ridgeworth investments presents can social networking sites really be used for client acquisition?...

RidgeWorth Investments presents

Can Social Networking Sites Really Be Used for Client Acquisition?

with Kip Gregory, Principal, The Gregory Group

© 2009 Kip Gregory, The Gregory Group. All Rights Reserved.

2Disclosures

Material presented may not reflect the opinions or current policies of RidgeWorth or its affiliates. Registered Representatives of a Broker-Dealer are subject to their Firm’s policies.

An investor should consider the fund’s investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important information about the RidgeWorth Funds can be found in the fund’s prospectus. To obtain a prospectus, please call 888-784-3863 or visit www.ridgeworthfunds.com. Please read the prospectus carefully before investing. Mutual fund investing involves risk, including possible loss of principal.

®2009 RidgeWorth Funds. RidgeWorth Funds are distributed by RidgeWorth Distributors LLC. RidgeWorth Investments is the trade name for RidgeWorth Capital Management, Inc., the adviser to the RidgeWorth Funds, and is not affiliated with the distributor.

Collective Strength Individual Insight is a federally registered service mark of RidgeWorth Investments.

3Questions Advisors are Asking

• Is it worth it?

• What are the risks?

• Which sites should I use?

• Doesn’t it take a ton of time?

• Who should be in my network?

• Am I going get a lot of spam if I join?

• How do I handle unwanted invitations?

• What does it cost …and can I make money?

• Aren’t these sites mainly for people looking for a job?

• Won’t competitors be able to see who my clients are?

4Audience Poll

• Which social networking sites do you use for business?

• What do you feel the impact of social networking has been/will be on your business?

5Topics for Today

• Why social networking matters

• Your best option

• Success stories

• Live examples

• Dos and don’ts

• Moving forward

Listen to the replay at www.ridgeworth.com/social-networking or request an email recap at http://www.winningclients.com/ridgeworth09webinar.php

6Topics for Today



• Success stories

• Live examples


• Moving forward

Listen to the replay at www.ridgeworth.com/social-networking or request an email recap at http://www.winningclients.com/ridgeworth09webinar.php

7Why Social Networking Matters

Fad

http://bit.ly/6WED7u

Socialnomics’ YouTube video has over 1 million views.

Since July 30.

…or fundamental shift?


6 in 10 of your clients and plan participants use social media sites…

Social Media Sites

http://technorati.com/

http://podcast.com/

http://www.youtube.com/

http://www.linkedin.com/

http://www.facebook.com/

http://twitter.com/

http://www.webex.com/

http://www.bloglines.com/

http://delicious.com/

http://www.diigo.com/

http://www.ning.com/

http://www.gotomeeting.com/

http://www.plaxo.com/

http://en.wikipedia.org/


Find. Be found.

14

elizabeth wilson ridgeworth

Why Social Networking Matters

How hard is it for people to find the “you” that you want them to see?

17

You control the content

Why Social Networking Matters


Find. Be found.

19The Pipeline Paradox

Referrals are the main source of new business for advisors yet…

Most advisors lack a comfortable, consistent process for networking or initiating referrals and introductions

The majority also miss or overlook key events that trigger qualified leads

Many are handing significant revenue to competitors who are finding and stealing away those prospects undetected

20Audience Poll

How frequently are you using social networking sites to surface referral & other business development opportunities right now?

21What if…

Activating even 2-3 additional referral sources could propel you to another level

…your top advocates suddenly opened their Rolodexes to you?

Browse contacts at your leisure – as often as you want

Uncover:

Where a person works

Their job title

Previous roles

Groups they are involved in

Personal interests

Be alerted when any connection:

Expands their network

Updates their profile, including new jobs, projects, awards, contact info, etc.

