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What’s New on Social Media: July – September 2020

With social media platforms changing rapidly, it’s difficult to keep up with the latest features and policy changes. That’s why we’ve made it easy for you to stay up to date by creating a quarterly roundup of what’s new on major networking platforms — and how to use these updates to your advantage!

In the third quarter of 2020, social media platforms introduced more ways to stay connected while social distancing. In addition, Twitter and Facebook launched new platforms to encourage people to make informed decisions during the 2020 U.S. presidential election, while LinkedIn started preparing for a major overhaul and Instagram introduced a feature to compete with TikTok.

Read on for more noteworthy social media network changes from July to September 2020!

Facebook

Maximize Your Cross-Platform Efficiency With Facebook Business Suite

It’s now easier than ever to manage both your Facebook and Instagram Pages thanks to Facebook’s new Facebook Business Suite. This Suite serves as “a single place across mobile and desktop for businesses to access the tools they need to thrive across Facebook and Instagram.”

In the Business Suite, you can post (and draft and schedule posts), respond to messages, view Page insights, and manage ads for Facebook and Instagram in one place. Once you link your Facebook and Instagram business accounts to the Business Suite, you will be able to view updates like critical alerts, messages, comments, and other activity on Facebook and Instagram in one easy-to-access location.

To access Business Suite, log into the Facebook account that’s linked to your business Page. If eligible, you will automatically be redirected to Business Suite when you visit business.facebook.com on desktop.

Advisor Action Tip:

If you’re running a Facebook and Instagram Page, streamline your social media management by launching the Facebook Business Suite. That way, you can spend less time logging in to each separate app to manage your profiles and can, instead, see everything you need to know in one place. Learn how to get started with Facebook Business Suite here.

Live Broadcast And Hold Paid Events

Like many others, you may have moved your events into the virtual world during this time of self-isolation. To make it easier to hold events and to connect with your audience on its platform, Facebook now allows you to live broadcast your calls with up to 50 participants via Facebook Live. This live broadcasting is ideal for virtual events like speaker panels and networking events.

In addition, businesses, creators, educators, and media publishers can now earn money from their Facebook Events. Now, Page owners can create events, set prices, and collect payments all in Facebook Live. This is meant to help businesses and creators connect with their customers and audiences during this time of social distancing. Because of COVID-19, Facebook is waiving fees for paid online events for at least the next year, meaning that business owners can keep 100% of the revenue they earn from their events. To use the paid events feature, Pages must meet Facebook’s partner monetization policies

Advisor Action Tip:

If you’re hosting live webinars or events as part of your practice, consider Facebook as a new alternative to Zoom. If you want to host an event for 50 or fewer people, you could accomplish this on Facebook for free — and even earn some money while you’re at it if you qualify for hosting paid events. Learn ways to go live on Facebook, here.

LinkedIn

Never Mispronounce a Connection’s Name Again 

Have you ever prepared to meet with someone new, but didn’t know how to address them without risking mispronouncing their name? Well, now LinkedIn has a fix for that! 

In a brand-new feature, LinkedIn has introduced a tool that allows users to record short audio clips of themselves pronouncing their names for their profiles. Once the audio clip is added to a profile, users can click a speaker icon next to their name to hear how it’s pronounced.

Advisor Action Tip:

While this tool can be extremely useful when meeting new prospects and clients, don’t wait for them to do this first! Help those who will meet you, too, by recording your own clip for your profile. That way, when prospective clients come in to meet you, they can do it with confidence! For step-by-step instructions for adding your voice clip to your profile, click here.

Strengthen Your Community on Your Company Page

This quarter, LinkedIn introduced tools to help businesses strengthen their communities through their LinkedIn Pages. Pages now feature a new Community Tab, through which Admins can “connect [with] their employees, highlight upcoming events, and gain invaluable insight about their brand’s followers.” In this tab, you can also celebrate your team by highlighting key accomplishments and employee milestones like promotions, anniversaries, and new hires.

In addition, Pages now include an ‘Events’ tab where all of your “past, present, and upcoming events on LinkedIn” will live. If you’re taking advantage of LinkedIn’s live streaming capabilities, this is where you will find all of your past events!

Advisor Action Tip:

If you have a LinkedIn company Page, make sure your team members are listing themselves as employees so they have access to the Community Tab, where they can connect with their colleagues and celebrate the work you do together.

