December 31, 2013

Our research initiative, Social Media: Research for Producers—What is it? Why do it? How Does it Work?, is complete. The resulting white paper “Media Puff or Real Stuff?” sheds light on the emerging trends in social media in a way that is extremely specific to its application to financial services. Current industry research has been vague at best and focuses more on feelings and forecasts rather than application and results.

The Center’s research gets at the core of social media effectiveness and identifies formulas for success. As advisors (and the companies they work with) recognize the largely untapped potential for social media to be used for lead generation and relationship management, it is increasingly important to understand exactly how these communication tools are being used and how they can be used in a way that is genuine, compliant, and attractive to consumers. At the same time, it is also critical to understand, not just advisors’ enthusiasm for social media communication, but client and prospect receptivity to this type of communication. As such, this comprehensive research involved conducting parallel surveys, examining current use of social media and desired use among both advisors and target market consumers. The results will give a fresh take on social media use in financial services, creating a dialogue between advisors and their clients.

Our key findings include:

  • Social Media 411 – Who is using social media today?
  • Making Connections With Care – What are the boundaries and consequences of using social media?
  • Let’s Talk Privacy – What are the real concerns?
  • The Way Social Media Works Best – What do consumers really want from their advisor?
  • Referrals & The Rules – What’s the good news and the bad news?
  • Breaking Down The Barriers: How can companies support advisors? This exclusive research was sponsored by the Northwestern Mutual Granum Center for Financial Security and facilitated in partnership with the highly qualified research team at Matthew Greenwald & Associates, Inc., Information and Insights through Market Research.

Related Links

The ideas expressed within these links have not been approved or endorsed by The Center or The College. They are provided with the intent of expanding perspective and/or provoking thought.

Advisers and Social Media. Investment News Data. Investment News. Various statistics specific to advisers' uses of social media.

Link Up with LinkedIn. Jean Kelley. Advisor Today. There are 90 million LinkedIn users worldwide, and one new user joins every second of every day. Unlike social media sites like Facebook, where many people use the site for entertainment, all LinkedIn users are business-minded. That means the connections you develop on LinkedIn are more likely to positively impact your business relationships.