The Value of Competitor Social Media Analysis
Social media for banks is a necessity. That’s a given. You meet customers where they are, and today, that’s online. But customers (and potential customers) are not just engaging and interacting with one bank’s website, apps and social accounts. They are seeing competitors’ accounts, too. Bank marketers must leverage social media analytics to understand what works for their competitors—and figure out how to do it better.
A competitive analysis of social media data in the banking industry can help guide your strategy by quantifying the successes and failures of your rivals. This is especially true of community banks, which may feel they are fighting an uphill digital battle against the resources of fintech companies and enterprise financial institutions. Thankfully, lots of competitor data is publicly available. Plenty of successes and blunders are out there for any savvy bank marketer to learn from. With the right social media analytics tool, this data could be the key to keeping up in today’s fast-paced environment.
There’s a lot of powerful data on social media, and banks can leverage this to their advantage. Analytics and competitive insights empower bank marketers—even at smaller institutions—to be smart and efficient with both their time and dollars. You cannot differentiate your institution unless you know and understand the stories your competitors are telling.
You also need to be aware of the quality of your competitors’ ads, calls to action and websites. If your marketing materials are not comparable you could lose customers. It is more than just optimizing a landing page—there needs to be a quality experience at every possible touchpoint. To start understanding competitors, consider these three tips when analyzing social media for banks:
1. Benchmark your strategy. Benchmarking is the foundation of any competitive marketing strategy because it shows how measuring your competitors’ performance can help you step up your bank’s marketing game.
With social listening tools that enable tracking competitors’ social media activity, leaders can see the organization’s performance benchmarked against competitors and get a clear picture of where social needs more investment to stay competitive.
For instance, if you’re working to understand how often your team should be posting to social media channels, look at how often a competitor is posting. Or if you’re aiming for 50 percent audience growth and see everyone else has 5 percent month-over-month, you know to adjust expectations to be more achievable.
2. Understand what is resonating. When financial institutions embrace social listening, they gain clear insight into how other brands are producing engagement on social channels and resonating with customers. One bank finding resonance could be an outlier, but if multiple competitors are using the same technique, your brand can use those trend insights to craft even more relevant messaging and maintain an advantage against the competition.
Track which trends and are getting high engagement for your competitors. Which topics that drive the most engagement? Certain aspects of storytelling? Or maybe specific kinds of posts, such as short-form videos, resonate best. Understanding what works for your competitors will teach you what works for you. Conversely, if they have posts that are driving little to no engagement, learn from their mistakes and avoid spending your time and dollars doing the same thing.
3. Identify proactive opportunities. Monitoring competitors on social media can provide unique insights and offer proactive opportunities for your institution to pick up a customer. For better or worse, social media gives us all a view into a brand’s dirty laundry. If you notice a competitor getting social media complaints on a particular service or product, this could be an opportunity for you to target that audience and tell them how you do it better.
Are people posting messages on your competitors’ pages about how hard it is to reach a customer service representative with them? Grab the opportunity and design a targeted paid campaign that emphasizes your institution’s excellent customer service.
These moments may not come often or easily, so stay vigilant to make the most of them.
Competitor social media analysis is a vital tool to help smaller financial institutions remain competitive. It keeps your finger on the pulse of what’s happening in the industry while identifying what’s working—and what’s not—for the bigger players.
This article was originally published on ABA Bank Marketing.
The Value of Competitor Social Media Analysis
Social media for banks is a necessity. That’s a given. You meet customers where they are, and today, that’s online. But customers (and potential customers) are not just engaging and interacting with one bank’s website, apps and social accounts. They are seeing competitors’ accounts, too. Bank marketers must leverage social media analytics to understand what works for their competitors—and figure out how to do it better.
A competitive analysis of social media data in the banking industry can help guide your strategy by quantifying the successes and failures of your rivals. This is especially true of community banks, which may feel they are fighting an uphill digital battle against the resources of fintech companies and enterprise financial institutions. Thankfully, lots of competitor data is publicly available. Plenty of successes and blunders are out there for any savvy bank marketer to learn from. With the right social media analytics tool, this data could be the key to keeping up in today’s fast-paced environment.
There’s a lot of powerful data on social media, and banks can leverage this to their advantage. Analytics and competitive insights empower bank marketers—even at smaller institutions—to be smart and efficient with both their time and dollars. You cannot differentiate your institution unless you know and understand the stories your competitors are telling.
You also need to be aware of the quality of your competitors’ ads, calls to action and websites. If your marketing materials are not comparable you could lose customers. It is more than just optimizing a landing page—there needs to be a quality experience at every possible touchpoint. To start understanding competitors, consider these three tips when analyzing social media for banks:
1. Benchmark your strategy. Benchmarking is the foundation of any competitive marketing strategy because it shows how measuring your competitors’ performance can help you step up your bank’s marketing game.