22Topics for Today



• Success stories

• Live examples


• Moving forward

23Your Best Option: A Solution Hiding in Plain Sight

That “magic rolodex” exists today… at

Leading business networking site

Over 50 million members

A new member joins every second

Connect with colleagues, clients and centers of influence

See who you & your key prospects know in common

Your LinkedIn ProfileYour LinkedIn Profile

ClientClient

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ClientClient

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1st degree2nd degree3rd degree(i.e. direct)(i.e. indirect)(i.e. extended)

24Your Best Option: A Solution Hiding in Plain Sight

LinkedIn can be used to communicate and research

PeoplePeople Service ProvidersService

Providers

GroupsGroups Q & AQ & ACompaniesCompanies

Participate in and form groups

Ask or answer a question

Your LinkedIn ProfileYour LinkedIn Profile

…and to monitor and initiate a variety of conversations:

Request or make an introduction

Gather prospecting intelligence

Company Profiles provide background on 1mm+ organizations

Location, # of employees, those with LinkedIn accounts, demographics

Who is most closely connected to you, recent promotions, new hires, and past employees

Profiles can provide priceless prospecting insight

25Topics for Today



• Success stories

• Live examples


• Moving forward

26Real-Life Success Stories

• A mutual acquaintance closes the deal

• Client appreciation revisited

• The $35 million match made online

• Finding a flood of qualified candidates

• A lesson in networking with influential attorneys

• Giving back: conducting a layoff fair

• Discovering a new way to add value

Examples of how advisors are winning business every day…

27Topics for Today



• Success stories

• Live examples


• Moving forward

28Audience Poll

Who is your business’s primary target audience?

29Find High-Probability Prospects Quickly

People

• Keywords

• Location

• Name

• Title

…and more

Companies

• Name

• Keywords

• Location

• Headquarters

LInkedIn’s Advanced Search lets you build custom lists rapidly… and for free

Let’s take a test drive…

• Company

• School

• Industry

• Group

• Industry

• Scope

• Size

30Extending Your Reach: Participating in Groups

• 450,000+ groups and growing

• Access to users in—and beyond—your network

• Discussion boards

• Member search

• Article postings

• Email digests

• Decisions, decisions

• Take your top connections’ lead

• Search by keyword

• Join up to 50

Discover pockets of people who need what you offer …or offer what you need

31Extending Your Reach: Participating in Groups

• Linked:HR (208,000)

• Finance & Accounting Professionals (41,000)

• CXO (CEO, CFO, COO, etc.) Community (27,000)

• Society for Human Resource Management (22,000)

• Pension and Employee Benefits Specialists (4,000)

• Corporate Treasury & Cash Management (3,000)

• 401(k) (3,000)

…and hundreds more

Groups worth checking out

Use keyword search to pinpoint relevant communities

32Topics for Today



• Success stories

• Live examples


• Moving forward

33Dos and Don’ts

1.Leverage your existing resources

• Biographic background

• Current relationships

• Marketing material

2.Understand the rules

• FINRA guidelines

• Your broker dealer’s policy

• Online etiquette

Two essential themes…

34Understand the Rules: FINRA Guidelines

http://www.finra.org/Industry/Issues/Advertising/p006118http://bit.ly/ycoQH


• Websites & blogs = advertising

• Email, IM (inc. tweets & status updates) to >25 prospects = sales literature

• Email, etc. to <25 prospects within 30 days = correspondence

• Password-protected websites = sales literature

• Chat room (i.e. group) discussions = appearances

• Separate rules outline compliance requirements for each category

• Communication, approval & recordkeeping, supervision, books & records

http://bit.ly/ycoQH

39Understand the Rules: Your Broker Dealer’s Policy

43Audience Poll

Does your firm have a written policy governing the use of social networking and social media sites?

44Topics for Today



• Success stories

• Live examples


• Moving forward

45Moving Forward: Where to Go from Here

1. Lay the foundation

• Complete your profile

• Input contacts

• Invite people to connect

• Join groups

2. Gather intelligence

• Network updates

• Company pages

• Group activity

• Connect the dots

A 3-pronged plan for blending social media into your networking…

3. Cultivate relationships

• Reach out regularly

• Sustain conversation

• Build a golden rolodex

• Focus on giving vs. getting

Take action today!

46Questions?

What else would you like to know, hear about, or share?

47Coming Attractions

• Simple strategies for systemizing your practice

• Mastering the art of 21st century networking

• Conquering information overload in a digital age

• Finding money in motion in your morning paper

• Staying productive on the go

• Building a high-performance team

…and other practical ways of taking your business to the next level

Plan to join us for our 2010 webinars on

Thanks for joining us!

Don’t forget to sign up for a complete recap at:

www.ridgeworth.com/social-networking

http://www.winningclients.com/ridgeworth09webinar.php

ridgeworth investments presents can social networking sites really be used for client acquisition?...

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social networking sites

impact of social networking

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social media sites

prospects undetected

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