Embracing social media without breaking the rules

The hesitation surrounding social media within the investment management industry is slowly decreasing as firms begin to realize its value.

Social mediaThe use of social media as more than a traditional advertising and marketing outlet was a hot topic of conversation at the 2013 NICSA Annual Conference in February where an interactive panel representing member firms kasina, Vanguard, Bank of America/Merrill Lynch and Russell Investments discussed how social media has taken an active roll within their companies and their experiences implementing a “compliance-friendly” online communication strategy.

Take a look at what this panel of experts had to say about social media and the strategies for success:

  • Focus on engagement ratios. Engage clients in a two-way conversation, by participating and listening. Don’t push out content that isn’t going to benefit the reader.
  • Gain their trust. Prove your mission and provide value to your clients through candid, transparent and authentic conversation. Learn what’s on investors’ minds and what they care about.
  • Monitor competition. Embrace the publicity of the World Wide Web. Social media provides a great outlet for monitoring competing firms and ensuring your online presence is unique.
  • Embrace the mobile movement.  Smartphones provide easy access to the online community. Optimize your website and other online networks for mobile devices.
  • Go to the people.  Learn to extend your thought-leadership throughout the online community by engaging with other audiences. Provide different types of content (i.e. whitepapers, videos, blog posts) to attract different types of followers.
  • Measure your success. Use analytics and measurement to show how your online presence has grown over time. When it comes to social media, the truth is in the numbers.
  • Stay compliant. Sometimes the compliance processes can slow down the distribution of content. Always have a clear strategy and stay educational.

The most important aspect to remember when it comes to social media is that the control lies in your readers’ hands. Give them newsworthy, value-added content that they can’t get anywhere else.



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