With social listening tools that enable tracking competitors’ social media activity, leaders can see the organization’s performance benchmarked against competitors and get a clear picture of where social needs more investment to stay competitive.
For instance, if you’re working to understand how often your team should be posting to social media channels, look at how often a competitor is posting. Or if you’re aiming for 50 percent audience growth and see everyone else has 5 percent month-over-month, you know to adjust expectations to be more achievable.
2. Understand what is resonating. When financial institutions embrace social listening, they gain clear insight into how other brands are producing engagement on social channels and resonating with customers. One bank finding resonance could be an outlier, but if multiple competitors are using the same technique, your brand can use those trend insights to craft even more relevant messaging and maintain an advantage against the competition.
Track which trends and are getting high engagement for your competitors. Which topics that drive the most engagement? Certain aspects of storytelling? Or maybe specific kinds of posts, such as short-form videos, resonate best. Understanding what works for your competitors will teach you what works for you. Conversely, if they have posts that are driving little to no engagement, learn from their mistakes and avoid spending your time and dollars doing the same thing.
3. Identify proactive opportunities. Monitoring competitors on social media can provide unique insights and offer proactive opportunities for your institution to pick up a customer. For better or worse, social media gives us all a view into a brand’s dirty laundry. If you notice a competitor getting social media complaints on a particular service or product, this could be an opportunity for you to target that audience and tell them how you do it better.
Are people posting messages on your competitors’ pages about how hard it is to reach a customer service representative with them? Grab the opportunity and design a targeted paid campaign that emphasizes your institution’s excellent customer service.
These moments may not come often or easily, so stay vigilant to make the most of them.
Competitor social media analysis is a vital tool to help smaller financial institutions remain competitive. It keeps your finger on the pulse of what’s happening in the industry while identifying what’s working—and what’s not—for the bigger players.
This article was originally published on ABA Bank Marketing.
Retail banks in the U.S. are facing a major customer attrition challenges. According to a recent Bain report, customers make as many as 55 percent of financial-related purchases from their primary bank’s competitors. While primary banks may be able to retain customers’ savings and checking accounts, the report suggests that they’re likely losing out on lucrative sales when it comes to loans, credit cards and investments.
Considering that almost one-third of those who defected from their primary bank did so in response to a direct offer from a competitor, wise marketers will up their customer engagement and outreach efforts to retain more customers. Affordability of products is the top reason for customer defection, which marketers may not have much say in, but it isn’t the only contributing factor. Digitization has also been a major catalyst. Namely, the strong digital products and experiences that some banks offer—and others do not.
Bank marketers who can jump onboard the digitization train to meet customers where they are with engaging, valuable messaging will be much more likely to keep customers coming back again and again for each of their financial needs. The following strategies can help:
1. Put the human element front and center
Traditional banks have an innate advantage over digital direct banks: The human touch. Leveraging this benefit, especially when it comes to increasingly digital customer interactions, can lead to measurable improvements in customer retention.
One way to ensure the human touch remains part of every customer touchpoint is to focus on personalization. A February Insurance Thought Leadership piece revealed that 72 percent of people ignore marketing that’s not highly personalized. So targeting relevant content to the right recipients is essential, especially when digitization can easily strip the human element out of an interaction. Personalizing messaging and services to be relevant and valuable to the specific needs of each customer can bring the human element into focus even in a digital world.
One way to create more relevant, personalized outreach is to practice social selling, or leveraging a bank’s employees on social media. People can relate more to other people than they can to big brand names. When your employees are the ones getting in front of customers virtually, it humanizes the digital customer experience and sets the stage for trusting and loyal relationships to come. What’s more, employees also tend to have further reach and engagement on brand-related social posts than brand pages alone, so they can expand the impact of your messaging exponentially.
2. Create digital pathways to human interactions
When considering how to anchor all digital marketing for financial services around the human element, keep in mind that every pathway should connect prospects and customers directly to a human.
For example, a social media post from an employee could include a link to a landing page on your website where visitors can learn more valuable information on the topic of the post. On that landing page, you can include valuable content, such as a guidebook, behind an information request form. When users submit their names and email addresses, they will receive the content and your sales team members can reach out to them directly with a human-centric, personalized outreach approach.
When prospects and customers know they’re just an email or phone call away from a real person at your organization, they’re likely to turn to you instead of an impersonal digital direct bank for their next financial need.
3. Focus on customer retention just as much as acquisition
Bringing in new prospects gets a lot of attention from financial services marketers, sometimes at the expense of retaining current ones. But focusing on customer retention and continuously improving the digital customer experience will help secure more revenue when it comes to additional services such as loans and credit cards.