Lend a Hand to Your Network

This year, many people have encountered challenging times both professionally and personally. That’s why now is a great time to come together as a community and lend one another a helping hand. 

LinkedIn has now made it easier than ever to do just this with their “Helping Hand” feature. This feature allows users to publicize that they’re available to help out, all the while specifying the type of help they can provide — like general help, career coaching, referrals, or resume reviews.

Advisor Action Tip:

Building your social presence is all about engaging with your network in a meaningful way. This is a great time and opportunity to offer the resources and skills you have to help others who might be having a hard time. To get started, click the “Offer Help” button at the bottom of the post composer box to let your network know how you’re available to help! Here’s an example of someone who has offered to help:

 

Twitter

Conversation Settings

Twitter is now giving users more control over who engages with their tweets. After testing a conversation settings feature earlier this year, this feature is now available to everyone

With conversation settings, you can control who can reply to your tweets by selecting one of three options: everyone, only people you follow, or only people you mention. However, while this restricts users from replying directly to your tweet, they will still be able to retweet, quote retweet, and like your tweets.

Advisor Action Tip:

If your compliance restricts you from having comments on your tweets, this feature offers a great way to “turn off” replies or moderate who can respond. Even if you don’t need to restrict comments for compliance, knowing that this tool is available to you is always handy for controlling conversation on your tweets, if needed.

Instagram

Instagram Reels

This quarter, Instagram launched a new feature to take on the increasingly popular app, TikTok. The feature, called Instagram Reels, is “a new way to create and discover short, entertaining videos on Instagram,” which “gives people new ways to express themselves, discover more of what they love on Instagram and help anyone with the ambition of becoming a creator take center stage.”

With Reels, you can create videos to share on the platform by recording and editing 15-second “multi-clip” videos — which you can then enhance with audio, effects, and “new creative tools.” You can publish your Reels in your Feed, Story, or through Direct Messages, and can also share to Instagram’s Explore Page, should you choose.

Pinned Comments

Instagram is now rolling out a new feature that allows you to pin comments to the top of your posts’ comment feeds. With this feature, you can pin up to three comments to the top of a comment thread to “better control the tone of the comment thread through highlighting positivity and moderating more negative and abusive responses that show up below the pinned comment.” To pin a comment, simply swipe left on it to reveal comment options, which include reporting, deleting, replying, and pinning.

Advisor Action Tip:

Pinned comments could be a great addition to your Instagram post — from starting the conversation by pinning helpful comments or answers to a question you asked in your caption, or by setting the tone for the post by pinning positive feedback. Another way you could use pinned comments is to pin the hashtags for the posts to the top of the comment feed to create a cleaner-looking caption.

There is more news, click here for the full report

 

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What’s New on LinkedIn: August – October 2019

LinkedIn is constantly changing. It can be hard to keep up with the latest features and policy changes, so we’ve made it easy for you to stay up to date by creating a quarterly roundup of what’s new on this professional networking platform.

Over the past few months, LinkedIn has worked to make expanding your network offline easier than ever and has also improved its platform for job hunters and recruiters alike.

Read on for more noteworthy LinkedIn changes that happened from August to October 2019.

 

LinkedIn Events

According to LinkedIn’s research, people are twice as likely to accept connection requests from people they’ve met face-to-face. So, to help you meet other users in-person and take your professional networking to the next level, LinkedIn has introduced a new feature to its site: LinkedIn Events.

With LinkedIn Events, you can now create and join professional events. You can also:

    • Invite your connections
    • Manage your event
    • Converse with other attendees
    • Keep in touch after the event
    • Create private events
    • Use filters to find the right attendees
    • Track attendees and invites
    • Post updates
    • And more!

To create your own event, all you have to do is visit the Community panel on the left side of your news feed and click the +Create button. You can then create a description of your event, assign a date, time, and venue, and invite connections using filters like location, company, industry, and school. 

To keep your attendees updated with the latest news around your event, LinkedIn has also added an algorithm that “automatically provides timely and relevant notifications to attendees to make sure they don’t miss any important updates about your event.” 

If you’re not up to hosting your own professional event, no need to worry! You can find other users’ professional events to attend under your My Network tab.

