Advisers need to surrender traditional referral methods and embrace social media to build trust and attract new clients, a forum has heard.
Given that 7 in 10 people are on Facebook and half of people over 65 use the social media platform, it is one of the most effective and efficient ways of targeting unadvised Australians, Adrian Patty of AP Financial Solutions said.
Patty uses a process he calls ‘attract, engage, nurture and close’, which begins with leveraging Facebook’s ability to use demographic data such as age, interests and location, to target paid advertising to potential clients.
Patty said videos can be used on Facebook to introduce your personality to potential clients and build trust and rapport.
“It’s not about how much you know; people don’t care,” he said. “Advisers who do it well are sharing about themselves, sharing their personalities.”
Certified Financial Planner Adele Martin has set up a Facebook group called The Savings Squad, which she uses to engage in conversations about personal finance. She agrees Facebook helps build trust.
“The more people see you, the more they trust you and the more likely they are to engage with you,” said Martin, who picked up 11 new clients after a webinar she posted on Facebook.
Corey Wastle, co-founder of Verse Wealth, sends video messages to his clients after consultations, using a free tool called Loom, which can be downloaded online.
In his experience, one of the main inhibitors of effectively video use is the expectation that they should be perfect.
“Don’t let that hold you back,” he told advisers in the room.
Patty agreed advisers don’t need to go out and buy an expensive camera or professional lighting to have an impact on clients.
“Videos can be done on your phone,” he said. “The phones are so good these days, all you need is a tripod.”
