7 steps to getting referral-rich Facebook fans

A Facebook fan is worth $136.38, according to a June study by Syncapse. Not only that, it turns out Facebook fans are 28 percent more likely than nonfans to continue using a brand and 41 percent more likely than nonfans to recommend a fanned product to their friends.

While this report may not directly apply to financial advisor and investment firms, it points to a new and largely untapped referral source for savvy financial advisors.

Here are seven steps for a successful–and compliant–Facebook page for your business:

1. Set up a Facebook page for your independent advisor firm or see if your corporation already has a Facebook page.
2. Commit to having an active social media presence with weekly posts, not just a static ad.
3. Invite your most influential clients and relationships to "Like" your page. Facebook helps you do this.
4. Choose your fans wisely. Avoid the mistake many people make of adding fans who are not relevant to your business.
5. Keep those relationships in your personal Facebook page.
6. Post valuable, compliant information for your audience. This can include current news, discussion questions or other helpful information.
7. Make sure your posts are done within the requirements of your corporate and regulatory guidelines. Socialware is a company that specializes in helping regulated firms with compliant social media policies and practices.

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