Advisers shunning social media
Social media doesn't play a major role in most advisers' marketing strategies, with the majority still favouring traditional pathways like referral networks, a survey has revealed.
Despite the proliferation of social media in the corporate world, not one of the surveyed planners cited social media as their main source of marketing, according to the latest Slice survey.
Instead, the default marketing strategy was professional referral relationships (33 per cent), followed by asking existing clients to refer new clients (28 per cent).
More than one in 10 (11 per cent) said their website or blog acts as their main marketing source, while the same proportion used networking as their go to strategy.
Slice author, Peter Dawson, of the Dawson Partnership, said the results were somewhat surprising, given the popularity of social media in other domains.
"We expected to find one or two respondents reporting social media as their main marketing strategy. This was not the case in this sample, although comments indicated that practices are using social media to support other strategies, for example by sharing newsletter articles via social platforms," he said.
AUTHOR
Staff Writer
Recommended for you
An acquisition of two advice practices by a national advice group has led to a shift in financial adviser numbers, with one losing 33 advisers as a result.
Platform HUB24 has taken a minority stake in an alternative investment company to design and offer a range of alternative products to financial advisers.
Contract Paraplanning Services, previously led by director Hayley Knight, has been acquired by two new owners looking to drive further growth in the business.
The vast majority of financial advice firms which are fully embracing and adopting new technologies are reporting an annual revenue north of $1 million, Netwealth reveals.
