Advent Software’s Katherine Calvert explains why and how investment managers should use social media
Katherine Calvert, vice president of Marketing at Advent Software, says that asset managers may be pleasantly surprised by the rewards they could gain from social media commitments.
As an investment manager already dealing with an alphabet soup of regulations and compliance issues, you may be asking yourself: can social media be applied to my business and is it really worth the effort to utilize these tools? More importantly – how can I leverage its power to help grow my business without wasting valuable time?
Social media’s potential value to investment managers is significant and continues to grow. It provides a remarkably intimate and direct – not to mention inexpensive – way to connect with clients helping to build relationships, trust and share both your point of view and important news. It should be considered a very valuable strategic marketing resource.
That being said, with obstacles like an increase in regulations and internal company compliance policies, asset managers arguably have more barriers to adoption than professionals in other industries. Despite these challenges, investment managers of all sizes are finding ways to effectively work within the parameters of compliance.
There are a tremendous range of benefits to social media, but there is no “one size fits all” solution. It should be adopted in strategic, tailored ways to support your business strategy and goals. I’d like to highlight three potential benefits of social media that I believe are essential for investment managers -fostering client relationships, conducting research (on both clients and competitors) and leveraging search engine optimisation (SEO).
Foster client relationships
Relationships are at the heart of social media success. Engagement is truly what sets social media apart from more traditional business-to-client communications and social media has been proved to have a powerful amplifying effect-provided it is used correctly. Firms need to show that they are where their client base is – networking online. And remember, your target audience is already using social media even in the investment management industry.
Basically, you’ll want to focus on sharing content that is valuable and relevant to your audience. Here are three main guidelines to remember:
Be authentic: People know when you are being authentic – and when you’re not
Have something to say: You’ll build their trust. If you waste their time, they may not come back. Also, keep in mind that it is better to connect a bit less often with valuable information and interesting comments rather than to share information without a purpose all of the time.
Respect your readers: Using good judgment is paramount. Know what’s appropriate for your audience.
People prefer to do business with those they know and like. In short – solid relationships will lead to more business opportunities.