 

Skills Showcase

LinkedIn has always been a platform where users can showcase their professional experience and skills. Now, users can back up just how great they are and prove their expertise with LinkedIn’s new Skills Showcase

This past quarter, LinkedIn launched LinkedIn Skill Assessment, a new way for users to validate their skills. Users can take assessments for various skills that have been created in partnership with LinkedIn Learning and subject matter experts. To pass, you must be in the 70th percentile or above, and only you will be able to see your results. If you don’t pass, you can keep your score private and try again at a later time. However, if you do pass, you will be awarded with a badge, which you can choose to display on your profile in LinkedIn Recruiter and LinkedIn Jobs. If you’ve passed an assessment for an in-demand skill, LinkedIn will additionally send you job recommendations as soon as they’re posted.

According to LinkedIn, making use of Skills Showcase can even help job seekers find a new position, as the platform has stated that “early results show candidates who complete LinkedIn Skill Assessments are significantly more likely (~30%) to get hired.” 

You can access assessments in the Skill section of your profile. Taking skill assessments will also unlock relevant LinkedIn Learning courses for free for a limited time to help you improve your skills. Assessments are currently available for skills like Adobe Photoshop, Java, Microsoft Excel, C++, and more.

 

Service Provider & Freelancer Search

Over the past few months, LinkedIn has made it easier for freelancers and those in need of a service to find one another on its platform. If you’re looking to hire a freelancer or service provider, you can now filter searches in the LinkedIn search bar by service providers, and LinkedIn will then provide you with a list of providers who have indicated that they are “open for business” and who fit your search criteria. 

You can also get recommendations from your network and the LinkedIn community for service professionals and freelancers by using the “find an expert” button in the share box when making a post. After sharing your post, your audience will then be able to comment directly on the post by tagging people, or they can share their recommendations with you through a private message.

 

LinkedIn Pages

This quarter, LinkedIn introduced new features to Pages to help companies make the most of their employees on the platform. Some of the new Pages features include:

  • Employee Notifications
    • Page Admins can now alert employees about important posts on their company Page. This feature will encourage and make it easier for employees to engage with their company on the platform and to share company content with their network. However, to prevent overuse of the feature, LinkedIn has limited notifications to once every seven days
  • Kudos and Team Moments
    • Page Admins now have a new custom content format called Kudos and Team Moments. This feature was built specifically “to welcome new team members, spotlight outstanding work, and recognize the people behind an organization’s pivotal moments.” Companies who use Kudos and Team moments may be perceived as more human and personable to prospective customers and employees. 
  • Completion Meter
    • To make it easier for admins to maximize the effectiveness of their Page, there is now a new personalized completion meter on Pages. This meter identifies incomplete or missing fields and alerts admins to new features to encourage them to make their Pages as complete as possible.

 

LinkedIn Advertising

As usual, LinkedIn has continued to upgrade its targeting tools for advertisers. Over the past few months, LinkedIn introduced new features that are meant to “help marketers who are looking for more powerful reach and insights for their LinkedIn campaigns.”

Among some of the changes made is the improved campaign forecasting panel in Campaign Manager. Now you can see your target audiences’ make-up right from your dashboard. You can also customize the panel to “surface specific professional characteristics” for your audience, like top industries, years of experience, or company sizes. 

LinkedIn has also reported that the updated forecasting panel works with Matched Audiences to “not only [serve] ads to the specific prospects you’re trying to reach, but that you’ll have the demographic insights to deliver the content and creative mix that will resonate with them.” 

Another new feature for advertisers is boolean targeting. LinkedIn stated that using “And/Or” targeting allows advertisers to reach the right audience “through more sophisticated combinations of profile facets like job function, seniority, and titles” within a single campaign. Boolean targeting also provides advertisers with greater flexibility to determine who sees their ads. 

LinkedIn’s demographic reporting has also been improved and now allows advertisers to “understand which audiences are watching [their] video ads, filling out [their] Lead Gen Forms, and opening [their] Sponsored InMail messages.” This data gives advertisers a better understanding of the performance of their campaigns so they can make strategic adjustments to get better results from their ideal audiences.

 

That’s it for now! We’ll be back next quarter with more LinkedIn updates. In the meantime, you can find our full LinkedIn changes report for August through October 2019 on AdvisorU.

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Social Media Changes – March 2019

The social media world is constantly changing. It can be hard to keep up with all of the latest features and policy updates, so we’ve made it easy for you to stay in the loop by creating a monthly roundup of what’s new on Facebook, LinkedIn, Instagram, and Twitter.

This month, Facebook changed some of its advertising metrics, while LinkedIn made it easier to schedule meetings through Messenger. Meanwhile, Instagram made an exciting shopping update and Twitter continued to test a host of new features.

