It’s the newest rage on LinkedIn. You may be wondering, should I start up a financial advisor LinkedIn newsletter to promote myself as a wealth manager? Wait! Before you do that, in this article we’ll discuss the pros and cons.
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What is a LinkedIn newsletter, anyways?
Let’s start with the basics: what is a LinkedIn newsletter, and how do you create one?
A LinkedIn newsletter is a long form article that is disseminated to a certain group of subscribers within your following. Those followers are then notified immediately that the newsletter is live.
LinkedIn newsletters are the newest publishing tool. You used to be able to write an article on LinkedIn, and get a ton of views. However over the last few years, articles have become downgraded in the algorithm. It seems like LinkedIn pushes articles down and doesn’t serve them up to many of your followers.
LinkedIn newsletter vs. LinkedIn article or posting
An article or newsletter on LinkedIn is different from a straight up post. A post is a snippet; it’s short form content with limited characters. An article can be long form content, almost like a mini-blog.
But anyways, now that it’s hard to get high views for your articles, what do you do if you like to publish long form content on LinkedIn? A few years ago they started this LinkedIn newsletter feature, and only offered it to a few people with mega followings. However recently it has become rolled out to us “mere mortals.”
Basically, when you publish a LinkedIn newsletter, it appears in the feed of everyone who was invited to subscribe to it, and who accepted. They receive a notification that the newsletter was published (either in-app, by email, etc.), and they may also see it in their feed.
In contrast, a LinkedIn article only gets seen by whoever happens to be scrolling in their feed at the moment.
It’s not thaaaat different from posting something on LinkedIn, except that it’s given special visibility by those who have elected to follow.
Now let’s talk about whether or not a LinkedIn newsletter is a good idea for financial advisors.
The pros and cons
There are several benefits to starting up a LinkedIn newsletter if you are a financial advisor.
- Your subscribers will receive it directly instead of potentially missing your content, which can easily get lost in the crowded newsfeed
- You get feedback directly from your subscribers. It’s clear who liked, shared, or commented on the financial advisor’s newsletter on LinkedIn.
- Unlike an email newsletter, there is a network effect. If ten people in your following share the newsletter with their followers, there is much more visibility – potentially of exponential magnitude, depending on who sees it and whether or not they share it. This stands in contrast to an email newsletter where a reader is likely to share it with a few people at a time.
- It may help to amplify your status as a thought leader, especially if you write your newsletter on a specific topic where you have high expertise, or write for a niche.
However, there are a few drawbacks.
- Most financial advisors are so busy running their wealth management practices that they don’t have the time to publish content regularly. The ones that do have time to do this are already booked up with having to regularly write a blog, email newsletter, etc. Most financial advisors are struggling to keep up with their content schedule to begin with – adding a LinkedIn newsletter to a financial advisor’s task list is likely to overwhelm.
- Most retired people are not on LinkedIn, and most financial advisors want to work with retired people because they tend to have accumulated more wealth than the younger generations. LinkedIn newsletters for financial advisors who focus on retired people have limited utility. It doesn’t mean there aren’t opportunities to develop relationships with centers-of-influence who may send you high net worth referrals, but the direct to consumer model is a bit weak for wealth managers targeting retired people on LinkedIn.
- It may cannibalize your views. If you have a regular following of people who enjoy your posts, they’ll see your content when you publish into the news feed. Those same ideas will probably be the core of your newsletter. You may lose followers to either the newsletter or the news feed because it may be overkill for them to be reading both.
Are LinkedIn newsletters worth it for financial advisors?
As you can tell, I’m not the biggest fan of financial advisor LinkedIn newsletters. But don’t let my bias sway you. Here is an objective way to look at it.
If you can consistently publish new, fresh content in your LinkedIn newsletter that won’t take away views from your regular newsfeed, and is of quality high enough that it may attract new viewers to your following, why not?
However I want to emphasize:
- You must publish regularly (daily, weekly, monthly), etc. and stick to it.
- Your financial advisor LinkedIn newsletter content can’t be the same as your other LinkedIn postings. Make it worth their time to read – don’t have it be the same old crap that overloads the rest of the LinkedIn feed.
- Time spent writing your newsletter won’t take away from other successful content publishing that you may be doing (blogs, etc.) to the detriment of your business
Can anyone create a newsletter on LinkedIn? Yes. As of April 2022, the ability to create a newsletter is extended to all users of LinkedIn.
You don’t have to be invited to subscribe to one – you’re are able to be given access to someone’s newsletter just because you want to read it.
Here’s how to get a kicka*$ LinkedIn newsletter
If you’re a financial advisor looking to publish a LinkedIn newsletter that smashes, remember the basics.
- Emotional-evoking title
- Make sure you give it a catchy name
- Use infographics and images as much as you can
- Focus on what your audience wants to hear about and what they’ll engage with best
- Stick to your publishing schedule
What’d ya think of my financial advisor LinkedIn newsletter blog? Was this helpful?
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