Leading Advisor Financial Advisor Coaching

Does Social Media Fuel Business Unrest?

January 9, 2012 by · Leave a Comment 

My January edition of Wired Magazine arrived early last week and the cover headline caught my attention – #RIOT – How Social Media Fuels Social Unrest.

The cover headline triggered the memory of a recent conversation that I had with a corporate communications specialist.

The corporate communications specialist was telling me that it was essential for big business and corporations to have a social media manager to monitor and respond to what’s being said about big business and corporations on social media.

“You have to know what people are saying about you online.”

But what if you don’t know what people are saying about you online?

Recently, I was told a story about an entrepreneur who didn’t have an online presence and their business dropped significantly because one unhappy customer expressed their dismay in their personal blog. In the absence of an online presence, the unhappy customer’s dismay became the only social media message about the entrepreneur’s company because of an absence of current posts on their website.

Past studies show that a satisfied customer will tell 2-3 people about their experience with your company. A dissatisfied consumer will share their dissatisfaction with 8-10 people and some will push that number to 20.

With social media, one dissatisfied customer could tell hundreds of thousands of people and put you out of business.

That’s if you don’t have a strong social media presence by way of a website that can include coaching testimonials and speaking testimonials with current posts by way of a blog or e-newsletter … you could call this social media 1.0. The next step is having a page on FaceBook, LinkedIn and Twitter which are included in social media 2.0 and participating in conversations on the big three of FaceBook, LinkedIn and Twitter are included in social media 3.0.

As an entrepreneur all you have to do is the first step of social media 1.0 having a website and quarterly blogs and an e-newsletter. Your commitment to these will guarantee that your posts will be the first that come up on search engines … not one post of an unhappy customer.

Having said this, it sounds like social media fear mongering doesn’t it? Meaning the reason to participate in social media is because an unhappy customer will write something negative about you. This is the absolute worst reason to be involved in social media.

The best thing about social media is it will help you to find your voice and in doing so, you will add value to others.

What you practice in private will be rewarded when posted in public.

Here Is A System To Improve Your Recommendations On LinkedIn

November 14, 2011 by · Leave a Comment 

Here is a system that we just created to simplify receiving Recommendations on LinkedIn.

I believe that clients have far too much on their mind today to stop to take the time to create a LinkedIn recommendation.

Just like asking for testimonials, we have always used this procedure to create these kinds of testimonials.

We have taken the step to another level by writing the following procedure to give our advisor clients that have given us testimonials the instructions on how to imbed their specific testimonial into a LinkedIn recommendation.

I believe that the advisor or coach in our case must make it easier for their client to do the recommendation or it will likely not happen.

Given the strength of our client relationships and the testimonials, the recommendations on LinkedIn should be seamless.

One last thing, as far as do’s and don’ts when asking for Recommendations on LinkedIn …

Make sure the testimonial / recommendations are sincere and from the heart – not canned.

One could make it a goal to get a testimonial / recommendation every two weeks or every month, that way their LinkedIn Profile is being updated.

I don’t believe one can have too many sincere and from the heart testimonial / recommendations.

One thing I know for sure is; I have received an on-mass request ( spam ) for a recommendation and I barely know who the person is – very tacky!

Creating A LinkedIn Recommendation Using Your Testimonial for Simon

Dear Client,

Thank you very much for going out of your way to offer the following testimonial that you have provided me with.

“When I saw Simon first present the One Page Business Plan I immediately knew I could use his help. Every year I have to complete a business plan and I agonize over preparing the details. With his program, it is easy to get started. You can just click on the tabs and put a Business Plan together in a very short period of time. Then, I was lucky enough to have won his book as a door prize. I didn’t have to get very far into his book to realize there was some very powerful material in it that really resonated with me.

