A few years back, one of the first groups that I trained on how to use LinkedIn was a group of mortgage lenders. The bank was new in the area and trying to establish its name in the community. The lenders all came from other financial institutions and were looking for ways to let past clients and colleagues know where they were now working and how to get the message out about the new bank. LinkedIn was a foreign territory for them but they were willing to give it a try.
I remember the excitement in the room as each person connected with people they knew and saw the opportunities that LinkedIn held for them. As the session was wrapping up, the Regional Manager asked if other lenders were using LinkedIn. My response then was the same now.
Most bankers are ON LinkedIn, but few understand how to actually USE it to help them in business.
I wanted to test my opinion, so I sent a LinkedIn message to 18 bankers in my network asking for feedback on how they use LinkedIn. The response confirmed my theory. Twelve connections never bothered to respond to my message. Two responded that they don’t use it much and four offered up some good tips on how they utilize LinkedIn.
So here I share with you, the leading ways bankers are using LinkedIn to brand themselves in a competitive market, offer value to their connections and build relationships with clients.
- Use it as a rolodex: It can be frustrating when you want to call or email someone and you don’t have their contact information. “Use LinkedIn to find people when you don’t have contact info.” – Ed Kinney
- Do your pre-meeting homework: “LinkedIn has allowed me to focus my networking activities, especially in one-on-one situations. Oftentimes before heading out to a coffee or lunch, I will check out the connections on the person I am meeting with. In this preparation, I will often find connections in common which can be used to enhance discussions.” – Jim McNulty
- Use it to gain introductions: “I use LinkedIn before a call or meeting with someone in my center-of-influence. I try to check out who else they know to see if I can ask the contact for an introduction to someone else I’m trying to meet.” – Tom Lyons
- Post a job opening: Don’t leave it all up to HR to fill vacant positions at your bank. Share a post about a job opening at your bank. According to a report by CareerXroads, 20% of hiring is done through referrals.
- Share information that’s relevant and interesting for your network: “As I think of things to post, I write it on a post-it above my desk: our SBA data, the perks of an SBA loan, a recent article about our bank, a success story.” –Tom Lyons
- Be frequent, but focused: LinkedIn isn’t like Facebook. It has a specific, professional purpose. Incorporate it into your daily or weekly routine, but do so with a goal or strategy in mind.
- Gather background info for loan requests: “Sometimes a loan request requires a written resume from a borrower. LinkedIn makes that easy if they’ve completed their profile.” –Tom Lyons
- Incorporate it in your follow-up: “LinkedIn allows me to follow up with a lead and suddenly it becomes much more personal than a random phone call to a new prospect. For instance, after initial contact with a prospect, I link up with them so they can review my profile and put a face to a name. It becomes much more of a lasting impact. Even if the call goes nowhere, they have something to refer back to and we can continue to follow each other into the future.” – Dan Carey
- Offer your connections as their connections: “When trying to be of value to my clients and center-of-influence peers, I offer my connections as their connections. Although I am in that ‘over 1000’ connection range, I can say with confidence that I know almost everyone in my connections well enough to make a warm introduction. I think that opening my circle to others is of true value in the community.” – Jim McNulty
- Stay in touch: “LinkedIn is a great way for me to stay in touch with existing customers on new projects, etc. I can make a quick comment or ‘like’ their update to stay in touch when they have an accomplishment. I’ve found this goes a long way and it doesn’t take up 15 minutes in someone’s busy schedule with a phone call that might be at the wrong time.” – Dan Carey
- Reconnect with people: “LinkedIn is a great way to reconnect with people with whom I may have lost touch – so really a professional and no-nonsense version of Facebook.” – Ed Kinney
- Add it to your toolbox: “Use LinkedIn as a tool and it goes a long way. Use it as your only resource and it definitely can come off the wrong way to prospects. LinkedIn should be an additional tool to the still needed phone call, in-person meeting, email etc. Bottom line, LinkedIn really creates the long-term, ongoing connection.” – Dan Carey
The tips shared by these bankers can easily be used by professionals in any industry. It’s all a matter of having a plan for using LinkedIn and building it into your routine.
For those that responded that they don’t really use LinkedIn, it was for one of three reasons. They either couldn’t see the need in their position, they didn’t have the time, or they didn’t have the know-how. I welcome the opportunity to talk with you if you can relate to these issues. Let’s connect and have a conversation about how LinkedIn can help you in your career. Take a peek at my calendar and let’s schedule a call.
