10 Social Media Dos & Dont's For Financial Services.

10 Social Media Dos & Dont's For Financial Services ...

It’s no secret that financial and insurance sectors need to tread carefully when considering their brand’s digital marketing strategy, especially when compliance and FCA guidelines have to be strongly adhered to.

With this in mind, Julie Venis, content PR and social media executive, has put together her essential top tips for financial and insurance brands on how to broach the subject of social media.

From the importance of non-misleading messaging, to establishing a tone of voice that will convey your brand’s personality, these ten considerations will help to define social media best practice, specifically for those working within the financial and insurance industry.

There really is no shying away from the topic: and as consumers increasingly expect to be able to find and engage with brands online, social media is no longer a nice-to-have. Here are a few points to consider before including it into your brand’s marketing strategy.

Do:

  1. Stay FCA compliant – the content you share online can be found and read by people outside your original target audience, so make sure all your messages are fair, clear and not misleading.
  2. Choose the right platform(s) – every social platform is different and deciding which one is right depends on your brand, business objectives and target audience.
  3. Give your brand a personality – listen in to current conversations to understand what people are interested in. Establish your brand’s tone of voice to proactively deal with each type of conversation.
  4. Consider your target audience – less is more. Fewer, but highly relevant postings to a narrow target audience will return far greater benefits than multiple posts across a large, uninterested group.
  5. Practise – keep going if you don’t receive the desired results immediately. Make small changes at every step of the way: sustained activity will be more beneficial in the longer term.

Don’t:

  1. Jump in at the deep end – Define your goals: attract new clients, engage with existing customers or encourage more people to sign up to your monthly newsletter? Once you know, establish your base line against which to measure all future activity.
  2. Consider social in isolation – your social activity should be a part of your overall marketing strategy. Make sure that all activity is aligned and supports your brand.
  3. Overlook other social media channels – other than Facebook, Twitter and LinkedIn, other platforms could be relevant. Consider YouTube if you have a great way to bring financial planning to life using video or Instagram for creating effective imagery.
  4. Forget to track your activity – use free platform tools such as Google Analytics to measure performance. You may need to do some extra work by tagging destination URLs with specified tracking parameters.
  5. Ignore online advertising – consider paying for sponsored content or Google AdWords to promote a great article or infographic to potential new clients not currently in your circles.

When done right, social media can enhance customer relationships and extend brand reach. By trying out different things, financial planners will quickly realise how social media can make a real difference and drive the bottom line.

These are just some of the key aspects to consider when incorporating social media into your marketing plan. For more guidance on how to develop your social channels or if you need advice on how to create a strategy which is carefully aligned with your business objectives, contact us today!

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