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6 Ways to Increase Social Business Adoption

shutterstock_272711567According to a recent Putnam study of 800 financial advisors, nearly 80% of respondents gained new clients using social media. For this reason, among many others, it’s important that financial services companies have a solid social media program in place. In fact, companies with a dedicated team and social business program have a significantly better chance at social business success–which is critical for advisors who want to keep up with today’s social, mobile customer.

Fortunately, we have spent a lot of time and energy uncovering key insights and recommendations after working with hundreds of customers to help drive social business success. As such, here are six best practices your business should be following:

1. Secure and maintain executive sponsorship and championship

Getting executive sponsors involved early and often is an important first step to increasing social business adoption. Executive sponsors lead by example, increase program visibility and help clear any roadblocks. Executive champions, i.e. those who are personally active on social media, empower employees to do the same.

2. Provide ample training and educational resources

The success of your social business program depends on your employees actually using the social business platform.  By providing ample learning opportunities and resources on how to best use the platform, you increase your chances of social business success over time.

3. Zealously advocate the program at the field level

In many companies, there’s often a disconnect between what’s happening at the corporate level versus what’s taking place in the field. To help bridge this gap, you may need to go door-to-door to field offices to create awareness of the social business program, as well as provide training on how to best use the platform.

4. Promote and enable advisor success stories

Peer-to-peer evangelism is a great way to increase adoption by sharing success stories from people who have already found value and tangible ROI. These “social media superstars” become the champions of your social business program and act as a catalyst within their teams to motivate others to apply the technology.

5. Use gamification

Salespeople are naturally competitive, so why tap into this natural tendency by allowing them to engage in some friendly competition? For example, you can use leaderboards, “badges”, and the like to motivate teams by offering a reward tied to a key metric of success.

6. Create and maintain a strong content strategy and pipeline

Help your users establish credibility by providing useful suggested content on a regular basis, while giving them the flexibility to let their personalities shine. Given that advisors are often pressed for time, maintaining a strong content pipeline can help with productivity and lead to greater program adoption.
adoption-guideFor more information on how to implement social business adoption strategies within your own organization, download the free Hearsay Social Adoption Guide.
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