Aug 2, 2010 1
By D. Bruce Johnston, President and Chief Executive Officer, Advisolocity
There is good news about social media for smaller fund managers and advisors ahead.
The new media platform has enough history to prove its cost-efficiency and value over traditional methods.
According to SocialWare’s Guide to Embracing Social Technologies in Regulated Industries, “The Altimeter Group found that companies with the highest levels of social media engagement increased revenues by 18% in the last 12 months, while the least active declined by 6%.”
While this alone doesn’t prove that all social media strategies have delivered, it does remove one of the barriers to trying a social media effort: social media has been proven to increase business.
A number of investment service providers and publications have been tackling the implications of the growing realization that revenue growth likes social media.
On August 3, Huntington Asset Services, formerly known as Unified Fund Services, will sponsor its first webinar on the topic of Using Social Media to Build Investor Awareness.
Interested investment industry professionals are invited to participate in the webinar by registering here.
The business-building implications of social media for liquidity-pinched financial services firms are growing larger. For example, recent data from marketing firm LederMark Communications underscores the growing popularity of these tools among financial services professionals.
According to that survey, up to 40% of all users say that social media strategies are helping them build new business. Research from Spectrem Consulting Group last spring delivered similar findings:
- 63% of Twitter users read tweets that offer financial advice
- 46% of YouTube users and 41% of Facebook users seek information from social networking investment forums
In addition to offering some practical guidance on how to use social media, the August 3 webinar also intends to feature insights on regulatory trends and archiving solutions.
Huntington Asset Services will continue to expand its social media marketing focus during its annual client meeting to be held September 12-13 in Indianapolis.