Moore’s Law is a mathematical principle devised in the 1960s that states the number of transistors on integrated circuit boards doubles every 18 months—meaning the processing power grows exponentially. This simple principle has held true for the computer hardware industry over the past 50 years! Moore’s law has been used to predict industrial growth and productivity in many additional sectors. So how might Moore’s Law apply to social media?
In a recent interview Mark Zuckerberg (founder of Facebook) proposed the concept of Moore’s law as it relates to social sharing: The average amount of information that a person shares on social networks doubles every 18 months.
This may seem like a bold prediction until you consider how social sharing has evolved over the past decade. We started sharing online by completing public profiles. We then started posting status updates and links to outside sources. Next, we decided to share pictures (250 million photos are uploaded to Facebook daily*). Then videos. Then location-based apps allowed us to post our exact location. (More than 2,000 people check in on FourSquare every second.*) Now there are apps that share the songs we are listening to and the 10-year anniversary of being at our job. The process of sharing on social networks is becoming automated. We do it effortlessly. To quote Mark Zuckerberg, “Three years from now people are going to be sharing eight to 10 times as much stuff. We better be there, because if we are not, some other service will be.”
What you are allowed to “share” as a financial advisor may be limited right now. Compliance is trying to catch up and archiving solutions are booming. Mark my words: You will be sharing more in the years to come—both personally and professionally.
As this evolution takes hold of the financial services industry, remember that social networks are not for the shy or meek. When compliance decides to loosen its leash, don’t be a social media wallflower. What you share will shape your online persona and build your personal brand. Don’t get me wrong, “listening” on social networks is instrumental to your success, but the future of social media is about just that—being social. The social sharing wave is right around the corner for advisors. Here are a few tips on sharing:
1. Be a Detective. Your clients, prospects and COIs are sharing more information each day. Be aware of what they share, let them know you are listening and leverage this knowledge.
2. Be Mindful of What You Share. What are you posting on Facebook? Twitter? Are you providing value on professional social networks like LinkedIn? Are you positioning yourself as a thought leader? Are people responding to your posts? Also, sharing isn’t always a good thing. Keep it between the lines.
3. Find Your Social Media Voice. What you post on social networks shapes your social voice—it matters. For help with finding your LinkedIn voice, please read my previous blog entry.
* Volteir Digital & Plastick Media 2012
Kevin Nichols is a thought leader with The Oechsli Institute, a firm that specializes in research and training for the financial services industry. Follow him on twitter @KevinANichols | www.Oechsli.com