Top 50 Social Media Terms All Advisors Should Know By Amy McIlwain

Thank you to Amy McIlwain of Financial Social Media for the following article:

Top 50 Social Media Terms All Advisors Should Know By Amy McIlwain

Sometimes the social media landscape can feel like a whole other planet.  It comes with its own unique etiquette, customs, and language.  If you’re an advisor just starting to explore this strange new world, or if you’re an old pro, there are always new words and phrases to learn.  To help you get all the social vernacular straight, we’ve created the Financial Social Media Dictionary (a close relative to Webster). Here’s our list of need to know social media lingo for advisors, broken down by platform:

General Social Media Terms

Authenticity: A trait which is valued on social media and blogs.  This allows consumers to get to know the real person behind your financial firm.

Compliance: Social media activity that meets the regulatory conditions set forth by FINRA and the SEC.  This includes the process of archiving social media communication.  See highlights from the latest SEC Guidance Update.

CPC: Cost Per Click.  This is how much you pay when your ad on a social site gets clicks on.

CPM: Cost Per 1,000 Impressions.  This is how much you pay for 1,000 people to see your ad on a social site.

Crowdsource: The process of reaching out online to a group of social media users for opinions and feedback.  Advisors can reach out to groups on LinkedIn, or ask questions on Facebook and Twitter to see what resonates with their clients and prospects the most.

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