How Can Financial Advisors Scale Their Business Using Social Media

Short answer: have a plan and measure results.

Better answer: Understand the formula for performance improvement and implement specific steps on and offline to make sure you are antifragile.

First we have to have some agreement about what being antifragile means. How about we use this from the author that introduced the concept?

"Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Yet, in spite of the ubiquity of the phenomenon, there is no word for the exact opposite of fragile. Let us call it antifragile. Antifragility is beyond resilience or robustness. The resilient resists shocks and stays the same; the antifragile gets better". Nassim Nicholas Taleb in his book Antifragile: Things That Gain From Disorder.

If there is one thing I can promise #financialplanners today it is this: Things are going to continue to change and you will be measured based upon how you respond to those changes.

One of the challenges with the 'embrace the grind', or, 'I am resilient' platitude police is that often those mindsets are amazingly strong...until they encounter adversity and then they crumble because of their inherent fragility: Principles and values are antifragile...rules often are not.

"Ok Mike, bring this back around to #socialmedia." Got ya and fair enough.

One of the greatest things about social media is that when we use it intentionally and with a focus for engaging with our target clients in a human way that drives revenue...we can change our lives and the trajectories of the companies we work with.

One of the greatest downsides of social media is that we are doing the work, most often, in a non optimal physical environment. In other words, we are often sitting, inside and hunched over. This leads to fragility in our health over time if we don't have a strategy to 'balance' out the negative effects.

Enter the universal performance formula: Stress + Recovery = Adaptation.

We need to be able to drive revenue from our efforts on social, while being emotionally authentic and engaged with other human beings and that guessed it, time on social. That is a stress. Note: this isn't bad stress. But, to ignore its effect over time is foolish.

Don't stop doing social (I certainly am not), instead apply a recovery strategy so that the adaptation you are driving (equations create movement) is positive. I have been super involved on social over the past four months in a massive learning and growth stage, but, I neglected my recovery strategy and am having to do a recalibration to make sure I continue to drive positive adaptations.

Here are some core things that I feel need to be included in strategic use of social media by financial planners and, quite frankly, anyone looking to drive revenue from their time on social:

  1. Get outside. Research is beginning to clearly demonstrate that our brains and our bodies need to be outside moving for at least 20 minutes per day. Ideally, maximize as much of this time as far away from modernity as possible. For me, that means I am getting into the woods or on the water...trying to avoid as much exposure to electronics, vehicles and noise as possible. Btw, listening to a podcast or music while doing this destroys the recovery portion. Get used, once again, to the healing path of quiet and boredom.
  2. Do hard things periodically (monthly is a good initial plan). If you aren't challenging yourself physically and mentally (they almost always coincide) on a regular basis you aren't going to recover well. I know this sounds crazy, but, the process of doing a very challenging hike, mountain biking trip or paddling excursion will promote great things in your mind and body for days long as you don't kill yourself.
  3. Be strategic about your use of social. If you can' measure the results easily on a weekly, monthly are being tactical. I know what metrics I need to be hitting to produce the revenue I you? Hint: look at the % of folks reacting to your content that are your ideal clients. Sadly, for most financial planners it seems to be primarily other financial planners/advisors. This is because you are making some fundamental errors strategically and automation won't fix them.
  4. Be Human. One recovery strategy you can do online with social is to be authentic (not the Instagram authentic) online. Share personal stories about the great joys and the significant challenges you have encountered in your own unique expression of humanity. For me, I have started sharing about the massive challenges and joys associated with being the father of a severely disabled son (#autism is the really hard one for us). This has brought me recovery, even while online emotionally and socially.

There really isn't enough space and you won't read this long enough to detail out the complete strategy. However, this is the real starting point for your own journey towards better performance on and offline. The formula is real and the process works. If you get stuck, or, don't know where/how to start, just comment below or direct message me and we will get you back on the path!

Be Social, Be Human and Be Better.

Related: How Financial Advisors Can Be Givers on Social Media