In our first webinar of 2017, we talked about social media goals for financial advisors with our special guest from Hootsuite. View the webinar below and follow along with our transcript!
As well, feel free to follow us on Twitter and connect with us on Linkedin:
Berk Dikmen: LinkedIn
Kirsten Ulveland: LinkedIn
Hi Everyone! Welcome to our January 2017 Advisors Ask Webinar: 2017 Goals for Financial Advisors, with our special guest from Hootsuite. My name is Kirsten and I’m a digital marketing intern here at Advisor Websites and I will be your host today. Today I have with me I have a very special guest from Hootsuite, as well as two members of our Advisor Websites team. With me I have Amy, Berk, and Lester, thank you so much for joining us today.
Hi everyone, thanks for joining us today.
Hey everybody, Lester here. Thanks for everyone for joining us today, we also have Amy here from Hootsuite.
Yup I'm here on the call as well, thanks again for joining. For those of you on Twitter feel free to follow along on twitter.
Our agenda for today is: First, I will be going through some housekeeping notes, then going into a brief overview of what social media actually is. After that, we’ll start answering your questions! Thank you to everyone that has already submitted questions through the Typeform that we sent out earlier. We will be reviewing and answering them during the Advisors Ask portion of this webinar. We encourage you to keep asking questions throughout the webinar through the GoToWebinar launcher and we will email you our solutions after the webinar!
To go over some housekeeping notes
- This webinar will be around 40 minutes
- This webinar is recorded and will be emailed and available through our resources page
- We encourage you to go ask questions via the Gotowebinar launcher, and we will email our solutions to your questions afterwards!
- Finally, make sure to listen in through your computer in order to avoid any long distance calls
We also have some resources available to you if you would like some more in-depth content on social media. Our ebook: The financial advisor's guide to content marketing is a great source for generating social media content ideas. And the social media section of our blog covers a wide array of social media topics.
We will now be diving into our overview of social media! Amy, would you like to get started on this?
Absolutely, and first a little bit of background about myself. My name is Amy McIlwain and I am Global Industry Principle for Hootsuite. Little bit of background I've been in digital marketing now for a little over 17 years, 10 of which is in financial services. I used to have my own digital marketing agency called Financial Social Media helping thousands of advisors set up and get their social media programs started. I'm also an expert at social media compliance, for all of those registered reps and RIAs out there, being able to help you with those. I've written a couple books on social media, The Social Advisor, Social Media: The Secret to the Financial Industry, and I speak at a lot of conferences. So I'm here to help, I've got a lot of great success stories from advisors and answer any of your questions today.
So the first question really people ask is: What is social media? So often you hear Facebook, LinkedIn, Twitter, all these different terms thrown around. But at it's core, social media is a dialogue, it is a conversation that is fundamentally changing the way we communicate. Just look at email, that only became mainstream among advisors in the mid to late 90s. That's barely 20 years ago. Where would you be today if you hadn't adapted to email? Communication is shifting again and it's happening twice as fast. It's time to get on board with these new technologies before your competitors start taking your marketing share.
Speaking of those technologies, let's take a look at the main networks that advisors are using. Some of the key networks that advisors are using are Facebook, YouTube, Twitter and LinkedIn. The way you communicate on these social networks are very unique to the network itself.
Facebook is a little more personable, here's where you want to connect with your existing clients. Here's an opportunity to connect with prospects as well, but here you really want to focus on your existing clients first. Stay top of mind when those money in motion events occur. Be human, share what's happening in your office, talk about your holiday gift giving drive, talk about things that are going around in the office, events that you might be having. You know it's really a chance to be human and connect on a personal level with your clients, because ultimately, people do business with those they know, like, and trust.
