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Social Media for Financial Services Companies

Social Media for Financial Services Companies

The use of social media in financial services is often disputed. Some believe that social media does not hold the same value for business-to-business (B2B) brands as it does in the business-to-consumer (B2C) market.

This, however, is not the case.

While it may be true that B2C companies are often more successful on social media than B2B companies, there are still a multitude of various reasons why building a social media presence benefits a financial services company.

Take it from our Social Media Team at Digital Storyteller: “A marketing strategy without social media is like a margarita without tequila. No one wants that!”

In this article, we’re detailing the key benefits of using social media marketing for financial services companies.

1. Strengthen Existing Relationships

One of the greatest benefits for all businesses to developing a social media presence is to strengthen their existing client relationships.

This may refer to:

  • Engaging with existing or past clients, or
  • Nurturing relationships with contacts that have yet to become clients

Either way, social media networks provide a platform to maintain relationships.

Email marketing and consistent calls are of course another option to nurture relationships! These methods, however, have the potential to get irritating rather quickly.

While blasting your clients’ inboxes with emails may lead them to the dreaded unsubscribe button, they may not feel the need to take such drastic measures when their level of engagement is the casual viewing of sporadic Instagram posts.

Social media provides a relaxed addition to your existing client nurturing process while additionally providing a platform to develop new relationships.

2. Build Trust 

In the same way that Google evaluates content for SEO purposes, viewers evaluate clients based on their authority and expertise. Developing a depth of content on social platforms provides potential clients an opportunity to review your level of expertise within your field.

Over time, existing clientele and prospective clients will likely begin to follow your accounts and engage with your content. Engagement with your content shows that you have a proven following and support system that trusts your business.

Read on to learn more about Instagram engagement.

3. Provide Customer Support 

Social media has turned into an easy, new line of communication.

It has become common for consumers to utilize social media to gain support and answers from companies rather than going through their traditional customer service channels. Various social media platforms provide space where clients are comfortable and familiar.

It is easier for a client to tag, tweet, or comment on a company’s latest post than it is to sit on hold with the customer service line for hours trying to solicit help… No, thanks!

Companies love to see their favorite clients and prospects engaging with them on a personal level through social media. Brands that engage and respond to their clients on social media have overall higher customer satisfaction ratings. 

It’s 2022, your clients are on social media—and your competitors are, too.

The truth of the matter is: Brands are expected to have a social presence.

Giving your clients an additional outlet to contact you offers them the support and guidance they’re looking for.

After all, your product or service already serves to solve a problem that they’re facing. Why not fix another one by making yourself more accessible?

4. Humanize Your Brand 

In a sense, this goes along with the previously mentioned need for customer support. Making your brand available on social media is like positioning yourself as their friend. Social media platforms were created to connect friends and share experiences, so why can’t the same be the case with brands?!

Social platforms allow your brand to share a behind-the-scenes look at the people that make your brand what it is. For example, our co-founders, Andrew Marr and Amanda Rogers, each have their series of relevant videos that we share weekly.

Not only do these videos “share the secret sauce” behind our brand, but they also give our viewers insight into the faces behind the brand! Plus, who doesn’t love a chardonnay review!?

The same may also be the case with your brand. Finding a way to interact with your clients on an informal basis allows them to consider you a friend or peer. It creates a relationship of trust and mutual respect: Two things you definitely want in your client relationships.

5. Gain Insight

Lastly, being engaged on social media allows your brand to gain insight. Be it consumer or competitive insights, social media functions as a reporting platform. 

The way that consumers engage with your social media account can tell you about their buying behavior, likes, dislikes, and needs.

Instagram, for example, has transitioned its functionality to operate similarly to a search engine for users. Tracking the views of your page, accounts reached, post likes, comments, shares, and saves can provide significant insight into how your brand is performing.

Read on for our article “What is Going on With the Instagram Algorithm!?”

Similar claims can be said about your competitors. One of the benefits of public social media accounts is that you can track insight into your competitors’ content. As they provide content for their followers, you have a front-row seat to see what they’re doing!

A Final Word

If your brand is already on social media, there are additional ways to ensure that you are optimizing your channels. This is particularly the case for financial services companies interacting on social media.

Check out this article for additional tips on the use of social media for financial services companies!

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How to Leverage Your Business Using LinkedIn

person holding their phone at desk using linkedin application

LinkedIn is more than just a place for inspirational quotes and flexing your job experience… This platform—primarily used for professional networking and career development—is also a great place to leverage your business.

