If you are looking for smart ways to build your #privatebanking business, the platform you should focus on is LinkedIn.

From Fortune 500 companies to professionals, decision-makers, and senior influencers, the platform has huge amounts to offer private bankers. Yet, according to a recent banking study, 83 percent of private bankers are not using LinkedIn as a marketing tool regularly. With more than 610 million members and 303 million monthly active users, it comes as no surprise that 46 percent of business website traffic comes from LinkedIn. Moreover, the average annual take-home of 44 percent of LinkedIn users is $75,000, which is way above the U.S. national median. So, enough facts. Here are some ways we assist our private banking clients and you yourself can leverage LinkedIn for promoting your business:

Four smart ways to use LinkedIn to boost your private banking business

Write a powerful profile:

Users are looking for products and services that stand out. A powerful summary of what you offer doubles as your 24×7 personal brand. Leverage the 2,000-character or 500 words limit to tell a compelling story of what makes your bank unique. Interviewing your top clients and asking them about the value-adds your bank provides and why they chose you as their banker are ways to strengthen your summary. (We actually offer a done-for-you profile optimisation service or teach yourself on one of our webinars at The Link Tank)

Join professional groups:

Most bankers mistakenly think LinkedIn is only a recruiting tool. However, there are more than two million professional groups on LinkedIn and joining strategic groups can help you generate leads and win opportunities. Joining a LinkedIn banking group also is a smart way to stay updated on current trends in banking.

Share meaningful content:

A LinkedIn study found that information that affluent consumers were looking for related to new product information, company updates, account changes, and relevant content. By sharing relevant content regularly, private bankers can position themselves as a trusted source of financial information. With this, you would be the first person influencers and users contact when they are ready to engage.