Client Services and Operations Director
Posted on April 2, 2018
We manage social channels for lots of different types of FS companies and each pose their own unique challenges and opportunities. In this blog, we thought we would turn the spotlight on Private Banks and share some of our experiences in managing social media for these types of financial institutions.
1. Be where your audience are
This is the most important of our 9 goals. Each social channel has a different audience and different audience expectations, in terms of the type of content they expect to see.
Chances are if you are in Private Banking, you are looking to engage with existing clients and new ones, who are predominantly aged 30+. Which means the main tools for you, need to be Facebook, Twitter and LinkedIn. Snapchat and Instagram have a much younger following and should be reserved for campaigns targeting a more youthful audience.
2. Set the right goals
Before you start your journey onto social media, set some goals to give your social experts something to reach for. Make sure they are meaningful and realistic.
First you need to identify what your overarching goal for using social is. Is it to increase brand awareness, or to increase your followers and stay front of mind with clients.
Simple measures are:
Engagement, which on Twitter means replies and favorites, or on Facebook or LinkedIn Likes and comments.
Amplification, on Twitter retweets or modified tweets and with Facebook and LinkedIn shares.
Followers, how many people are following you on your channels is also a good measure, but it needs to be combined with one or both of the above – as people can follow you, but if your content is of no use then they are not actively engaged with your brand on that channel.
3. Listen to your audience
As much as social can be a great tool, it can also be damaging for your brand if you aren’t listening to what your audience are saying about you, your competition or your industry.
Hootsuite offer a great free tool that allows you to monitor all of your social channels through one dashboard. And Feedly.com allows you to see what people are talking about in your industry, where you can quickly monitor what other people are posting on specific topics.
Investec SA do this very well on Twitter, retweeting feedback from clients to amplify the positive brand comments.
4. Re-purpose your content
You wouldn’t use exactly the same content from a direct mail piece in a press advert. The same goes for your social channels. People’s expectations of content on each channel differ, and you would be wise to take note of this. Save your more personal, fun content for Twitter and Facebook and post more business relevant content on LinkedIn.
Whilst you can use the same topic across all channels, the posts should be rewritten and in some instances the content medium revised for different channels.
5. Use visuals
Pictures really do say a thousand words on social.
Support your content and increase engagement by using imagery on your posts. Be bold and use video and infographic based content, not everyone wants to sit and read through words all of the time.
If the message can be broken down into a video or infographic, do it – your followers will thank you for it.
6. Make sure all activity relates back to your brand
Yorkshire Tea recently ran a great social campaign for the launch of their new ‘Biscuit Tea’ (yes it really is a tea bag that tastes like Tea and Biscuits). They had their social team responding to people’s objections and questions with witty remarks. This worked as it supported their brand tone of voice. This kind of ‘chat’ doesn’t work for every brand. So do remember your brand pillars and what your audience might expect to hear from you as a business.
7. Respond quickly
What Yorkshire Tea also successfully did, was respond quickly to comments (can you tell we’re a fan of the campaign?).
Don’t release a new campaign or piece of content and then log out of social for 2 days. Your clients may have questions, they might be concerned about something – make sure someone is monitoring your social at all times and that they have clear and compliant guidelines available to them for responding. For example, if a client complains who should they put them in touch with?
8. Test the right times to post content
And finally, in the same way you test your email blasts for time of day, do the same for your social content.
We hope you found this blog useful and perhaps your move to social media will be a little easier having read it.