The best part? You don’t have to rely solely on paid advertising when it comes to LinkedIn! (That’s a win in our book). While organic marketing on LinkedIn takes more time and effort, the results are well worth the investment.

Interested in learning more? Here are our best tips on how to leverage your business using LinkedIn.

What is Organic LinkedIn Marketing?

First, what is organic LinkedIn marketing? Simply put, organic LinkedIn marketing is your ability to reach a desired target audience without using paid ads or marketing (i.e. no pay-per-click, also known as PPC).

Now, let’s dive into how to do it.

Connect with Individuals in Your Industry

When it comes to organic marketing, it’s absolutely essential that you have a social element driving your marketing efforts.

This means making connections with individuals who are in similar industries and/or positions (aka individuals who will actually care about the information you put out!)

Why? Your content will resonate even deeper with these connections.

So, how do you start building your network? The search bar on LinkedIn is a great tool that can help build connections. Using the search bar, you can search for:

  • People
  • Companies
  • Groups
  • Posts
  • And more!

Don’t Shy Away from Thought Leadership

LinkedIn is known for rewarding those who engage in thought leadership. But what is thought leadership? Thought leadership is defined as “the expression of ideas that demonstrate you have expertise in a particular field, area, or topic.”

Use your industry knowledge to your advantage; become a thought leader! This effort can have an even bigger impact if you’ve grown your social network intentionally as mentioned above (this means all the right people will see your awesome insights!)

Use Video Content to Your Advantage

We’ve said it a million times over… Video content is GOLDEN—especially in today’s day and age! Why? Video is a great attention grabber. Plus, it keeps things authentic and personable!

Think: Would you rather read 300 words on a page or watch a real person speak for one minute on camera? We’d choose the latter. So, use video content you have to your advantage on LinkedIn.

Interested in learning more? Read on in our article “Want to connect with your prospects? Use video.”

Don’t Be Afraid to Engage

You want people to engage with your content, right? So, don’t be afraid to do the same… Practice what you preach!

Next time you’re scrolling through LinkedIn, consider: Is there a piece of content that you think your audience would like? If so, share it and add some of your insights or thoughts in the caption. Have you enjoyed something that someone posted? Let them know in their comments!

Comments and reshares are a fantastic opportunity to showcase your own expertise while also getting your business’s name out there.

Use Hashtags

Just like any other form of social media, hashtags are a great tool you should be taking advantage of on LinkedIn. Using hashtags can increase your chances of showing up on someone’s feed as well as the ability to be found by search.

For example, in a piece on the importance of SEO and content marketing, hashtags might include #SEO #ContentMarketing #DigitalMarketing #Marketing and so on.

Let People Know You’re on LinkedIn

Shout it from the rooftops! People should know what social media platforms your business is on. Let people know that you’re on LinkedIn by cross-promoting it on your other profiles (i.e. Instagram, TikTok, Twitter, Facebook, Pinterest, etc).

Define and Maintain Your Brand Voice

Every brand has its own unique voice. At Digital Storyteller, we believe that each of our clients has a primary and secondary brand voice, split 90% to 10%. The 12 brand archetypes are as old as Greek tragedy (sadly, we can’t take credit for making them up…) and include:

  • The Innocent
  • Everyman
  • Hero
  • Outlaw
  • Explorer
  • Creator
  • Ruler
  • Magician
  • Lover
  • Caregiver
  • Jester
  • Sage

Want an example or two? Harley Davidson is a great example of an outlaw brand voice, whereas Disney is the magician archetype. An example of a ruler is Rolex; Chanel would be a lover.

Make sense? Not quite? Read on to learn more about our unique Brand Storytelling Sessions that we conduct to define brand voice.

Post Consistently

No one wants to follow an account that posts for Thanksgiving and then not again until Christmas. Make sure that you’re posting consistently to LinkedIn (and all of your social media platforms, for that matter!)

To reap the rewards of organic content marketing, you have to be consistent. At Digital Storyteller, we estimate that it takes between six to 12 months to see the results of organic marketing. This is why so many people today decide to go the paid route instead… They are impatient and in search of a quick fix.

Our best advice? Whether you’re posting once a day or once a week, create a content calendar and stick to it.

Don’t worry – We’ve made it easy for you. Click the link below to download our full content calendar template!

Download our FREE Content Calendar Template

Still feeling overwhelmed? Reach out to our team today! When you partner with Digital Storyteller, you gain access to an entire team of marketing experts at a fraction of the cost. Think content specialists, a client success manager, graphic design team, social media team, SEO specialists, and more!

Want to learn more about what a partnership looks like? Read on to learn what to expect when working with an outsourced digital marketing agency (including how much it costs!)

