How the Finance Industry is Leveraging Social Media

Most industries today are well aware of the value social media and how it can impact their businesses, but when it comes to financial institutions embracing these social networks, the majority of them fail to leverage them in the best way possible. Simply posting updates about special weekend hours and Tweeting about certain bank-related holidays is not enough to build a presence online. So how can the finance industry leverage social media in the digital age?   

In the same way other businesses have already socially succeeded this last decade, financiers can now use these networks to leverage more attention to their industry on these popular platforms. They are now effectively engaging with this huge online audience that is communicating and sharing important data online. We will see even more financial faces going social to amplify their important money-related messages.

TWITTER SITTER

We are all living and dealing in a “real-time” environment on the world wide web, and today our  financiers are looking at the Twitterverse as a very effective way of communicating their vital financial information.In a volatile stock market, some are forecasting sites like Twitter will give these traders a competitive advantage in this fast moving marketplace.

These financial firms are already tweeting their way to success on this rising platform. Look at these inviting statistics that show a significant number of money conscience Twitter followers:

  • American Express: With only 11,000 Tweeters following credit cards companies, AmEx blows away the competition with some 400,000 followers on the Twitterverse.
  • Vanguard’s investment tips have around 60,000 Tweeters listening to their advice.
  • iTrader is tweeting ETF (Exchange Traded Funds) messages to over 43,000 followers.

 

FACEBOOK FACTOR

Never to be outdone, number one Facebook is also garnering huge online attention in this arena with their own impressive numbers:

  • AmEx has over 2.4 million likes on their numerous Facebook pages.
  • The Progressive and impressive Insurance girl Flo has an average of 1,100 likes for each of her posts.
  • With a philanthropic approach, Chase Bank has a stunning 3.3 million likes.
  • Charles Schwab has over 18,000 Facebook fans.

These customer engagement strategies show that content is still King and marketing on these overwhelmingly popular platforms is very important for financial success.

THE YOUTH BOOTHnetwork

For our younger online social spenders, financial planning can seem difficult, challenging and sometimes viewed as completely unnecessary. Here is where our financial advisors can truly shine, guiding today’s young people into a comfortable retirement plan. With a quick easy, grab using a low investment strategy, financiers will entice up-and-coming workers to invest a little bit today to become millionaires when they reach their retirement years.

It all starts now and more of our financial leaders will become increasingly available to us online.  Look for them on the internet and they will be there to support us all in our important financial decisions.

For more information: 4 ways Finance Brands offer customer utility via social media

Follow Megan Ritter on Twitter @megmarieritter

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