YouTube! We're seeing more and more advisors starting to do video. If you can't afford or you don't want to spend the money to do TV commercials or PR or radio, today, with social media, you can really become your own TV station, launch a YouTube channel, you know become your own radio station, and start doing podcasts, becoming more and more popular. So these are all alternative ways to get your content out there, positioning you as a subject matter expert. And with YouTube you don't need a fancy production studio, it's about being real and human. The key is you need to have good audio, but you know you've all seen Facebook Live, now in the palm of your hands you can be projecting information out there and sharing content seamlessly. So consider YouTube as a way to share video content.
Twitter, this is the one where I tend to hear more push back when it comes to advisors. How is this network where Kim Kardashian is out there breaking the internet. How is this going to help you? Well Twitter can be an incredibly powerful tool for listening, you know what's happening right now, as well as sharing timely content, and connecting with some of those people that might be harder to reach. Getting past that gate-keeper for some of these executives you might be looking to as clients. So Twitter is a way, like I said, to really listen to conversations.
A great example an Advisor saw was using Hootsuite, so Hootsuite that I work for is a social media management platform, allows you to manage all your social media, one dashboard, and listen to certain streams. One of the streams he was listening to on Hootsuite was employee buyouts, so he noticed a company in Atlanta announced 20,000 employee pension buyouts, so he took this information and created a campaign on Facebook, an advertising campaign, and he targeted people over the age of 50 that had currently or in the past had worked for this company NCR, and he simply said, were you at NCR during the 2015 employee buyout? If you want to learn more information, find out if this is the right opportunity for you click here. So he used this as a campaign to strategically target people at this company at a specific age, and you can do this by location, all sorts of things. As a result, he was able to drive nearly $12 million in new assets under management, over the next 6 months. Total ad spend: $900. Really incredible opportunity when you can be strategic, and it started with Twitter.
LinkedIn, this is a no brainer. I'm willing to bet that pretty much everyone on this call today has a LinkedIn profile. With that, I encourage you to connect with me, the other people in this webinar, because out there, everyday, we practice what we preach. We're doing exactly what we teach our clients, advisors to do, get active. When it comes to LinkedIn there's a lot of Advisors that'll tell me you know Amy, I had a LinkedIn profile, but it's just not doing anything for me. Well that's like going to a conference, or an event, and not talking to anybody. You can't just set up a booth and expect to be flooded with traffic. You need to get out and engage, interact, participate in conversations, share articles, join groups, listen and engage. Like I said, social media is a dialogue, it's a conversation. It's not just talking and pushing content out there either it's listening first, and talking second. You know if we think of LinkedIn like a conference or a trade show, your profile is going to be your booth. People are googling you and the first thing that shows up is going to be your LinkedIn profile. So you want to make sure this represents your professionally. You know you don't want to be the booth over in the corner with the plain white table cloth with a name tag, you want to build an interactive display, you want colourful brochures that tell your story. This is your chance to make a first impression, so make it a good one. Make sure you have a nice, clear headshot. Include a cover background photo. Consider your city skyline, or a photo from your office. Make sure your summary is complete. You can even embed video in that, any videos you have, if you've been on TV, any of those things, blogs you can embed, so again this is your chance to stand out from the competition, so make sure you look your best. And with LinkedIn too, this is one of the number one sites that advisors are gaining new business from. In fact, one advisor was able to double his referrals simply by connecting with his existing clients and every time they came into the office, and prepped for the meeting, he would go to LinkedIn and see what 2nd degree connections he wanted an introduction too. After the meeting, he'd simply say: hey Mr. Client, I see were connected on LinkedIn and I also noticed you know John Smith and Mary Moore, I think I might be able to help them because of XYZ, would you be willing to introduce me? And the key is you have to ask for that introduction and not the referral. But 50% of the time the client would pick up the phone right when he was in the office and make a phone call. So little things like this can have a huge impact. We're not reinventing the wheel is key, with social media were simply taking the same things that you do everyday and amplifying them to a much larger audience online.