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What is Going on With the Instagram Algorithm!?

scrolling on instagram burgers in background

Social media algorithms, we’ve written about them before. It seems, however, that with every month, week, and sometimes daily, Instagram is implementing new changes.

Instagram has recently implemented a number of changes to its algorithm that have crashed engagement across nearly all accounts.

The most common complaints we hear? “I never see my friends’ posts anymore,” “I think I’m shadowbanned…” “My engagement sucks lately.”

We’ve heard it all and we feel your pain! Let’s talk about some of the recent changes Instagram has implemented and address some of these concerns.

What’s Going on with The Instagram Algorithm?

What better way to dissect the algorithm than to look at a blog post that Adam Mosseri, head of Instagram, wrote titled “Shedding More Light on How Instagram Works”?

Most importantly, Mosseri wrote that one of the main misconceptions about Instagram is the existence of “The Algorithm.”

“Instagram doesn’t have one algorithm that oversees what people do and don’t see on the app,” says Mosseri. “We use a variety of algorithms, classifiers, and processes, each with its own purpose.”

There’s a ton more good stuff and information on how the Instagram algorithm works (or lack of!) in the actual article, so check that out if you’re interested.

For now, let’s talk about some of the recent changes Instagram has implemented that might affect your content being seen or not.

Chronological order is back!

It’s about time! Instagram’s @Creators account finally announced the return of chronological order.

Back in the day—in 2010, to be exact—the Valencia filter ran rampant and the app itself looked like a neutral-toned vintage camera. Moreover, your home page was a single stream of photos that were sorted in chronological order.

Viewing posts in chronological order, however, was a feature that was removed in 2016. If you ask some, this choice nearly started WW3 (Just kidding … Kindof).

But flash forward to today, it’s back!

“You’ve been asking, and we’ve been listening! 👀” is what @creators captioned the announcement.

Following and Favorites

Instagram decided to take things a step further.

Instead of reverting back to solely chronological order, Instagram now offers three options to view your feed:

  • Home
  • Favorites
  • Following

Here is a brief description of what makes each different.

Home: According to @creators, “home” refers to the feed you’ve gotten used to. This feed will “remain a mix of content from people you follow, recommended content you may like, and more.” Home will remain your default view when you first open the app.

Favorites: Your “favorites” feed will show you the latest posts “from a list of up to 50 specific accounts that you choose.” This might include your best friends, favorite creators (including Digital Storyteller of course), or other favorite accounts that you follow.

Following: Just as it sounds—the “following” feed will show you posts from only accounts that you follow.

Are You Using All of Instagram’s Features?

Over the past five years, Instagram has launched a ton of new features, including reels, stories, IGTV, and even shopping.

We’ve noticed that sometimes it feels like Instagram either rewards or punishes accounts based on your usage of the app as a whole. The bottom line? Instagram wants you to use and try all of its features. 

Depending on your business or goals, your digital marketing strategy might include a combination of:

  • Standard posts
  • Reels
  • Stories
  • IGTV videos
  • Shoppable posts

Consistency is Key

The algorithm favors consistency and patterns. Find out when your target audience is most active, and tailor your posting schedule toward that. At Digital Storyteller, we do this with ease using the scheduling platform, Metricool. Of course, there are various alternative scheduling platforms and tools that can be used similarly as well.

A Quick Rundown of Each Social Media Platform

Lastly, it’s important to know which social media channels are best suited to help you attain the unique needs and goals of your business. That’s why we’re sharing a brief rundown of what each platform can be used for when it comes to your business. So, what the heck does each of them do? Speed round, go!

Instagram

Instagram is great for building engagement and sharing culture. That means taking pictures of your team at events, showing off your pets, and happy hours and posting them!

When an Instagram user visits a business’ Instagram, they want to see the people behind the business. Show them who they get to work with when they decide to buy your product or become a client.

Facebook

Facebook is for your grandma… Just kidding, kind of!

Facebook, in the business world, is a largely pay-to-play platform. In simple terms, if you’re not putting money behind your Facebook efforts, chances are not many people will see your content. Boosting a specific post to your Facebook audience can attract thousands of impressions, whereas organic content doesn’t typically reach the same levels of performance.

(Please note: We’re not suggesting that you dedicate your entire marketing budget to your Facebook page, but putting $50 behind a post here or there can significantly support your Facebook performance).

LinkedIn

LinkedIn is a professional platform, which means it’s probably not the best-suited platform to share your family photos or pictures from your latest island vacation.

