Social Media Marketing Tips for Finance Businesses
November 23, 2021
People no longer go to social media just to catch up with old friends or see what their cousins have been up to. They use social media to learn about new products, brands and even local businesses.
Every business needs social media marketing, but not every business feels like an ideal fit for social media, like finance businesses.
Social media is all about building informal relationships with customers and followers. And, for financial professionals, the informal aspects of social media are the most challenging. Here are a few things financial businesses can do to make the most out of social media marketing.
7 social media marketing tips for finance businesses
#1. Focus on the right platforms
Social media is about more than just having a Facebook profile or a LinkedIn profile. It’s an ongoing process. The more social media platforms you choose to market your business on, the more work you’ll have to do.
The last thing you want is to waste your time and energy on the wrong social media platforms. To make the most of your investment, you need to know where your customer base is spending their time online.
Most financial businesses can benefit from focusing their social media efforts on Facebook, LinkedIn and Twitter, because that’s where more established people spend their time. But, if you’re targeting a younger audience, Instagram, Snapchat and TikTok are great platforms to consider.
#2. Optimize your profiles
Whether you decide to focus on Facebook or Snapchat, your financial business isn’t going to be the only one there. There’s a lot of competition, and you don’t want your social media profiles to get lost in the shuffle.
Make your social media profiles stand out by optimizing them. Here’s how:
- Be clear about who you are and what you do in your bio
- Add high-quality pictures to your profile
- Include relevant keywords in your social bio
- Add your location and hours
- Include a link to your website
#3. Create a social calendar
A big part of building an effective social media presence for your finance business is posting consistently. But, that can be easier said than done for busy small business owners who have trouble finding a free minute in their schedule.
The easiest way to ensure that you post consistently is to create a social media calendar and use a scheduling tool, like the Marketing 360® Social app.
This way, you can schedule out your social media posts for the week or even the month ahead, so if your schedule gets busy, you’ll still get your posts published on time.
#4. Provide value
Publishing social posts on a regular basis is important, but you should never post on social media just to post. If you want your social posts to actually be effective, you need to make it a point to provide value.
Share general financial tips or advice that your customers can use. Highlight products or services that your customers could benefit from. Share industry news that your customers need to know about.
Whatever you post on social media, always ask yourself, “Does this provide value?” If not, rethink it!
#5. Encourage engagement
Social media is a two-way street, and if you spend all of your time talking at your followers, you’re not likely to get very far.
Every time someone likes, shares or comments on one of your posts, it expands your reach and gets your posts in front of more people. To get those likes, shares and comments, you need to create engaging social media posts.
Ask questions, take a poll, run a contest or have a giveaway. These are just a few of the many things you can post on social media that encourage your followers to engage with you on social media.
Pro tip: When people engage with your brand on social media, keep the conversation going! Respond to people who comment on your posts, share reviews and other user-generated content on your timeline, answer your followers’ questions and more.
#6. Relate to your followers
Like I said, the informal aspects of social media can be hard for financial professionals to contend with, because they are used to being professional all the time. But, if you really want to build connections, you need to relate on a different level.
If you can create an emotional connection with your customers — whether that’s by making them laugh or pulling at their heartstrings — you’ll be able to make a lasting impact and ensure that yours is the first financial business on their minds.
To connect emotionally, tell your story, share your company’s mission and values, create content that makes people laugh or entertains them.
#7. Invest in social media ads
So far, we’ve mostly gone over social media management tips — which is the free part of building your brand on social media. But, it pays off to put a little money behind your marketing efforts on social media.
By boosting your best posts, you can get them in front of a much wider audience. And, social media platforms offer pinpoint targeting that allows you to get ads in front of just the right audience.
Every small business needs social media marketing — financial businesses included. If you need help building your social media presence, learn about how the Social Media Managers at Marketing 360 can help you get it right. See our plans at pricing.
Get Plans and Pricing Below
Get the know-how to get ahead
Get business, marketing and sales tips written by experienced industry practitioners. 100% free. Cancel anytime.