Listen to the needs of customers and keep refining your personalization tactics to meet their needs. Every time you get in front of a current customer with relevant, valuable messaging or content, you help build trust in that relationship and increase the chances of that customer coming to you for whatever service they need next.
It’s true that people will always be drawn to brands that offer more affordable products and services. But money isn’t the only reason people look outside of their primary bank to fulfill their financial needs. Banks that differentiate by focusing on digitization alongside the human element will find that it’s easier to keep current customers from looking for greener pastures.
This was originally published on ABA Bank Marketing.
If you didn’t want to believe it before, digital banking is here to stay. While most were on the path toward digital, COVID vastly accelerated digital adoption. That behavior is unlikely to change: 84 percent of banking customers polled said they plan to maintain the same level of digital banking services post-pandemic. This is both a challenge and an opportunity for traditional banks.
The good news is that the key differentiating factor for traditional banks remains the same: human relationships with customers.
The challenge is that maintaining strong relationships in a digital environment can be difficult for traditional banks. And without strong anchoring relationships, banks miss out on valuable cross-selling opportunities and lose customers to competitors that offer better digital services. Customer defection can be costly, as it’s five to 25 times more expensive to acquire than retain customers—but increasing customer retention rates by a mere 5 percent can boost profits by 25 to 95 percent.
Banks that turn their focus toward strengthening digital customer experience can solidify relationships for the long term, secure more business with new and existing customers, and thrive well into the future.
HOW TO CREATE AN EXCEPTIONAL DIGITAL CUSTOMER EXPERIENCE
Delivering high-quality digital experiences is two-fold challenge for banks. First, traditional banks tend to struggle to design meaningful and emotional experiences in digital ways. Second, they struggle to deliver those experiences impactfully due to internal and external digital transformation hurdles.
With these two challenges in mind, bank marketers can lead their organizations to success by first focusing on their teams’ willingness to evolve and openness to the larger concepts of digital transformation. Without widespread buy-in, even a million of the fanciest bells and whistles on the market won’t help a bank evolve to meet and exceed consumers’ digital expectations.
Marketers must ensure an overall understanding of these four digital transformation initiatives and how they can help improve digital customer experiences and strengthen human relationships:
1. Continual tool improvement and refinement. Most financial institutions likely accelerated the pace of their digital transformations in recent years and they need to keep up the momentum. In fact, the primary goal behind digital transformation for 79 percent of respondents in one survey was to improve customer experience. You can’t improve experiences without continuous transformation efforts.
Gather data to show how customers are using your digital tools and continually evaluate how to improve your tools to create better and better experiences. Seeking strong and strategic partnerships with fintech vendors is an excellent way to stay on top of the latest innovations in technology and continue providing the best digital services.
2. Optimal onboarding. Your team and fintech partners might put a lot of time, money, and effort into building new and impressive digital widgets—but if your customers don’t know how to use them, they won’t bring any value. That’s why part of any bank’s digital transformation strategy should involve onboarding customers to ensure the adoption and use of new digital services.If new account openers don’t engage within the first month of opening an account, they likely never will. Encourage frequent and continued engagement by clearly demonstrating the value customers can find in your digital services and tools. Provide convenient and accessible customer support to keep the value stream flowing without interruption.
3. Transferring relationships to digital. Preserving human connections in the virtual world can be a challenge for banks accustomed to old ways, but with the right approach, digitization can actually help banks build and maintain stronger relationships. That’s why 72 percent of business leaders who responded to Harvard Business Review Analytics Services researchers said they expected the digital shift to create closer relationships with customers.
Take social media as one example. With an active social media strategy, loan officers can keep up with past customers and even get new prospects’ attention. And with the right social media management tools, marketers can help loan officers pull off social selling campaigns at scale. Ensure that customers also have a direct line to access employees who can facilitate customer service so that they always have a resource to answer questions and guide them along the digital journey without a hitch.
4. Constant value with content and data. The more value a financial institution can offer, the less likely customer defection will be. Provide useful information to customers through frequent social media content, blog posts, landing pages and more. Use targeting strategies such as paid social media advertising and create personalized content based on data. The more relevant the information is to your customers’ specific needs, the more valuable it will be. Personalize landing pages and gate information behind contact submission forms. When visitors exchange their contact information for the content they need, you can reach out directly to primed leads to continue the conversation with human-to-human touchpoints.
No matter the state of digital transformation, strong customer sentiment around digital banking is unlikely to wane. In fact, consumers are likely to expect better and better digital experiences from financial institutions as technology becomes an even bigger part of everyday life. Traditional banks that focus on creating exceptional digital customer experience based on human connection will thrive.
