Panacea Adviser, an online community and resource for financial advisers, has launched a new Social Media Guide aimed at helping advisers understand the benefits of social media and how to use it effectively.
The guide Using Social Media Successfully aims to help advisers who are looking to become more active in social media offering them information on the reasons why they should be involved, the potential benefits for their business and the compliance issues to be navigated.
It also takes advisers through the process of developing a social media strategy - setting desired outcomes, benchmarking, identifying key influencers, tracking performance - as well as the questions to ask on what specific social media to use, how to put the strategy into action and how to generate content in order to improve interactivity.
The launch of the guide follows a recent event held by Panacea at which four experts provided information and guidance on how to get the most out of social media.
Derek Bradley, CEO of Panacea Adviser, said: "We fully appreciate that time constraints often make social media use feel like a ‘nice to have' rather than a ‘must have' for many, however it's fair to say that those who continue to ignore the power of social media are likely to be making a sizeable mistake - one that could affect the longevity of their business."
He added: "Use of social media is only likely to increase and therefore advisers need to engage with the medium sooner rather than later."