In a professional setting, most people would agree that referrals from a trusted colleague or other reliable source are inherently more credible than ads or cold calls. That same logic applies online, and affirms the value of social media engagement.

When people in your professional network (think LinkedIn connections) share, like and comment on your news and other content, they are extending a personal referral. Except on social media, that recommendation is to a mass audience, not just one person. Of note, is that according to LinkedIn Sales Solutions’ report, 78% of ‘social sellers’ outperform peers who don’t use social media.

But herein lies the rub. The stereotype, too often accepted by those in the financial sphere, is that social media amounts to something of a frill: an afterthought or add-on to a conventional sales and marketing strategy. Yet if smart business leaders hope to reach a captive audience of consumers and prospective customers where they spend a majority of their time, it’s not possible to ignore the vast audiences social media sites attract. (read more)