Besides having a business plan which is concise and easy to follow, I’m enjoying even more the personal development work we are doing in my coaching sessions. I have always attended motivational speakers, seminars, workshops and have worked with other business coaches but this is a different experience than everything else that I’ve done. Firstly, it is so personalized. Simon works with me – not just a group in a room. Secondly, business roadblocks are always about the psychological side and all the other stuff that gets in our way. His coaching is getting to the inner core, the WHY behind the perfectionism, the procrastination and at times the workaholism, trying to seek the approval of others. I don’t think there’s anybody else touching that.

Simon gives very personalized service: picking out material/exercises that I need to complete to improve. I didn’t realize initially how much material would be here. I love this stuff. Not only that, but Simon is helping me build a good team around me and that is an extra bonus and value for my money.

I find his coaching very helpful and I appreciate having him in my life.”

I am wondering if I can ask you for one more step and that is given that we are connected on LinkedIn, would you be open to offering the same testimonial as a LinkedIn Recommendation?

I have included easy step-by-step instructions to guide you through the process.

In a way, this exercise will be a learning experience that you might be able to model with your own clients.

Thank you,

Simon

Step 1. Here is your Testimonial. Highlight and copy it.

“When I saw Simon first present the One Page Business Plan I immediately knew I could use his help. Every year I have to complete a business plan and I agonize over preparing the details. With his program, it is easy to get started. You can just click on the tabs and put a Business Plan together in a very short period of time. Then, I was lucky enough to have won his book as a door prize. I didn’t have to get very far into his book to realize there was some very powerful material in it that really resonated with me.

Besides having a business plan which is concise and easy to follow, I’m enjoying even more the personal development work we are doing in my coaching sessions. I have always attended motivational speakers, seminars, workshops and have worked with other business coaches but this is a different experience than everything else that I’ve done. Firstly, it is so personalized. Simon works with me – not just a group in a room. Secondly, business roadblocks are always about the psychological side and all the other stuff that gets in our way. His coaching is getting to the inner core, the WHY behind the perfectionism, the procrastination and at times the workaholism, trying to seek the approval of others. I don’t think there’s anybody else touching that.

Simon gives very personalized service: picking out material/exercises that I need to complete to improve. I didn’t realize initially how much material would be here. I love this stuff. Not only that, but Simon is helping me build a good team around me and that is an extra bonus and value for my money.

I find his coaching very helpful and I appreciate having him in my life.”

Step 2. Login to your LinkedIn account and find Simon in your contacts.

 

 

 

 

Step 3. Click on Simon’s contact listing to open his profile and click on Recommend Simon in top right hand corner.

Step 4. Click on Service Provider and fill out the form that opens up. Your testimonial can be pasted into the Written Recommendation.

 

Click Save and you are finished!

 Please note that I have just written this process and we have not launched it yet.

September 2011 E-Newsletter – Plan · Practice · Profit – Colin Powell’s Leadership Rules

September 26, 2011 by · Leave a Comment 

Read the latest Leading Advisor E-Newsletter:

Colin Powell’s Leadership Rules

Leading Advisor Social Media Survey Re-Visited

September 19, 2011 by · Leave a Comment 

I was interviewed by a publication that serves financial and investment advisors on Thursday, September 15th about this Social Media Survey June 10, 2010 blog post that I wrote and here are the questions that I was asked along with my replies.

How many (approximately) financial advisors did you poll regarding their use of social media?

69

Were they advisors just based in your practice region of B.C.?

47 were from the a presentation that I did for The Independent Financial Brokers in Toronto and 22 were from a private company event that I did in BC, again it was ad hock.

Did many speak out about their compliance concerns, or other fallbacks of using social media for business purposes?

The survey was conducted by doing a web search of the names of the financial advisors so there was no verbal communication.

What surprised you about the results?

