Most brands now know that social media is a great way to bring their personality to life and build relationships with customers.
Financial brands are no different – but there are some interesting nuances in this sector. Here’s why social media is so important for financial organisations today…
Finding new customers
Now that Millennials are reaching the age where they need financial products, brands are redefining their strategies to reach them. This audience is massive on social media and use these for information-gathering before they buy, as shown below.
Talking to your customers
Facebook and Twitter have become hugely important channels for customer service. By quickly responding to issues, apologising for errors and publicly making it up to unhappy customers, you’re showcasing your service and reassuring both current and potential clients.
Source: Blue Fountain Media
Understanding new trends
By running surveys and data analytics you can uncover changes in attitudes, interest and needs. That will help you design new products, acquire customers and nurture existing relationships. You might even get to the point of following customers’ life events – buying a home, getting married – so as to offer helpful products at the perfect time.
Investment company Charles Schwab is very active on social networks in promoting its brand– it’s achieved more than 160,000 likes on Facebook by providing helpful advice around investment, planning and retirement.
JP Morgan on the other hand, chooses to separate its Facebook profiles into different services, while on Twitter, with 340k followers, it provides news and changes to its offerings.
Be more human
Although finance has a reputation for being ‘dry’, social media is helping to fix that. With interesting content and a friendly tone of voice, brands can seem more human.
Financial organisations that are successful on social media understand their audience and what interests them, and shows their expertise through useful content, not sales messages.
If you would like any help with your digital offering, then contact Speed Agency today or call 01832 280032.