With many firms now ramping up efforts to develop a presence on social media, how will you know which social-media platforms can best be incorporated into your practice?

Social media, says Lowell Brown, a Toronto-based social media advisor and CEO of Going Social, has been hailed as the next great difference-maker for financial advisors. Before you can catch the social media wave, you should understand the strengths of the various social-media platforms.

“Each of the platforms is very different,” Brown says, “because the people who use the tools use them in very different ways.”

So what should you know about each of the platforms before you start crafting a message? Brown offers these tips. (Just remember to check with your compliance department before implementing a social-media strategy):

> Think of Facebook as a business tool
No longer a platform for sharing pictures of wonky late nights out with your friends, Facebook has recently become the tool of choice for many businesses because of its improved business-page platform.

The new platform improves your visibility and allows you to engage directly with your clients. Setting up a business page improves the likelihood people who “like” your page will see your update. That, Brown says, can help you maintain closer relationships with your clients and increase your visibility to prospects.

Brown recommends making one or two posts per day.

> Twitter to get to the point
With much less real estate to play with, Twitter requires that your posts be short and to the point. They also have a short shelf life.

You can post anywhere from eight to 10 times per day, Brown says, without alienating any of those within your network.

Twitter, he adds, is like an all-news radio station that frequently updates breaking news. Keep that in mind when posting and reading others’ tweets. It can quickly give you a gauge of what is happening and what people are talking about.

> LinkedIn is more than a resumé
Once regarded as a job-seeker’s page, LinkedIn is much more. Use it as a professional platform to help you build credibility and share your resources. Visitors to your page can see who has recommended you and you can use it to arrange virtual introductions to potential clients.

While LinkedIn doesn’t have the promotional space of Facebook, it offers the ability to create company pages that can help you connect with your clients or prospects.

> Consider the next big thing: Pinterest
The next social network that could help you build your business, Brown says, is Pinterest.

The photo-sharing site, on which users “pin” images they find interesting, is being embraced by businesses as an effective “virtual storefront.” It could become an effective way for you to promote, for example, instructional videos you have posted on YouTube.

“Pinterest,” Brown says, “is the fastest-growing social network yet.”