Here's a short video we made recently for Nucleus' YouSpeakTelevision on YouTube.  

It's for the financial adviser market and highlights some key tips on how to use Social Media in their businesses.

Throughout 2012, we've been asking Financial Services product and service providers (that's life, pension, savings and investment companies, financial software providers, Wrap platforms, RDR support service providers, financial services recruiters etc) about their feelings towards using Social Media to add value to and to engage with IFAs and financial advisers in the new post RDR (Retail Distribution Review) regulatory world. 

What has been exciting to see is that almost everyone now agrees that Social Media is something that will definitely form part of their overall communication strategies with IFAs – in due course. 

This is an important step forward from last year, when, a good 20% of financial product providers felt that Social Media "had no place whatsoever in the communication mix with IFAs".   Some described it as “inappropriate”, “unproven” and “really for kids”.

How things change.  In fact, most Providers now agree that Social Media offers them huge opportunity, which simply needs planning and a clear strategy.  But...

...whilst almost everyone now intends to use Social Media to engage with IFAs and professional financial advisers in some way shape or form, around 98% are telling us that:

• they don’t know where to start
• they don’t have a strategy
• they don’t know who owns it within the organisation
• they have concerns about Compliance and
• they have no resource or expertise within the organisation.

Other than that, they are still very keen!

So how can Providers move forward, given their ‘issues’?

IFA Life (the social networking site for financial professionals) has always been at the forefront of pioneering the use of Social Media within Financial Services.  We passionately want Providers to benefit from Social Media.

IFA Life's workshops for Providers consistently receive top reviews, leaving attendees with a much clearer path for moving forward with Social Media in their companies.  Many have built their plans around what they learnt at our workshops.

Our final workshop of 2012, hosted by me Philip Calvert, takes place in London on the 21st November – so don’t miss this chance to finally get a grip on how to use Social Media to engage with IFAs and financial advisers.

http://providersocialmedia3.eventbrite.com/

The workshop is suitable for anyone at any Provider – whether you are in Sales, Marketing, PR/Comms, Customer Service, Compliance or even at Board level.  The workshop will benefit everyone.

And by ‘Provider’ we mean any company, large or small who provides products and services to IFAs and professional financial advisers.

We still have a small number of discounts available for small Providers, so grab this opportunity while you can.  If you have any questions, please don’t hesitate to contact me at philip@ifalife.com

We look forward to meeting you on the 21st November.  Please sign up here:  http://providersocialmedia3.eventbrite.com/

The schools are back, the roads are clogged and there's an Autumnal bite in the morning air.

I've always liked this time of year; the 'back to work' feeling has energy and excitement in it.  I've even heard two Coalition spokemen saying that "the Government is back after the Summer break and fizzing with ideas".

Yes, both spokesmen used the word "fizzing"; no doubt thought up by the Government spin masters.

But it at least sounds good, and gives a sense of energy, activity and expectation.  But for most casual observers of politics, words are not enough.  The people want action to back it up.  Actions speak louder than words and all that.

I work with many businesses in highly regulated environments and professional services.  A lot of them are intensely nervous about using Social Media; their main concern being that they will say something online that might not be 'compliant'.  Quite a few have even resorted to using pre-approved words and phrases in their social updates which presumably their Compliance officer won't get upset about.

This implies that many businesses in regulated industries see Social Media as predominantly a sales and marketing tool, so if they are going to use Social Media then they have to get the words right in case it's seen as a financial promotion or official advice.

What many of these businesses forget (or don't yet know), is that Social Media is not entirely all about sales and marketing, and that it can be used in a variety of different ways - even in regulated businesses.

One of those ways is to create perception about yourself and your business.  One perception that has great value is that of activity; that you are in fact busy, open for business, helping customers, sharing expertise and best practice, networking, hosting seminars, adding value, giving client presentations, connecting people and yes "fizzing" with ideas.

None of these activities should remotely begin to raise the eyebrow of a compliance officer - whatever industry you are in.  They are all valuable and healthy activities that all businesses, large and small should be engaging in.

Use Social Media to share your day-to-day activity.  Show that you are alive, thriving and passionate about what you do and making things happen.

That of course assumes you are indeed alive and active.  If you're not, you're probably heading for trouble and no amount of faking it will make a difference to your prospects.

Social Media need not be a problem for regulated and professional service businesses; use it to give people a window into your world and what you're doing.  Show them that you're positively fizzing with ideas and activity, and that in itself will prove to be one of your best sales and marketing tools.


Philip Calvert is hosting a special one day workshop on Social Media and Conversational Marketing for financial services product providers on 19th September 2012 in London.  Click here for details.