This post explains the difference between employee advocacy and social selling solutions, and discusses the importance of helping advisors and agents create real human connection while increasing brand reach.
What is Employee Advocacy?
At its core, employee advocacy is the promotion of an organization by it’s staff; these days that’s most often executed through social media. A number of tools, including LinkedIn Elevate, have been developed specifically to facilitate this purpose.
To the marketing function, these tools are attractive since maximizing the reach of your social media efforts increases brand awareness. The right advocacy tool will amplify your marketing messages and increase the return of your investments in content marketing and social media. And certainly in wealth management, P&C, and life insurance firms, the advisor or agent workforce is a powerful force to get the word out about your firm’s brand, thought leadership, and offerings.
How does Social Selling Differ from Employee Advocacy?
Expanding the reach of corporate marketing is only one side of the equation. Advisors and agents today must use social media to buoy their role as trusted advisors to their prospects and clients. Sharing corporate content is an important part of that, but advisors and agents also need a way to be authentic through a personalized social presence – consistent with the firm’s brand – to make a real connection with prospects and clients.
Enter social selling solutions. Whereas the primary goal of employee advocacy tools is oriented toward one-to-many marketing at the brand level, social selling solutions help advisors and agents develop deeper one-to-one relationships. Sharing corporate posts is part of that and brand reach goals will be met; but the extension and customization done at the field level drives even stronger client connections.
The Intelligent, Human Future of Financial Services
In high-consideration categories such as wealth management and life insurance, a trusted advisor is everything. So many other interactions in our daily lives are digitized and missing the authentic, human factor. But when it comes to finances, the complexity of decisions are higher and the value of personalized, tailored advice all the more critical. The same is true with the highly emotional decisions that take place with insurance. That’s why clients are more apt to stay long-term after fostering a connection with an advisor – that connection tends to be built at a personal level through meaningful conversations.
Foster Real Human Connections Between Advisors/Agents and Clients (and Increase Brand Reach)
With a complete social selling solution like Hearsay, advisors and agents are able to authentically and intelligently grow business relationships. They have the opportunity to establish themselves personally as trusted advisors and stay top of mind, in addition to amplifying the corporate brand promise. Sharing corporate content to LinkedIn should be just one piece of the social selling strategy, alongside others that contribute to attracting and retaining clients throughout a full client lifecycle.
An effective social selling solution delivers business outcomes such as:
- Driving interest and validation by helping advisors and agents project a professional digital image across their social profiles (LinkedIn, Facebook, Twitter, and Instagram)
- Increasing engagement by offering the field organization the flexibility to automate and/or personalize their social presence to support varying levels of sophistication
- Reaching more customers by activating other complementary, modern channels like advisor and agent websites
- Optimizing sales engagement to grow share of wallet by providing integrated email and text messaging to complement digital lead generation efforts with authentic, human outreach
- Unlocking more value from CRM and other sales and marketing systems, analytics, and compliance investments by populating them with field-level data
- Guiding all reps to act like the best rep with AI-based triggering of timely, relevant outreach to improve prospect conversion and deepen client loyalty
Learn how you can go beyond employee advocacy to drive real ROI through advisors and agents, by downloading The Five Pillars of Social ROI.