The Socially Savvy Advisor + Website: Compliant Social Media for the Financial Industry

Chapter 27Do We Need a Social Media Manager?

By now, establishing a social and digital media presence and campaign has transformed from a question of “Should I?” into “How do I?” But as we've learned, implementing one of these plans requires knowledge of not only the variety of social media platforms and how to use them, but also how best to leverage these sites to achieve your desired results. Marketing is crucial to any organization, whether it be a single independent advisor, a large asset management firm, or even an association, and social marketing has become something your consumers (both investors and advisors alike) have come to expect. If you don't have a social or digital media presence, your competitors likely do—and you risk losing market share.

Asset management firms typically have an easier row to hoe, since they often have a much larger marketing budget, but individual advisors must also invest in marketing. At this point, many of you may be asking, “But isn't the beauty of social media marketing based on the logic that it's more or less free?”

While the simple answer is yes—many powerful social media avenues can be capitalized upon for nary a cent—it doesn't take into account all the man-hours required to make it successful. Let's explore some ways you can determine if hiring a social media manager is best, or if you're better off to manage it yourself.

So What Does a Social Media Manager Do?

You may be surprised at just how many hats an ace social media manager ...