Here’s a hard truth: Likes, shares, and followers don’t pay the bills. Yet, as social media becomes the go-to marketing tool for brokers, many are falling into the trap of mistaking online popularity for real business success. Broker coach Jason Back is here to set the record straight, warning that the glow of social media attention can often blind us to what truly matters—tangible outcomes.
In a recent eye-opening episode of Business Accelerator, Back joined Broker Daily director Alex Whitlock to dissect why engagement metrics like likes, views, and followers can be deceiving. While these numbers might make you feel like you’re making progress, they often fail to translate into actual clients or revenue. And this is the part most people miss: Social media is great for creating awareness, but it’s just the starting line, not the finish.
‘Attention is not proof of value,’ Back emphasized. ‘Likes, comments, and views might feel good, but they don’t guarantee commercial success.’ He pointed out that many brokers treat social media as a magic bullet for converting clients, when in reality, it’s more about building awareness than closing deals. The real challenge? Moving clients from consideration to decision—a step that requires more than just flashy posts.
But here’s where it gets controversial: As brokers scramble to stand out in a crowded digital space, some are resorting to extreme tactics—think bold, attention-grabbing statements that border on ‘rage bait.’ While this might get you noticed, Back questions whether it’s worth risking your credibility in an industry built on trust and relationships. Do we really want to be the clowns of the financial world, or should we focus on being chosen, not just noticed?
Visibility without conversion, Back warns, is a double-edged sword. It might inflate your confidence, but it also masks underlying weaknesses. So, what’s the solution? Position before you post. Brokers need to define what they want to be known for—not just post for the sake of posting. Neutral or generic content might get you likes, but it rarely wins clients. Instead, authority is built through consistency, predictability, and a clear, repeatable message.
‘It’s not about how much you post or how often,’ Back explained. ‘It’s about your key ideas and the positioning you’re willing to stand by.’ By being clear about your voice and message, you become predictable—and predictability breeds authority.
However, consistency alone isn’t enough. Brokers must also back their claims with proof. But here’s the twist: Proof isn’t just about credentials or success stories. It’s about demonstrating how you think, make decisions, and solve problems. Content that reveals your judgment, trade-offs, and reasoning can be far more compelling than surface-level outcomes.
‘Thinking should go beyond just saying, “I helped a client and got a great result,”’ Whitlock added. ‘I want to see the evolution of your thinking. Show me how you approach complex problems.’ This isn’t a one-size-fits-all approach, but for those who master it, the reward is becoming an authoritative voice in the industry.
There’s no quick fix in social media. As Back puts it, ‘There’s no single post that turns the tap on. It’s a process.’ And with increased scrutiny on how finance professionals promote themselves online—highlighted by the MFAA’s recent guide urging brokers to review their social media practices—now’s the time to get it right.
The MFAA has also called on regulators for clearer guidance on the Best Interests Duty, submitting nine recommendations to ASIC to improve its upcoming Regulatory Guide 234. Is this enough to navigate the legal and ethical complexities of digital marketing? Or are we still flying blind?
Thought-provoking question for you: In a world where social media can make or break your reputation, how do you balance standing out with maintaining credibility? Share your thoughts in the comments—let’s spark a conversation!
For more insights from Jason Back on mastering social media, check out Broker Daily’s Business Accelerator podcast here. And if you’re curious about what new aggregators need to succeed, dive into this related article here.