Read on for more noteworthy social media changes that happened in March 2019.

Facebook

New Ad Metrics

This month, Facebook announced  changes to how it will measure the relevance of ads. Before, Facebook used a relevance score to measure whether ads were relevant to the audiences they reached. Facebook has now broken down the relevance score into three categories to help advertisers get a better idea what tweaks they need to make to improve their ad’s performance.


The new relevance score will include:


  • Quality Rank — How your ad’s perceived quality compares with ads from your competitors.
  • Engagement Rate Ranking — How your ad’s expected engagement rate compares with ads from your competitors.
  • Conversion Rate Ranking — How your ad’s expected conversion rate compares with ads from your competitors.

Watch Parties

Forget live tweeting, Facebook is making strides to become the place to be for live chatting about televised events! This month, Facebook announced plans to expand its Watch Party feature to allows users to watch and discuss TV shows in real-time. Facebook will begin testing the new feature with live sports events like UEFA Championships League soccer matches so fans can have the chance “to cheer, debate and commiserate on Facebook while watching their favorite match-ups.” More features that might be added to the experience in the near future include trivia questions, fun facts, and live polls.

Facebook Outage

Did you survive the Facebook outage? In mid-March, Facebook and its other owned networks, including Instagram and WhatsApp, experienced their longest outage to date, or at least since Downdetector began tracking Facebook’s service levels in 2012. According to BNN Bloomberg, the sites went down at around 11:15 a.m. EST on Wednesday, March 13, and continued to be down until Thursday, March 14 — leaving users with little choice but to head over to other social sites like Twitter for online social interaction. Facebook has since cited the cause of the outage as “a shift in the setup of its computer servers.”

LinkedIn

Scheduling Meetings

Scheduling meetings online can be a hassle, especially when it comes to coordinating calendars — after all, we’re all busy people! But now, LinkedIn is making scheduling easier with their newest update to LinkedIn Messenger. Now when you’re chatting on LinkedIn Messenger to schedule a meeting, you can share your availability through a new “Availability” calendar button. LinkedIn will then access your local calendar to find available times and can also help you find a place to meet by allowing you to find and share locations in your chat.

Advertising

LinkedIn is continuing to refine its advertising tools. Just this month, they launched three new advertising tools to help advertisers increase the scale of their advertising and improve ROI.

These new tools include:

  • Lookalike Audiences, which combines the traits of your ideal customers with LinkedIn’s member and company data to reach new audiences similar to your existing customers.
  • Audience Templates, which provide more than 20 predefined B2B audiences with characteristics like skills, job titles, and group memberships to help you set up your targeting faster.
  • Interest Targeting With Microsoft Bing Search Data, which allows you to target people based on your audience’s professional interests on LinkedIn and according to the professional content they engage with through the Bing search engine.

Instagram

Checkout

Are you ready for some late-night impulse shopping? This month, Instagram expanded its shopping capabilities with a new Checkout feature, which lets you make purchases directly through the app. To buy products on Instagram, all you have to do is click the “checkout on Instagram” button on brands’ product posts. Once you click the checkout button, Instagram will lead you to color and sizing options before taking you to payment information. To make the checkout process even easier, you’ll only need to enter your name, email, billing information, and shipping address the first time you check out. You will also receive updates about your purchases right in the app, including shipping and delivery notifications. Brands set to roll out this feature in the coming weeks include Adidas, Burberry, H&M, Nike, Dior, Uniqlo, and with more to come. I don’t know about you, but my wallet is definitely not ready for this!


Username Changes

Have you outgrown your Instagram username? Well, now you’re in luck! Instead of having to create a whole new account, Instagram might soon let you choose a new username. The platform is currently testing a feature that would allow users to test out new usernames while keeping their old ones on reserve for 14 days — just in case you change your mind again.

Twitter

Twttr Prototype App

This month, Twitter launched its prototype app, Twttr, which they will use to test updates before officially rolling them out. Some updates currently being tested include nested replies in threads, hidden engagement statistics on tweets (like the number of likes and retweets), and the option to hide side conversations in threads. If you’d like to sign up for twttr and test out the newest features before they’re official, you can find the application for the app here.

Video Analytics

Twitter will soon debut an analytics tool that measures video engagement, called Timing is Everything. According to newsX, the tool is meant to help publishers “perform more efficiently and generate large revenue” and will show statistics like video streaming numbers and what time of day videos are getting the most views so publishers can maximize engagement and viewership. The more analytics, the better!