Where to start. So where do you get started when it comes to all this? First you need to define your target audience. And sometimes I get advisors come up to me and say: ya i'm looking to reach people in or near retirement with half a million dollars in investable assets. And I say great! You and everybody else. So think what really defines your audience, do they work for a specific company are they Verizon executives, are they Microsoft executives, are they attorneys or engineers, do you work with women, so define that target audience. I've got one advisor he had a very unfortunate accident in his family and his son suffered a very bad ski accident and was left paralysed. And this brought him into a community of spinal cord injury victims. He began to see the pain and the need for help in this specific space. And so now his entire practice is focused around helping spinal cord injury victims and their families. Often times they come into large sums of money and settlements from accidents and they don't know how to handle that. So his practice is focused around helping that community as he himself and his family had been through that. So think what is your target audience.
You need to set goals, how do you know if you've arrived if you don't know where you're going. So you want to set goals and put in place key performance indicators. So instead of just having revenue goals, maybe one of your goals would be to schedule 3 phone calls a week as a result of someone you've connected with on LinkedIn, so have that be your goal, and then what sort of actions do you need to make to achieve that goal. How many outreaches will it take, what sort of research will it take on LinkedIn to find who to reach out to. So think about that, I mean 3 phone calls a week what would that equate to, because that's what were thinking too, what is the value of the client? So set some goals maybe the goal could be PR, maybe the goal is to have one article a month published in a local newspaper or the local online edition, which gives you a ton of credibility, so again thinking how can you use social media for PR, social outreach, social PR is a popular term right now, so thinking what these goals are. I recommend picking one or two to start, and focusing on those and expanding from there. Remember, you might have to come back and revaluate what's working, and make some adjustments. There's no silver bullet here, everyone's network and audience is a bit different, so you want to be constantly monitoring the analytics, that is a huge piece here is watching the analytics.
We need to start connecting. So get out there and connect. Now the thing is when you run an ad in the newspaper, on the radio station, you're renting somebody else's list. You're renting their audience for a one-time fee. Where as with social media, you're building your own audience. People are tuning into your station and you can turn that message on or off anytime you want. And it may take a little longer to build, but it's going to pay dividends in the long run. So get out there, connect, carriers, mutual fund companies, stay up-to-date on industry news, products, connect with other agents or advisors, consumers obviously you want to connect with prospective clients. Centres of influence, this is a big one; this could be media, different associations. Follow competitors, so get out there and start connecting, start building an audience.
As you're connecting, we need something to share. When it comes to social media, content is currency in this connected world. So we've got content, content, content. So this can often be a struggle, where do you get all this content? You want to start thinking of content as assets. So you might have an e-newsletter, you might have a brochure, you might have different pieces. Start to think of content as assets. So say for example, you create a thousand word white paper on social security timing. So how can we chop up that same piece of content and repurpose it in different formats, because people are listening and consuming content in different ways. So you use that same piece of content and use it in two different blog posts. An industry article that you send to the local media, you use that content and do a webinar on social security timing, you might create an infographic, a video, an e-newsletter. So now you've got the same concept that you've developed but you're now chopping it up and distributing it in multiple ways.
Where does all this content lead? But where does all this content live, is your website. Your website is the hub and the core of your online digital presence. Which is why social media, with Hootsuite and Advisor Websites, their websites really go hand in hand. Social is creating that awareness, reaching out turning strangers into consumers of your content and ultimately clients. But we need to drive that traffic somewhere, and we need a hub of this media presence, and that hub is going to be your website.
So we're just going to jump into a quick poll now, so is your current social media strategy producing leads or opportunities? Yes, no, or I don't have a social media strategy yet. About 52% of you don't have a social media strategy yet, and 32% of you said no your social media strategy is not producing leads.
At Advisor Websites, we recognise the need for websites to work in harmony with the best in-breed technology tools. This is at the core to why our website solution is positioned as a hub; all these technology tools are seamlessly connected to our Advisor Websites dashboard, making us the centre of a best in-breed technology ecosystem. Your website should be your number one concern because it should act as a hub for your entire online presence.
