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How to build audience trust on social media in financial services?

October 12, 2022

David Jiménez García

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Client, Social Media & Content Lead

When creating content for asset management firms, one needs to think about how social media fits within the overall campaign strategy. Social media aims to create brand awareness. However, awareness, without trust in the brand does not result in client retention. Here are some tips on building trust through social media:

Expert Content

Creating content that portrays your company as an expert in the industry can be a challenging task. Do not let your efforts get lost without a real purpose. Here are our tips to develop expertise on social media:

Know your audience: Identifying your target group and what platforms they frequent can help you define what successful content means for your company and potential clients.

Become active on social listening to identify your audience’s needs and their opinion on specific topics/content – this will help you create a more tailored approach to content. Expressing your views about upcoming topics that may have an impact on their economy and lifestyle can help you become their expert.

Keep track of current economic trends: Keeping your profile updated with trends and new financial opportunities will help you capitalise on their popularity and boost exposure by ranking your name in the list of results generated by many search tools.  

Make your posts effective by inserting real purpose under each element: To get people to see you as an expert in the field, you need to give them a reason why. How you communicate with your audience has an impact on how you are perceived by your audience. To be efficient with your message on social media you need to understand that each element of your post is an opportunity to provide value: memorable copy, clear call to action, visibility from mentioning your experts, relevant keywords in hashtags, and impactful high-quality videos and images.

Create the perception of expertise by building a profile that showcases relevant content based on views from your experts and internal talent. This will help your brand explain why you are different, earn credentials and more trust from customers.

Surround your profile with voices of expertise: Attend industry related conferences and events. Participating can portray you as a key opinion leader within the sector, and therefore a solid option for future clients to consider.

Collaborate with your peers: Within the financial industry, there are multiple companies competing to get the attention of the same small target group. When it comes to talking to a similar audience, driving the agenda is an effective way to dominate the field. This can be achieved by having dialogue with external experts, inviting absolute experts to participate in your content and organising round tables to discuss industry-based topics… With a better reputation and more visibility, you’ll have a better chance of achieving your goals.

Hire an agency to help you create a profile of expertise: Successful social media profiles take time and many resources. Hiring a social media agency means hiring a team of professionals with dedicated resources that can save you time and help you navigate the process to achieve your goals.

Compelling Content

Having the right type of content on your website is a great opportunity to engage consumers with your message and build your community. Here is a list of our top 3 tips to create compelling content for social media:

Avoid articles focusing on the organisation, products, or solutions. Publish content followers would like to read. For example, market insights from financial advisors. These tend to perform well as they are often seen as personal views from thought leadership employees.

Providing social channels with content on a regular basis helps portray your company as a leader in the field. However, do not publish if your company has nothing to say.

Create a content calendar. In order to create compelling content that resonates with your audience you need to have a solid plan behind it. Create a content calendar to ensure social channels are regularly fed with content about the themes that matter the most to your company and industry sector.

Engagement

Addressing comments on social media gives your company the opportunity to guide and shape conversations about the brand. Engage in social media messages and conversations. Your company should aim to foster dialogue. Do not ignore comments. Followers expect answers and online support in a quick turnaround. If marketing teams take days to respond, your brand can be perceived negatively. Also, unaddressed messages may be interpreted as disinterest and contribute to building an untrustworthy reputation. Your company will benefit from having a community manager strategy in place that aligns with compliance requirements in order to meet expectations from followers, generate engagement and build relationships in a ‘safe’ manner.

Lead gen forms

A lead generation form is a LinkedIn ad that aims to generate high-quality leads at scale, capturing emails and other relevant information of potential customers, and ultimately generating measurable campaign revenue (cost per lead/ROI). Lead generation forms have become an important marketing solution for modern marketing teams. However, the big challenge for companies is LinkedIn’s GDPR requirements approved in 2018 that include the following requirements regarding paid ad targeting:

Responsibility of the GDPR-compliant data remains with advertisers (matched audiences).

Members have the option to opt out of the use of their demographic data. Including from standard information such as Job Title, Job Function, Seniority, Skills, etc.

User journeys can no longer point to a generic area of a website, it must be explicit as to what the Privacy Policy is and how an advertiser intends to use the data.

User data collected via Lead Gen Forms must be deleted after 90 days. Also members can revoke their submissions at any time.

Humanise the brand

Banking, finance, and asset management are industries that are often perceived as complex, rational and unapproachable due to the use of highly technical language. Minimise the use of ‘corporate speak’ and present ideas in a way that can be easily understood by the audience. Also, bringing a human story (known in marketing as storytelling) or putting a face to the investment subject content is an opportunity to re-examine and form a deeper connection with the audience. In the age of ESG, brands are now empowered to share and sell their values in a form that feels more emotional and less like advertising. As opposed to merely technical investment viewpoints and images of financial advisors portrayed in suits, the opportunity for asset management brands is to mix technical and human stories to connect with audiences making stories more ‘real’. In addition, your company may want to explore implementing an advocacy programme to give employees a voice on social media.

Advocacy programme

An advocacy programme helps your company establish employees as industry experts while raising the brand’s visibility through shared content. Asset management firms usually have internal policies and strict procedures that prevent employees accessing social media channels as part of their risk management plan. An advocacy programme provides an easy way for employees to discover pre-approved and compliant articles which can be shared within their social networks. Content published via an advocacy programme isn’t perceived as corporate and promotional which may result in boosting content reach and engagement.

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