Building and Engaging Your LinkedIn Network
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User engagement is up on LinkedIn. How can you capitalize on it? Here are six steps to cultivate a LinkedIn network.
With shifts in other social platforms, LinkedIn has recently seen a surge in user engagement1. While LinkedIn once seemed like little more than a resume and a Rolodex, that perception is changing. So, how can a financial advisor focused on a niche capitalize on this increase in engagement? Note: This article assumes you have basic knowledge of LinkedIn.
- Determine your purpose
Clarify your objective for using LinkedIn. Are you aiming to cultivate a network, or do you view the site as a direct marketing channel? Understanding the distinction is essential.
Building a network is about genuinely connecting with people, consistently adding value through the content you share on LinkedIn, and actively engaging with others by commenting on their posts. With this approach, there’s no immediate push to convert contacts into clients; instead, it’s about building a long-term reputation and goodwill.
In contrast, direct marketing is characterized by those who send a connection request and promptly present a call to action. Some might share a helpful resource, while others immediately ask to schedule a call. This method often becomes a numbers game, with many utilizing automation systems to streamline the process.
Neither approach is inherently superior. But clarity about your chosen strategy is vital, as it influences your LinkedIn tactics. For this article, I’ll assume fostering a community is your primary aim. I’ll delve into a direct marketing LinkedIn strategy in a future piece. Now, let’s explore building and engaging your LinkedIn network.
- Update your profile
Two key factors determine whether someone will accept your invitation: the content of your message and a quick scan of your profile for relevance. Before initiating an outreach campaign, update your profile to make it obvious what you do and who you do it for. Your profile should not be a summary of all your experience like an online resume. Instead, it should have a similar purpose to your website, describing who you help and how you provide this assistance.
At a minimum, update your headline, banner, and “about” section to remove any doubt about what you do or whom you serve. By doing this, when you request a connection, you’ll appear more relevant to the individual you’re trying to reach, increasing your chances they’ll accept your request.
- Launch a LinkedIn newsletter
The next step is to launch a LinkedIn newsletter to distribute your content. A common objection I hear from advisors is that many prospects in their niches don’t actively engage with LinkedIn beyond making initial connections. This is where the LinkedIn newsletter comes in handy.
Whenever someone connects with or follows you and you have a newsletter, they automatically receive an invitation to subscribe to it, helping you grow your audience. You can repurpose the content you’ve already created for your blog. Plus, when someone subscribes to your LinkedIn newsletter, they get it delivered to their email. This ensures that even those who aren’t frequent LinkedIn users can easily access your content.
- Develop a connection message
When you’re ready to launch an outreach campaign to proactively grow your LinkedIn connections, decide on the message you intend to send. Finding the most effective approach for your niche will require some experimentation. Be genuine, steering clear of overt sales pitches and explaining your reason for wanting to connect. Merely stating that you “are looking to broaden your network within the [niche] community” can be all it takes to encourage people to connect.
- Connect with a strategy
To grow a meaningful network, go in with a solid connection strategy. Naturally, initiating connections with individuals you know personally and who belong to your niche is a no-brainer. But what do you do once you’ve exhausted this list to continue expanding your network?
Set a goal of sending out 20 to 25 connection requests daily, but don’t send more than 100 in a week to avoid violating LinkedIn’s vague connection limit restrictions.
Set yourself up for success by inviting those most likely to accept your request. Investing in Sales Navigator can ease this process. Here are two strategies:
Connect with second-degree connections
Explore the connections of your first-degree contacts linked to the types of individuals you aim to connect with. For example, to expand my connections within the independent RIA community, I might target the connections of influential figures in that domain, such as Michael Kitces, Bob Veres or Bob Huebscher.
This is not the same as merely searching all second-degree connections. For instance, you might be connected to a graduate school classmate, but they may not be associated with your niche. Connecting with their connections would be a waste of your time.
If you have Sales Navigator, you can use the “Connections of” filter along with other appropriate filters to narrow down to the best possible list.
Connect with active users
Connect with individuals who are frequently active on LinkedIn. Identify these active users by observing who engages with posts from individuals you follow. Alternatively, Sales Navigator offers a feature to filter for users who have “posted on LinkedIn in 30 days.”
These active members are more inclined to accept your connection request and, once connected, likely have extensive networks you can tap into using the previously mentioned strategy.
- Participate
Finally, to maintain momentum with your network, be active on the platform. Beyond sending out your newsletter, create additional posts at least a few times a week. Also, engage by commenting on others’ posts or sharing their content.
The objective is to consistently remain visible to your network and convey your expertise, reinforcing your position as a thought leader in your niche.
Final thoughts
LinkedIn can serve as a powerful marketing tool for advisors to reach their niche and develop their reputation as a thought leader. The key is to have a focused strategy to build your network and stay engaged. When it comes to any social media, it’s not the platform but the strategy and sincerity behind it that yield results. So, as you embark on or refine your LinkedIn journey, keep these steps in mind, and watch your niche network grow and flourish.
Kristen Luke is the author of Amazon best-selling book, Uncomparable: The Financial Advisor’s Guide to Standing Out Through Niche Marketing. Eligible advisors can request a free copy at OnNiche.com/book.
She is also the president of Kaleido Creative Studio, a marketing consulting firm that specializes in helping Registered Investment Advisors develop niche-based marketing strategies through their OnNiche™ process. Connect with Kristen on LinkedIn.
1 https://www.bloomberg.com/news/newsletters/2023-08-22/linkedin-user-engagement-is-growing
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