on your keyboard to see more results.
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Hashtags are words or phrases preceded by a hash sign (#) that help identify topics of messages or content on social media platforms. Many users search for information on topics by using hashtags, so this is a great way to elevate and amplify your social media posts and make them more visible to the right people.
A carefully selected hashtag can help your posts be seen by audiences who are specifically interested in your topic. Consider hashtags like #retirement, #financialplanning, #investment or others that are appropriate for your content and relevant to your audiences. Keep hashtags simple — about three or four per post — and remember to proofread them, too.
Download Sample Activity Tracker
NOTE: The tactics and strategies presented here are not meant to supersede existing firm guidelines or regulatory and compliance standards in place for licensed individuals. Before taking action, we recommend you share your approach with your broker/dealer for approval.
1. Pew Research Center, Social Media Fact Sheet, 2022, September 20.
2. Putnam Investments, 2023 survey of advisors' use of social media, 2023, April 2023.
2
1. LinkedIn, About LinkedIn, Accessed 2023, October 19.
2. Pew Research Center, Social Media and News Fact Sheet, 2022, September 20.
3. Putnam Investments, Grow your business using social media, Putnam Social Advisor
Survey 2023, 2023.
Platforms to consider in
your strategy
Planning guide
Next: Checklist and timeline
Next: Planning guide
LinkedIn
Facebook
(formerly Twitter)
YouTube
Instagram
5/5
Instagram
About the platform
Instagram tends to skew a bit younger, with 62% of teens saying they’ve used it, while 47% of adults claim to use this image-based site.
Value to your business
Instagram can help you build your brand, and it’s great to use if you’re hosting or attending an event. Financial professionals often take photos of themselves with colleagues or peers at an event and include the event hashtag associated with it to gain additional visibility and credibility as a thought leader.
2
4/5
YouTube
About the platform
YouTube continues to pull in big numbers and remains a major player in social media, with 82% of American adults using the site. It’s even more popular among teens, with 95% of U.S. teens saying they’ve used it.
5
Value to your business
YouTube is a highly effective medium for financial professionals that can help you easily publish video content to reach a large audience.
1/5
LinkedIn
About the platform
LinkedIn is the favored social media platform for business professionals, with 950 million members worldwide. 31% of adults use LinkedIn, and it’s also become the preferred network for financial professionals.
3
Value to your business
LinkedIn can help you brand your business, expand your professional network, connect with current clients, increase referrals and introductions to potential clients, communicate with new client leads and prospect for new business relationships.
3/5
X (formerly Twitter)
About the platform
27% of surveyed adults use X. But recently, since a highly public change in ownership in 2022, 60% of those who’ve used the site over the past year have taken a break from it.
2
Value to your business
X can help you get the word out when you’re hosting a webinar, speaking at an event or attending an industry conference — and lets you share those moments immediately with the world. Financial professionals often share commentary on current news or encourage their audiences to engage in an event.
2/5
Facebook
About the platform
Once made exclusively for college students, it eventually opened itself up to more subscribers.
Now, 70% of U.S. adults use Facebook, and 31%
even regularly get their news from the site.
2
Value to your business
Facebook can help you build your brand identity, cultivate relationships with specific prospective clients once they are identified and enhance client relationships.
1
Check with your compliance department regarding which social media platforms are acceptable for use.
SOURCE:
1 LinkedIn, About LinkedIn, Accessed 2023, June 5.
2 Pew Research Center, Social Media and News Fact Sheet, 2022, September 20.
3 Putnam Investments, Grow Your Business Using Social Media, Putnam Social Advisor Survey 2023, 2023.
4 Pew Research Center, Majority of U.S. Twitter Users Say They’ve Taken a Break from the Platform in the Past Year, 2023, May 17.
5 Pew Research Center, Teens and Social Media: Key Findings From Pew Research Center Surveys, 2023, April 24.
TWITTER, TWEET, RETWEET and the Twitter logo are trademarks of Twitter Inc. or its affiliates.
