“They’re digging in the wrong spot!”

You remember the scene from Raiders of the Lost Ark, when the poor monkey is poisoned by “bad dates” meant for Indy.

At that moment, Indiana Jones is celebrating because the Germans, despite pouring oodles of brain, muscle, and money into finding the Ark of the Covenant, miscalculated the location of the ark and were digging in the wrong spot.

As the movie details, their misfortune becomes his gain.

For many financial advisors, social media has been a treasure trove of new business.

Look at this statistic from American Century’s recent study, which focused on financial professionals’ adoption of social media:

“46% of advisors acquired business this year via social media, up from 43% last year.”

Nearly half of financial advisors are utilizing prospects’ affinity and immersion into the world of social media to create new leads and land new clients.

Digging deeper, consider this stat from an article on ThinkAdvisor:

“LinkedIn tops Facebook as advisors’ preferred platform to use for business -with 52% of advisors saying they’ve increased their visibility on LinkedIn.”

However, as you (perhaps painfully) know, visibility does not equate to new business.

The TRUTH: LinkedIn is NOT the answer for most advisors.

Here’s why: LinkedIn is a great home for your resume, professional achievements, and business contacts. However, most people don’t LIVE there.

What’s missing?

Engagement.

Dollars to donuts you have LinkedIn connections that you don’t really know much about or engage with on any meaningful level. Facebook, on the other hand, is much more personal.

And if your goal is to establish TRUST with potential clients, which sounds like a better fit?

The answer is obvious.

So let those other financial advisors continue following the LinkedIn trend. But between you and me, THEY’RE DIGGING IN THE WRONG SPOT!

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