When it comes to social media, most fund managers have recognised the potential risks and some are beginning to take advantage of the opportunities. Today, fund managers often count thousands of followers on LinkedIn and just being “on” the platform is not enough. Is your firm being left behind?
Well, one of the best ways to improve your impact on LinkedIn, is to start with your team. If their profiles are good and they actively share the firm’s content, the entire business will benefit.
So, how do you measure an individual’s presence on LinkedIn?
Luckily, LinkedIn has you covered. Its Social Selling Index (SSI) is a free tool measuring four aspects of your LinkedIn presence and compares these to others in your industry and network. There’s a link at the foot of this article that will take you to see your own SSI score but before we get to that, let’s look at the four SSI components and how to improve in each.
1. Establish your personal brand
This component of your SSI score is rooted in the quality of your personal profile page.
To start with, you simply must upload a profile photo and background image on your profile. If you don’t, your profile will look bare and unwelcoming – it will also suggest that you are an infrequent user of the platform and that, therefore, interacting with you is unlikely to be a good use of time. Next comes your headline, the short line of text at the top of your profile. Most list their job title, but it’s better to explain what you actually do. Whose profile are you more likely to read: Partner at ABC Investments or Early investor into AirBnB, Stripe, Spotify?
From here, you should fill out every applicable section of your profile, making sure to provide examples of your work where possible – if you’ve penned articles, been featured in videos, or recorded a podcast, it should ALL be featured here (LinkedIn rewards multimedia content). You’ll also want to select your skills, so that these can be endorsed by others. Recommendations are an important features of your profile and will increase your SSI considerably. The best way to encourage others to recommend you is write one for them, first, of course.
2. Get connected
This component assesses the breadth and strength of your network.
Around 500 connections will net you a solid score but, whilst one goal is to connect with as many people as possible, you should aim to do this organically. Focus on connecting with individuals within your sector, with similar interests. Like-minded individuals are more likely to engage with your posts, which will benefit you in the long run.
Some of the best ways to develop useful connections on LinkedIn are:
- filter your searches by second-degree connections (people who are connected to others that you are already connected to) and introduce yourself to them;
- find people who are engaging with your content (or your company’s content) and reach out to them;
- join industry groups and actively contribute to them;
- promote your LinkedIn profile elsewhere, such as your email signature or the “Our team” section of your company website; or
- if you are a LinkedIn Premium user, you can access a list of people who have viewed your profile and connect to them.
3. A most promising engagement
Engagement measures your activity on LinkedIn.
Even if you are an active user of the platform, if you don’t post or interact with content, no one will ever know.
Sharing content relevant to yourself and you network is good start, but you can vastly improve engagement by opening a discussion surrounding the content you are sharing. Pose a question or provide your own insight within the comments of posts and conversation may start to flow. Follow hashtags and groups relevant to you for a steady stream of content to share. Pay particular attention to the activity of your own firm and colleagues, as interacting will boost their posts.
The most effective strategy, ultimately, is to post original content, adding articles to your profile and sharing them to your network. Focus on hot topics and trends in your sectors to gain a natural boost.
4. Build relationships
This measures the strength of your relationships with decision makers.
Once you have identified and connected with them, engage with their posts, liking, sharing, and (especially) commenting. Reach out with a message, from time to time. All of this activity increases your SSI score, supports your prospect, and keeps you at the front of their mind. Of course, building a relationship is a two-way street, so keep working on putting out engaging content on your own profile. One last thing: don’t be afraid to be human: post personal achievements, talk about your hobbies, or share something inspirational – anything that encourages discussion. The aim is to build trust, and showing some personality is a big part of this – don’t behave like a corporate robot!
Remember, the steps above will only yield results if you keep at it – you’ll see some results quickly, but real progress will take time. Good luck! You can track your personal SSI score, here.
And if you want to know (a lot) more about how to get LinkedIn to work for you and your firm, MJ Hudson’s LinkedIn handbook for fund managers is available to download for free, below. In it, as well as building the perfect personal presence, we explore:
- how to structure and optimise a company page on LinkedIn;
- how the LinkedIn algorithm works and how to get it to work for you;
- how to produce effective and engaging content and organise social media campaigns using our VELCRO methodology; and
- how to use analytics to monitor, measure and benchmark success.
Since adopting the processes and best practice set out in our handbook, MJ Hudson has seen a 400% increase in followers. Looking for similar results? We suggest you take a peek…