This article was originally published on ABA Bank Marketing.
Denim Social is proud to be featured in the American Banker Association’s 2023 report on The State of Social Media in Banking.
In the report, the American Bankers Association asked over 330 banks what they are doing with social media, where they see challenges and opportunities and what the future is likely to bring.
The report incorporates the survey findings with insight and best practices from other banks from across the U.S. and provides a list of 10 top takeaways to consider.
“Social media is the heart of social selling,” said Doug Wilber, CEO of Denim Social, which offers the only ABA-endorsed social media management platform for financial institutions. Social selling is the process of building relationships and brand awareness through selected social media platforms, with the aim of boosting not just awareness, but the bank’s sales results. It’s a way of connecting directly with prospects, and can be a powerful complement to tried-and-true methods such as cold calling and email marketing.”
Learn more about social media opportunities for banks by downloading the report here.
Consumers’ relationships with banks have changed a lot in the last decade. EY found that more than a quarter of bank customers worldwide tried neobanks in 2021 alone. According to Capco, 53 percent of millennials moved their funds to different banks from May 2019 to May 2021, and 42 percent of Gen Zers did the same.
Today’s consumers are quick to change services when something does not suit them. Though this shift has the potential to affect customer retention rates, it also provides an opportunity for institutions looking to acquire new customers.
Banks need to be using the most effective, up-to-date tools and tracking metrics if they want to stay competitive and gather valuable intel about conversions. That does not mean banks should be just capturing how many likes or comments their social sellers’ posts receive. They certainly should, but it’s more about shifting understanding of some of these vital metrics to leverage them to convert more customers. Tracking click-through rates, reach and how your offline conversions factor into customer acquisition are all critical for making the most of your bank’s social selling strategy.
Let’s get into the details.
Social selling: Now is the time to start.
First and foremost, if your social media goal is to increase customer acquisition to grow revenue, then a social selling strategy that measures conversions is best. If you are reading this, your bank is probably employing social selling already and you have realized what a boon it can be to your marketing efforts.
For those unfamiliar with social selling, however, it is the process of using associates’ social posts to lay a foundation for your brand and build relationships with customers. People want to communicate with other people (not a corporate account), and social selling allows your officers, advisors and more to connect with your audience on a more human level and engage within their own community networks.
What metrics are important in social selling strategies focused on conversions?
Leveraging a social selling strategy for customer acquisition is all about being able to gather and analyze more data about your customers. The more knowledge you have about how customers interact with your social selling efforts, the easier it is to adjust your approach to get the most conversions. By tracking important metrics and understanding how they impact customer acquisition, that data can inform your social selling strategies and bring in more customers.
To use social selling to its full potential and give your conversion rates a boost, focus on the following metrics:
1. Reach
You might be wondering why we’re talking about such a basic metric, but a combination of reach and following can be a strong measure of your conversion-driving social selling strategy. LinkedIn reports that associates have social networks 10 times larger than most brands.
Access to your social sellers’ connections is part of the beauty of social selling. Naturally, these connections extend your reach. With the right tools, your bank can measure its reach as a brand and as a collective of social sellers and then use that information to shape the social conversation, engage more deeply and drive more conversions.
2. Click-through rate
The click-through rate (or CTR) of any given post might be the most important number to track when it comes to building a social strategy that converts. After all, you want people to not just read your content; you want them to take action by clicking through to your landing page.
So, a good landing page is also essential. Your page should include all the benefits you can offer customers right away. It should also have an easy-to-spot form where users can input their information in return for educational content. The customer gets to download something that improves their business or life, and your loan officers or advisors get their contact information—it’s that easy.
The good news is that social selling can provide a major advantage here, too: Employee posts consistently have double the CTR of corporate brand accounts, according to LinkedIn.
3. Offline conversions
One thing to remember when you’re dialing in your social selling metrics is that your strategy still needs to connect with other tools (such as your CRM) that can tie back to and measure offline conversion and acquisition activities. It’s important to track metrics such as customer churn, net promoter scores and customer retention costs. This data is still vital in conjunction with traditional digital metrics.
Online, this connection to deeper institutional systems allows you to easily monitor and flag important actions, such as downloads, click-throughs and renewal rates. Then, you can create attribution data that ties conversions back to your social selling efforts. Without this connection, you would be unable to accurately measure offline conversions and how those numbers affect your larger social selling strategy.
In today’s tech-savvy environment, banks benefit by using the most effective, up-to-date tools and metrics to drive conversions with their social selling. Customer acquisition is essential to the health of any financial institution and there is no better way to meet those customers than by leveraging your social selling strategy to the max. Tracking critical metrics such as offline conversions, CTRs and overall reach must be part of that strategy if you want to take advantage of insights to convert customers.