LinkedIn is a great platform to help you build authority and build a professional network. Chances are, LinkedIn is your best bet if you’re looking to identify qualified leads via social media. It’s also a great way to gather expertise from established experts in your industry.

Twitter

In a nutshell, Twitter is for politics, news, and funny one-offs (think: memes, GIFs, recaps of the Oscars…)

A Final Word

We know that managing your business’s social media presence can be a lot to keep track of on top of running your business. That’s why we recommend you pass on the work of crafting a killer digital marketing plan to our team of experts at Digital Storyteller.

Not ready to make the jump yet? Let’s get REEL instead! Check out this article on how Instagram reels support your social media strategy. Then, shoot us a message.

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Top Seven Categories of Digital Marketing

Top Seven Categories of Digital Marketing

How They Work Together

The world of digital marketing is constantly evolving. (We know you know this because we remind you of this in nearly every piece of content we push out!) There are, however, a handful of tried and true marketing efforts under the larger umbrella term of ‘digital marketing.’

Because let’s be honest, not all marketing efforts are created equal. Here we will discuss the top seven categories of digital marketing and how they work together. These seven categories of digital marketing are fundamental to the success of your business’s content marketing strategy.

So, let’s get started.

Content Marketing

First, what is content marketing? Content marketing is the bread and butter of what we do at Digital Storyteller.

Content marketing is “a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly-defined audience—and, ultimately, to drive profitable customer action,” as put by the Content Marketing Institute.

Today, the traditional sales pitch style of marketing is decreasing in value every day. Instead, content marketing approaches prospective clients by providing useful, relevant content to help solve problems or answer questions. Furthermore, content marketing aims to build trust with your prospective clients rather than simply complete a sale. 

Effective content marketing utilizes the “creating and sharing [of] relevant articles, videos, podcasts, and other media.”

This type of marketing helps to establish expertise and increase brand awareness. The goal is to make sure your business is at the top of your prospect’s mind when the time to purchase a product or service comes.

Search Engine Optimization (SEO)

SEO is another crucial pillar in terms of your digital marketing strategy. SEO, in simple terms, is what allows your content to be found.

For our friends who love definitions, SEO, according to Moz, is “the practice of increasing the quantity and quality of traffic to your website through organic search engine results.” SEO is how marketers tailor their content to appeal to search engines like Google, Yahoo!, and Bing.

For example, you might search ‘affordable chardonnay near me’ on Google. The way that Google then provides results based on your search is determined by SEO. SEO is the tool that tells Google, “Hey! This is what information my website has, this is what I’m talking about, and these are the types of people that would find my website interesting!”

One of our favorite SEO tools to use at Digital Storyteller is Semrush. Semrush is an online tool that collects research on your business’s SEO, pay-per-click (PPC), content, and social media efforts. It can also help you identify keywords you are currently ranking for or targeting.

If you didn’t know, information about ranking keywords is critical to making your way up the Google Search Engine Results Page (SERP).

For more on all things SEO, check out this article for 10 tips to maximize your SEO efforts, this article we wrote on why SEO is important, or one of our more recent articles on how to effectively combine SEO and content marketing!

Search Engine Marketing (SEM)

Parallel to SEO, we have SEM. You guessed it, another crucial piece of digital marketing.

SEM stands for Search Engine Marketing, which is, according to Optimizely, “a digital marketing strategy used to increase the visibility of a website in search engine results pages (SERPs).”

In the past, SEM typically encompassed both organic and paid search. Today, however, it almost exclusively refers to paid search advertising.

SEM is “the act of using paid strategies to increase search visibility.” Every day, businesses pay big money for their ads to rank first on search engine results pages. Hint: You can tell when businesses are using SEM by the bold “Ad” text that accompanies a search result.

SEO, SEM, why so many acronyms?! While these two may seem like the same thing, they are actually quite different. Learn more about the difference between the two in this article.

Email Marketing

Email marketing is not dead. It has, however, become increasingly difficult to grab the attention of clients and prospects through their inboxes.

Email marketing, as defined by MailChimp, is “a form of direct marketing as well as digital marketing, that uses email to promote your business’s products or services.”

Email marketing can be used to promote your latest items and offers, or it can assist with lead generation, brand awareness, relationship building, and customer engagement. 

The biggest challenge with email marketing is breaking through the noise. The best email marketing experts:

  • Craft compelling campaigns
  • Understand optimal audience outreach
  • And analyze customer interactions and data

Email marketing software companies, including HubSpot, Campaign Monitor, Constant Contact, and more, help perfect your email marketing campaigns by providing automated email workflow options as well as in-depth email marketing data (i.e. open rates and click-through rates).

