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The Miller Group Social Media Proposal. Goals for The Miller Group. Would like to attract new clients Wishes to better serve its client group UWSMB Team will suggest a marketing effort That makes the Millers more visible in the community That employs Social Media to engage that community - PowerPoint PPT Presentation
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The Miller Group Social Media Proposal
Goals for The Miller Group
Would like to attract new clientsWishes to better serve its client group
UWSMB Team will suggest a marketing effortThat makes the Millers more visible in the
communityThat employs Social Media to engage that
communityDistinguishing them as civic and financial leadersResulting in increased business
Current Market Challenges & Opportunities
• Heavy Regulations – FINRA & SEC
• Recent stock market and economy has gone through large correction
• Heavier competition and oversight within financial industry
• Social media communication has evolved into a communication tool
“Technology will not
replace people.
People who use
technology will replace
people who don’t”
Current Market OpportunitiesFINRA & SEC acknowledged that social media is a tool
within the financial industry.
Although Compliance is lagging due to monitoring requirement and being risk adverse – there are 5 basic principles to follow:
1) Think ‘Advertising’ 2) No Testimonials3) Monitor Frequently4) Keep Records5) Develop a policy
Recent AnnouncementsMorgan Stanley has become the first major wealth
manager to allow its brokers use of social media tools!
Twitter – research, content and status updates
LinkedIn – interactive features
“The emergence of social media has changed the way in which people communicate with each other and companies interact with clients,”
Morgan Stanley Smith Barney U.S. wealth management boss Andy Saperstein said.
Goals, Objectives, Strategies
Goal: To better communicate with clientsMore frequent contact, more relevant informationResulting in deeper engagement
Strategies: improved web site and social media tools
Goal: Increased businessAcquire 15 new clients within 2 years
Strategies: Increased visibility of the Miller Group online
Increased visibility of Jeff and Curry in the community
Marketing
Target clients – individuals of high net worth
Clients enjoy the convenience of a trusted advisor to manage their money
Brand themselves - building relationships and trust
Increase community visibility through involvement enhanced by social media
Content and Engagement Plan
Who you are offline can be who you are online
Align yourself with industry and community leaders
Listen to the conversation first
Share local news, events, interests
Make sure it says “success” without saying “success”
Include approved material as made available
Social Media Platforms and Tools
Phase 1 – six months, planning and implementationThe Miller Group Web siteEnhancements to emailFacebook and LinkedIn pages – enhanced for Jeff, new for
Curry and GroupTwitter accounts established – Jeff’s and within MS
Phase 2 – longer termMetrics and monitoring of all platforms, leading to:Opportunities as the regulatory environment eases,Increasingly sophisticated use, Facebook private group
Measurement and Monitoring
FacebookLikes, Impressions, Feedback
LinkedInSearch Results
TwitterFollowers, Following, Re-Tweets, Klout Score
BloggingNumber of posts, conversion rate, subscribers
& inbound links
Identification of Organizational Support, Policy and Training
New organizational support from Morgan Stanley Social Media initiative
Internal support – budget and time commitment
Policy: currently MS communications rulesPolicy specific to Social Media forthcoming shortly
Training needs best met with a contracted social media service provider to coordinate all platforms and Web site, set up metrics, monitoring and SEO
http://www.facebook.com/pages/The-Miller-Group/206145746088633?sk=app_201143516562748
References Investment news b-d rankings. (2011, April 30). Retrieved from
http://www.investmentnews.com/section/broker-dealer-data-rankings?U-custom
Madden, M. (2010, August 27). Older adults and social media. Retrieved from http://www.pewinternet.org/Press-Releases/2010/Older-Adults-and-Social-Media.aspx
Magnacca, M. (2003). The product is you: position yourself for success as an advisor. Bloomington, IN: 1st Books.
Securities lawyer's desk book. Retrieved June 6, 2011, from http://taft.law.uc.edu/CCL/
NASD Notice to Members 99-03, SEC Approves Rule Amendments Requiring Review of Incoming, Written Correspondence; pg. 7 – 8.
FINRA. Communications with the Public. Pgs. 1 – 6. http://finra.complinet.com/en/display/display_main
FINRA. Research Analysts and Research Reports. Pgs 1 – 11http://finra.complinet.com/en/display/display
FINRA. Guidelines to Ensure That Communications With The Public Are Not Misleading. Pgs. 1 – 2.
http://finra.complinet.com/en/display/display
FINRA. Guide to the Internet for Registered Representatives. Pgs. 1 – 6
http://finra.complinet.com/en/display/display
FINRA. Regulatory Notice – Social Media Web Sites; Guidance on Blogs and Social Networking Web Sites. January 2010.
References - Continued Triplestop . Social Networking for RIAs. www.triplestopllc.com Investment Advisors Act of 1040. Standards for Adviser Advertising. Securities Training Corporation s65-14-24 Investment Advisors Act of 1040. Compliance Policies and Procedures – Role of the SEC. Securities Training Corporation s65-14-24 Socia Networking for Investment Advisors by @joepolidoro on @arkovibackups blog: Arkovi
Social Media Archiving. http://blog.arkovi.com/2010/07/21/social-networking-for-rias/ The Uniform Securities Act. Misrepresentations and Omissions. Securities Training Corporation s65-14-23 Jacques Bughin and Michael Chui. KcKinsey Quarterly. December 2010. The rise of the
networked interprise: Web 2.0 finds it’s payday. Harvard Business Review. The New Conversation: Taking Social Media from Talk to Action.
2010. A Report by Harvard Business Review Analytic Services. Marketo. Socail Media Tactical Plan. http://www.marketo.com/b2b-marketing-resources/best-practices/video-social-media/social-
media-tactical-plan.php
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