This article was originally published in ABA Banking Journal.
Personal relationships are the bedrock of the financial advice industry. Nearly 75 percent of investors prioritize personal relationships when evaluating investment providers, Deloitte found. That’s why providers—even online brokers and robo-advisory firms—are taking care to preserve the human touch. Even with a growing trend toward digital automation to streamline trades and more, human connection is still paramount.
Bank marketers should reflect that by personalizing the digital experiences that they create for wealth management clients and prospects. Investors are accustomed to receiving personalized content online, including from their favorite retailers. They expect the same levels of customization from their service providers.
The benefits of customer personalization are mutual for investors and banks. When customers receive content tailored to their needs and financial situations, they understand their investment opportunities better and feel empowered to make the right financial decisions. And when they see wealth advisors addressing their specific needs—such as estate, retirement or education planning—they will naturally feel like those advisors understand their needs and can help them.
By contrast, when banks and advisors neglect personalization, they risk what Bain and Company calls “hidden defection,” or customers buying high-margin products such as loans, investments, and credit cards from competitors. Even if investors do not leave, they will go elsewhere to place their investments and purchase new financial products. Many customers who defect are attracted by personalized direct offers. That said, almost 80 percent of customers surveyed by Bain said they would have bought from their primary financial institutions if the banks had made equivalent offers.
It is clear that by creating improved digital experiences, banks can retain their clients’ business and even gain wallet share. So, how can they adjust their bank marketing strategies to prioritize customer personalization and build relationships?
1. Embrace a social selling strategy.
Whether financial advisors like it or not, their digital profiles affect how prospects view them. Almost 50 percent of investors say social media impacts whom they hire as a financial professional. And 33 percent report they seek financial advice online, according to Financial Advisor reporting on a Hartford Funds survey. Wealth advisors need to use social media to build rapport (and trust) with clients and prospects. When they demonstrate their value routinely, they’re more likely to be top of mind when customers are ready to purchase. That’s how strong digital profiles lay the foundation for social selling.
Social selling adheres to the same core principles as in-person selling: building relationships with customers, demonstrating knowledge, educating them and helping solve their problems. It all just happens online. Social selling empowers financial advisors to add value for customers through digital means when they wouldn’t have had the opportunity otherwise. Ultimately, sales reps who regularly share content are 45% more likely to exceed their quotas. So it is worth wealth advisors’ time to beef up their social profiles and engage with contacts.
2. Join customers on their preferred channels.
Investors are getting their information somewhere. it is essential to find out where that information comes from and to meet investors where they are.
Then, financial advisors should create profiles on those channels and organically engage with prospective clients. Why? Twenty percent of investors told Hartford Funds that a wealth advisor’s social media was their sole deciding factor when evaluating a financial professional.
For older investors, this might be traditional news channels’ Twitter or Facebook feeds. For younger investors, this could be newer channels such as TikTok. More than one-third of Gen Z Americans say they get financial advice from TikTok, and only 24 percent of investors in this age group get advice from financial advisors, according to a recent Vericast survey. That represents a big opportunity for financial advisors to win young investors’ business by meeting them through these channels. The key is to make any engagement enjoyable and authentic so that clients don’t feel like financial advisors are just trying to sell to them.
3. Create connected customer journeys.
Posting on social media is a great start, but if bank marketers want to drive ROI, they must create more robust digital journeys. The key to connected investor journeys is to avoid digital dead ends and always offer clear next steps.
At the start of the journey, wealth advisors must interact and create two-way dialogue online with existing audiences. They should then expand their audiences through tactics such as paid social media advertising, which can help them reach investors similar to their current customers or new target audiences.
In their social posts, financial advisors can drive audiences to content-driven landing pages that contain resources to download in exchange for contact information, which can help capture leads. Every step of the way, investors need to see the value, whether through educational content that wealth advisors share, access to more in-depth resources or complimentary consultations.
Banks benefit when they embrace customer personalization in their marketing strategies to keep customers engaged, build rapport and ultimately close more sales. That starts with giving wealth advisors access to the right processes and technology to deliver personalized education and offers. Once properly empowered, advisors can meet clients where they are, establish themselves as trustworthy, generate more leads and reduce the risk of “hidden defection” over time.
This article was originally published in ABA Bank Marketing.
The power of social media is undeniable. The ability of banks to engage with and influence customers and prospects via digital channels is essential to modern marketing strategies. Gone are the days when it was “nice to have” a presence on platforms such as Facebook, LinkedIn, Twitter and Instagram. Today, these pathways are helping banks to build relationships that were historically cultivated by tirelessly walking up and down Main Street, shaking hands and leaving behind business cards.