Whether clients admit it or not, they are building an impression of you based on your website. In fact, for most prospects, their first impression is your website. To make sure you’re making the best possible representation of your businesses, ask yourself these questions:
- is your information up to date on the homepage?
- is all of your contact information accurate? Do all your links work?
- is content on your homepage more than a month old?
- Does your website lack modern design principles?
Whether a first impression or a repeat client, your website plays a critical role in the investor’s perception of your brand. Obviously, you take great care to build trust and confidence in your brand, and your website should reflect that. In less than 3 seconds, a visitor to your website will form an impression of you, so that first impression better be strong.
Advisor Ask Questions:
Alright time to go into our Advisor Ask Questions!
Question 1: "I use Facebook and LinkedIn personally, how can I use it for clients?" - Lyn B.
Great Question Lyn: First and importantly, determine WHY someone would want to spend time at your Facebook Fan page. Create a value proposition before you start, you need to give people a reason why they should follow you. just because you have a Facebook page for your business does not mean people will want to go there.
Value could include a free download of a report for those that “like” your page. And the topic should be of interest to your target market, for example, “5 Investment Solutions for Business Owners.” Or you could announce your big client appreciation event exclusively on your Facebook page.
You should also create a page that is eye-catching. Post pictures of your last event or post your latests video, but also you want to create a Welcome page enticing for those first time visitors to “like” your page to get the valuable posts and information they will find on your page. Once your page is up, --- invite people to join you. Begin by asking current clients to connect with you and your friends.
Both clients and prospects need a message of value and a reason to go to your page and “like” it. Your “likes” will become the new referral for your business.
Next is to promote your presence on your website, in your email signature line or on your other social media sites. You want to find ways for people to remember to engage with your page. And ultimately drive people from your Facebook page directly to you or from your Facebook page back to your website to contact you. Ultimately the goal is to compel people to visit and “like” your Facebook page to find out more about you as well as providing valuable content to your fans.
LinkedIn on the other hand is a lot different, Your LinkedIn profile is very “searchable” and will likely be one of the social media channels that your prospect uses to search you and grow their confidence in your services. As Amy mentioned earlier , Be proactive on LinkedIn, share articles, share videos that you have, embedded blog post as well as engage with other people in groups or in posts.
Here are 3 steps for a compelling LinkedIn profile:
Number 1 Upload a professional headshot – One of the most important factors in building trust amongst prospects and others visiting your profile is to include a professional photo.
Number 2 - Write a compelling headline – Your LinkedIn headline is automatically generated from the job experience section of your profile. You have the ability to modify your headline to be a description of the professional services your offer, so be descriptive and speak to your audience.
Number 3 : Write an Engaging Story –. Take this opportunity to impress your referrals by writing an engaging narrative about you as a person and a professional. This allows you to give the reader information they can connect with, like your activity within the community and your profession, your hobbies and family information.
Question 2: "How do I come up with content for my social media posts?" - Brandon U.
Hey Brandon, We all know that thinking of content for your social media posts seems like a daunting task… My Recommendation is to create a calendar for the month and to follow daily themes to post content... For example Choosing themes for specific days of the week will make it easier to come up with content for your social media accounts. These Recurring themes also create consistency for your brand and give your audience something to look forward to every day. For example: Tuesday: You can do something like Tuesday tips: if you blog on a weekly basis and you can post your blogs as a status update on Facebook and call its Financial Tuesday Tips
But do keep in mind these post are most effective when you create engagement with your audience: people love giving their opinions and sharing personal experiences on social media. An easy to way to encourage engagement from your community is to ask questions. For example you can ask a question on monday like ”Where do you want to go for your next family vacation?” and then you can follow up with on tuesday for financial tips on a blog you wrote - saving for your next family vacation. As amy said earlier be Human - people want to engage with you with relatable events with their life.