Data Analytics

Marketing without data is merely speculation—a guessing game of what you hope will land with your prospects and clients.

At Digital Storyteller, we recognize that data is a crucial part of your digital marketing strategy. When it comes to our analyses, we use Google Analytics (primarily for website data), Semrush (for keyword analytics), and additionally Metricool (to look at social media performance).

Design and Website

As far as design goes, making sure your brand is consistent across all digital and print platforms helps clients and prospects recognize your brand immediately. 

Contrary to popular belief, design—whether for marketing collateral, social media, or a website—is more than just pictures and drawings. Venture and Grow state, “Graphic design is the art of communication that requires creativity and a systematic plan to solve a problem or achieve specific objectives.”

So, what makes effective design in digital marketing?

Effective graphic design “highlight plans to discover what makes [content] genuinely stand out and get shared.”

Additionally, top-notch design helps:

  • Build trust
  • Increase brand awareness
  • Influence the customer decision-making process

Don’t underestimate this component’s power in your digital marketing strategy. After all, you could have amazing content that gets swept under the rug because of poor presentation.

Speaking of design, let’s take a moment to chat about your website. Your business’s site isn’t just an opportunity to showcase your branding and design. Whether or not your site is easy to navigate and structured properly has a huge influence on how (and IF) clients and prospects will interact with your brand.

So, take a minute to ask yourself these questions: Is my website easy to navigate? Is it nice to look at? Does it lead people on a journey to find out more about my business?

Social Media Marketing

Of course, social media is a huge pillar in your digital marketing strategy. The platforms that you use (and that are essential to your digital marketing strategy) depend heavily on your target audience. Ask yourself where your prospects spend the most time, and where they are most likely to be influenced to trust a brand.

To learn which social platforms your business should be on, read our article “Financial Services Companies: Which Social Media Platforms Should You Be On?”

Social media marketing includes any content that is released via a business’s social media channels. When it comes to a business, however, it’s not all fun and games. Crafting the perfect social media marketing strategy to fit into your larger digital marketing strategy is more complicated than posting on your own Instagram or LinkedIn.

Social media marketing is integrated and strategic. It takes hard work. Everything that pushes to social media must mirror the messages that are used throughout your business.

Social Media Analytics

Analytics are also crucial to your social media marketing.

This data can help you discover what types of posts do or don’t do well and why. With this data, social media marketers can better tailor their strategies for their business’s benefit.

Digital Storyteller is Here to Help

We know, there is a lot that goes into a successful digital marketing strategy. At Digital Storyteller, we like to think of your digital marketing strategy as a giant system of gears working together. Content is at the heart of this system and drives all of the marketing components like SEO, SEM, social media marketing, and so on.

The system would fail without each gear in place. So, how does your digital marketing strategy measure up? Read on to learn how to measure the success of your digital marketing strategy. You might be surprised by how your business is really doing.

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Digital Marketing Trends for the New Year

Digital Marketing Trends for the New Year

And just like that, it’s 2022! We hope your New Year is going wonderfully. 

In celebration of the New Year, we’d like to address some digital marketing trends for the new year. We know… Digital marketing trends are always changing. It can be hard to keep up! But it’s crucial to identify current trends and strategies for your businesses, and we’re here to help. 

Let’s get into it.

Video Marketing

We’ve written about it time and time again. Video marketing is, and will continue to be, an absolutely critical part of your digital marketing strategy in 2022.

Not convinced? Research according to Hubspot shows that video will account for nearly 82% of consumer internet traffic. Wowza!

For those of you who flinch at the word ‘video’ or the idea of crafting one yourself, don’t worry. We promise it’s not as scary (or expensive) as you think. All you need is a quality camera and a microphone. (Even a smartphone can work in most cases!)

To increase search traffic to your website, HubSpot recommends you:

  • Make sure your video contains useful information to solve your ideal customer’s problem
  • Optimize your video on YouTube using relevant keywords

The title of your video is also important. For example, someone would be more likely to click on “how to cook the perfect scrambled eggs” over “how to cook eggs.”

The bottom line about video marketing is: Video is the preferred form of content by all social platforms right now: Instagram, TikTok, YouTube (of course), you name it.

Don’t be discouraged if there is already content out there that is similar to your video (in fact, we guarantee that there will be). The most important thing is finding a way to make your content stand out, says HubSpot.

Honestly, we could talk your ear off about video (and we probably have…) We’ve written about how Instagram reels support your social media marketing strategy and how to connect with your prospects using video. What’s that? You haven’t read those articles yet? Finish this one and then get to it!

