Benefits of Social Media Marketing for Financial Services
Social media is playing a huge role in making the world a smaller place. Just one click and you get to connect with coworkers, associates and all other stakeholders with minimal effort and no cost. From industry players, marketers, to your customers, all are using the social platforms like Facebook, YouTube, Twitter, etc., to connect with the world and know what is happening in the industry. As a result, it becomes imperative to harness the power of social media and leverage it to market your business to your target audience where they are.
Though most industries have been using social media immensely to market their business to their target audience, the finance industry is still making its way to it, rather slowly. However, financial marketers must realise the need to use social media to market their products and services to their target audience. It is crucial as your audiences are the most active on these platforms, which makes it easier to attract engagement and convert it into customers.
Why financial marketers should start using social media marketing is not just limited to the fact that it helps you connect with people but because it offers benefits much more than one could even imagine. Let us look at what these are:
It’s for free
The biggest and the best advantage that all social media platforms offer is that they are available free of cost and with practically no costs involved, these platforms provide much broader and easier access to our target audience. Also, with the advent of smartphones and the evolving internet technology, people lately, have been able to access these platforms any time and anywhere, which makes it imperative to deploy this marketing strategy to reach the target audience where they are.
Given the extent to which people worldwide are consuming social media platforms, brand presence on these platforms is sure to increase brand visibility. It will not only help raise brand awareness but, will also increase the extent of expertise-based referrals you receive, drive more traffic and in turn, generate more leads.
Promotes your content offers
Technological advancements are bringing in newer marketing strategies that can be employed to market one’s business. One such approach is content marketing, which as the name suggests, means distributing your content. Social media platforms like Facebook, Twitter, etc., serve as the best platforms for distributing content offers like blogs, ebooks, whitepapers, etc., that you’ve created for your target audience. It will benefit brands by creating awareness on the one hand, and increasing engagement, on the other.
Leverage existing content
Today, the meaning and scope of content is not just limited to words put in an article but, includes images, videos, podcasts, infographics, and others. Social media platforms serve as the best way to amplify the content you’ve created for your target audience. You can start by creating a blog for your audience, sharing it on Facebook for a more extensive reach, creating tweets and sharing on Twitter, creating a video around it and sharing on YouTube, and the list can go on and on.
Builds credibility and trust
While it creates and builds engagement, social media also helps strengthen brand authority by backing your website and content offers. Brands should look for increasing their followers that can help build connections and in turn, improve credibility. Here, platforms like Twitter not only serve as a place to interact with your target audience but also make your customers feel that they’re cared for and attended.
Boost organic traffic and SEO rankings
Posting quality content on social media regularly will not only boost your organic traffic but will also increase your search engine rankings. The more qualitative content you produce and share, the chances of your followers sharing your content increases. Undoubtedly, the more the links pointing back to your website, the higher will be your search engine rankings. Social sharing is a trend that is spreading far and wide, and it’s time you take leverage of it.
Brands worldwide are benefitting from harnessing this marketing strategy in a big way. It’s time for financial marketers to move from traditional marketing to social media marketing because this is the trend of the morrow. Reach your audiences where they are, for free and earn returns higher than ever before.