In addition: Remember to keep social media fun and this is an opportunity to showcase your team. For example you can Spotlight the People Behind Your Business. Showing the human side to your business helps you make more meaningful connections with your fans. Last is you can use your post to promote your service and local events. If you are still stuck with content to post on social media: you can use it to share relevant Third-Party Resources such as news. Your audience will love that you’re bringing valuable content to them. It’s so much easier than having to search for it themselves.
Question 3: "How can I measure the success of my social media efforts?" - John T.
There are a number of ways you can measure the success of your social media, it really goes back to setting those goals and getting that upfront. So, like I mentioned before, setting a goal for the number of phone calls you received via LinkedIn, or perhaps the number of meetings you set this week, or referrals that you get. I mentioned the story of connecting with your clients.
Another great opportunity is think of any board of directors that you sit on or charities hat you're involved with, and looking up those connections as well, getting connected with them on LinkedIn. I remember the story of an advisor, he was at a networking event, and there was one guy in the group that never brought any leads and he was like alright buddy I've been sending my clients to you and I'm not getting anything in return here. So he went on LinkedIn and looked up some people so the next time they met he came to the table and said hey, you know we've been working together, and I've given you some leads and I haven't seen anything from you, however I noticed on LinkedIn that you know these four people, and I think that there's a lot that I could offer to them. And the guy kind of looked surprised and he goes really? I had no idea you wanted to meet them I'm happy to make those introductions, and for one of the ones they got in the car right then and drove them over and made an in-person introduction to one of those connections.
So again it's really thinking what your goals are. Is it to increase referrals? So how can you set those KPIs into play. Is it trying to increase media opportunities? Is it to reach out to new clients and prospects?
Question 4: "What are some social media mistakes that I should avoid in the financial space?" - Anders K.
Some of the social media mistakes I typically see, one of the biggest is when people first get on board with social media, they tend to take their offline marketing and put it into an online marketing world. That really involves is taking the same typical advertising messages and shouting them online. This is a mistake because social media is indeed a conversation, it is a dialogue, it is personal, it's not about mass blasting out messages into the social media networks. So you really need to listen first and engage.
Another mistake I see advisors doing in the financial space is simply thinking they can't do social media because of compliance. You know FINRA and the SEC have laid out some guidelines in regards to social media, they realize this is a trend it's not changing, and they've put together some guidelines to help companies embrace social media. And some of the key factors of that they classify social media into two buckets: static content and interactive content. Static content would be things like your LinkedIn profile, your website, any background images, this is considered the same as an advertisement, and it does require the same review process and approval from a principal of the agency. On the other hand, interactive content is considered the same as presenting in front of a live group of investors; it does not require pre-approval, however it does require archiving and post review. So you need to make sure you're archiving your social media posts the same way you are archiving your email, so you need to maintain those records and retention. Interactive content would be anything from your social media posts, a majority of your social media is going to be interactive, it is a conversation. Same suitability requirements apply, if it's not suitable for the entire audience, don't say it in a public forum. So if someone asks you for advice on a particular investment, thank them publically for their comment, but direct them to a private conversation. So let them know thank you, I'll follow up with you via email and we can discuss this or a phone call. So you want to take anything that is product specific and related and direct that privately to make sure that you're in compliance.
Along the same lines, you shouldn't be talking product online to begin with. What social media is about is earning trust, building relationships, earning the right for that conversation or that face-to-face meeting. Again people do business with those they know, like, and trust. So this is your opportunity to position yourself as an expert, stand out from your competitors and really earn that conversation and ultimately their business.
Question 5: "Do I really need a blog for social media marketing?" - Sarah M.
That is a very good and a very important question Sarah. Technically no, you do not NEED a blog. If you ask us though, it is a must. There are numerous benefits you can get from consistent blogging, but I’ll talk about the 2 most important social-media related ones here.
