Marketing through Social Media
As social media use continues to grow, its importance as a marketing and relationship-building tool grows as well. Advisors who effectively use social media can position themselves as thought leaders and build a following of clients, industry influencers and prospects.
If you are a Principal Securities Registered Representative, you can enroll in the Principal Securities Social Media Monitoring Program to utilize the following free marketing social media tools for business purposes:
- LinkedIn: professional networking and prospecting
- Twitter: branding and news bits
- Facebook*: personal branding and relationship building
See Content Bank at left for pre-approved posts.
*Important information about advisor and business center Facebook use
At this time, Facebook is not an approved social media platform for the foreseeable future. We know you have questions about this, so here are answers we can provide at this time. We’re working with our social media vendors and industry groups and will keep you updated as further information is available.
Why? You likely saw the negative press Facebook is getting for how it manages how applications are using user data. In response, Facebook made some significant changes to what information it grants to applications. Unfortunately, the applications affected include compliance monitoring tools like Socialite (our vendor) and not just data mining and analytics applications like Cambridge Analytica. Facebook didn’t seek input, and we’re working to have them understand the industry’s position.
What does that mean to me? FINRA has made it clear that firms must have the ability to supervise the business-related content associated persons are communicating on social media sites. And these changes mean we’re not able to adequately monitor and supervise activity on Facebook. We understand this affects your business activities, and we’re actively working toward a better solution. Our vendor and industry contacts tell us other broker-dealers are similarly affected and need to take action as well.
What do I have to do? All Facebook approved monitored users (advisors and business center page administrators) must:
1. Stop all Facebook activity immediately. (As an option, there’s an approved post you can use explaining why the page is quiet.)
2. Turn off the ability for users/fans to post on your Facebook page.
Is there anything else I can do on social media? We recommend you get in touch with your business center’s regional marketing consultant, and they can help you maximize LinkedIn.