Today, consumers spend a lot more time researching —and forming purchase decisions — online than ever before. Thisis why I'm such a big believer in social media for financialadvisors.

It's also why I'm breaking down the top social media sites foryou based on yourbusiness opportunities versus yourtime invested. I've already broken down the top four:

• #5 YouTube

• #4 Twitter

• #3 Facebook

• #2 Blogging

Now let's look at my overall No. 1 social media site forfinancial advisors: LinkedIn.

LinkedIn – My #1 social media site for financialadvisors

If you're a financial advisor, you should really consider beingon LinkedIn–and using it weekly, if not daily. It offers the mostupside for the least amount of work. (As a reminder, always knowand follow your company's policies and compliance guidelinesregarding the use of social media.)

LinkedIn opportunities

• Create a positive first impression. Today,it's relatively safe to say your LinkedIn profile is oftensomeone's first impression of you, so make the most ofit.

• Market yourself–and your brand–to yourconnections: Many of you are allowed to post and/orpublish approved content, which is a FREE and easy way to showcaseyour expertise. It also serves as a subtle reminder of your valueand how you can help clients and prospects.

• Prospect: LinkedIn's most powerfulfunctionality is its Advanced People Search. Unfortunately, mostpeople don't know where to access it or how to use it to theiradvantage. Here's a short demo to show you exactly how to useit.

• Stay on top of best practices, trends, regulation, andmore: LinkedIn's Discussion Groups offer an efficientmeans to keep informed on industry trends, regulation and bestpractices. Joining personal groups also builds your network, whichmay lead to new opportunities.

• Capture multi-generational assets: Yes,LinkedIn can help you connect with the second or third generationof your clients and begin to create relationships withthem. This four-step process may help.

LinkedIn tasks and time required

Consider working the tasks below into your schedule. I assureyou it will be time well-spent.

Weekly tasks:

1. Marketing/thought leadership: Similar tosome other platforms, it's important to share content regularly onLinkedIn. This content should showcase your expertise or value.Think about the core products/services you want to build yourbusiness around, and find or create articles that align with thisstrategy. Then share it on LinkedIn – about one article per day(four to six per week). If you're not sharing this frequently, youwon't be at the top of your Connections' news feeds when they'reusing it. To save time, consider using a scheduling tool such asHootsuite. (Time: 15-20+ minutes to find and post/schedulearticles. Additional time is needed if you are creating contentand/or need to have it reviewed and approved.)

2. Leverage and build connections: Identifyfive people your connections know but you don't. Then ask forinformation (or, better yet, for an introduction). Send aconnection request to anyone and everyone you get business cardsfrom or meet. (Time: 10-20 minutes)

3. Social selling: Just like all the othersocial platforms, you'll want to plug your products or servicesweekly. I'd suggest posting content about your products/servicesabout once a week. Your overall goal is to provide 'value-add”content, so think about what your audiences want, not what you wantto send them. (Time: 5 minutes to create/postcontent)

4. Engage with your audiences: Read your newsfeed and comment on life events (i.e., anniversaries, job changesand birthdays) and/or on others' posts. (Time: 15+ minutesto review/respond to comments, post on others articles you've read,etc.)

5. Beresponsive: Checkyour page at least once a week to stay on top ofConnection requests, questions or comments. Acknowledge bothpositive and negative feedback, apologize if necessary (yes,publicly), thank your customers and, above all, behuman. (Time: 10+ minutes)

Opportunity-based tasks:

1. Prospecting: Run or view two tothree search queries based on your target audienceand location, then leverage your “Shared Connections” to gatherintelligence, ask for an introduction or set up ameet-and-greet. (Time: 30 minutes)

2. Discussion groups: Visit one to twogroups, and review the discussion threads to pick up relevant news,trends, best practices and more. (Time: 15 minutes)

I hope this information helps you understand the opportunitiesversus time associated with LinkedIn and why it ranks as my No. 1social media site for financial advisors. It's an extremelypowerful and efficient marketing tool, so use it!

You can read more from Jon on blog.principal.com

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