Senior Account Manager
Posted on August 20, 2018
Is organic social marketing for financial brands essential?
Social networking has seen a rise in popularity amongst financial service brands, with more and more companies using organic social marketing to show off their brand personality, creativity, expertise while listening to what their clients are saying.
For some time now, most other industries have recognised the benefit of using organic marketing as a free tool for brand promotion. With over 59% of people accessing social media daily, and over 74% of consumers turning to social media to help guide their purchasing decisions. Why has it taken so long for financial service brands to adopt this form of self-promotion?
Could it be that the social media landscape just isn’t built for B2B financial service brands? From our experience as a marketing agency for the financial sector, we believe that there is a definite place on some social networks for financial service marketing.
How organic marketing can benefit financial service brands
Although vast amounts of rules and regulations consume the financial sector, there are ways to tailor your social marketing activity to remain professional and transparent.
From a business perspective, social media can be seen as one of the largest market research groups in the world, giving you direct access to your clients, prospects, employees and their opinions. So it’s essential that everyone in your organisation from the very top down understands your social marketing communication plan, is more than just a tool to share content.
Listed below are the top 3 ways financial service brands can benefit from organic social marketing;
- Monitoring social media is a great way to listen to what your clients, employees and even your competition think of your brand. You can incorporate a social listening tool to help you observe all of the media types that your clients are using to ensure your brand remains relevant and consistent.
- By sharing regular content as an active social brand, you can attract more unique visitors to your website, increasing traffic and the number of people you can connect with. An increase in positive traffic could have the knock-on effect of better SEO and organic visibility online.
- The more your audience sees your brand in any context, the more you become part of the natural framework of society. Of course, not all publicity is good publicity but when people are used to seeing your brand, reading your thought leadership, hearing your opinions put forth knowledgeably – you start to become a more credible and viable option to do business with.
Which social platform is best for your financial service brand?
LinkedIn – a platform of influence
Many senior-level executives of B2B financial organisations are attracted to LinkedIn because of its strong business facing presence. With the number of active LinkedIn users rising from 467 million since 2016, it is a setting perfectly framed for influence by sharing thought-leadership, commentary on industry news and connecting in discussions with your chosen demographic.
You can also use LinkedIn as a tool for attracting new talent by showcasing your company culture and values. Being proactive can help to generate positive attention from gifted individuals by presenting your organisation as reliable, fun and relevant.
Facebook and Twitter – a help or hindrance for financial brands
Because of the regulatory restrictions around financial service marketing, the public perceives financial brands as having little creativity which could prove challenging on consumer-facing channels like Facebook and Twitter.
With that being said, there are ways to develop social platforms beyond general business updates, by encouraging employees to become brand advocates through their professional accounts. Of course, everyone involved will need to follow your social marketing communication guidelines, but there are great opportunities to join wider discussions sharing advice and personal opinions, giving a human face to your brand.
These platforms can also follow the tastes, trends and personal interests of any targeted groups meaning you can collect useful data to retarget your audience with carefully tailored content.
Instagram – a picture speaks a thousand brands
Instagram probably wouldn’t be the go to choice for most financial service brands as a means of self-promotion, especially those targeting a B2B audience. But again, as with other forms of organic social media marketing, it can still have a place if carefully considered and executed well.
Instagram is a visually focused platform inherited by brands, celebrities and individuals to show off their best assets. By using this simple analogy to understand its premise, Instagram can also be used by financial service brands to build awareness and trust by painting a positive image of a socially responsible business, friendly teams of employees sharing personal moments.
The final word
In conclusion, organic social marketing for the financial sector is more than just a communication platform where people share cat photos and funny video clips with friends. It is a powerful tool that can be used to build brand awareness, authority and trust – all while keeping a watchful eye on what your audience and competition are doing.
Having a clearly defined, social marketing strategy is essential for organic social sharing success. Decide on the best social channels for your financial brand and your top business goals – for instance building a following, market research or to position yourself as an industry leader. Once you’ve set clear objectives, your social arena will become a friendlier and more profitable place.