That’s it for now! We’ll be back next month with more social media updates. In the meantime, you can read our full Social Media Changes Report for March 2019 on AdvisorU.

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How to Create the Right Expectations for Your Social Media Marketing

Why is it important to have realistic social media expectations?

Having the right expectations will help you create realistic goals. Common goals for financial advisors include establishing themselves as thought leaders, building brand awareness, creating a positive brand association, acquiring clients, and improving interaction with key audiences.

When you understand how social media works and how it fits in with your business, you can avoid thinking social media is not for you just because you are not getting the results you thought you would.

Here are two common unrealistic expectations to avoid:

 

  • Unrealistic Expectation #1: Forgetting That Social Media is Only One Part of Your  Marketing Strategy

 

Many advisors who decide to add social media to their list of prospecting tools don’t consider that it is a part of their overall marketing strategy. This leads to expecting unfeasible results and not approaching social media like any other marketing effort.

In reality, social media is = an extension of your overall digital marketing efforts. Whether that includes updating your website with content that converts visitors, using search marketing or pay-per-click ads, social media is a supporting member. When you see social media as a part of your overall marketing strategy, you become more patient with the process and open to finding what works for your brand.

 

  • Unrealistic Expectation #2: Expecting to Cut Right to the Sale

 

There is a common unrealistic expectation that financial advisors have when they start using social media: They expect prospects to swarm in once they’ve churned out a couple of posts.

The reality? That’s not how it works. Especially in the financial services industry — no one wants to give a stranger his or her money to manage.  Social media is a place to build confidence and establish authority with prospects before moving on to securing business. In short, success on social media requires relationship building.

Now you have the right mindset, how do you come up with the right goals?

Questions That Help Define Your Social Media Marketing Goals

As I mentioned earlier, social media marketing is a supporting member of your digital marketing plan. Therefore, whatever goals you set for your social media should flow naturally from your business’s marketing goals. The purpose of the medium is also going to influence the types of goals you set. Here are some questions that can help you get started:

  • What are you hoping to achieve through social media?
  • Who is your target audience?
  • Where do they hang out on the web?
  • How do they use social media?
  • What key messages do you want to communicate?

Regulatory Restrictions for Social Media

To not expect regulatory restrictions to guide what can and cannot be posted on social media is to forget what industry you are in. Many financial advisors are only permitted by compliance to use LinkedIn, Twitter, and Facebook. While this might sound limiting, the average person has 5-7 social media accounts according to brandwatch. So it’s likely that your prospects are on at least one of the social channels you are using. Consider how your prospects might use each channel for (e.g. using Facebook to see family updates) and craft your social media posts accordingly. This post on knowing your audience and marketing to them has some great tips to help you understand your audience better.

Conclusion

So how can you make sure you’re creating the right social media goals? It begins with having the right mindset and setting realistic expectations. Through social media, you can help prospective clients identify themselves as a good fit for you and vice versa. And finally, keep in mind that it isn’t always about asking for a prospect’s business: It is about providing relevant information through content and interaction.

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Social Media Changes February 2019

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The social media world is constantly changing. It can be hard to keep up with all of the latest features and policy changes, so we’ve made it easy for you to stay up to date by creating a monthly roundup of what’s new on Facebook, LinkedIn, Instagram, and Twitter.

This month, Facebook added new features to Groups, while LinkedIn spruced up their hiring tools. Meanwhile, Instagram started to push its spin-off app, IGTV, a little more, and Twitter began testing a host of new features to help make conversations flow better than ever.

Read on for more noteworthy social media changes that happened in February 2019.

Facebook

Groups

In their latest update for Groups, Facebook added new post formatting tools for administrators, along with new tools to help admins manage their Groups. These new features include tools for informing members when they violate a rule, the ability to filter content in their admin activity log by date, and the ability to search through membership requests by name.

The platform is also said to be launching a new pilot program that will allow Groups to collaborate with brands and will also allow Facebook Pages to join and participate in Groups.
 Other changes in the cards for Groups include the expansion of Group subscriptions to more partners and the expansion of the Group mentorship program to all Facebook Groups.

