Posted on November 7, 2016
Using social media to broadcast your brand’s identity and boost traffic is nothing new to marketers, but within the financial sector, confident and creative social media use has taken longer to catch on.
This isn’t without good reason. The financial services industry have vast legislation, regulation, and compliance considerations to navigate, as well as added complications like data protection and privacy. It’s understandable that marketers have held back.
However, although it may seem harder for the financial sector to take advantage of social media trends and strategies, it’s becoming increasingly vital to find ways to overcome these hurdles in order to stay current and freely engage with the millennial generation.
Progress is positive and encouraging. Social media is now becoming a key marketing ingredient for the financial services industry with firms reporting a 31% year over year growth in their social marketing.
So what’s helping?
A real turning point seems to have come with the improvement of social media tools and marketing platforms. Although we still refer to them as ‘automation’ tools, they now offer much more than simple automation. The right tool can help you monitor and scale the success of your campaign activity, identify and track influencers in your field, and schedule your posts all from a single location.
These tools not only save time, but they also add a flexibility and strategic element to social media campaigns that just wasn’t available before. By giving marketers more control, financial communication and compliance hurdles are easier to accommodate and work around more creatively, and it’s simpler to learn by doing.
Bigger and more exciting social media growth is now possible because you can plan ahead and track what works and what doesn’t, targeting and refining your approach to achieve the very best return for your time, effort and your marketing budget.
What automation tool should I use?
As a marketing agency for the financial services industry, we’ve come across the good, the bad and the ugly of marketing tools.
Here is our pick of the best automation tools available that no forward-thinking financial service marketer should be without.
Hootsuite is a cost-effective social media management tool used by over 10 million professionals worldwide. It helps you to manage multiple social networks all on one platform, saving you plenty of time to think up nifty ways of connecting with your audience.
Our favourite features:
- Hootsuite lets you schedule an unlimited number of messages across all your social networks. To make it easier, the interface is organised into handy tabs, allowing you to divide a user’s engagement activity into social network streams.
- You’ll find it simpler to start and join in more conversations with your clients and customers. You can monitor when people are talking about your brand online and listen to what they are saying about your competition.
- Hootsuite makes it easy to track and scale the success of your campaigns, so you know what’s working and what needs improvement.
- HootSuite’s vast directory is unique amongst its kind, giving you access to over 100 apps like YouTube and Salesforce. This makes it possible to monitor social networks and sites that are not on your default list.
Oktopost is a B2B social media management tool focused on helping businesses generate new leads. This platform allows you to arrange and categorise your social media content more quickly and includes the use of a B2B social media editorial calendar which is great for visual scheduling and can be used company-wide.
Our favourite features:
- Oktopost’s queue functionality allows you the flexibility to focus more of your time on creating compelling content. As you add posts to your calendar, they are automatically scheduled and allocated timeslots.
- With Oktopost, you’ll get in-depth analytics, easily viewed from the Attribution dashboard. This will help you track and understand your social media campaigns and see how they are impacting your sales funnels, as well as giving you valuable insight into how your content speaks to your audience on a wider scale.
- The internal social sharing system lets you set up automatic emails to employees, alerting them of the new content ready to be distributed.
- You can create live monitoring streams that track keywords, mentions and company pages. This helps you to get involved in relevant social conversations, reply to customers, and get inspired by industry influencers.
Socedo is simple yet powerful prospecting tool that connects Twitter with LinkedIn, allowing you to send automated messages to each. Its clever interface and editable search criteria lets you target your connections by a particular industry or even job titles, and uses real-time social behaviour to qualify leads.
Our favourite features:
- Socedo uses social signals to qualify prospects based on the criteria you have set. This means you can catch lost prospects by targeting specific keywords, adding them back into an automated workflow.
- Whether your company uses a Hubspot, Salesforce or Marketo CRM, Sodeco allows you to sync new leads to these systems so you can track and follow all user activity to improve your social media campaigns.
- Personalised messaging and A/B testing helps you see which messages are doing better than others.
- When you export your leads’ contact details, Socedo gathers any additional available information like email addresses, phone numbers, company name, etc. and can also monitor the social activity of your existing contacts.
A final word
With so many different social media automation tools available, it can be hard to know where to invest your energy. Our advice is always to focus on what your financial services brand most needs to improve and to set specific goals. The tools that offer the best solutions and strategies for meeting those goals are the ones you need, and the ones most likely to give you great results.