Company social media accounts are vital for promoting brand awareness and customer brand loyalty.
Many financial services companies already have social accounts on Linkedin, Twitter, Google+, Youtube and Facebook. Some companies are branching out into more millennial driven platforms such as Instagram and even Snapchat.
Navigating the regulatory landscape on social media doesn’t have to be a headache for financial service companies.
Although regulations prevent Asset Managers from posting certain things, such as fund performance, there are still countless perks to using social media to target clients and prospects.
In this article we look at 7 ways to begin the social sell in your company’s (digital) marketing department, tapping into the wonderful marketing tool that is social media.
In our real financial brand examples, you will notice that they use social to promote either or both of these values:
- A positive company culture, for example a healthy lifestyle and charitable actions.
- Client education, for example the latest market updates.
The focus is never on selling a product, but on selling a way of life. More than that it is about helping clients and prospects. The social sell, should be exactly that, social! This means interacting with your client base.
1. Share relevant content
That’s right, you’ve heard it before social media is a great place for content marketing. Content marketing is one of the best ways to show your commitment to client education.
- Post content from your blog, knowledge centre or white papers directly to social media (this encourages click throughs to your website/ landing pages).
- Share lead generating content (i.e. white papers and other content with access forms).
- Re-post content from other sources that your clients will appreciate such as industry news.
Vanguard pinned this topical tweet concerning Brexit to their Twitter account @Vanguard_FA.
This is great social media practice:
Trending topic ?
Correct hashtag ?
Link to original content ?
Topical social media posts are successful because they interest and educate clients whilst promoting branded content.
As well as blog posts Vanguard shares other forms of their own content, like white papers:
Vanguard have a Linkedin page dedicated to client education:
Here they also share original content, such as this post concerning the new DOL fiduciary rule linking to a webcast.
Schroders also have a great social media presence in regards to content sharing. We’ve discussed their great use of infographics on Twitter in a previous blog post, check out this recent example:
They also (re)post other industry specific content from reliable sources, such as this infographic from the Bank of England:
Sharing content that isn’t your own is an important part of building a positive brand image, as a reliable source of information and an active player in the industry. Posting other reliable sources’ content shows that you are an engaged community member.
Social selling benefits: Builds client trust, promotes customer loyalty, generates leads.
2. Custom event hashtags
Whether you are at an event or hosting an event, conference or webinar, custom event hashtags are a valuable asset to have in your social media marketing arsenal.
- Before attending an event do your research: discover the conference’s custom social hashtag and find out the Twitter handles of key speakers.
- Whilst you are at the event: tweet photos telling people where your booth is and use the custom hashtag.
- Live tweet, quote speakers during talks and use their twitter handle to tag them, don’t forget that custom hashtag.
- If you host an event or webinar create a hashtag, including your company name (ie: #CompanyNameEvents or #CompanyNameLive)
- Build up to the event on social media: Join us for #CompanyNameEvents on [date] [short description of event] we hope to see you there!
- Post live as the event is happening
Barron’s Conferences are always popular and they have their own custom hashtags and a Twitter account @BarronsSummits. Attendees always make the most of their Top Advisors conference custom hashtag #BarronsTIAS.
Conway Wealth nailed live tweeting at this year’s conference:
T. Rowe Price used the custom hashtag to promote their booth with a clear call to action:
For this year J.P. Morgan went all out on social media to promotes their corporate challenge events with hashtag, #JPMCC. They took a smart multi-channel approach, posting the event hashtag on their Twitter and Instagram accounts:
They even created a Snapchat filter for the London event and promoted that on their Instagram.
Attendees got involved with the hashtag sharing their own picture across social with the hashtag #JPMCC
Check out this Twitter post from @DSTtalks:
And this Instagram post from steph_davis26 a #JPMCC winner:
For more on event marketing and social media you should check out this infographic.