I wasn’t surprised and the results confirmed the CNBC results from the article I mentioned in my blog. LinkedIn is clearly the social media business platform of choice and one doesn’t really need a compliance department to question whether they want to be on FaceBook when FaceBook’s privacy policies have been at FaceBook’s discretion at times. So that seems to be FaceBook’s challenge from an advisor / compliance point of view and Twitter appears to be just too far out there. Some advisors are still finding their voice when it comes to their values, vision, purpose, mission, brand and tag lines without having to hammer it all into 140 characters on Twitter. Wired Magazine has a segment on Wired, Tired and Expired and their latest issue listed Twitter as Expired.

What inspired you to bring up this topic of social media in the first place? Do you and Laura use it for your own practice? How?

I’m just as curious about Social Media ROI as everyone else. I’ve been investing in what I call Social Media 1.0 which includes a web site, blog and e-newsletter since 2004 / 2005. I write about practice development and personal development financial advisor areas of interest. I’ve engaged the big 3 of Social Media 2.0 that include FaceBook, LinkedIn and Twitter a couple of years ago. Social Media for us is about building our brand while we invest our time in good old fashioned Marketing 101 activities like financial advisor speaking. Social Media is a tool to support Marketing 101 and one should never forget the basics. A sale requires human contact and clients that are investing in a consultative product or service want personal service. While there are plenty of instant social media experts representing sales results from consumer based simple transactional products like a book, advisors deal with consultative selling and should not assume that they will get the same results that so called experts are offering which are based on consumer based simple transactional products. Social Media is not a quick fix for instant sales success and it takes time just as any brand building does.

Will Your Prospective Client Know Who You Are When You Call?

August 25, 2011 by · Leave a Comment 

There is so much talk about Social Media it is overwhelming and I can see that a financial advisor or an investment advisor could easily get overwhelmed with all of the instant social media experts that are out there.

I see marketing / social media as this way from the bottom up:

3) Social Media 2.0
2) Social Media 1.0
1) Marketing 1.0

I believe you need to have a strong foundation in marketing 1.0 before you can go onto social media 1.0 and social media 2.0. In a way it is like trying to create a brand for a business with first knowing your values to build a vision and business plan on.

Here are the points of Social Media 2.0, Social Media 1.0 and Marketing 1.0.

In my view, don’t bother getting into social media unless you have the basics in marketing 1.0.

Marketing 1.0

  • Brand Your Business with the One Page Business Plan & Sentence Stems
  • Segment Your Clients
  • Profile Your Ideal Client
  • Choose Your Niche
  • Prospect Your Ideal Clients With Drip Marketing
  • The Attraction Marketing Program
  • The Elevator Speech
  • The Referral Card
  • The Parable
  • Find Your Client’s Problems & Solve Them
  • COI & Strategic Alliance Marketing
  • Articles & Press Releases
  • Market Yourself Through Speaking
  • The Speaking Folio
  • Seminar Marketing Systems
  • Simplify The Testimonial Process
  • Write & Publish Your Book

Social Media 1.0

  • Set The Stage for your Website, E-Newsletter & Blog

Social Media 2.0

  • Simplify FaceBook, LinkedIn and Twitter

The whole point of Social Media 2.0, Social Media 1.0 and Marketing 1.0 is so that clients will know who you are when you call them because the financial services is still a relationship business and you have to take some action to form some real personal interaction.

Do your social media, but do the fundamentals first.

I Might Be Committing Sin #4 & Of Amy Mcllwain’s Seven Deadly Social Media Sins

August 12, 2011 by · 2 Comments 

According to Amy Mcllwain of Financial Social Media, these are The Seven Deadly Social Media Sins:

1. No Social Media Compliance Policy
2. No Social Media Strategy
3. No Archiving Software
4. Mixing Personal and Professional
5. Ranking Quantity over Quality
6. Push Marketing
7. Failing to Follow-up

Here Sin #4.

