4 Reasons for Investment Firms to get Social
Companies / Social Media Nov 07, 2017 - 06:14 PM GMTBy: Submissions
Social media platforms have opened up the world. These computer-mediated technologies facilitate the creating and sharing of information, ideas, career interests, and other forms of expression amongst people anywhere. These outlets are popular with private users as well as businesses and governments. The financial industry also is joining the social media movement.
Financial and investment firms use various platforms to reach huge audiences of potential clients as well as maintain contact with current customers. Some companies, however, seem to have more success at informing and connecting with clients than do others.
Social Media 101
Even if firms use one or more social media platforms to share financial information, they may not be aware of all the options available to them. Whilst some outlets lend themselves to photographs more than words, novel presentations of information can make almost any social media application appropriate for financial information. There are many applications of social media, but some rise to the top of the list in popularity.
- Facebook and Facebook Messenger
- Google+
- Tumblr
- YouTube
- Snapchat
These sites, along with a few other highly popular outlets, have more than 100 million registered users. For investment firms, this vast of an audience is worth tapping into with creative campaigns. Certainly, financial businesses need to ask important questions and understand this particular platform, but staying informed is good acumen for all industries. Here are four reasons for financial firms to get the creative juices flowing and weave social media into the marketing mix.
Instantaneous Responses
By their very nature, social media outlets allow financial firms to react to the latest news and trends directly, in real time. An example of this is using reactive marketing to launch personalised offers. Doing so shows attention to and caring for fans and followers. Firms benefit from a previously unavailable insight into exactly who is interacting with them. In other words, they get a clear picture of their target audience.
It’s Good to be “Liked”
In an age that worships innovation and everything new, important fundamentals can be easily overlooked. However, returning to basics is not just a decorating trend. It can work well for financial businesses, too. For example, companies can benefit from asking “What do people want from a financial firm/bank/investment advisor?” The answer may come from a social media outlet right before their eyes—one such as Facebook.
Companies can use social media to both gather information and incorporate answers they receive into their operations. Firms can use Facebook to offer basic customer service and engagement. A “like” button demonstrates that customer opinions matter. Wider social strategies could include a 24-hour social media customer care team and a banking application that allows customers to open an account using Facebook.
Engaging with current customers and potential clients, however, need not be as complicated. Success can come with social media platforms through being readily accessible to customers. Truly listen to what they say, offer personalised replies, and incorporate valid customer feedback into content development and marketing strategies.
Stay Connected
Social media outlets give financial businesses an opportunity to let their knowledge and expertise work for them. They can use social profiles to offer ongoing bits of information and advice. Doing so can help create positive brand perception. In addition, investment firms can research influencers and create opportunities and conversations with them and with key customer populations. Social platforms are useful at every level of operations.
- Customer support
- Education
- Interest building
- Acquisition
- Aftercare
With a solid, integrated social media plan, British financial companies and British investment firms can put their brand front and centre every step of the way.
Play Games
Most people like to play online, especially on social media. Businesses can try for success by making work seem like play. By employing a game-based strategy on social media platforms particularly well-disposed for that sort of activity such as Twitter, YouTube, and Facebook, financial companies can humanise what seems to many people to be a difficult, inaccessible industry.
Using animated characters, for example, to offer advice and tips through a series of fun challenges is an effective way for investment firms to educate an audience as well as validate their authority. The point is for financial firms to become more available and transparent to both current clients and potential customers. Making clients feel comfortable is good business for everyone.
© 2017 Copyright Steve Baker - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.
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