 

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Advertising

There’s going to be a big shift in Facebook advertising this year! According to Search Engine Journal, starting September 2019, all ad campaigns will be transitioned to “campaign budget optimization,” which will give advertisers “one central campaign budget across all ad sets.” With just one budget for a campaign, Facebook will then “automatically distribute the budget to top performing ad sets” to generate the best results while saving costs and time for advertisers. Right now, optimizing your budget is optional, and advertisers can set budgets for each individual ad set. With this change, optimization cannot be turned off and will apply to old and new campaigns.

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Android Location Controls

Starting this month, Android users will finally have more control over how Facebook tracks them and stores their personal information. With a new update to Android’s location controls, you can now choose if you want to allow Facebook to continue collecting location information about you even when you’re not using the app. Before, when location history was enabled, you would share your location even when not using the app, which allowed Facebook to store a history of your precise locations. If you’re an iOS user, don’t worry — these controls already exist for you!

LinkedIn

Hiring Tools

Finding job candidates or jobs will soon be easier than ever with LinkedIn’s new platform, Intelligent Hiring Experience. Tools like LinkedIn Recruiter, LinkedIn Jobs, and Pipeline Builder will soon be moved to the new platform to streamline the job/candidate hunting process.

Along with the new platform, LinkedIn launched new tools for job hunters, including one that provides “more in-depth salary comparison between current and prospective jobs” and will show users suggestions for “Jobs Where You Could Make More Money” within job listings. Another new feature includes push notifications for job postings and a new “Job Title Highlights” tool, which provides “a quick look at specific job titles to help you get ahead in your job hunt.”


Now, when you search for a job title, you’ll see:


  • The top skills possessed by people with that title
  • The top companies hiring for that title
  • And any first-degree connections you may have with that title

To access this tool, just use the search bar in the LinkedIn desktop site and search for a job title
. Happy hunting!

Groups

LinkedIn has also introduced new additions to LinkedIn Groups this month. The platform is starting to roll out a feature that will compile Group notifications into a single update so that Group notifications don’t clog up notification feeds.
 Also coming up in Groups is the ability for admins to notify members of important conversations happening in their Group and a new process for admins to review and approve posts for “a proactive way to ensure that the content which gets shared in their groups is relevant and valuable.” Also coming soon . . .  cover images!


Instagram

IGTV

You’ll soon be seeing more of Instagram’s spin-off app, IGTV, in your Instagram feed. With a new update this month, users will start getting videos from IGTV in their main feed among regular posts. These IGTV posts, however, will have a tag to identify them, and users won’t see any videos from people they aren’t following — unlike in the actual IGTV app.

Direct Messaging on the Web

Another new feature to watch for is the ability to use Direct Messaging on your computer! Instagram is said to be testing a new feature that will let users use Instagram’s DM feature on the desktop version of its site, which as of now remains rather limited, with no option to upload photos or message others.

 

Twitter

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Testing New Features

This month, Twitter started testing a host of new features that could indicate what’s to come in the future. Among the features being tested are:

  • Profile Overlays: a new feature that will enable users to preview other users’ profiles without having to go to their full profile page
  • Moderating Replies: a feature that will allow users to hide replies to their tweets, replacing them instead with an option to show the hidden replies for other users who still want to see them
  • Clarifying Tweets: CEO Jack Dorsey revealed that the company is considering adding this new feature that would be “kind of like retweet with comment . . . to add some context and some color on what they might have tweeted, or what they might have meant”


[/et_pb_text][/et_pb_column][et_pb_column type=”1_2″][et_pb_code admin_label=”Code” _builder_version=”3.0.50″]<blockquote class=”twitter-tweet” data-lang=”en”><p lang=”en” dir=”ltr”>We’re testing an easier way to check out profiles on iOS without leaving your timeline! Simply tap any @ handle in a Tweet, take a peek, follow, and get right back to it. Let us know what you think! <a href=”https://t.co/dIUFxI2r4C”>pic.twitter.com/dIUFxI2r4C</a></p>&mdash; Twitter (@Twitter) <a href=”https://twitter.com/Twitter/status/1095784011845324801?ref_src=twsrc%5Etfw”>February 13, 2019</a></blockquote><!– [et_pb_line_break_holder] –><script async src=”https://platform.twitter.com/widgets.js” charset=”utf-8″></script><!– [et_pb_line_break_holder] –>[/et_pb_code][/et_pb_column][/et_pb_row][et_pb_row admin_label=”Row” background_position=”top_left” background_repeat=”repeat” background_size=”initial”][et_pb_column type=”4_4″][et_pb_text admin_label=”Text” _builder_version=”3.0.50″ background_layout=”light” text_orientation=”left” border_style=”solid”]

Livestreaming With Guests

Ever dream of becoming a talk show host? Well, now with Twitter’s latest addition to its livestreaming app, Periscope, you can live out your dream! This month, Twitter added a feature that helps users become more interactive with their viewers by inviting them to join their livestreams. As of now, you can add up to three guests at one time in addition to the host, and if any guests leave, the host can replace them with other users.