Unsurprisingly, the vast majority of banks are active on social media, and at least 7 in 10 have been for five or more years. Banks understand that engaging on social media is table stakes. They have to be there, but how they do it will vary. Being active and being effective are often two separate things. A key question for banks today is how to move beyond using social media to promote and strengthen their brand, and harness these platforms to foster sales.
In this case study, Denim Social and American Bankers Association show how banks are using social media to ramp up digital engagement and build sales. Download your copy here.
Connect & Convert on Social
The Value of Competitor Social Media Analysis
Social media for banks is a necessity. That’s a given. You meet customers where they are, and today, that’s online. But customers (and potential customers) are not just engaging and interacting with one bank’s website, apps and social accounts. They are seeing competitors’ accounts, too. Bank marketers must leverage social media analytics to understand what works for their competitors—and figure out how to do it better.
A competitive analysis of social media data in the banking industry can help guide your strategy by quantifying the successes and failures of your rivals. This is especially true of community banks, which may feel they are fighting an uphill digital battle against the resources of fintech companies and enterprise financial institutions. Thankfully, lots of competitor data is publicly available. Plenty of successes and blunders are out there for any savvy bank marketer to learn from. With the right social media analytics tool, this data could be the key to keeping up in today’s fast-paced environment.
There’s a lot of powerful data on social media, and banks can leverage this to their advantage. Analytics and competitive insights empower bank marketers—even at smaller institutions—to be smart and efficient with both their time and dollars. You cannot differentiate your institution unless you know and understand the stories your competitors are telling.
You also need to be aware of the quality of your competitors’ ads, calls to action and websites. If your marketing materials are not comparable you could lose customers. It is more than just optimizing a landing page—there needs to be a quality experience at every possible touchpoint. To start understanding competitors, consider these three tips when analyzing social media for banks:
1. Benchmark your strategy. Benchmarking is the foundation of any competitive marketing strategy because it shows how measuring your competitors’ performance can help you step up your bank’s marketing game.
With social listening tools that enable tracking competitors’ social media activity, leaders can see the organization’s performance benchmarked against competitors and get a clear picture of where social needs more investment to stay competitive.
For instance, if you’re working to understand how often your team should be posting to social media channels, look at how often a competitor is posting. Or if you’re aiming for 50 percent audience growth and see everyone else has 5 percent month-over-month, you know to adjust expectations to be more achievable.
2. Understand what is resonating. When financial institutions embrace social listening, they gain clear insight into how other brands are producing engagement on social channels and resonating with customers. One bank finding resonance could be an outlier, but if multiple competitors are using the same technique, your brand can use those trend insights to craft even more relevant messaging and maintain an advantage against the competition.
Track which trends and are getting high engagement for your competitors. Which topics that drive the most engagement? Certain aspects of storytelling? Or maybe specific kinds of posts, such as short-form videos, resonate best. Understanding what works for your competitors will teach you what works for you. Conversely, if they have posts that are driving little to no engagement, learn from their mistakes and avoid spending your time and dollars doing the same thing.
3. Identify proactive opportunities. Monitoring competitors on social media can provide unique insights and offer proactive opportunities for your institution to pick up a customer. For better or worse, social media gives us all a view into a brand’s dirty laundry. If you notice a competitor getting social media complaints on a particular service or product, this could be an opportunity for you to target that audience and tell them how you do it better.
Are people posting messages on your competitors’ pages about how hard it is to reach a customer service representative with them? Grab the opportunity and design a targeted paid campaign that emphasizes your institution’s excellent customer service.
These moments may not come often or easily, so stay vigilant to make the most of them.
Competitor social media analysis is a vital tool to help smaller financial institutions remain competitive. It keeps your finger on the pulse of what’s happening in the industry while identifying what’s working—and what’s not—for the bigger players.
This article was originally published on ABA Bank Marketing.
The Value of Competitor Social Media Analysis
Social media for banks is a necessity. That’s a given. You meet customers where they are, and today, that’s online. But customers (and potential customers) are not just engaging and interacting with one bank’s website, apps and social accounts. They are seeing competitors’ accounts, too. Bank marketers must leverage social media analytics to understand what works for their competitors—and figure out how to do it better.
A competitive analysis of social media data in the banking industry can help guide your strategy by quantifying the successes and failures of your rivals. This is especially true of community banks, which may feel they are fighting an uphill digital battle against the resources of fintech companies and enterprise financial institutions. Thankfully, lots of competitor data is publicly available. Plenty of successes and blunders are out there for any savvy bank marketer to learn from. With the right social media analytics tool, this data could be the key to keeping up in today’s fast-paced environment.
