Social Media in 2020: How to Meet Changing Expectations

Social Media in 2020: How to Meet Changing Expectations presentation for CFA Society Toronto

In the midst of a pandemic, businesses of all sizes had to make drastic changes to their business models to adapt to the new reality of quarantine. Owners, entrepreneurs, and marketers quickly pivoted to reach their target market in new mediums and new digital channels. While the focus in the media was on retail business, financial services needed to embrace digital strategies to stay relevant.

In the early months of the coronavirus pandemic, social media usage increased by 32% in the USA.

In a virtual presentation for the CFA Society of Toronto, we explored the changing expectations of an audience with pre-existing digital inclinations and those who were rapidly adopting new behaviours online. Simply put, without in-person interaction, financial professionals were reliant on social media to connect with their clients.

The key to success for the CFA Society was to embrace social media without it feeling like a chore. Instead of focusing on complex content creation, these financial advisors should play to their strengths — helping clients, providing sound advice, and guiding customers to make good investment decisions. Instead of becoming a blogger, these professionals just needed to be comfortable participating in conversations.

For business professionals who are new to social content creation, the key is to spend time learning the platforms before attempting to make content.

And once the foundation for success has been laid, newly digital professionals can make social media a ritual in their business operation. The transition into a thought leader doesn’t occur overnight, but with a step-by-step approach to learning and participating in digital communities, content creation that can drive business results is possible.