That’s it for now! We’ll be back next month with more social media updates. In the meantime, you can find our full social media changes report for February 2019 on AdvisorU.

 

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Social Media Changes July 2018

When it comes to the social media world, things are constantly changing. It can be hard to keep up with all of the latest features and policy changes, so we’ve made it easy for you to stay up to date by creating a monthly roundup of what’s new on Facebook, LinkedIn, Instagram, and Twitter.

Read on to learn about the changes that launched in July 2018.

FACEBOOK

Watch Party

This month, Facebook introduced a brand-new feature called “Watch Party” that lets you watch videos with your friends in real time. You can now create Watch Parties in Facebook Groups, where you can curate your own playlist of videos for your friends to watch and comment on at the same time. As of now, Watch Parties are only available in Facebook Groups, but will likely be expanded to other parts of Facebook in the future

Keyword Snooze

If you’re not up to date on your favorite TV shows and have to strategically dodge spoilers on the internet, Facebook now has your back! The platform introduced a new “keyword snooze” feature this month, allowing users to temporarily hide posts containing specific keywords. To use the feature, just click on the three little dots on the top right-hand corner of a Facebook Post containing the keyword you’d like to hit “snooze” on, and any further posts containing that keyword will be hidden from your News Feed for 30 days. For people like me who are always behind on their TV shows, this one’s a life saver.

Ad Transparency

In an effort to increase transparency surrounding Facebook advertisements, the platform will now offer more information about advertisers to its users. In July, Facebook added a new “View Ads” tool that lets you see a list of all active ad campaigns, even if the ads are not political in nature.

On a related note, Facebook is testing new label that will now appear on branded posts. The label’s purpose is to provide details about the arrangement between paid partnerships and the branded posts (i.e. publishers) that represent them.

[box] Do you have a Facebook addiction? Facebook is now working to help curb addictions to its platform by introducing a new  “Your Time on Facebook” feature, which shows how much time you’ve spent on the site during the past seven days. You can even set a time limit and the feature will alert you once you’ve spent a certain amount of time on Facebook. This feature is only on Android at the moment.[/box]

LinkedIn

LinkedIn Codes

LinkedIn recently added QR codes (or “LinkedIn Codes”) to each profile, giving you a new way to expand your network. Now you can add connections by scanning other people’s QR codes using the mobile LinkedIn app, emailing them your code, sending it through other apps, or by putting the code on your business cards for people to scan.

Captions, Quotes, Messaging & Drafts

LinkedIn also did a little revamping of their desktop version of the site in July. You can now do the following:

  • Add captions to the videos you post from the desktop version of the site by attaching a SRT (SubRip Subtitle) file along with your video
  • Highlight and share quotes from LinkedIn articles with your network on mobile
  • Save your posts as drafts
  • Use @mentions to bring someone into a group message or to share their profile in a message
  • Copy and paste images directly into LinkedIn messages

Campaign Manager

For those who run multiple campaigns on LinkedIn, the site has revamped its Campaign Manager to provide a “more intuitive experience” to marketers running multiple campaigns. The Manager now features breakdowns of campaign data and personalization options (for example, you can customize it to display the metrics you review most often), and there’s also a new navigation structure to allow you to switch between accounts and campaigns more quickly. The search feature has also been updated, and now data from a specific campaign can be found by searching the campaign name, ID, or ad format.

Instagram

Video Chat

If sharing photos and videos, posting live stories, or messaging on Instagram isn’t enough for you, you can now video chat with up to three other people through the app’s new Video Chat feature. The feature can be reached through Direct Messaging by using the camera icon, and you can also minimize your video chat and browse through the app while still talking to your friends.

You’re All Caught Up

While Instagram hasn’t brought back chronological timelines, they have tried to make it easier for users to keep track of what they’ve already seen by introducing a new “You’re All Caught Up” feature. The new feature will will now tell you once when you’ve seen all of the latest posts from the past two days, eliminating any uncertainty over what you’ve seen and what you haven’t.

