Brokerages are feeling the push to get involved with social media, but doing it badly can often be riskier than not doing it at all. MPA looks at how one business tackled the media bull by the horns.
Brokerages are feeling the push to get involved with social media, but doing it badly can often be riskier than not doing it at all. MPA looks at how one brokerage tackled the media bull by the horns.
Angus Algie, managing director of Addisons Advisory Group, said the key to his company’s success in social media was taking the time to closely monitor content and integrating it across a number of platforms.
“I think as part of your business strategy you have to be harvesting that information all the time and monitoring new content, interacting regularly. It’s no use setting something up on Monday and not looking at it until the following Monday.”
Addisons currently employs a part-time marketing co-ordinator to integrate content across Facebook, Twitter, the company’s website and blog.
Addisons also subscribes to third-party media marketing tools which post relevant newsletters and information across social media platforms.
This content is then interspersed with industry news and advice, client case studies and light-hearted content designed to engage with potential clients.
“We try and stay true to our brand the best we can, stay relatively in our space and hopefully people who follow us or like our page are getting content that’s useful to them.
“In some instances it’s a little bit dry in other instances we put up a few abstract things just to keep their interest and break it up a little bit.”
While lead generation through social media has been high, said Algie, businesses need to take a realistic approach.
“We’re not going into it thinking ‘Wow we’re going to generate all these leads’. It’s not going to pay for itself short-term but it’s more of a long-term strategic play.”
Often potential clients will follow the business on social media for a number of months before getting in contact, and until then it’s a guessing game as to what content is most useful to them.
“What we’re trying to do is build a community that is engaged with us. You’re trying to build trust with what potentially is a lot of strangers, people that are just finding out about your business.”
The pure scope of your potential audience through social media, said Algie, is what makes close monitoring of content so important.
“The biggest risk you run is bad press and angry or aggrieved people. You’re in in public domain and anyone can access your site and can put their comments or opinions on there, rightly or wrongly.
“You need to be monitoring it on a regular basis to make sure that whatever is out there in the public domain isn’t going to damage your brand.”
Despite the risks involved, a controlled approach to social media has meant the company’s investment has more than paid off, said Algie.
“When we first started we were a bit doubtful but we thought we needed a presence so we got one. I think the further you go without having one the harder it’s going to be to get that presence up and running”
For more essential thought leadership from the big names in the industry, look out for MPA’s forthcoming Business Strategy special report for your complete guide to business success.
