Social Media Tactics Innovative Banks Should Use

You’ve finally got your bank up and running on social media. So what now? The world of social media is an increasingly vast place. Deciding where to post what content or figuring out which platform you should invest more time into can be an intimidating task. However, it may be simpler than you think — all you need is a solid plan. If you implement the expert tips below, you’re sure to get off on the right foot on your bank’s social media journey. 

 

Decide which platforms are right for you

 It’s probably not surprising that Facebook boasts the most active users of any social media site. But does that also mean it’s the best place to reach your audience? Not necessarily. To figure out of Facebook is right for your bank, you first must decide which products you want to push on social media and who the audience is for each product. Looking to bring in young adults for a college checking account? Sticking to Instagram and Snapchat will help you connect with a younger generation who would be most interested in such a product. Pushing a mortgage loan? Facebook may actually be your best bet in this instance, because users tend to be slightly older and more family-oriented. You may also want to consider Twitter. For many people, Twitter has become their go-to platform for news, so it could be a great channel to reach an audience checking rates to purchase a home. No matter what product you’re selling, always consider where your audience will be. 

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    Don’t Forget to Interact

    Getting your bank up and running on social media is just the beginning. You also have to be sure you’re posting content regularly and always following up. One of the most unique aspects of social media is that you are able to have a direct connection with your customers. Have an angry customer? A polite public response showing you resolved the issue gives other potential customers a great impression of your service. It shows your bank truly cares about each and every customer and will do your best to take care of them. It’s a great way to garner both positive and negative feedback from real people who are using your bank and its products. Be sure not to overlook it. 

     

    Use the Tools Provided

    It’s easy to post something on social media, respond to a few comments and walk away. But, if this is what you’re doing, you’re not taking full advantage of social media’s potential. The majority of social media platforms include analytics features that allow you to see who is interacting with your content. Use this information to tailor future content to these users. Analytics can also give you insight on how to expand your audience. If a certain post suddenly receives significantly more engagement you can use that information when creating future posts to retarget that particular audience. 

     

    Take Advantage of Promotional Posts

    One of the greatest benefits of social media is that it’s free. However, by investing just a few bucks on some of your content you have the potential to reach people who are likely to be interested in your products but just don’t know about your bank. By promoting or “boosting” posts, your content will be placed in the news feeds of people who may not follow you but are likely to be interested based on their previous activity. You can boost posts with essentially any budget, from just a few dollars to a few hundred dollars. Promoting posts is a great alternative to higher-cost forms of marketing. 

     

    No matter how big or small your bank, there’s no doubt that it will benefit from the reach and ease of social media. It’s easy to feel overwhelmed, especially when you’re just starting out, but creating a solid plan and sticking to it can make the process a breeze, bring in a whole new range of customers, and help to ensure they stick around for the long haul. 

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