Instagram Stories

There are also a couple few new features that have been added to enhance Instagram Stories. You can now do the following:

  • Add music to your stories on Android and iOS
  • Use question stickers to ask and answer questions from people watching your stories

Twitter

Ads Transparency Center

Twitter recently launched its Ads Transparency Center, which allows users to view ads that have been published globally. For political advertisements, users can view additional details like demographic targeting data, billing information, ad spending, and impression data per tweet.

Policy Changes

In an effort to reduce bots and trolls, Twitter now requires new users to confirm an email address or phone number to register for an account. Twitter has also been suspending more than one million accounts per day to decrease the spread of disinformation.  As well, Twitter is no longer counting accounts as followers if they have been locked because of suspected fraud. Because of this, you may see your follower counts take a dip.

Check back next month to see more of the what’s new on social media. In the meantime, you can find our full social media changes report over on AdviserU.

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The Cost of Doing Business

There are some hard facts to face when running your own business. Over the years as a business coach, I’ve been trained to spot the flaws in an advisor’s system. Whether it’s personal to the advisor, a hiring error, or structural mistake I’ve seen it all and helped fixed it all.

But no offense, there is something that advisors tend to get really prickly about fixing, and it’s one of the fastest ways to grow your business.

Few, if any of you, spend the right amount of money on your business.

You spend money on your team. Some of you even pay well

You spend money on events. I can’t guarantee they’re well attended or profitable, but you do it.

You spend money on some sort of canned commentary and communication to your clients.

You spend money on your tech, trading and RIA or BD fees.

And quite a few of you have so much money left over that you use your business as your own piggy bank.

Few of you spend money on what matters most.  Real service. Real marketing.

I wish I knew who convinced our industry that some crappy email commentary was an actual desired piece of communication.

You know this from your open rates, since 80% or more of your clients don’t read emails from you. They’re straight to the trash. And honestly, that’s probably because they know you didn’t write it.

These emails make them think too much about the market. Which is the exact opposite of what they want to do (they hired you to do it for them, remember?).

So even though it may be hurting your business, you still send it, which means you’re still paying for it. And you’re not providing a service.

Many of you also host that once-a-year or once-a-quarter client appreciation event believing that’s enough to keep you top of mind. I have a family reunion once a year, and let me tell you, the moment I leave I instantly forget whatever inappropriate comment Aunt Gladys made.

Then to top it off, you phrase these events as “Bring a Friend.” Translation? Bring us more clients, or we don’t appreciate you.

Marketing + communication = service

Few of you spend the average of  7% of your gross budget on real service. Gartner research says companies that want to grow should spend 10.2% of their gross budget on marketing and communication.

So let’s do some math!  I love math! You love math. And we can’t argue with numbers.

A firm that grosses: $500,000 should spend 10.2% of that on service:  $51,000! Now that is some walking around money!

Some of you are thinking that’s crazy!  What would I spend 50K on when it comes to service?

To be clear, cost is entirely relative due to location.  But let’s look at a breakdown of what you could do with a service budget of 51K based off of some of the firms we’ve worked with.

10K should be donated every year to sponsoring an event that your firm cares deeply about. This should be to help that organization raise money for their charity. You could even run the event yourself, but this is your charitable contribution budget.

13K should be spent on outgoing communication that is tailored, created for and by your company.  This is not for a canned commentary about the markets.

13K should be spent on social media communication specifically.  This can be a part-time person or having your social media outsourced.

Why 13K? Well, social differs from regular  communication due to frequency of posts. For every one financial services post you need to have 2 personal posts about your office. These can be action shots, posts highlighting things your team does, the advisor does, things outside of work, local news, motivational sayings, things about a book you are reading, the weather, whatever, just skip the number talk.

3K X 3 should be spent on nice things for your clients.  Holiday events, movie events, cookouts, golf, wine, whatever (if you want to know more download the book: http://a.co/3WOua7C )

So we are at 48K for real service. None of what I just described could be labelled as sales. All of the money went directly into deepening your relationship with your clients. The firms that do this grow faster than firms that don’t. Just common sense.

And guess what?

You still have $452,000!

And if we take ½ of that for all other expenses.  The advisor keeps $226,000…

A 45.2% profit.

Where else can you get that sort of profit that is legal? Nowhere.

You have to spend money on your business.  And just like the cost of your groceries, the cost of doing business increases every year.

If you want to grow, make the investment in your business.