By: Jessica Darnbrough
Social media such as Facebook, Twitter and LinkedIn have become part of the Australian lexicon over the last few years, however it is not just Gen Ys that are making the most of this new communication medium.
According to The Adviser’s most recent weekly straw poll, one out of every four brokers is using some form of social media to promote their business.
Of the 588 respondents, 25.3 per cent said they used social media to market their business. However, the great majority of brokers said they did not use social media in their marketing campaign.
Peach Home Loans general manager Andrew Hunter told The Adviser that many brokers are not engaging social media because they don’t fully understand the benefits it can have to a company.
Peach Home loans uses Twitter, LinkedIn and Facebook as marketing tools to help drive brand awareness.
“Although the success we have had through the various social media is not measureable, it is another way for us to improve our search engine optimisation and presence in the market,” Mr Hunter said.
While an avid supporter of social media and the benefits it has on his business, Mr Hunter said keeping on top of the different communication mediums requires “dedication, time and a whole lot of effort”.
“If you want to drive direct sales through your marketing, I am not sure social media is right for you. However, if you want to increase your profile in certain demographics then it is definitely worth looking at,” Mr Hunter said.
Loan Market Group's chief operating officer agrees that social media such as Facebook should be used as a social mechanism for lead generation.
“Just as you might receive a referral lead at a barbeque, social media can help you achieve the same result on a much larger scale,” Mr Ruston told The Adviser.
According to Mr Rushton, the biggest mistake brokers make when using social media is to “expect too much early on”.
“Keep it simple to start off with. Use the media to engage certain demographics and explain to them what you and your company offers,” he said.
Keep an eye out for The Adviser's first report on how to maximise your business potential through social media, coming up in the April edition of the magazine.
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