How will you measure the success of your program? What metrics will you consider? Will
you base it on followers, size of your extended network, content viewed and shared, number of prospects generated through social and client retention?
Measuring success
What is your call to action? Will you drive traffic to your website? How will you connect with new followers and leverage follower connections? Also, how will you respond to comments? Plan a consistent response strategy for all types of comments you might encounter.
Response and follow-up
How frequently do you intend to post
new information?
How much time each day will you spend on monitoring your social activity?
How will you manage errors and what are your firm’s guidelines for correction?
Managing your program
Communicate your strategy with your firm’s compliance department to ensure you are aligned with the standards and requirements they have in place. Requirements may include access to your page for regular reviews and archiving posted content.
Sharing your strategy
Where. Which social media platforms make the most sense for your business? LinkedIn has more than 950 million users in more than 200 countries and territories around the world.
But Facebook and Instagram have more users among American adults — 70% for Facebook and 47% for Instagram compared to 31% for LinkedIn. Still, with 38% of financial professionals using LinkedIn exclusively, it may be a more suitable spot for serious business.
When. Setting calendar reminders to
regularly post on LinkedIn and engage with other users in your network can help ensure that your content is up to date and relevant. It’s essential to remember that engagement works in both directions.
2
1
Your social media strategy
Number of followers
Video views
Number of page views
Engagement levels with content posts
New prospects identified
New business resulting from a social media connection
Number of impressions
Click-through rates (CTR)
Success
Response and follow-up
Create or review your profile page for optimal impact. (See Track Your LinkedIn Success document.)
Dedicate time on your calendar to update and monitor your social media program. We recommend starting with a 30-minute-a-day commitment that you can adjust over time as your program goes live and expands.
Review existing client lists and recent acquaintances to be added as contacts to your profile.
Line up your content for the first few months so you can update your posts frequently.
Implementation
Schedule time to share your social strategy with your firm’s compliance group for review, guidance and approval. (See Getting Started resource guide.)
Ensure you understand the process for approving shared content and posts.
Compliance
Clearly define and complete your Social Media Strategy.
Share your strategy with team members and support staff.
Strategy
Identify groups that align with your business
Join groups that are frequently visited by your clients.
On LinkedIn, you can review the list of group recommendations at https://www.linkedin.com/groups/discover
5. Experience
6. Skills/Referrals
7. Interests
8. Privacy
9. Engage
10. Services
11. Review
*Sales Navigator professional is also available at Team and Enterprise levels, with added InMail access and more advanced features.
1. LinkedIn, Difference between free LinkedIn and Premium LinkedIn accounts, Accessed 2023, June 5.
1. Add a photo
Set the stage
Beneath your name, don’t feel restricted to listing your current job title. Tell your audience what you do. Some examples might be:
2. Set the stage
People plan for retirement for over 15 years
Turn financial complexity into personalized outcomes
Provide investment and estate planning strategies
Clients navigate their financial futures
Put retirement solutions within reach
Contact information
Review your contact info. Make sure your phone number and business address are listed. This is also the time to review your profile URL and see if the random URL assigned to you by LinkedIn is acceptable. You can edit it to include your full name or another URL of your choosing.
Links to your firm website or blogs can be added here as well.
Introduce yourself
The About section is your place to shine and let your personality come through. Consider this section your elevator speech — a 30–60 second commercial for who you are and what you do.
Think about how you present yourself when you’re having a new client conversation or engaging with a prospect. How do you introduce yourself and what do you say that lets them know they’re in capable hands? How do you differentiate your services? Write like you speak.
Experience
Remember your audience and customize your work history, emphasizing areas they’ll want to know about you and your experience. This is also a great place to showcase your volunteer work.
Skills, endorsements and recommendations
Don’t be shy about asking for referrals from clients, work associates and acquaintances. Third-party endorsements can go a long way to validating a prospective client’s desire to connect.
Interests
Review which groups and companies you’re following on a regular basis. New clients and prospects, as well as referral sources, will begin to form a perception of you based on association. What do your choices tell them?
