So you’re here to find out what social media looks like for your bank. In this digital realm, every business is finding ways to remain in front of its target market, and social media is the ultimate way to do that.
In fact, when there are 4.9 billion social media users worldwide, it’s no secret that social media is something that you should be leveraging for your bank marketing strategy. But how could social media marketing for banks be done? Why is it so important for banks to use social media?
We know that you are willing to know the answers to all your questions. Therefore, we won’t let you wait anymore! In this blog post, we will unveil the top social media marketing strategies that every bank should focus on to build their digital presence and interact with customers in a way that they’ve never imagined. So, let’s delve deep to understand what social media has to offer to banks!
What Is Social Media Marketing for Banks?
You want to create a solid brand awareness of your bank in front of your target audience, right? Then why not shift your focus to where most of your audience is?
It has been researched that a typical social media user spends more than 2 hours daily on various social media platforms. People nowadays are more likely to know about any brand or business through social media faster than any other marketing method.
Social media marketing for banks has become necessary for creating absolute brand awareness, connecting with potential clients, and building customer loyalty. Gone are the days when banks employed traditional marketing ways such as TVCs, print advertising, and in-branch marketing to attract new clients and retain existing ones.
Now, banks have a great choice to promote their services through different social media platforms and engage with their customers in order to bring in more customers to their respective branches.
However, social media marketing for banks does have some limitations when it comes to abiding by regulations and stringent laws. For example, it’s essential to keep in mind that your content strategy on social media must comply with the guidelines and rules that your specific industry has to avoid any complications and penalties.
Why Is the Role of Social Media for Bank Marketing?
Social media rage has become increasingly common in people aged 16-64 since 44% of them are using social media as a primary source for taking insights into brand information. It has been seen that people prefer to visit the social media profiles of any business or brand before making a purchasing decision.
You must remember the time when people used to visit banks to place their complaints and to get their queries answered by a financial consultant. However, social media has made it easier for banks to interact with their customers through various social media platforms without making them visit their nearby bank branches for their issues.
Social media marketing has allowed banks to improve their reputation by speaking their true brand value through creative content. People are now feeling a sense of connection with their banks by engaging with them through social media and knowing the other side of their bank image.
Banks can offer customer-centric content and create compelling posts that resonate with their customer’s interests in order to connect with customers on a personal level. Let’s say your bank deals with child insurance services; you can create emotionally striking videos and posts that encourage people to make their child’s future better with your services.
Moreover, social media also allows banks to create their brand presence and make necessary updates through social postings. For instance, if your bank hours are adjusted during any day in the week, you can inform your customers about it by creating a Facebook post or posting an Instagram story. It cuts the cost of using personal messaging or other automated channels to let your customers know about your bank updates and news.
How To Do Social Media Marketing for Banks?
Most businesses think that social media is only about posting content and updates to keep your customers informed about your business. However, there’s more to social media than this. You need to build a sound strategy for social media in order to stand out from your competitors and remain on top of the minds of your customers.
Well, we understand creating a solid social media marketing strategy for banks might be a hassle for you. That’s why we have compiled a list of proven techniques and strategies that are sure to make an impact on your bank’s digital presence. So, let’s look closer at these social media marketing tactics for banks!
1. Make a Strategy
When it comes to running a successful social media campaign, planning is everything that makes or breaks your marketing efforts. Without having a strategic plan, you may find yourself struggling to accumulate all your actions. Like in a puzzle, every piece contributes to building its end result. Similarly, your social media marketing strategy must be planned and composed in a way that complements your goals and helps in attaining measurable outcomes.
One of the renowned digital marketers, Neil Patel, once talked about having a competent social media plan by saying, “ A sound social media marketing strategy is the backbone of your social media presence. Without a strategy, you’re wasting time, unlikely to achieve your goals, and will most likely struggle to reach your target audience.”
You must identify your goals before diving into the vast sea of social media. For example, if your end goal is to create brand awareness about your bank, you may need to create content according to this specific goal. However, if you want to expand your services, you can use social media to bring in more customers and promote customer engagement.
