Why Brokers Should Use Social Media
With the world of investment banking now open to a much more varied class of clients, brokers who are actually remaining successful in the industry are taking on some new characteristics. One of these characteristics is the use of social media. Below are just a few of the reasons that all brokers should be on social media.
First, social media is where new clients with expendable income congregate. The new investment banking industry is a much less exclusive place than it was before. Commercial advertising is becoming commonplace, and the best place to do commercial advertising today is on sites like Facebook, Twitter and Pinterest. 85% of new business finds today are from social media according to Forbes magazine.
Second, brokers can highlight themselves as authority figures on social media. Savvy brokers on social media are not advertising in a traditional way. They are ingratiating themselves to social leaders using more informational techniques than advertorial. Basically, if you become the financial authority to a social leader, you will eventually gain the attention of that social circle. These people do not pay attention to ads; they pay attention to information that is relevant to them.
Third, brokers can highlight emerging trends much more easily from the vantage point of the consumer. Most new trends start from social media. By the time they scale the heights of Wall Street, all of the good money has been made. If you are in the trenches with the people who are creating the trends, then you have an inside edge that can put you far ahead of the curve when it comes to investing in those trends.
Fourth, visibility is the new name of the investment game. You may not believe that you need more visibility in order to gain more clients, but even the financial industry is based on a level of popularity now. The more that you are seen in the public eye, the more clients that you have access to.
The world of investment banking is no longer one of secret meetings and super rich, exclusive clubs. These people are still mistrusting of the financial elite because of the behavior of the industry circa 2008. There is very little that can be done about this right now except to go to the people who have not been jaded. Social media is the number one way to access these people in a big way.
Jonah Engler is a Financial Expert based in New York City. A full time stock broker, franchise owner, coffee lover and investor; Engler helps startup businesses and franchise’s grow through smart financial planning.