Usually, with financial organisations, social media is seen as more of a risk than an opportunity. Instead of trying to be successful, they’re trying to not mess up! While finance is a heavily regulated industry, that doesn’t mean you have to stick to dry, boring content on social media. 💻
We’ve rounded up a range of finance organisations that are winning on social media, and taking full advantage of the opportunity to engage with their audience — featuring some great points from our webinar with Adam Tuckwell of the Mobas Group! 📺
Be Transparent With Stakeholders
Social media is a great platform to communicate with customers and other stakeholders. As a financial organisation, you should provide content that will update the people that need to know, and you need to provide valuable information that your audience will find useful.
Regulatory reform will be at the top of people’s minds in the financial sector, especially when it comes to Brexit. Deloitte UK knows this and shares their article about reform after Brexit and COVID-19, which would be hugely interesting to key stakeholders who may be uncertain of the effects of these huge changes.
Creating an Overarching Social Media Strategy
Many financial organisations treat social media as an outside entity that is used to promote their products or respond to complaints. However, the best organisations are integrating all of these outcomes into one single social media strategy, that meets all of their goals while staying consistent and on-brand.
Nationwide do this perfectly. They commit to responding to customer comments 24 hours a day but also use social media as part of their marketing strategy. Sharing their corporate social responsibility actions along with a sprinkling of product promotions, Nationwide are proudly showing their customer-focused values through social media.
Tailoring Content to Different Platforms
The audience that follows you on LinkedIn will be different from the audiences on Facebook or Twitter. It’s important that you can identify the differences in these audiences, to create the most engaging content for each platform — the days of cross-posting across all your platforms is long gone!
Aldermore Bank PLC is a great example of tailoring its content. On LinkedIn, they share more content aimed at B2B audiences and internal updates, like their recent partnership with LinkedIn learning for employee development. Over on Twitter, they create more customer-focused content, just like this educational post about cybersecurity.
Could your customers benefit from a Small Business Grant? Check our Government Funding support guide for more details on what to do to access these emergency grants designed to help businesses get back on track. #BusinessFinance #grants https://t.co/Olhor8cskP pic.twitter.com/1i4i5bAn5z— Aldermore Bank (@AldermoreBank) August 27, 2020
Sharing Help and Advice
It’s unlikely that financial organisations feature highly on a user’s following list. However, the pandemic has meant that more users than ever are turning to social media to get in touch with organisations, so it’s a great opportunity for financial services to share their experience and guidance in educational pieces of content.
Not only does the Royal Bank of Scotland (RBS) outline their 24/7 customer service hours in their bio, but they also share branded advice posts that are super helpful to customers looking for advice. By incorporating both customer service and educational content, social media becomes a powerful tool for RBS to advise and guide customers through their journey.
Information for customers who have taken a loan repayment break 👇— Royal Bank (@RBS_Help) July 15, 2020
Being Entertaining on Social Media
Just because you’re a financial organisation, doesn’t mean that you just have to post industry updates and customer finance guides. Social media is called ‘social’ for a reason, and that means you’re allowed to experiment and have fun with it!
Adrian Flux is a car insurance company well-known for their black box policies, but that doesn’t mean they only talk about insurance on social media! They often share motorsport updates, relatable content, or nostalgic content, like this article from the guardian on how motorway services have changed. It’s all related to cars in some way to stay on-brand but makes for a much more interesting feed to their audience than just car insurance deals.
While regulations for the finance industry may be tight, there’s no reason you can’t have a bit of fun with your audience on social media. By sharing content that your audience connects with, you’ll grow a larger, more engaged audience that will be more willing to buy from you when you do promote your products.
Want more insight and examples of finance organisations doing great things on social media? Check out the on-demand recording of our webinar with Adam Tuckwell from the Mobas Group! 👀