4. Mixing Personal and Professional. So you had a fun time last weekend – dancing, drinking and having a good time at a friend’s wedding – and consequently a few tagged pictures of you appear on Facebook. There’s nothing wrong with sharing those photos with personal friends and family, but the last thing you want is for a client to see those photos and find you unprofessional. Maybe you’re a huge Packers fan, but your clients are not, and posting status updates about their amazing Superbowl win may irk them a little bit. The bottom line? You need to separate your personal and professional relationships on all social networks. Create lists in Facebook and change your privacy settings. Don’t post incriminating content that you wouldn’t want your professional connections to see.

While I have a separate personal FaceBook site from Leading Advisor’s Fan Page, I do share what Laura and I do personally to demonstrate that we are walking our talk when it comes to having balance in our lives and it is also about sharing your authentic self on social media and here is an example of what i am talking about in; What Percentage Of Advisors Show Their Authentic Self?

What do you think?

Am I committing Social Media Sin #4?

At the same time, don’t dance, drink or drive on business social media.

Here Are Some Of Leading Advisor’s Social Media Metrics

August 9, 2011 by · Leave a Comment 

This news bite caught my eye the 2nd week of July.

The Securities Div. of The Office of the Secretary of the Commonwealth of MA found 41% of advisors using SM use LinkedIn, 14% use FaceBook & 8% use Twitter.

We did this ad hoc social media survey back in May of financial advisors that provided us with financial advisor speaking testimonials from the last two events that I spoke at, and here is what we found:

  • 49% of advisors were on LinkedIn
  • 9% of advisors were on Twitter
  • 7% of advisors were on FaceBook

This confirmed an assumption that I have had for a while that most advisors are engaging Social Media 2.0 via LinkedIn versus FaceBook or Twitter for either the reasons of compliance or time.

Here are the results of the advisors that are connected with us on Social Media 2.0; FaceBook, LinkedIn and Twitter

  • 75% LinkedIn
  • 20% Twitter
  • 5% FaceBook

If we include Social Media 1.0, our Plan * Practice * Profit E-Newsletter Readers here are the numbers:

  • 71% Plan * Practice * Profit E-Newsletter Readers
  • 22% LinkedIn
  • 6% Twitter
  • 1% FaceBook

What does this mean?

That we have created our social media 1.0 and 2.0 following through financial advisor speaking, it didn’t happen by itself.

Free One Page Business Plan Webinars September 9 & 28th – Register Now!

Announcing Leading Advisor’s One Page Business Plan(TM) Free Webinars and the One Page Business Plan(TM) Webinars!

“If you don’t get the words right, you might build the wrong business and may never get the numbers right.”

The dates for the One Page Business Plan(TM) Free Webinars are:

  • Friday, September 9th at 11:15am EDT
  • Wednesday, September 28th at 12:30pm EDT


Who should attend?

  • Do you have too many scattered ideas?
  • Do you need to focus on a few?
  • Do you need to jumpstart your business right now?
  • Do you have no time or interest in writing a 50 page business plan?
  • Do you need to determine if you’re focusing on the right things?
  • Do you need an effective blueprint to keep yourself and team focused?

Then consider a fresh, simple approach to business planning that will enable you to focus on what is important…the One Page Business Plan(TM) – a powerful tool for building and managing a business. It’s short, it’s concise, and it delivers results quickly and effectively. There can be no question as to where your business is headed when it is in writing, especially when you have the key essentials about growing your business clearly specified on a single page.

Is this another ho-hum course on business planning like the ten others you have attended – no way! I know how to capture the essence of any business in just a few minutes using the innovative key word and short phrase techniques using the One Page Business Plan(TM).

To Register for the One Page Business Plan(TM) Free Webinars:

Call Laura at 250 248-6012 / 1 877 248-6012 or e-mail Laura at moc.r1563675878osivd1563675878agnid1563675878ael@y1563675878llier1563675878l1563675878 and you will receive your GoTo Meeting Webinar Link, Phone Number and Access Code.

  • Friday, September 9th at 11:15am EDT
  • Wednesday, September 28th at 12:30pm EDT

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