The Socially Savvy Advisor + Website: Compliant Social Media for the Financial Industry

Chapter 6What Are the Biggest Social Media Myths?

It's happening all around you—in every demographic in every nation, people are using social media. And despite what you may assume, they're not just using it to stay in touch with friends, play games, and post silly videos. While these pastimes do represent one aspect of social media, you'd be wise to remember that the overwhelming majority of Americans have also come to count on social media for many of the more important things in life—from making strategic business contacts and following the companies and organizations they're interested in, to researching products and services and adding their two cents to national or even global conversations.

So it's hard to figure out why, when millions of people are engaged in countless social media exchanges every day that are shaping both the business and consumer marketplaces, any reasonable businessperson would ignore it. These days, you almost have to go out of your way not to engage in social media. The advisors who want to thrive now and well into the future already know this and are immune to the many myths. But it's still surprising that so many of their colleagues keep missing the boat, citing any number of excuses why social media, investors, and advisors don't mix.

Here we'll not only debunk 10 of the most common social media myths, but we'll also unravel the secrets to turning ...