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Ten tenets for social business success

shutterstock_111111614In episode 21 of Hearsay Social On the Air, we review the ten tenets of social business that drive engagement and success and explore ten best practices for financial professionals to improve their digital connections to get measurable results. Join the conversation on Twitter with @VictorGaxiola and @ronnykerr using hashtag #HSonAir.
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Personal touches on social media key to building relationships

thinkadvisor-logoAs a busy financial professional, you don’t have a ton of extra time to manage your social media presence. A standard, solid strategy for advisors today is to find time once a week to post and schedule links to industry or company articles. But, as you’ve likely discovered, this doesn’t result in very many likes, comments, or other forms of engagement from your audience.
So how do you boost your social media presence and make yourself stand out from the pack?
While it’s crucial to share professional content — that’s how you establish credibility — there’s something equally important: showing off your own personal voice. Building relationships within the financial industry has always been about trust, and today you do that by being genuine and trustworthy not only in your business activities, but also on social networks. Customizing your content with your own voice is key to social media success: in fact, content with personalized messages performs six times better than generic links without your customization.
The five tips in this ThinkAdvisor article outline some easy steps you can take to become a more engaging social poster through your personality.
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Improving efficiency and protection with new social media compliance enhancements

As head of legal and compliance at Hearsay Social, it is important to me that we continually provide cutting-edge improvements to the Hearsay Social platform to make the jobs of our compliance and supervision users easier.
Today we announced new enhancements to our compliance capabilities, and I want to share some of the key focus areas for these enhancements.

Streamlining the review and publishing process for static content

Request-Changes-to-Profile-Teal_NEW (1)FINRA sees social media profiles as “static” content and categorizes this content as “advertisements,” meaning profiles require pre-approval by a firm’s principal before they are published. Because we know this review process is a heavily used area of the Hearsay Social platform, we’ve created a new streamlined social profile review, approval, and publishing solution to make it even easier and more efficient for financial professionals to publish compliant profiles.
Many of our customers in highly regulated industries are already using this new profile solution, and I’m happy to report we’ve received extremely positive feedback. With one of the first implementations of the new LinkedIn API, Hearsay Social can now automatically publish approved profile content directly to the network. For supervision professionals, this new functionality ensures public profiles match what they have approved, minimizing risk for the organization and easing compliance for profiles. Plus, it saves advisors and agents the time and headache of having to update their profile manually after new content has been approved.

More pre-approval functionality for dynamic content

We heard from some of our customers that they wanted a better way to pre-approve dynamic social activity from advisors and agents. With recent enhancements, Hearsay Social now lets supervisors pre-approve social engagements such as Likes or comments before they go live on the social networks.

Archive support for photos

An effective social business program is not just text-based. In order to help our customers take advantage of all types of social content, we now provide the ability for firms to archive photos posted by agents and advisors through the platform. This ensures they’re capturing this type of activity in their records, even if it is deleted or removed from the social network at a later date.

Increasing context for improved efficiency

In addition to delivering a new static profile solution, we have added more note and attachment fields so supervision users can share comments or context with each other or advisors during the supervision process. These new fields are also pushed to the archive systems so that complete context is available upon record review. In addition, Hearsay Social now provides enhanced searching and sorting to supervision users so that they can be even more efficient when reviewing or auditing social business activities of agents and advisors.
We hope these enhancements will make our customers’ jobs easier and their social business programs more effective and compliant. Please feel free to reach out to me directly if you’d like more information about the new solutions above or other functionality of the Hearsay Social platform.
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On Facebook, high-quality, engaging content is more important than ever

FacebookIn order to ensure people are always seeing highly relevant content, Facebook® recently announced that fewer overly promotional posts will appear in people’s News Feeds beginning in 2015.
As people connect with more friends and Like more business Pages, News Feed is becoming increasingly crowded. Overly promotional posts in News Feed add little value compared to other more relevant posts, so Facebook, after conducting a widespread survey, listened to people’s feedback and addressed this in their recent announcement.
As we’ve highlighted with other evolutions of the News Feed, high-quality, highly engaging organic content will continue to be featured. So for financial services professionals, if your posts are getting a lot of Likes and comments, Facebook will continue to feature them in News Feed; good content that informs, entertains and makes people think will win.
What does Facebook define as “overly promotional?” This will include posts that strictly sell and make no attempt to engage, such as:

  1. Posts that solely push people to buy a product or install an app
  2. Posts that push people to enter promotions and sweepstakes with no real context
  3. Posts that reuse the exact same content from ads

High-quality organic posts will continue to appear in News Feed. In addition, with Hearsay Social’s new promotional posts feature, financial services professionals can also use ad dollars that were previously wasted on low yield ads like billboards and instead invest them in higher yield Promotional Posts to get even greater reach.
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