5 Social Media Marketing Tips for Financial Services

“Ignoring online marketing is like opening a business and not telling anyone.”
The emergence of social media has opened a window of possibilities, we couldn’t have imagined before. You can no longer ignore the impact it has on our day to day lives. It has managed to become an integral part of all the mediums and devices that are used today for communication. That’s how businesses around the world started to realize the true potential of social media.
Social media is the interactive communication platform that, because of its reach and popularity can help a business to be on its toes – constantly.
Understanding the importance of social media on finance:
Demonetization ushered in a fiscal ecosystem that challenged each and every one of us. It was during this time of change that we, as a nation, realized the need to use online platforms for tackling and solving our financial insecurities.
Paytm, one of the most prominent financial services app was able to shoot to the topmost position thanks to its social media strategies. They not only delivered strong content through their adverts, they also knew when to deliver it. Their competitors were not able to keep up with the pro-activeness that Paytm showed in their approach.
paytm-in-demonetization

  Image Source: xorlabs.in

These advertisements became popular through Facebook and YouTube, some of the biggest social media networking sites of the world. So, if you don’t want to be left behind then you can’t ignore the importance of incorporating social media into your business.
Here are 5 social media tips that every financial service institution must follow:
Know how to engage your customers
Failing to engage your customers on social media is paying for the platform without reaping the benefits. Though a bank is judged upon its capacity to house loans, it can also be judged upon its ability to interact with its clients and keep them engaged. Needless to say, social media is an opportunity for financial institutions to build strong relations with its clients and gain their trust and loyalty. To interact with customers on social media platforms gives them the impression that they are sincerely cared for.
Always be in the game
The key role of any social media platform is to disperse information to its audience in a matter of seconds. That is why it’s important that the response time of your company must be fast – such that customers are left feeling satisfied and content. Always respond to your client as soon as you can, as a lot of customers expect real time responses. These real time responses are what keeps generating traffic to your site, as feedbacks and suggestions are what makes your customers feel that they are making valuable contributions to your organization.
Know the right time and right place
If you know that the whole world is online, then you must also know when and where they frequent these platforms. You must try to understand and learn how and where you can connect with your potential audience. Better insights about your audience, will result in more relevant posts and hence, better traffic.
Create original visual content
People cannot imagine how a financial service company can come up with something that can be visually appealing. We must break this stereotyped image they have in mind about financial entities. Instead of portraying an image of a black and white corporate, it would be refreshing if we were to come up with engaging visual content that attracts as well peaks the interest of viewers. It would be even better if you hire a professional photographer, it will help you to build your brand.
Research and lookout for prospects
Social media is a rich resource of finding relevant information, that too within seconds. These sites have made it possible to impart and access information according to different demographics. As a result, it can be useful when we are interested in targeting a specific group of people. It helps us to segment our audience according to their lifestyle, location, age, gender etc. It also allows us to access our competitor’s websites, to observe and learn how our competitors work their way and engage audiences through the world of social media.
social-media-finance-report

Image Source: Social media report for financial services 2018 according to netbase

It is the era of social media hence, it is only recommended that you become unique in your approach and know more about your client’s interests through social media. If you learn to work your way around social media, your business can do wonders. At IKF we can help you come up with the best social media strategies for your business. We are a social media marketing agency that always looks forward to delivering creative content. So, if you want your financial services to stand out from your competitors, just reach us at sales@ikf.co.in or call us on  +918888866110.