SEO

It’s time to brush up on your SEO skills. Search Engine Optimization is still as important as ever. Quality, thought-out SEO is the bread and butter of increasing traffic to your site.

Search engine algorithms, however, are always changing. In fact, a really awesome feature that Google’s algorithm has now adopted is the ability to differentiate between search and intent.

What does this mean? (Aside from a very happy SEO manager on our team…) Google search intent, according to Yoast, is “the term used to describe the purpose of an online search. Google wants to rank pages that best fit the search term someone is using, as well as the search intent behind the search query.”

Because of this new feature, it is crucial that you “segment queries that you want to rank for and make competitor analysis a big part of your SEO strategy,” according to HubSpot.

It’s crazy to think that Google is now smart enough to interpret why you are searching for what you’re searching for.

Optimize Content for Voice Search

This is a trend we mentioned back in November in our top five digital marketing trends you can’t ignore article. And guess what? It’s still relevant.

Thanks to AI-powered voice assistants (like Siri, Google, Alexa, and Cortana), millions of people every day search for things online without even touching or being near their phone or computer. User experience and web accessibility today are so important.

This considered, it has become all the more important to optimize your content for voice search. Start 2022 off with a bang by doing so. Not sure where to start? Contact our team today.

Social Media

Truth be told, it feels a little silly to even have to mention social media on this list of digital marketing trends. You’re ten steps behind your competitors if your business is not:

  • Active on social media
  • Providing engaging and informative content on a consistent basis
  • Interacting with prospects and clients

We recommend our clients have profiles on at least:

  • Facebook
  • LinkedIn
  • Instagram
  • Twitter

The platform that you place the greatest amount of attention on will depend on your business’s unique goals and target audience. For example, if you’re selling branded hoodies to Gen Z, Instagram is likely your best bet. If you are an insurance broker, however, you might opt for the more professional nature that LinkedIn offers.

Still don’t believe in the power of social media? According to DigitalMarketing.org, “3.96 billion people use social media today, which accounts for roughly half (51%) of the global population.” Wow!

Think: This is a huge loss for businesses who opt out of a well crafted social media marketing strategy. If they want to stay relevant, the more traditional companies (who are fearful or overwhelmed by social media) need to learn how to adapt.

Rentech Digital recommends that businesses use social media to not only attract prospects but also to retain them. Remember, the more frequently a prospect sees your brand, the greater opportunity to build a trusting relationship with them—and ultimately to convert them into a client.

For those of you who are interested, read on to learn which social media platforms your business should be on and why.

What Is YOUR New Year Resolution? (Marketing Edition!)

Will you outsource your marketing this year? Get your team on a weekly Instagram reel to boost social engagement? Take a course on SEO? Let us know your 2022 New Year Resolution, and if there’s room for our team to help!
Read on to hear our team’s 2022 New Year Resolutions. Cheers!

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Let’s get REEL! How Instagram Reels Support Your Social Strategy

Let's get REEL! How Instagram Reels Support Your Social Strategy

In a world where we have varying options on how to engage with potential clients, reels open the door to adding your personal flair. From informational how-to videos like how to make your grandma’s top-secret cookie recipe to a silly clip on your opinion of this week’s Bachelor rose ceremony, the possibilities are endless.

Read more
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Social Media Brand Awareness Metrics: More Than Likes and Comments

Social Media Brand Awareness Metrics: More Than Likes and Comments

When most people consider their brand’s success on social channels they jump immediately to wanting tons of likes, comments, and followers on their profiles. While these factors are important in many cases, there’s more to social media than these tracking measures.

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Which Social Media Platforms Should I Be On?

person on iPhone visiting Instagram for financial services company

Financial Services Edition

As a B2B financial services company, you may be questioning whether having a social media presence matters for your marketing strategy. We’ll keep it pretty simple for you: It does.

Social media has become a critical part of any marketing strategy. Whether it be organic or paid, B2B or B2C, and so on, social media marketing plays an important role in strategizing for any business.

That being said, social media is constantly evolving and changing. While platforms are updated to best serve their users, it can make it complicated and challenging for marketers to keep up with. Luckily, we’re here to help.

One of the questions we get asked most commonly by new clients is, “Which social platforms should we be on?” Instagram, Facebook, LinkedIn, Twitter, TikTok, the list goes on!

Deciding which platforms work best for your business is important to ensure that you delegate your time and resources towards a strategy that’s going to move the needle for your brand.

Here are the top four social media platforms that we believe all financial service companies should be on.

