The Social Banker: How to Leverage Social Media in the Financial Industry

The Social Banker: How to Leverage Social Media in the Financial Industry

Think social media and financial marketing don’t mix? You may be missing out on quite the cocktail. In compliance-driven industries it can be easy to shy away from new communications frontiers in an abundance of caution.

Everyone has undoubtedly experienced social marketing from their favorite food brands, TV shows, and Amazon Prime purchases (after all, no one is immune to a good late-night Prime binge). But, outside of big banks, the financial sector seems to trail behind the trend. And trust us, people want to hear from their banks too!

So, how exactly can your brand get a leg up on social? Here’s a few key ways your bank or credit union can cash in on the potential, pun intended:

Consumer Branding 

Think of the nature of the medium – posts from friends and family, conversations, and pages all appear in the same space. This means your page posts will likely appear next to photos from uncles, nieces, college roommates, and peers. This is a perfect time to humanize your brand and establish yourself as an informational authority. Offer consumer interest blogs about building savings, how best to establish credit, and other common financial issues that are relevant to your consumers. While you may not be able to provide investment advice, your community will value your down-to-earth insight on common financial topics that affect their every day life.

Don’t be afraid to talk about your products too! While social media is designed to be more conversational and less “push” advertising, this is still a great opportunity to relate your more consumer-targeted product offerings to your growing social audience.

Employee Branding

Part of humanization is adding a “face” to your brand through messaging and tonality of content. Sometimes a literal face is called for too. Introduce key members of your team through features, blogs, and other rich content whenever you can. People look to buy from and listen to other people – if your commercial lenders, mortgage originators, and branch managers talk about offerings through their own words, that personality bridge can be drawn.

Community Involvement

Are you involved in your community? Show it! Showcasing sponsored events, volunteer work, and other general community interactions are a great way to relate to your customers and establish yourself as a positive face in your community. Photos, videos, live streams, and news articles on these initiatives often provide brands with great traction in the social sphere.

Human Resources

On more professional platforms such as LinkedIn, HR professionals can use the networking power of social media to source job applicants and vet potential recruits. Maintaining an active presence on these networks can allow you to showcase corporate culture and even directly post listings to receive more qualified candidates. With most working professionals a click of a button away, your bank’s presence can make the recruiting process a breeze.

 

Want to hear more about how to leverage social platforms for your financial institution? Drop us a line: info@rdwgroup.com

is a Social Media Strategist at RDW Group. Living his career on the digital frontier since ‘poking’ was social currency, he is ever on the pulse of the integrated mindset. If not at his desk, he can be found two-stepping to some mean house music or gorging spicy tuna rolls.

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