Blog posts drive traffic to your website. And we’re not talking about the traffic generated by the people who type your name or your business’ name directly on a search engine. Those people would be the traffic you already have. You need new visitors and leads in order to grow your business. Blog posts do exactly that, they bring in new visitors with the potential to become paying customers. Now, if you were to throw social media into the mix, you’d be exponentially increasing your chances to get discovered. How? Through the people sharing your posts on Facebook, LinkedIn or any other platform you’re active on. That exposes you to an audience who may have not heard of you before. If your content is good, and you have effective Calls to action in place, you should also be seeing increased lead generation. That is the ultimate goal, isnt it?
Blog posts help establish you as a thought leader: There are several reasons why people surf the web and social media channels everyday, and one of these is to find information. Imagine a soon-to-be-retired person looking for information on how to best invest his money, now if YOU could answer the questions he may have or provide solutions to his problems, he will be much more likely to buy from you or sign up for your services because of the trust he now puts in your expertise. And eventually, he’ll tell his friends about how you helped him, creating positive word-of-mouth for you. We all know what that means: more business!
We understand it can be difficult to come up with new content consistently, especially if you don’t have a dedicated marketing team. Which is why at Advisor Websites we offer integrations like marketing pro and a pre-approved periodical content library. Should you require custom content created, we have partner writers who could help with that as well.
Question 6: "How can I grow my audience on social media?" - Samantha W.
Well, Samantha, There are a lot of ways to both grow your audience and increase engagement on your social media channels. First, Before doing anything else, you should make sure you have strong profile that is complete & up-to-date. Once that’s out of the way, start by posting things. You can either share quality content posted by others OR you can come up with your own. What you post is entirely up to you, but keep in mind it has to be something your audience would find worthwhile to read, watch or listen to. I personally find asking questions on social media particularly fun and interesting as it encourages your audience to engage in discussion. It could be a great place to look for insights.
Keep in mind not all of the visitors you get will come from social media. In order to compensate, consider including links to your pages/profiles on both your website AND your email signatures. This will help drive traffic to your social pages. You could also try cross promoting your social accounts. If, say, you have a fairly large and active following on facebook, you could ask them to follow you on twitter as well.
I’d also strongly recommend joining groups your audience belongs to. Both LinkedIn and Facebook offer this feature. Talk to them, start a discussion, try to identify what they want or what problems they’re dealing with and you should start seeing results. You can always pay for advertising space as well. Whether you boost a post to increase its reach or simply create and serve ads, you can grow your audience through this approach. It’s worth noting that this is one of the more expensive methods though. These are the most effective ways I can think of. Hope that answers the question.
Question 7: "Is it worth paying for ads on social media?" - Trevor C.
Well Trevor, the short answer is Yes, but only when it’s done right. If you’re not willing to spend at least $500 a month (and that’s a VERY conservative number), you won’t see much results, or the ones you do see won’t cover your costs. I recently came across 2 studies conducted by LinkedIn and Entrepreneur.com which had some interesting information on this.
According to the studies: 63% of mass affluent consumers were motivated to take action after learning about financial products and services on social media. “The average American spends 2.7 hours every day on social media." These findings show that there’s a huge window of opportunity on social media for identifying potential customers, and in order to do that, you would need increased visibility. Paid ads are great when it comes to showing your content or whatever it is you want seen to people, but they also does require you to keep a close eye on them.
.Pay-per-click advertising, can appear somewhat daunting at first. Especially for those who haven’t tried it before. And I’ll be honest, it can get tricky. There are many moving parts involved in the process, it’s easy to get lost in the details if you don’t know what you’re doing. Once you figure it out however, there will be no denying the value it generates for your business. That is, assuming you have the time to devote a few hours every day to test, monitor, and modify your campaigns as needed. If you cannot commit to dedicating a certain budget and a few hours every day, then it's not worth paying for ads. If you still want to do it however, you might look into getting some professional help. We're launching a new service called Advisor Funnels, and this is exactly what the team there does; manage paid ads on social channels. If you wanted to get an expert opinion, we could gladly put you in touch with the team. Just let us know through the chatbox or send us an email afterwards.
