Active investment management’s weekly magazine for fee-based advisors

Trevor Cochrane, CRPC • Fort Worth, TX
Reverb Financial • Securities America Inc.

There are many reasons why I don’t really like social media.

But I love what social media can do for my business.

When I founded Reverb Financial, I knew that social media was going to play a big role for our firm. As I browsed around online, I noticed that very few firms actually had a social media presence, and out of the ones that did, very few did it well.

I think there are many reasons that financial advisors tend to avoid social media. It’s hard work, it takes a lot of time, and it can seem unfruitful. I don’t know about you, but I tend to lean toward things that show tangible results right away. Social media isn’t that.

I put my business on three platforms in late 2020: Facebook (where the older crowd hangs out), Instagram (where the younger crowd hangs out), and LinkedIn (where the professional crowd hangs out). I then started interviewing social media firms that I could outsource my content to. After about six of these interviews, I made a hire that I believe stood out from the rest.

Though the firm created some fantastic content, even featuring my logo, something wasn’t connecting with my audience. I was experiencing very little engagement with what they were putting out. This firm worked for more than 200 advisors, and even though they did a great job, the content wasn’t targeted enough for my audience. It just didn’t sound like it was really coming directly from me.

After six months, I made the decision to start creating my own content instead of outsourcing. It was a frustrating transition! I didn’t want to sit down and take the time to create original content. I would ask myself, “Why am I wasting time on social media when I can be making calls to clients or prospects?”

I started noticing something very quickly with the content I was putting out on all platforms. People were noticing, engaging, and responding. I started getting messages in my inbox. Friends were booking meetings. Social media, to my surprise, was actually converting prospects to clients.

Like I said, I don’t like everything about social media. You may not either. But I can’t ignore the growth it is adding to my business.

Here are a few insights I have learned along the way.

Be consistent

You aren’t going to write one magical post and skyrocket your business. That’s just not how it works. Social media is all about building trust and relationships. A conversion can take months of a prospect seeing your posts and engaging with them. Decide how many posts you want to do per month and stick with it. I usually do one business and one personal post (like me with my kids) per week.

Use tools to help with your design

I use tools from a company called Canva to design my social media content. They make it super easy to create fresh-looking content quickly.

Be authentic

Make sure that you aren’t just “all business” on your profile. People love seeing you in your natural environment, whether that involves sports, music, or family. These posts usually get the most engagement, driving more people to your page to discover more about what you do through your business posts.

Be realistic

Have I already said that social media takes time? You won’t see a massive influx of new clients right away. Be patient with the process and realistic with your goals.

Disclosure: Securities offered through Securities America Inc., member FINRA/SIPC. Advisory services offered through Securities America Advisors Inc. Reverb Financial and Securities America are separate entities.

Photography by Sarah Hailey

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