Last year, according to Statista , the total number of LinkedIn users in Singapore was around 2.83 million people, making it the third most used social media platform and the number one professional networking platform. Of that 2.83 million people, 60.1% of them are aged 25 to 34 years old. But as of today, the number of LinkedIn users in Singapore has risen to a total of 3 million users.
LinkedIn is a social networking platform for professionals and employers to connect. Besides being popular in Singapore, the platform is also widely used in other parts of the world. As of 2021, LinkedIn has a total of 722 million members that are scattered across more than 200 countries.
People usually go to LinkedIn to expand their professional network and to find a suitable job. But for financial advisors, LinkedIn is also an amazing platform to build an online reputation.
How does LinkedIn benefit Financial Advisors?
- Build connections
LinkedIn is a great tool for financial advisors to build their network. Although the platform is famously used to seek job opportunities, it is also a thriving networking tool that professionals use to build trust and relationships. The first step to building a connection on LinkedIn is to gain people’s interest in your profile. And to do that, you need to know how to showcase your portfolio.
- Showcase your work and interests
Before you tell people what to do, you need to let them know of you first. Since LinkedIn is used by many professionals out there, it can get a little tricky for you to stand out. Try to differentiate yourself and gain exposure from your target audience. For instance, if you want to be seen as a professional in a certain field, you need to show people your expertise through your posts.
- Lead generation
LinkedIn is a great lead generation platform for financial advisors as you will have more access to detailed targeting—their industry, work experience, and interests. As a financial advisor, you will need to develop a system that can generate leads for your business. Only then can you nurture those leads and turn them into clients. And LinkedIn is a great way to start generating leads as around 80% of B2B social media leads come from this networking platform.
- Build reputation
In 2018, as the only business social media platform, LinkedIn has the most well-off demographic with 51% of its users having a college degree and 75% of them are executives and leaders. In other words, it is the best platform for you to showcase yourself as a leader or an industry expert and build your reputation from there. To start, show your potential clients how you can provide value to them and offer your expertise as a financial advisor.
- Create awareness
LinkedIn can help you boost your online presence. We all know that it is not easy to stand out among the rest, especially on online platforms. But on LinkedIn, you get to appear in more search results, have more shared connections, and have your posts reach more people when you have more than 500 connections on the platform.
Introducing our LinkedIn 10-Step system
Here’s what you need to know
You need to always remember that LinkedIn is not a place for you to sell or market your products. On LinkedIn, you build relationships with potential clients and see if you have solutions to their problems.
Calvin, the Founder of EΛOL, has been using LinkedIn since 2014 as part of his recruitment source. And since then, he saw how effective the platform is and that it should be one of the key sources for recruitment. He then introduced LinkedIn to his financial advisors, and those who use the platform regularly can get up to five sales appointments from LinkedIn alone.
Whether it is for recruitment or sales, LinkedIn is all about relationship building. And in EΛOL, we use LinkedIn to connect with other professionals. Today, Calvin has more than 14,000 connections on LinkedIn and he engages with them regularly by writing at least four articles per month on topics that interest them.
Not only is LinkedIn great for B2B marketing, but it also plays a big part in ensuring that we have a regular flow of leads for our candidates and prospects. With 3 million LinkedIn users in Singapore, for financial advisors who would like to build a professional presence online, LinkedIn is a must-have.
At EΛOL, we specialise in utilising digital technology and automation in our work. Join us and our seasoned financial advisors will walk you through how to build your reputation on LinkedIn. Ready to explore this job opportunity for yourself? Get in touch with us now.