In the era of digital connectivity, social media has emerged as a potent tool for financial advisors, enabling them to forge deeper connections with their clients. From the bustling streets of Mumbai to the serene lanes of Kolkata, platforms such as LinkedIn, Twitter, and WhatsApp are revolutionizing the way advisors build and nurture client relationships. "On LinkedIn, I focus on sharing industry insights and engaging with professional networks through articles and posts. Twitter allows me to provide quick updates and interact with a broader audience, while WhatsApp is my go-to for more personalized and immediate communication with clients," she explains. "Each platform has its unique strengths, and I tailor my strategies to leverage these effectively to enhance client relationships." 

“As the digital landscape continues to evolve, one thing remains certain: social media is a game-changer for financial advisors in India, reshaping client relationships one post at a time,” asserts Minakshi Ghosh, a three- year MDRT member from Darjeeling, India. 

But what exactly does social media bring to the table? It’s not just a platform for broadcasting market updates; it’s a tool that fosters trust, transparency, and timely communication. Financial advisors use these platforms to share valuable insights, provide personalized advice, and actively listen to their clients’ needs and concerns.  

With the power of a click or a tap, advisors can now reach out to clients, answer questions, and provide support, all at their convenience. This accessibility makes the client-advisor relationship more inclusive and empowering for advisors.  

There have been many instances where social media has strengthened her client relationships. “All my brochures and plans are regularly circulated through WhatsApp, ensuring two things: firstly, clients receive all information on time, and secondly, we remain in regular touch with them. In this competitive market, it is crucial for us to be remembered by our clients,” says Ghosh, adding, “At the initial stages, it was quite difficult to educate people about finances on virtual platforms.” For example, many clients were skeptical about the security and effectiveness of virtual financial consultations. To overcome this, I organized a series of online webinars and interactive Q&A sessions where I could address their concerns directly. I also provided step-by-step guides on how to use the virtual platforms securely. By consistently demonstrating the benefits and maintaining open lines of communication, I was able to build trust and gradually shift my clients' perspectives on embracing virtual financial education.”  

However, as she built relationships with her clients and demonstrated the benefits through live examples, trust began to grow. “People have started believing us through social media, but I feel first I had to build a relationship with the client normally, and only then did they start trusting my messages. I really had to show them live examples of profits, and only then did they believe it to be true and invest themselves. Also, it had to be beneficial for them,” she explains.   

The best strategy Ghosh has been using to maintain client engagement on social media is creating broadcast groups where she can post and send information in one go. She says, “Interested clients always reach out for more information. Additionally, statuses have become handy for sharing GIFs and videos related to financial advertisements.” Ghosh recounts an anecdote about one of her successful social media campaigns. “A successful campaign I experienced was during my company’s launch of a new term plan. We distributed the brochure to a targeted audience of around 500 people, primarily consisting of young professionals and families with dependents. The new term plan was particularly relevant and important to them due to its comprehensive coverage and competitive pricing, addressing their concerns about financial security and protection for their loved ones. Additionally, at the time of the campaign, there was a growing awareness in the market about the importance of life insurance and the need for affordable yet reliable coverage, making the launch of the new term plan particularly timely and significant for my clients." 

While she circulated the brochure through status updates and broadcast groups on WhatsApp, she also personally followed up with each recipient to address any questions or concerns they might have had. “I made myself readily available to provide further information and clarify any doubts. One common concern that frequently came up was about the reliability and security of the online payment system. To address this, I explained the multiple layers of security implemented in the payment process, provided examples of successful transactions, and even offered a step-by-step walkthrough of the payment procedure. By demonstrating a commitment to their needs and offering personalized support, I was able to build trust and confidence, ultimately leading to the successful sales of six policies within two days.”  

Gaining a client’s trust involves the personalization of professionalism because formal communication methods can be hard for some clients to understand. Personalizing the approach for their better understanding and trust-building is mandatory. “In India, being a financial advisor can be very tricky. Initially, it is very difficult to gain someone’s trust, but once it’s earned, it becomes our sole duty to cater to their needs and interests. That is when they start believing in us with their most trusted element of life — finances! It is also important to balance professionalism and personalization on social media, is crucial," Ghosh explains. "However, there's no one-size-fits-all approach; we must adapt our strategies depending on each client’s needs. For instance, when I post on social media, I ensure that my content maintains a professional tone. At the same time, I incorporate personal anecdotes or insights relevant to my audience. This could involve sharing success stories or industry insights in a relatable manner, all while upholding the standards of professionalism expected in the financial advisory field. By striking this balance, I'm able to engage with my audience authentically, reinforcing my expertise and credibility as a financial advisor."  

Contact: MDRTeditorial@teamlewis.com