There are 111,137,500 people on LinkedIn that don’t have a completed LinkedIn profile. According to LinkedIn “only 50.5% of people on LinkedIn have a 100% completed LinkedIn profile.” Those with a 100% complete profile are 40 times more likely to benefit from search and connection opportunities if LinkedIn is too be believed.
Make no doubt about it; the LinkedIn Profile is one of the most important pages on LinkedIn. Think about it like this – it is how you present your professional background to other LinkedIn members seeking your expertise and it is what you look at first when you consider contacting or connecting with someone on LinkedIn.
As your daddy used to say: “Do it right or don’t do it at all.” An incomplete Profile sends the message that you just don’t care. Is this the type of message you want to send to those visiting your Profile? Remember this is their first time for them to get to know you. What you say about yourself, your professional qualifications, credentials, groups and community involvement may make the difference between you doing business with these people or not.
Simply put, your LinkedIn Profile is how you differentiate yourself from the over 225 million other LinkedIn members. If your LinkedIn Profile isn’t 100% complete here’s what you’re missing:
- You Can’t Be Found!Try this: Google your name. If your LinkedIn Profile is 100% complete, your name is probably the first link you’ll see on the results page, meaning it’s probably the first link someone searching for you will see.
Why does this happen? The reason, search engines – Google, Bing, Safari – consider LinkedIn to be a highly authoritative, reputable source and this pushes your LinkedIn profile to a first page ranking.
Now, if you are part of the group of advisors that has an Emerald Connect website and pay for the premium service, you will have your website and LinkedIn Profile quite possibly one and two on the search page results.
Stated another way: If your not on LinkedIn and if you don’t have a website you can’t be found by your clients and prospects.
If you can’t be found here’s what you’re missing:
Are Your Clients on LinkedIn?
- 87% of Mass Affluent ($100k – $1M in investable assets) are highly engaged on social media
- 44% engage with financial companies
- 34% engage with content from financial companies US adults with investment accounts have LinkedIn profiles
- Among those who use social for BOTH discovery and consideration, nearly two-thirds are driven to action:
- 21%: use social to stay up-to-date on financial trends and companies – Discovery
- 32%: use social to seek advice or gather info to make a financial decision – Consideration
- 63%: Open/close account or purchase product – Drive to Action
Is Your Competition on LinkedIn?
According to survey conducted by LinkedIn in February 2012, which polled 139 advisors from wirehouses, 209 from broker-dealers, and 115 RIAs:
- 71% of advisors said that they are using social networks to do business
- 91% of advisors on social media use LinkedIn –more than 180,000 U.S. financial advisors use the network
- 53% of advisors on LinkedIn use the network at least once a week, and 74% use it at least once a month
- More than 60% of the advisors polled have increased their business use of LinkedIn over the past year
- Only 29% of advisors say that social media plays a significant role in their marketing efforts today, more than half — 52% — expect social media to play a significant role in their marketing a year from now
- More than 60% of them have used LinkedIn to gain new clients
- Of that group, 32% used LinkedIn to bring in $1 million or more in assets under management
How are these successful advisors utilizing the power of LinkedIn?
- 75% use LinkedIn to: Improve the effectiveness of their referral network
- 72% use LinkedIn to: Cultivate prospects
- 61% use LinkedIn to build their brand identity
- 55% use LinkedIn to enhance current client relationships
One thing is certain, regardless of which demographic you look at, new investor, mass affluent or HNW, they are all increasing their use of social networks, especially LinkedIn. Likewise, your competition is using social networks, especially LinkedIn, to build their practices, retain existing clients and expand their professional knowledge.
If your clients can’t find you, chances are they can find your competition, and your competition your clients.