For brokers, savvy traders and fund managers: the trend is your friend; don't fight the tape.
That said, when it comes to regulated industries, this compliant author reminds you: bears and bulls profit; pigs get slaughtered.
For those that have been following this blog on a regular basis, you know that we've dedicated many posts over the years to the topic of social media, and that we've profiled various strategies used by various brand marketers across various industries.
More recently, and because this author frequently resides at the intersection of Madison Ave. and Wall Street, we've poignantly observed the social media initiatives (lack of, poorly executed, and best execution) demonstrated by financial service industry players.
There's an increasing number of expert observations on this very topic (see links below), and illustrative of the need for smart thinking, its interesting to note that social media czar Neil Edwards, the serial entrepreneur and former CEO of mobile game maker Cellufun, has recently switched gears; he's now offering expert social media guidance to major banks, brokers and fund managers.
Perhaps the most resonating recent observation extracted from a March 8 article in Financial Planner:
"..But many in the industry still find social media as an effective way to connect with and enhance their relationship with clients. At the recent TD Ameritrade Conference in San Diego, Christopher Van Slyke, a partner and co-founder of Trovena, LLC, spoke about how Facebook has been a boon for his business.
“Why is Facebook the third largest nation on Earth,” he asked the packed room attending the Social Media Bootcamp run by Marie Swift of Impact Communications. “It’s not what you know, it’s who you know. Facebook allows you to leverage who you know. If your business is relationships and your relationships are better because of social media than it has helped.”
editor note: this article profiles the planned social media initiative by SecondMarket, the electronic exchange platform facilitating the trading of non-public shares in companies such as LinkedIn, Facebook, Twitter, FourSquare, etc ...Yet another story from today's WSJ profiles the initiatives of online poker casinos that are gearing up again to help win the legislative battles that are brewing in states from Nevada to New Jersey..
If they were really smart, they'd call Neil Edwards before doing something that might backfire..
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