This is an age of social media marketing. When it comes to promoting and strengthening brands, social media is really an effective tool. This is true for all industries. And the banking industry is no exception.
Creating properly designed social media marketing strategies is the backbone of a successful marketing for any industry. Therefore, you need to do it for banking businesses as well.
Wondering how you can create the perfect social media marketing strategies for your banking business?
It might seem a bit overwhelming at first. This is why you will need a few tips on how to plan your social media marketing strategies for your banking business.
Here are the ways to build a social media presence for your bank or financial institution through well-planned social media marketing strategies.
Increase Touch Points
Needless to say, the banking industry struggles a lot to make consumer connections. This is probably because they interact with customers only when it is necessary. This can be changed significantly with the help of right social media marketing strategies.
Social media plays a dominant role in increasing these connections and building on the touchpoints. This helps the customers to interact with their bank or a prospective financial institution, whenever such a need arises. Moreover, the personal nature of communication through social media also allows banks the opportunity to build realistic relations with the customer. This relationship is built on the foundation of:
- Customer satisfaction
- Value-added content
You can share live webinars hosted on savings or debt consolidation. You can also respond to social media chats, building on customer service. These strategies will help to cultivate a stronger relation at a reduced cost.
Blogging is fast becoming an integral part of social media marketing strategies. Creating and posting attractive blogs regularly can help you:
- Increase traffic to your banking site.
- Build your social media profile.
- Establish your expertise in the industry.
You can take up some of the most asked questions or concerns from existing customers and address them on the blog.
For a well-designed, SEO-optimised blog, ensure that you:
- Deliver a commendable user experience
- Include a call to action
- Use images and videos
- Establish consistent and readable post format
In addition to including high-quality content relevant to searches, you must also work with the developers of your banking website. It’s essential to ensure that your website loads really fast. Some search engines, such as Google, often prioritise sites that offer good user experience.
Share and Respond to Videos
If your bank receives great reviews and five-star ratings, don’t be afraid of sharing them on the social media profiles.
You can use the reviews as a key promotional tool as they provide social proof and are usually much more effective than traditional brand content or loud sales messages. Management of several profiles or listings across multiple online review sites makes responding to comments and reviews really challenging. To alleviate such concerns, you can use the professional agencies.
Celebrate Company Milestones
There are multiple milestones in a company that are worth celebrating.
What about celebrating the following through your social media channel?
- Promotions, hiring and retirements
- Companywide achievements
- Partnerships or new initiatives
Non-Traditional Reward Programs
While designing a rewards program for customers, you can have the following as prime goals.
- Increased customer loyalty
- Cross promotion of services and products
Chime, a financial technology company devised a rewards program, wherein for every amount spent using the debit card, they rounded up the total balance to nearest dollar, depositing the difference to the savings account. This system, no doubt, increased customer loyalty by encouraging customers to use their debit card. This program also encourages retention. The longer you stay with the bank, more free money you are going to earn.
What are the goals of your business? How are you planning to achieve them?
Having answers to these two questions is going to help you find out how you should be using social media marketing. And once you know that, you can formulate your social media marketing strategies to get the best results for your banking business.