Facebook 

Often known as the “original” social media platform, Facebook has begun to drop slightly in usage and engagement. While this is the case overall, it still plays an important role and holds unique value in the world of social and business.

Facebook is approaching its 20th anniversary following its creation in February 2004.

Pay-to-Play Platform

In recent years, however, Facebook has become largely a pay-to-play platform. While paid ads aren’t necessarily mandatory for success on the platform, statistics show that putting a little money behind your Facebook strategy has the power to make a significant difference.

Facebook takes its in-house marketing one step further by providing real-world case studies of companies that have found marketing success on their platform. These various stories provide quotes, statistics, and examples from clients on how they successfully implemented strategies on the platform. 

At Digital Storyteller, we have adopted similar strategies when working with Facebook. Each of our clients has a Facebook page to which we share organic content. We produce custom content weekly and share blog posts, visuals, infographics, videos, and more.

We pinpoint each client’s strongest posts and work with them one-on-one to set a realistic budget to boost posts. Following post boosts, we delve into reporting to assess the success of each given boost.

Facebook provides statistics on reach, clicks, cost per click, and engagement in a simplified easy to navigate manner that makes sharing reporting with our clients a breeze.

Bottom line: Make sure your business is on Facebook.

Instagram 

We’re going to give Instagram a nickname: “The social beast.” Since its launch in 2010, it’s amassed over 500 million users. Over 60% of users log in daily, averaging a total of 3.5 billion likes.

Instagram is a critical platform for businesses in addition to individuals. Nearly 49% of businesses have accounts on the platform.

Compared to its competitors, engagement with brands on Instagram is 10 times higher than on Facebook, 54 times higher than on Pinterest, and 84 times higher than on Twitter. Safe to say they’re doing pretty well!

But how can you tailor your Instagram account to your audience? Like Facebook, Instagram offers a pay-to-play option by boosting your posts to a relevant audience. That being said, this doesn’t hold quite as much power with Instagram as it does with Facebook. 

The Instagram Algorithm

But why? Instagram’s goal is to create organic experiences for its users. Its algorithm pays attention to what videos users watch, what they like, which hashtags and account types they follow, and what engagement types they utilize.

Based on these factors, Instagram creates an organic experience by boosting and promoting what they think a user is most likely to want to see. 

Based on these features, it’s important that when using Instagram as a social media platform, you tailor it to your audience. One of the best ways that we’ve found to do this is by getting down to the nitty-gritty and creating buyer personas.

Imagine you’re selling cookbooks… Your target audience might be Jennifer. Jennifer is a married stay-at-home mother of three that loves following influencers that share new recipes and provide inspiration for her girl’s night dinner party. Jennifer is a perfect audience for this product.

Things might be different if Jennifer were a 12-year-old girl that uses Instagram to follow her favorite celebrities and learn the latest TikTok dances. Making sure that you identify and tailor to your ideal audience is critical to the success of your Instagram usage.

Read on to learn more about the ever-changing Instagram algorithm.

Curating Your Business’s Profile

Another important aspect of Instagram usage for businesses is curating your bio and your feed in a way that represents your brand voice. Consistency is key when it comes to creating content that your audience genuinely wants to see. This starts with your bio.

Your Bio

Your bio is the first thing people see when they visit your account, essentially representing your virtual storefront. You have a short blurb—150 characters to be exact—to communicate who you are, and what you do, and ideally convince people to follow you and engage with your content.

While Instagram does not allow for direct linking in their captions or individual posts, they offer the opportunity to share one single link in your bio. Better use it wisely to make sure you’re directing traffic where you want it!

One helpful resource that we can’t commend enough is utilizing a link-building site such as those offered by Metricool or LinkTree. Both of these sites create the ability to provide users with multiple site links within one URL.

Your Feed

Having a well-curated Instagram “feed” or “grid” is also a huge advantage to developing a professional business Instagram account. As previously mentioned, consistency is key.

Whether it be utilizing personalized photos, brand colors, a common filter, or even a precise layout template, there is a multitude of options when it comes to how to set up your post grid.

Here’s an example of one of our client’s Instagram grids, Voit Real Estate Services.

screenshot of voit commercial real estate services instagram feed

Cool, right? Nice, clean, and cohesive.

Moreover, it’s a notable fact that about 40% of customers respond better to visual content than they do to written content. With this in mind, it’s no surprise why Instagram is a massive hub for marketing opportunities.

LinkedIn 

LinkedIn is a marketing MUST in the financial services industry.