Privacy settings
Review and edit (if necessary) how your profile and activities are seen by others under your account’s privacy settings. Make sure you are allowing the right level of access to your profile that is allowable by your compliance department.
Engage with your network using your LinkedIn profile
It’s not enough to establish your profile. Be sure to find a range of relevant articles, blog posts and other content for your prospects and clients. Remember to tag content with appropriate hashtags (#) to make your posts easy to find in searches.
Upgraded services
Basic LinkedIn services are free for users, but optional upgrades at different pricing levels can offer useful, advanced capabilities. Premium and professional plans are billed monthly or annually, so you can try them out for a few months and choose the account type that best supports your business. Here’s a quick comparison of account features.
Review
Plan to review your profile page on a regular basis to refresh and keep your content current.
3. Contact info
4. Introduction
5. Experience
6. Skills/Referrals
7. Interests
8. Privacy
9. Engage
10. Services
11. Review
2
Next: Review & follow-up
My network
Building out your contacts and mining potential leads starts with your core network of clients, business associates and friends.
Generating referrals through LinkedIn
Tools & guides
Hashtag (#) search
Advanced search
Basic search
Make a list and start the connection process online.
Personalize your connection messages and avoid a sales message. Be genuine.
When they accept, send a thank you note.
Connect on LinkedIn with people you meet offline
If you’re at a conference or another social event and get people’s business cards or contacts, turn those people into LinkedIn connections, too. Likewise, if you’re presenting at a seminar or event, encourage people to connect with you. Always be on the lookout for new connections.
Building out your contacts and mining potential leads starts with checking your weekly dashboard to see who is visiting your profile. If you have a paid account, you have access to InMail, which lets you write directly to individuals you’re not connected with.
Who’s viewed your profile
1
Visit a contact’s profile page and select the See Connections link to scan their connections. Identify a handful of contacts that you’d like to connect with. Reach out to your contact through email or set up time to discuss your goals with them in person or over the phone.
You may find that while some contacts are more than happy to make an introduction, others may be less willing to take that step. And that’s okay. It may take them a while to consider the idea of a personal referral, or maybe they don’t know the contact well enough to make the introduction.
For contacts willing to initiate an introduction, there are many ways to start a relationship. Contacts can connect you through email or even suggest a warm introduction over coffee.
Mining referrals
Staying active on LinkedIn
You can add value to your followers by sharing thought leadership and insightful content. Quality content can be a great conversation starter with your clients.
In addition to being active on LinkedIn, it’s important to follow and understand LinkedIn algorithms so you constantly stay on top of the LinkedIn feed. Things that help increase visibility and engagement include using hashtags, tagging people or companies, posting video content, replying to comments and resharing posts.
Exporting connections
from LinkedIn
At some point you may want to export a list of the connections
you have made on LinkedIn. To export a list of your LinkedIn connections:
1. Click the Me icon at the top of your LinkedIn homepage.
2. Select Settings & Privacy from the drop down.
3. Click the Data privacy tab.
4. Under the How LinkedIn uses your data section,
click Get a copy of your data.
5. Select Want something in particular? Select the
data files you’re most interested in.
6. Select Connections, then Request archive. You’ll then
receive an email including a link to download your list
of connections.
Note: You can only export a list of your 1st-level contacts and not 2nd-level or 3rd-level associations.
Remember that your connections are also looking to build their networks, so make sure
that when you’re asking for a referral, you’re returning the favor by giving referrals to others. The act of recommending another business to a friend or colleague can start a chain reaction
that can lead to a lot of new business.
Check with your compliance department and follow all broker-dealer policies and
procedures regarding social media.
Reciprocate
LinkedIn offers a Social Selling Index, which serves as a kind of report card on the success of your social efforts. Your score is based on the four elements of social selling:
1. Establish your professional brand
2. Find the right people
3. Engage with insights
4. Build relationships
1
Your score is determined based on the four elements to the left. Get your baseline Social Selling Index (SSI) score through LinkedIn’s free site: https://www.linkedin.com/sales/ssi and work through the steps in this guide to ensure a strong score.
