Use Of Social Media In Financial Services

“Have you tried social media?” is a question that you’ve probably been asked more times than you’d like. Social media seems to be the answer to everything these days…

Want more brand awareness? Use social media. Want to interact with your audience? Use social media. Want to target a specific audience with your ads? Yep, you guessed it – a major part of financial services marketing is social media.

However, it’s no good just using social media for the hell of it, putting out a post out from your business account and hoping for the best isn’t going to suffice if you want to generate high-quality leads.

Our primary (and most effective) use of social media in financial services is for advertising, as you can target your audience to who your ideal audience would be.

The Quickest Win Of Using Social Media In Financial Services Is…

Remarketing. This tool allows you to target your ads at anyone that has been on your website before, so you already have an advantage as you know that they’ve got an interest in you or your product or service. Did you know that you can also gauge how interested someone is in you, by how long they spend perusing around your website and if they’ve been on more than one page.

As a general indication, if someone has been on your page longer than 10 or 15 seconds, it shows that they are interested, as that’s quite a long time in internet time.

Why Retarget On Social Media In financial Services?

The reality is that (as much as we want them to be), not everyone is ready to make a purchase, get a quote from you or get in touch with you. It might be as innocent as they simply did not have the time at that moment, or they might need time to weigh up their options and digest the information you’ve provided them. It’s important to remember that good thing take time.

But rest assured, all hope is not lost just yet… A gentle reminder of your presence and offerings should be sufficient enough to persuade them to want to do business with you.

Use Of Social Media In Financial Services

Don’t be so pushy…

No one likes to feel like they’re being forced into anything. People like to feel in control of their buying decisions and that if they make a decision, it will be off their own back. So the pushy salesman talk can take a back seat on this one.

What we do is, run multiple remarketing ads. Because if people keep seeing the same ad time and time again, it’s going to be annoying and act as more of a deterrent more than anything. Sometimes we run up to 20 different remarket ads, taking the key message and leveraging it.

Remarketing can be done on pretty much every social media platform. We use LinkedIn, Twitter, Facebook, Instagram etc. even if we think it’s not relevant. We’ll still use LinkedIn for B2C and equally, we’ll use Instagram for B2B, because if people have been on your website and are checking Instagram, they are still potentially your customer. So we recommend remarketing on every social media platform.

You’ll also be pleased to hear that remarketing doesn’t have to cost the earth, either. Even spending as little as £2 a day will be enough to get you in front of plenty of interested people.

We love Facebook ads

We’re seeing a massive shift in advertising spend from Google ads over to Facebook and for good reason, as you can still generate really great quality leads, especially in financial services and B2C.

This is because you can utilise interest targeting as virtually every financial service product can be selected to target your specific ads to. For example, you can target people that have been interacting with content around your financial service product or if they’ve been on other websites that feature your product – we’ve found that this works really well.

The quality of Facebook ads are great, but a lot of it boils down to you as an advertiser. You need to nail the messaging of your ad and your landing page – as the quality of the lead rests on you.

You will also find that you can start to generate higher quality leads when you create buy-in for the brand and when and you make it clear what the next steps are. You need to show someone that there is real value in talking to one of your advisers and you’ll have leads flying in all over the show.

Are you reaping the benefits of chatbots?

Did you know that you can utilise Facebook ads to trigger a chatbot related to a specific financial service product? With chatbots, you’ll save time and hassle, as it will automate communication with a potential client and only provide you with the important information that you need to know. To your surprise, the also would have already scheduled a call with you! Chatbots provide a win-win scenario.

How to get cheap clicks on LinkedIn

LinkedIn is a great platform for B2B however, it can end up being quite costly if you do exactly what it tells you to do in regards to its ads. We don’t do what they say and we are getting some really great results.

We highly recommend bidding to get in front of a thousand people (or impressions). Essentially, you bid around £15 – £20 to get in front of a thousand people and if you get more than four clicks, you’ll get cheaper clicks than bidding on a cost per click, as LinkedIn recommends. As they say, the proof is in the pudding, and on some campaigns we’re getting clicks for 35p rather than the £5 Linkedin recommends.

You can also utilise LinkedIn targeting, where you can target people based on anything that’s on someone’s LinkedIn profile i.e. job title, seniority, industry etc. I’m sure you get the gist…

Use Of Social Media In Financial Services

Do it for the ‘Gram…

Last but not least, you can manage your ads for Instagram withing Facebook Ads Manager, but your ads will need a different strategy. With Facebook ads, you don’t need to rely on visuals as much as you would with Instagram. So get your creative thinking caps on for ads on Insta.

Do You Want To Know More?

We can't help everyone, but what we can guarantee is we'll be honest, transparent and only propose that we work together if it's going to be profitable for you.

If we can't help you, we'll give you a bunch of things you can action yourself that will make a difference, we're confident that if we do speak it will be time well spent.