LinkedIn differs from other social media platforms because it is more strongly based on personal and genuine connections. The “friend of a friend,” “we met at a conference,” or “Oh, I recognize that brand name” attitudes go a long way in today’s day and age.

The unique circumstances that we’ve experienced over the past two years as a result of the ongoing pandemic have further changed the name of the game when it comes to professional networking.

A survey conducted by LinkedIn themselves revealed that “B2B buyers are 5X more likely to engage with a professional via a warm introduction than via cold outreach.”

While cold outreach is a reality for many B2B businesses, LinkedIn offers these businesses the capabilities to connect with their audiences on a more personable level. Additionally, it allows for more accurate persona targeting. 

In addition to serving as a virtual professional networking platform, LinkedIn has positioned itself as a leader in news delivery. The same survey previously mentioned also shares that 79% of small and medium businesses consider industry-specific news/articles to be the most valuable content shared on social media.

Social media platforms, LinkedIn in particular, have enabled users to identify the news sources and industries that they want to hear from specifically. Rather than opening up the morning paper and spending time sifting through the garbage that you’re not interested in, hop on your LinkedIn account in the morning to see what your followers have posted lately.

The people that users follow and engage with are often the sources that they want to hear from. Enabling users to deliberately identify the sources they want to see and eliminate (or simply just not follow) the ones that they don’t wish to see content from has turned LinkedIn into somewhat of a personalized news outlet.

Twitter

Twitter is a great platform to keep your business’s personality alive.

While financial services companies more commonly target more professional and refined messaging, Twitter offers the opportunity to incorporate your brand’s voice more casually.

Just Say It!

Being that Twitter only allows posts that contain up to 280 characters, you’ve got to figure out what you want to say and just SAY IT. Removing the fluff and the details is sometimes the best way to get across and be remembered for what’s important.

While starting your morning by reading the latest news articles or blog posts might be your favorite part of the day, sometimes all your consumers want is quick, simple facts. You’ve been there, right?

Adding a human element to your brand is made easy by the relaxed, casual voice most often shared on Twitter. Whether it be celebrating a holiday with a hashtag (#HappyWomensDay or #HappyEarthDay), often your company’s tweets don’t need to be as much of an event as full-blown in-depth content.

While writing a blog post or filming a video might take hours of prep, edits, and reviews, posting a one-line tweet may be an opportunity to simplify.

That being said, a successful Twitter strategy usually involves tweeting from five to 15 times daily. While each tweet in and of itself may be a simplified way to reach out to your audience, doing it more often is what’s going to help move the needle.

It’s often noted that it takes people an average of 11-13 touch points before a message truly breaks through. With that in mind, tweeting five to 15 times a day provides an opportunity to interact with your audience on various occasions.

Compliance and The Financial Services Industry

Another important fact about Twitter for financial services companies, in particular, is the growing challenge of compliance with specific Twitter terms and conditions. The financial industry is highly regulated on social media.

Companies need to state clearly who they are, and what they do, clarify any risks or benefits, and provide full transparency about all of their services. GDPR is therefore not the only regulation that financial businesses need to obey. 

Many other directives were implemented in banking industries in the last few years. Whilst not all of them have a direct impact on social media communication, some of the legal initiatives do.

Take a look at MiFID II, which is focused on refining consumer information and making it easier to understand.

Pinterest

You might be surprised to see this one on the list, but we couldn’t help but mention it: Pinterest!

Pinterest is an image sharing and social media platform with over 400 million monthly active users. These ‘pinners’ (so they’re called!) use the platform to find inspiration and ideas for their interests and hobbies.

At Digital Storyteller, we’ve recently started to grow our Pinterest account by sharing information on user-generated content, site audits, client management, organic marketing, and more!

Pinterest is awesome because you can link to specific URLs on your “pin,” which grabs a user’s attention through use of a photo.

For example, below is a ‘pin’ we posted when the news hit that Elon Musk decided to purchase twitter. This pin linked to our article titled, “What’s Going to Happen to Twitter?” Here, we provide more information on the subject.

Using Pinterest in this way builds your business’s credibility, and encourages users to come back to your page for inspiration or information.

So, give it a shot! Get your business Pinning.

A Final Word

When it comes to implementing an effective social media strategy for your business, there is much to be considered. Various platforms perform better or worse based on your business type, target audience, and intended involvement level.

If you’re looking for support in developing a social media strategy and don’t know where to start, reach out to our team of experts at Digital Storyteller.

With our specialization in the financial services industry, our experience and expertise is growing stronger every day. Call or contact us today for more information or to schedule your FREE brand storytelling session.

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