Every month, we round up some of the most important social media updates that might impact how you market your firm. From Facebook algorithm updates to new ways to network on LinkedIn, things are always changing in the social media world.

APRIL 2019:

Let’s look at some of the most pressing social media updates from April 2019 and how they might impact your marketing plan:

Facebook is Testing New Reactions

While not necessarily breaking news, one thing we saw come from Facebook in April were new, more animated “reactions.” Reactions are what you can add to someone’s post and include Like, Love, Haha, Wow, Sad, and Angry. Gone are the days of merely “liking” someone’s post. Now, you can respond with different emotions depending on how you feel.

Many users might think this is merely a cosmetic change, but there’s actually data surrounding the change. Since Facebook launched Reactions, they have seen their use steadily increase over time. In addition, Facebook uses Reactions to gauge what to show in your feed and you reacting to people’s posts changes your unique algorithm. For financial advisors, this means that your social media posts that get more Reactions could have more visibility and reach, so you may want to consider adding posts into your social media strategy that are built for reactions. You could ask questions, ask your followers’ opinions on topics, or share updates about your firm.

Facebook Hits 2.3 Billion Monthly Active Users

Our second update is about Facebook, as well. Despite recent privacy scandals and younger audiences swaying toward other platforms, Facebook reported 2.37 billion monthly active users at the end of Q1 2019. This is an increase of 55 million users since the previous quarter. Of those 2 billion-plus users, over 1.5 billion of them log into the social media platform every day.

It’s no secret that Facebook is a major marketing opportunity for financial advisors. Your clients are on Facebook, their kids are on Facebook and, depending on your clientele, their kids are on Facebook. If you aren’t taking advantage of this massive reach, you should be. We’re always here to answer any social media marketing questions you may have, just request a demo today to get started.

Instagram Experiments with Hiding “Likes”

Instagram is a photo-sharing platform that is great for business and personal use, alike. But when taken too far, social media can facilitate vanity metrics and affect user’s perception of themselves. We are seeing more and more people, both young and old, merely focus on the number of Likes their photo gets, so this month Instagram quietly rolled out an experiment to hide Like counts on some users’ posts. With this test, the user can see how many Likes they get on their end, but no one else can. This is an interesting social experiment and we will see what comes of it as the test evolves.

Pinterest Has 265 Million Monthly Active Users

Pinterest is often a looked over social media option for financial advisors, but its steady growth says otherwise. This month, Pinterest reported having 265 million monthly active users, up from 250 million from Q4 of last year. In addition to increasing their users, Pinterest has continually shown that their users are actively engaged, with 90% of weekly users reporting using the app to make purchasing decisions. They also actively Pin and Re-Pin posts from the app and from around the web.

While Pinterest might not include your target demographic, it may be a marketing strategy to consider, especially if you want to target younger advisors. Users on the app value high-quality content and informative articles, so using the platform as a way to build yourself up as a thought leader could be an efficient strategy. Try reporting your blogs or updates on Pinterest once a week and see if your website traffic increases. But first, read these helpful guidelines on Pinterest marketing!

These are just a few of the many social media updates we saw in April 2019 that impact our financial advisors. Social media is always changing and having a diverse and adaptable social media marketing strategy can help set you apart from the competition.

 

MARCH 2019

There’s always something new on the horizon when it comes to social media marketing. Here, we’ve rounded up some of the most important updates that occurred in March 2019 that financial advisors need to know about. Learn more about how you can leverage social media for your advisory and stay on the cutting edge of these ever-changing platforms.

LinkedIn Live

Last month, we talked about how LinkedIn has reached record highs and why this platform should be part of your financial advisor marketing strategy. In addition to its staggering numbers, LinkedIn has also been releasing some valuable features that may interest financial advisors on the platform. One of those releases is LinkedIn Live, which was released in February but is starting to gain traction this month. This live video broadcast service gives people and organizations the ability to broadcast real-time video to select groups, or to the LinkedIn world at large. Try doing a live Q&A on your page to discuss market updates, or look out for streaming keynotes from conferences. Think: CEOs streaming keynotes about new product updates, Q&As led by industry thought leaders, and digital conferences that make it easier for the 610 million professionals on the site to further their practice. As of now, LinkedIn Live is invite-only, but keep your eyes peeled for the release of this cool, new feature.

In addition to LinkedIn Live, the site has also launched its “What Are People Talking About?” widget on their home screen.

Keep an eye out for trending topics in the finance industry, or centered around your community, and write up a post to increase engagement.

Meet Twttr

Twttr is Twitter’s new prototype app that aims to test out new ideas outside of Twitter’s public network. The prototype launched mid-March and users can join the conversation and help Twitter build out new features by using the hashtag #LetsHaveaConvo. The app will focus on testing new designs, conversation threads, and other new features. Twttr might not immediately be of any use to you in your social media marketing, but it’s a fun new tool that shows that Twitter is considering users’ feedback before making major changes to the platform.

Google’s Broad Core Search Ranking Algorithm Update

A few times a year, Google releases major broad core search updates. In 2018, we saw these updates in March, August, and September. We haven’t seen any major updates since then, until March 12, 2019. In March of this year, Google announced its most recent broad core search ranking algorithm update. It’s still too early for tech experts to pinpoint exactly what this update changed, but a few highlights are:

  • The update will continue to value expertise, authoritativeness, and trust through links. This means that if a major site, like the CDC or CNN, links to a site, they will be rewarded. In other words, Google is increasing the amount of power of certain links, while decreasing the power of other links.
  • This update rewards sites that have relevant content, while sites with generic content that isn’t relevant to their users might see a decrease in organic traffic.

One thing that’s really important about this Google algorithm update is that just like Medic in August 2018, it impacts what Google calls “Your Money or Your Life” sites, or sites that impact the future happiness, health, financial stability, or safety of users. As a financial advisor, your site may fall into the financial stability section of this algorithm, which means that you need to be providing trustworthy, quality content to your clients and prospects to continue to rank well.

The landscape of SEO and social media marketing is always changing, which is why we want to update you on these major news stories. As always, feel free to reach out if you have any questions about optimizing your marketing strategy for your financial advisory