Recorded at the Market Counsel Summit. Presented by:
Advisorpedia interviewed Amelia Garland from CityWire, Courtney McQuade from CityWire, Matt Halloran from Proudmouth, Doug Heikkinen from Advisorpedia, Diana Britton from Wealthmanagement.com and Matt Ackermann from Integrated Partners at the MarketCounsel Summit in December, 2021.
"What is the biggest mistake that advisors make when working with the media? Well, after a long time with the media, I decided the smart thing to do was talk to some other media folks to see what they think ..."
"The biggest mistake advisors are making when they're working with the media, that they don't use their own voice. They are pushing out marketing collateral investment pieces on the market, and not them. And you can tell, because we all know what was the marketing push, but we we really need to be able to see who's behind that. And I think showing your voice being authentic with your voice telling your story. That's what we want to see in the media. And we really haven't."
"Well, I think in social media, the biggest mistake that I see advisors make is not being social, they'll post something, and then they won't respond. So once I told her advisor, think of it like you're walking down the street, and you run into a colleague, and you posted something, and they said, 'Hey, congratulations on winning your award,' would you just dip your mouth and walk on by? No, you'd say, Hey, thanks, buddy, right. So when you post something, if somebody comments respond, just like you would think of social media, digital media, as though it's in real life."
"The biggest mistake I've seen is that advisors are afraid to do it. They just have so much fear. And it's always about compliance. It's like they use compliance as their scapegoat. But compliance will allow you to be in the media and you should get it's a great way to get your voice out in the marketplace."
"I see a ton of content on Advisorpedia articles, podcasts, videos — the biggest mistake advisors make is when they make it about them, and not the industry. We have to remember why we're all here. And that's the end investor. So when you're working with the media, make it about them."
"I think the biggest mistake advisors make when working with the media is just not knowing what's of interest to us, what we write about a lot of advisor, a lot of advisors contact us with market commentary and personal finance stuff. And that's not really what we write about what interests our readers, the best stories for us. I find our you know, involved frustrations advisors have with whether it's their broker dealer or their custodian, or other vendors, other partners that they work with."
"Those are some great ideas. But what do I think is the biggest mistake they make? They don't engage with the content, share it, talk to them on social media, make it more like a community. And guess what? They're gonna come back to you for more great ideas."
Resources: FP Transitions