Question 8: "Is there a way to manage all of my social media platforms in one place?" - Sean T.
That's exactly what Hootsuite does! As mentioned, Hootsuite is a social media dashboard, it's actually the most widely used social media dashboard in the world. We have over 15 million users, including thousands of financial services and insurance, so we have a deep understanding of this vertical. In fact this is the vertical that I lead, I lead the global strategy for financial services and help advisors to manage their social networks. So with that you can plug in your Facebook, Twitter, LinkedIn; you can post from the dashboard and it'll post to all three of your networks. You can also schedule posts to go out at certain times, or we have an auto schedule feature which allows your content to go out when your audience is most active and will be most likely to click and engage with your content, so that's a really nice feature. Additionally, it allows you to curate and find content; so you can plug in RSS feeds, you can find what's most popular and trending in your area, or around a specific topic, and share that out.
The Hootsuite platform we have a free and pro version that several advisors use. We also have an enterprise level platform, and I'm really excited today to announce that Penn Mutual is a new client on our Hootsuite Advisor, is the name of our solution for enterprises. So what that means is the functionality beyond just free and pro that a lot of the independent agents use, we have all that fun compliance in place to help make sure you're compliant. You have access to an additional mobile app that's more streamlined and feeding you content directly from your broker dealer, IMO insurance carrier, so there's a great application called Hootsuite Advisor, so I would encourage you to reach out to your broker dealer to look at this capability. Otherwise a good place to get started is head to our website at hootsuite.com and there is a free version and a pro which is like $10 a month version and you can really get your feet wet when it comes to social media.
Question 9: "How do I create a viral campaign?" - Brian D.
Well Brian I hate to break it to you: There’s no perfect formula for creating a viral campaign - but here are 3 common factors for creating a viral campaign, which include:
- Create a campaign with an emotional connection. The audience feels some sort of emotion with your campaign.
- Each campaign you create should have the Incentive to share. This could be a statement asking to share or offering a reward for sharing. A majority of people love to share a viral campaign that has an emotional connection to them.
- Make sure your campaign is easy to understand: simple message that a wide range of people will relate too - will have a higher percentage of shares.
Question 10: "I've just started using social media, how much time should I devote to social media everyday?" - Godwin O.
Hey Godwin - Social media is an ongoing, daily process. Everyday you should devote at least one hour. This is the bare minimum, and it should be just for monitoring any engagement from your audience (comments, likes, etc) so that you can respond in a timely manner. However, in terms of coming up with content, this varies. What you should do is devote a few hours every week to coming up with content. If you have 4 or 5 posts planned out for each week, this will reduce the amount of time you spend on social media everyday. Staying organised is key.
For the three main platforms, Facebook, LinkedIn and twitter - all three have different best times to post content on each channel. The best time to post on Facebook is on Thursday and Friday from 1:00 to 3:00pm. This is the best time when a majority of LinkedIn users are logging in. For LinkedIn - Tuesdays are the best time to post at 10:00 to 11am - This is the best time when a majority of LinkedIn users are logging in. And Twitter - because twitter is a bit busier than the two other platforms. The best time to post on twitter is from Monday to Friday from 12pm to 6:00pm . 1 pm has the most re-tweets, while 12pm and 6pm have the highest click through rate. You can also schedule posts in advance, and this ensures that you stay consistent with your posts which is so important! As amy mentioned Hootsuite is an amazing tool to manage all your social media platforms. The great thing is that the free plan is a great tool to get you started.
As I mentioned earlier on the 2nd question in the beginning of the webinar in you can share relevant Third-Party Resources. Hootsuite has the the suggested content that can help you automate your tweets. And as Berk mentioned you can use Hootsuite to schedule your blog post to auto populate on to your social media channels