SOURCE:
1. LinkedIn, Social Selling Dashboard, 2021.
Platforms to consider
Laying a foundation
Program overview
Planning guide
Checklist & timeline
Tools & guides
Getting started
Generating referrals
Review & follow-up
Next steps
Social search
Program overview
Planning guide
Checklist & timeline
Tools & guides
Getting started
Generating referrals
Review & follow-up
Next steps
Social search
LinkedIn
Features
Insurance | Investments | Technology
Next steps
Review & follow-up
Tools & guides
Checklist & timeline
Planning guide
Program overview
Annuities
Setting Your Social Strategy
Leveraging social media
to build your business
Let’s get started
Planning guide
1
If you have any questions, simply contact your wholesaler.
Planning guide
Checklist and timeline
Tools and guides
Review and follow-up
Have any questions?
Next steps
Contact your wholesaler
TruStage™ Annuities are issued by CMFG Life Insurance Company (CMFG Life) and MEMBERS Life Insurance Company (MEMBERS Life) and distributed by their affiliate, CUNA Brokerage Services, Inc., member FINRA/SIPC, a registered broker/dealer, 2000 Heritage Way, Waverly, IA, 50677. Investment and insurance products are not federally insured, may involve investment risk, may lose value and are not obligations of or guaranteed by any depository or lending institution. All contracts and forms may vary by state and may not be available in all states or through all broker/dealers.
FOR REGISTERED REPRESENTATIVE USE ONLY. NOT FOR USE WITH THE GENERAL PUBLIC.
CMGA-6127466.1-1123-1225 © TruStage
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877.345.GROW (4769) | www.trustage.com/annuities
Why. Think about your objectives, whether they involve staying connected with existing clients, gaining new referrals, building brand awareness, establishing your expertise, building a stronger “centers of influence” network or all of the above.
Who. Define your target audience. Is it individuals, business professionals or businesses? Do you want to narrow that definition to focus on gender, age, location or profession?
What. Based on your audience and
objectives, what types of content will you
be posting or sharing?
Do you have content created by a marketing department that can be re-purposed or will you be authoring your own commentary?
Will you be researching content from other sources or news media for your posts?
What are your firm’s review processes for content distribution?
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Define some parameters that can help guide how you intend to support your social media strategy.
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This simple-to-use kit includes:
Next: Planning guide
Planning guide
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Post new content.
Check and respond to:
New notifications that allow you to monitor the activity of existing contacts, such as job changes or promotions, and send personal responses
New messages from followers or requests to connect from new contacts
Profile views activity on LinkedIn and determine if follow-up communication is appropriate
If you’re using LinkedIn, get connected with new people. Set a goal and review:
The connections of your existing contacts
Individuals who have viewed your page
The contacts recommendations from LinkedIn
Join new groups.
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Create a scorecard to track activity at
regular intervals:
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Wear what you’d typically wear in the office.
Consider something a bit more modern that includes an interesting background that isn’t distracting.
Be creative and approachable.
Make it easy and simple for them to complete without taking more
than 10 – 15 minutes.
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Aaron Alexander
Financial Professional
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If you’re a financial professional and you consider yourself a solo entrepreneur or small business owner, LinkedIn’s Open for Business feature may be a good fit. This feature lets you showcase your brand and get discovered by potential clients.
Sales Navigator Core
Advanced search capabilities are available through upgraded LinkedIn subscriptions to Sales Navigator Core. The search options through this program offer deeper search capabilities, including zip code, years of experience and more.
These broader search categories allow you to fine tune your search efforts for more targeted prospect selection.
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Annuities
Setting your social strategy
Let’s get started
Insurance | Investments | Technology
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Free
Limited
InMail credits
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Who's viewed my profile?
Private browsing
1
Applicant Insights
Business Insights
Advanced Search
Standalone sales interference
Custom lead and account lists
Lead recommendations and saved leads
Premium Career
Premium Business
Sales Navigator Core
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Helping:
1 LinkedIn Sales Navigator Advanced Search Features, 2023, May 6
Source: LinkedIn Help, 2023, December 27