Why Finance Companies Should Be Using Social Media
Various industries lend themselves to the use of social media much easier than others. At first glance, the financial industry doesn’t seem to be one of them. However, when you dig deeper into the varied ways you can use social media, you will see it can be a smart choice for finance companies. As long as you hire experienced social media content writers to complete your social media writing, you can avoid these common misconceptions regarding social media use for finance companies.
Compliance Issues
One of the most common myths surrounding social media for finance companies is the inability to maintain compliance. However, as long as you discuss your concerns with an experienced compliance officer, you will learn what you can and can’t do with your social media account. To ensure you maintain compliance, create a social media policy and follow the proper approval processes before posting.
Who Uses Social Media?
Many finance companies don’t think their clients use social media. While the first sites were created as a way for younger generations to keep in touch with each other, social media has transformed into a medium just about everyone uses. Chances are your target audience is present on the most popular sites, giving you easy access. Even investors are using social media websites to find companies they are interested in backing.
No Benefit to Social Media?
If you aren’t familiar with social media writing, you may not understand how it can offer any benefit to your industry. However, there are many reasons these websites are the smart choice for your finance business. For instance, if you have a website, you need increased exposure, more website traffic and a solid connection with your clients. Your social media content writers can also increase your search engine rankings, generate more leads and improve your marketing efforts.
More Followers Guarantees Greater Success
Some finance companies start using social media because they think they will be more successful if they can get more followers. While this may be true, it isn’t a guarantee. You will still need to make an effort to target and engage followers that are more likely to convert into sales. In the world of finance, the number of followers is not an indicator of any level of success.
Negative Feedback Should Be Ignored or Deleted
When you start using social media, you open your company to feedback from past and present clients. This may mean some negative posts regarding your business. It may be tempting to ignore the feedback or delete it so no one else sees it, but this isn’t the best way to do business online. Instead, talk to your social media content writers about the best way to address negative posts to reflect well on your business practices.
Social Media Doesn’t Have to Be Strategic
Taking a “go with the flow” approach to your social media writing isn’t going to offer the results you want. Using social media to promote your business should follow a specific strategy. Without a strategy, you will find you don’t know what to post or when. This approach also doesn’t allow you to track the success of your online marketing efforts. It is always best to create goals and tactics to track and reach those goals.
You Can’t Track Success
Financial companies thrive on tracking their success. Those who are involved in this industry rely heavily on statistics to determine how well they are doing, as well as how their clients’ progress. Social media makes it easy for you to determine which leads come from these websites so you can weigh the success of your social media marketing. Analytics are the ideal way to determine if you should be using social media or if it is a waste of your time.
There are many reasons finance companies should be using social media. Unfortunately, there are also many misconceptions that lead businesses within this industry to turn to other marketing methods instead. However, if you choose the right social media content writers for your social media writing, you will find this type of marketing can still be a valuable tool.
If your finance company is looking for help with your social media writing, contact us. Our social media content writers can help you create valuable content that will generate the right leads.
