The Dos and Don’ts of Facebook Marketing for Financial Services Companies

The Dos and Don’ts of Facebook Marketing for Financial Services Companies

Things are changing in the financial services industry, and changing at speed. What once was a fairly slow-moving sector is now moving at an incredible pace – and there’s no time to slow down.

 

The ongoing digitalisation of the financial services and the increasing number of Fintech companies emerging to take on mainstream lenders, means there is plenty of competition within the industry – and a need to keep on top of your marketing strategy to succeed.

 

When it comes to marketing your company’s financial services, there are a number of key points to consider: from customer service and compliance, to branding and communication style.

 

If you want to get ahead and stay ahead in the finance world, you need to keep moving, whilst ensuring you don’t step over the line.

 

With so much to think about we thought we’d help you out with a list of dos and don’ts to consider when it comes to Facebook marketing for financial services. So, let’s take a look.

 

Do establish your brand identity and purpose.

 

The key to success on Facebook is building a community and communicating your message to that community effectively and authentically. You need to build meaningful relationships with your customers on social media.

 

By establishing your brand and communicating your identity and values to your audience, you make it clear who you are, what you stand for and what your purpose is.

 

Once people have an understanding of what your company is all about, they will be more likely to engage, discuss and purchase your services.

 

Don’t just sell, sell, sell.

 

Yes, you are a business with services to promote and products to sell. But you won’t get very far if that’s all you try to do on Facebook.

 

You need to start conversations with your audience; share knowledge and insight, offer advice and answer questions. By doing this you will form a connection based on mutual respect and trust. You will prove your company as a legitimate, knowledgeable financial services organisation, and subsequently attract long-term clients and drive sales.

 

Don’t just sell, sell, sell. Communicate in a human way and people will buy, buy, buy. 

 

Do be compliant, honest and transparent.

 

As a UK financial services provider, you need to comply with FCA regulations when marketing your products. These are legal obligations that you must adhere to when using Facebook to promote your services.

 

Also be sure to comply with your company social media policies and procedures – and don’t forget GDPR.

 

Under FCA regulations your adverts and promotions need to be fair, clear and not misleading, so that consumers can make informed decisions.

 

By doing your due diligence and abiding by these rules you are also providing your customers with an honest and transparent service, which is good for everybody involved.

 

Don’t talk in jargon and figures.

 

When posting content on Facebook, avoid using too much jargon.

 

You know the financial services inside-out. You’re fluent in the lingo and deal with digits and stats day in and day out. The majority of your audience aren’t and don’t.

 

Keep the figures and business-speak to a minimum. Communicate with your audience on a human level and save the deep stuff for when you’re one on one with a client.  

 

Do have a social media strategy.

 

Make sure you establish your goals and devise a strategy before you get started on Facebook.

 

Whether your primary aim is to raise awareness, engage new prospects or communicate with current clients. Knowing this in advance will provide a solid foundation for how you plan and execute your social posts, which will avoid wasted opportunities to connect in the future.

 

Don’t ignore messages and comments from customers.

 

When you share a news update, case study or financial report on Facebook, your intention is to drive engagement, right?

 

You want your content to spark interest and create discussion; whether that comes in the form of likes, comments, shares or DMs (direct messages).

 

So, when you publish a post and receive a question in the comment section, or a request for further information via DM, don’t ignore it.

 

The person on the other end may not be wanting to commit to your services right now, but they may do in the future. By taking just a few moments to respond, you increase the chances that the user will return to you when they are in need of financial assistance.

 

Do post different types of content.

 

Whether you’re dealing in mortgages, personal loans, small business loans or investment portfolios. Your knowledge and experience of finance can be incredibly helpful to the average consumer who may find borrowing and investing money confusing or intimidating.

 

Be sure to provide content for your audience in varied forms to maintain engagement: simple text posts, blogs, videos, infographics and polls. Share interesting industry-related content created by other users.

 

All of these provide value and will keep your company at the forefront of people’s minds. Promoting your company as a trustworthy, authoritative source in the finance world.

 

Don’t leave your page inactive.

 

Facebook has almost two billion active daily users – That’s an awful lot of potential clients.

If you leave your business page sitting idle, you waste the opportunity to engage a captive audience.

 

Avoid missing out. Develop leads and drive sales by devising a social marketing strategy and putting it into action.

 

Recap and review.

 

So, there we are. Some of the big dos and don’ts of Facebook marketing for financial service companies. Let’s do a quick recap of the main points.

 

  • Do establish your brand identity and purpose

  • Don’t just sell, sell, sell

  • Do be compliant, honest and transparent

  • Don’t talk in jargon and figures

  • Do have a social media strategy

  • Don’t ignore messages and comments from customers

  • Do post different types of content

  • Don’t leave your page inactive

 

Facebook can be a valuable marketing tool for finance businesses when utilised correctly. Take note of the above dos and don’ts to optimise your social media marketing strategy and maximise success.

 

Need help getting your digital strategy right? Book a free strategy call with one of our experts to discuss how we can help grow your revenue fast. Book a call.

 

Leave a Reply