There’s a lot of powerful data on social media, and banks can leverage this to their advantage. Analytics and competitive insights empower bank marketers—even at smaller institutions—to be smart and efficient with both their time and dollars. You cannot differentiate your institution unless you know and understand the stories your competitors are telling.
You also need to be aware of the quality of your competitors’ ads, calls to action and websites. If your marketing materials are not comparable you could lose customers. It is more than just optimizing a landing page—there needs to be a quality experience at every possible touchpoint. To start understanding competitors, consider these three tips when analyzing social media for banks:
1. Benchmark your strategy. Benchmarking is the foundation of any competitive marketing strategy because it shows how measuring your competitors’ performance can help you step up your bank’s marketing game.
With social listening tools that enable tracking competitors’ social media activity, leaders can see the organization’s performance benchmarked against competitors and get a clear picture of where social needs more investment to stay competitive.
For instance, if you’re working to understand how often your team should be posting to social media channels, look at how often a competitor is posting. Or if you’re aiming for 50 percent audience growth and see everyone else has 5 percent month-over-month, you know to adjust expectations to be more achievable.
2. Understand what is resonating. When financial institutions embrace social listening, they gain clear insight into how other brands are producing engagement on social channels and resonating with customers. One bank finding resonance could be an outlier, but if multiple competitors are using the same technique, your brand can use those trend insights to craft even more relevant messaging and maintain an advantage against the competition.
Track which trends and are getting high engagement for your competitors. Which topics that drive the most engagement? Certain aspects of storytelling? Or maybe specific kinds of posts, such as short-form videos, resonate best. Understanding what works for your competitors will teach you what works for you. Conversely, if they have posts that are driving little to no engagement, learn from their mistakes and avoid spending your time and dollars doing the same thing.
3. Identify proactive opportunities. Monitoring competitors on social media can provide unique insights and offer proactive opportunities for your institution to pick up a customer. For better or worse, social media gives us all a view into a brand’s dirty laundry. If you notice a competitor getting social media complaints on a particular service or product, this could be an opportunity for you to target that audience and tell them how you do it better.
Are people posting messages on your competitors’ pages about how hard it is to reach a customer service representative with them? Grab the opportunity and design a targeted paid campaign that emphasizes your institution’s excellent customer service.
These moments may not come often or easily, so stay vigilant to make the most of them.
Competitor social media analysis is a vital tool to help smaller financial institutions remain competitive. It keeps your finger on the pulse of what’s happening in the industry while identifying what’s working—and what’s not—for the bigger players.
This article was originally published on ABA Bank Marketing.
Read this guide if you’re asking yourself:
- Is my social media policy current and comprehensive?
- How do I ensure social media compliance during M&A?
- What do I need to consider for direct messaging compliance?
In this guide we will help you think about your all important social media policy and thoughtfully consider how changes in social media tech and even your bank’s structure may impact compliance.
Which roles do you fill when building your bank's marketing dream team? This guide will show you the following:
- Who does what
- The right structure to execute strategy
- How compliance software can help
Enjoy!
It’s no surprise that social media can help drive results for your mortgage business. In fact, the question for most marketers at mortgage lending institutions isn’t IF they should be doing more social media marketing - it’s HOW. Download to learn how to:
- Scale your social selling program
- Plan your content strategy
- Train your loan officers
Like many community banks, Dart Bank wanted to keep customer relationships a top priority. This meant being more available to customers and meeting them where they are. In modern terms, that means on social media.
When Dart Bank learned about how Denim Social supports social selling for loan officers, they knew it was the perfect fit to keep their team engaged at every step of the journey. They wanted to empower their loan officers to create and grow authentic relationships online, never missing an opportunity to connect.
Shelter Insurance® sought to launch a social selling program that would not only create posting efficiency, but also make it easy for agents to establish subject matter expertise via high quality social media content. They also saw an opportunity to empower digitally savvy agents to cultivate leads online to drive business results in a compliant social selling program.
Before launching the program, it was essential that agents understood the pillars of social selling. Together with the Denim Social team, Shelter Insurance® developed a best-in-class program communication, onboarding and training process for agents.
Social selling is just what it sounds like: using social media to sell a product or service. It’s leveraging social to build personal relationships, showcase thought leadership, engage with prospects, interact with existing customers, and ultimately build trust and rapport that will eventually lead to sales.
It enables intermediaries – like insurance agents – to add value to the customer journey where there wouldn’t otherwise be an opportunity.
This guide will help financial services marketers understand why social media should be a core component of their marketing strategy and showcase how the collective reach of their intermediaries’ social media presence can be harnessed to more deeply connect with prospective clients, position producers as thought leaders in their communities, and, ultimately, build trust with clients that translates to positive business results.
It’s called social selling and it works.