You could even make the hashtag itself an event. Like Deutsche Bank’s #dbnumber of the day on their Twitter:
Social selling benefits: encourages client engagement, promotes positive brand image.
3. Create a series
If you want to tackle a broad topic instead of making one large report split the topic into a series of blog post or videos. This will provide you with a steady stream of posts to share across social platforms.
- Divide topic into 3-5 (ish) sections.
- Create a piece of content for each of these sections.
- Schedule regular releases and align with your social sharing strategy.
- Post and promote, remember as you promote this on social to announce that it is a series. “episode 1” “tune in/ come back next week” “for previous … visit our website” etc.
Schroders have recently posted a series of videos from their knowledge centre incomeIQ to their YouTube channel.
Social selling benefits: This encourages visitors to stay on your site and engage with multiple different posts. Encourages return visitors.
4. Direct to your company website
- Link to homepage or other relevant web page in your profile bio.
- Share links to blogs, landing pages and other company content.
- Remember Instagram only allows you to post one follow through link in your bio and none in posts, so use it wisely.
We’ve already seen how Schroders did this on their YouTube for the incomeIQ videos. Let’s have a look at how Financial services are linking up their social bios.
Look at how Deutsche Bank shares links in their Twitter bio as well as the designated link section:
Vanguard have taken advantage of Facebook’s ample about section to share multiple links:
Social selling benefits: Drives website traffic
Setting up competitions for clients and users on social media is a sure fire way to promote client engagement and it will give you some user-generated content. Plus it is never a bad idea to reward your clients.
- Leave instructions on how to enter the competition in your social media bio.
- Create a competition hashtag and circulate it on your preferred social site(s). This is a top way to promote the competition and your brand whilst tracking entrants.
- Link to your terms and conditions.
Allianz recently hosted a #ThoseWhoDare competition on their Instagram. Entrants who posted a photo with the hashtag #DareTo and an image related to courage were entered into a prize draw to win a trip to New York.
Allianz placed a competition affiliated hashtag in their bio followed by a call to action. Call to actions promote user engagement. They put the competition T&Cs as the account’s follow through link throughout the competition’s duration.
The competition provided Allianz with a pool of user-generated content to re-post. Promoting the brand-affiliated hashtag and the competition itself. In turn this promoted their brand in general.
Remember to make sure your content fits to the social platform. This competition works for Instagram, it allows Allianz to target millennials by presenting themselves as a company that encourages out-going and thrill-seeking youthful behaviour.
Social selling benefits: Builds a positive brand image, promotes customer loyalty..
6. Create initiative specific accounts
This is another way to build up a positive brand image. Perhaps your company supports a charity or runs a beneficial programme. By giving these initiatives their own account you can broaden the reach of your brand.
- Identify an opportunity with your company for a stand-alone account.
- Create the account on social platforms you already use.
- Re-post user generated content.
- Re-post on your companies main account (every now and then).
Citi bank have specific social accounts for their Citibike initiative in New York.
Great opportunity to repost, and engage with users.
As well as repost to the companies main Instagram:
Social selling benefits: Builds a positive brand image, promotes customer loyalty.
How to repost to Instagram
Although Instagram does not have a retweet button equivalent there is no need to miss out on great engagement with these Instagram hacks:
- You can screenshot the original post, posting the image to your account.
- Use a repost app such as Repost it!
- Always remember to credit to original account by tagging them in your repost.
For more detailed information on Instagram reposting see this article.
7. If in doubt use disclaimers and T&C’s
In amongst all the fun it is important to keep compliance and regulation in mind.
- Create a social media disclaimer web page
- Work with your compliance team.
- Link to the web page in your social media bio.
Remember Deutsche Bank’s Twitter bio?
Social selling benefits: Helps you keep compliant.
Let us know your favourite ways of using social media to engage with clients and prospects in the comments below or on Twitter.
If you work for an asset management brand that is Twitter savvy don’t forget to join our Asset Managers Power 100 to discover just how socially successful you are!