Do you use social media? More importantly, are you using it effectively?
Last week, one of our reels generated more than 20,000 views. Our podcast regularly gets 50,000+ downloads per episode, and nearly 10% of our new business comes directly from social media.
For us, that represents more than $300,000 a year in revenue with almost no direct marketing expense.
Social media works.
But there is a downside: you will get negative comments. The question is how you respond.
If you allow comments, you have to be prepared to take the good with the bad. Our approach is simple:
Respond to legitimate comments.
If someone contributes to the conversation, acknowledge them. Sometimes a simple "Thank you for your response" is enough.
Remove abusive comments.
We report comments containing profanity, name-calling, or derogatory language. The platforms have generally been very responsive.
Don't let false claims go unanswered.
Every once in a while, we'll get a very specific—and completely unsubstantiated—claim:
"My mother went to these guys and they put 100% of her money into a fixed indexed annuity."
When someone makes a serious accusation like that, we don't simply ignore it.
First, it's worth pointing out that anonymous accusations are impossible to verify. If someone genuinely believes their mother was placed into an inappropriate investment or insurance product, they should pursue the matter through the appropriate regulatory channels.
A response might be:
"It is difficult to respond to an anonymous allegation, but if this actually happened to your mother, you should contact your state's insurance regulator and have the situation investigated. If a financial professional placed 100% of a client's assets into a single product, there could be significant suitability and fiduciary concerns that should be reviewed."
We also report comments that violate the platform's policies. If the accusation is accompanied by harassment, profanity, personal attacks, or other prohibited content, the platform may remove it.
The key is to respond with facts, not emotion.
Ignore irrelevant comments.
Don't give someone attention by responding to a comment that has nothing to do with the conversation.
Respond professionally to personal attacks.
When someone says, "You're just a salesman" or "You just want a commission," bring the conversation back to transparency: Anyone considering hiring a financial professional should understand the services being provided and how that professional is compensated.
Don't get dragged into arguments.
This is probably the most important rule. You aren't going to win an argument with someone who is committed to arguing. Be professional, state the facts, and move on.
We also frequently remind people that our content is educational and hypothetical. Before making financial decisions, investors should understand the risks and benefits of any recommendation and consult their own financial, tax, or legal professionals when appropriate.
At the end of the day, social media is an incredibly powerful marketing tool.
It works.
You just need to know how to handle the attention—both positive and negative—when it comes your way.
