The recent Putnam Social Advisor Study reported on in the Investment News should tell you all you need to know; 79% of advisors responding to the study gained new clients from social media.

While social media is a great avenue to expose yourself to a new audience, it must be used in a purposeful manner. Merely putting yourself out there so to speak, will do little more than give you carpal tunnel and calculator

So how should you use social media? Here are a few useful points from the study to keep in mind:

  1. Post original content as a way to build credibility and your presence.
  2. Use catchy titles to attract your target audience.
  3. Suggest that your readers share your postings with family and friends.
  4. Engage in some self-promotion; i.e, provide a link to your social media page in your electronic signature.
  5. Engage journalists; mention them in your pieces and they may mention you in the future.
  6. Tell your readers something about yourself unrelated to being a financial advisor.
  7. Make sure you have mobile apps so that you can access social media wherever you may be.

The key to making social media work for you is trial and error. It may take some time to make connections and build your credibility. If you opt instead to use the tired hard copy newsletter to reach your target audience, you are sure to miss out on what 79% of your colleagues have already learned; social media properly used is the key to build a practice.