Moreover, knowing your target audience is also helpful in making decisions that resonate with your customer’s preferences and needs. You must know who your target audience is and what would affect their minds when it comes to promoting your bank services. It allows you to align your content strategy that best suits your target audience to achieve more profitable results.
2. Choose the Right Social Media Platform
If you’ve limited your social media efforts to just Facebook and LinkedIn, it’s high time to consider other social platforms to attract and engage new audiences and boost your conversion rate. Although Facebook, with its nearly 3 billion monthly active users, is the most used social platform, you still need to leverage Facebook in the most useful way to achieve remarkable results.
You can use Facebook to share your website links that direct your users towards your service pages and blog posts to enhance their overall banking experience. Additionally, you can even share insights and interviews with industry professionals promoting financial service benefits. It makes your users perceive your bank as a leading authority in your niche.
LinkedIn is also useful for sharing informative articles and posts to entice business professionals seeking financial management services. However, you must leverage Instagram to create a powerful image of your bank by posting client testimonials and employee-featured posts. In fact, a recent study claims that 45% of banks prefer to use YouTube for their branding and providing information to users.
Furthermore, Facebook and Instagram ad features also enable banks to run their targeted ad campaigns and generate faster responses when it comes to creating awareness and promoting services. You can simply create your meta ads account in order to place your ads in front of your target audience
3. Create Informative and Effective Posts
You might be wondering what social media content would be effective for your bank marketing. But let us tell you, you could play with different ideas and experiment with various styles when it comes to posting on social media. However, you need to take care of the regulatory policies and guidelines that may affect your reputation.
Create various sorts of content for different social platforms. For example, you may create infographics and long-form videos for Facebook and Linkedin. At the same time, you can develop a solid, visually appealing content strategy for Instagram.
Post your bank updates, such as opening ceremonies, employee anniversaries, and event promotions, to let more customers know about your bank and its ultimate work culture. Moreover, you must utilize creating infographics as these have a 3x higher chance of being shared and liked by the users.
4. Leverage Visuals to Enhance Experience
Visuals are essential for grabbing the interest of targeted customers more quickly than text or written content. Banks need to hire professional designers to create exceptional and intuitive visual designs for their bank services and promotional content.
However, if you are short on budget, you may leverage various online platforms to gather images and design them through Canva or Adobe Photoshop. It will make your profile effective and compelling for the users to explore and engage. You also need to post more real pictures of your bank, employees, and customers to build credibility and uniqueness of your brand.
5. Use Hashtags
You need to create more posts with classified hashtags on various social media channels such as Instagram and Twitter. These hashtags will help your bank get discovered by the users who search while using the particular hashtags that you’ve used in your post.
You can use multiple hashtags under your posts, but make sure to remain relevant and specific to your niche. For example, if you are posting about taking loan services for property, you can add various hashtags such as #loanservices, #lowinterstloan, and #propertyloan. So, when someone searches with a hashtag like “#propertyloan, your post will appear in their results, making them visit your profile and explore your banking services.
6. Engage with Your Customers
Social media marketing for banks isn’t only about posting compelling content and then forgetting about engaging with your customers. Customer service should be your top priority even while you’re promoting your services on social media.
You need to remain active while responding to comments and queries of your customers and provide excellent support wherever they engage with you. Make sure to reply to feedback and post testimonials to boost engagement and allow the audience to trust your banking solutions.
Moreover, you also need to schedule your content in order to provide dedicated and loyal customer support. You can utilize various online platforms and tools to maintain consistency and regularity of your postings.
Conclusion:
So, now that you’ve known the strategic ways to social media marketing for banks, it’s time to implement all the acquired knowledge in creating a solid strategy. You must remain creative and efficient in order to build a robust social media presence for your banks to stand apart from your competitors.
However, if you need any support regarding optimizing your bank website and creating a social media marketing campaign, you can get our help by contacting us or booking your consultation with our expert now!