The spring 2023 buying season has arrived and with it – you guessed – uncertainty. Spring has long been make-it or break-it season for lenders and loan officers, and despite present conditions, the same holds true this year. But 2023 holds unique challenges and opportunities.
As the season opens, there are a few key considerations the Denim Social team sees as critical for mortgage marketers.
Paid social is one of the most effective ways to introduce people who aren’t yet following your producers, agents, loan officers, or advisors to your financial institution at the right place and the right time.
Paid social is complementary to organic. While organic social builds first-degree connections and facilitates awareness, engagement, and branding, paid social allows you to reach larger, more tailored audiences.
BOK Financial is a financial services partner for consumers, businesses and wealth clients with more than 150 users on the Denim Social platform.
In addition to building brand credibility and establishing loan officer expertise, Denim Social enables their mortgage loan officers to cultivate relationships in social media and organically source leads.
As financial marketers look to the coming year, most are wondering, “what’s next?” While no one can say for sure, our team of experts here at Denim Social are keeping a pulse on what’s new in digital marketing for financial institutions on social media. This guide will not only educate you on the latest trends, but help you make the case for increased investment in social selling and digital marketing strategies at your institution.
Evolve Bank & Trust (“Evolve”) is an $700M+ asset institution with nearly 40 Home Loan Centers (HLC) and nearly 500 employees nationwide. See how Denim Social helped Evolve activate Home Loan Center Facebook pages over the course of just a few months.
Whether you’re in banking, wealth management, insurance or mortgage, relationships are the bedrock of your business.
Considering clients in these industries are handing over the keys to their personal kingdoms, it’s no surprise that trust and connection matter. That’s why successful sales strategies for these industries are focused on building long-term, trusted relationships.
To truly unleash the potential of social, financial institutions need to use social media as a sales tool. It’s called social selling and it works.
The power of social media is undeniable. The ability of banks to engage with and influence customers and prospects via interactive digital channels is an essential tool and a cornerstone of marketing. Gone are the days when it was “nice to have” a presence on platforms such as Facebook, LinkedIn, Twitter and Instagram. Today, these pathways are helping banks to build relationships that were historically cultivated by tirelessly walking up and down Main Street, shaking hands and leaving behind business cards.
In this case study by Denim Social and American Bankers Association, we take a look at how banks are using social media to ramp up digital engagement and build sales.
As any marketer worth their salt will tell you, analytics should drive your social strategy. The key to success is understanding how to link social media efforts to ROI metrics. Read this guide to learn how to gain insights that matter, optimize your strategy and prove your social success.
AnnieMac is one of the fastest-growing mortgage loan providers in the U.S., serving clients in 42 states. Learn how Denim Social helped their team to streamline its brand’s social media strategy and activate social selling for hundreds of loan officers in just four months.
As mortgage demand surges to historic highs, home purchase and refinance markets remain hot. This is excellent news for loan officers, but it also means the environment is more competitive than ever.
So how can marketers ensure that their loan officers stand out? The answer is social media.
Read this guidebook from Denim Social to learn how you can help your loan officers build strong relationships, stand out from the crowd and win more business using social media.
Every Mortgage Marketer Should Ask Themselves
Compliance is complicated, but don’t let it stop your lending team from making the most of social media. Think you’re ready to start social selling? Ask yourself these five questions!
Every Financial Services Marketer Should Ask Themselves
Compliance is complicated, but don’t let it stop your lending team from making the most of social media. Think you’re ready to start social selling? Ask yourself these five questions!
Stronger Customer Relationships on Instagram
Financial Services companies should be marketing and advertising on Instagram. We break down why, and help you create a strategy to reach new customers- while continuing to build trust in your brand.
How 6 Financial Marketers Are Creating Value in Social Media
Ever wonder what everyone else is doing in social media? We talked to six leading financial marketers about how they’re succeeding today and planning for the next big thing.
Get their insights on strengthening your social strategies, unlocking the power of employee networks and creating next-level content that drives engagement.
Download this guidebook to learn how 3 mortgage lenders are using social media to:
- Position themselves in a place the community is already looking ... their social media
- Empower loan officers to engage in local conversations
- Turn their institution's loan officers into the voice of their brand
- Build trust within the community
ABA Study: The Current State of Social Media
See what nearly 430 bank marketers had to say when asked questions such as:
COVID-19 & Bank Social Media
Times are different and how you connect with customers and potential customers has changed drastically. In a socially distant world, learn to still build lasting relationships.
Download and learn the guiding principles for using social media to serve both your customers and communities in the midst of a pandemic.
The Value of Competitor Social Media Analysis
Social media for banks is a necessity. That’s a given. You meet customers where they are, and today, that’s online. But customers (and potential customers) are not just engaging and interacting with one bank’s website, apps and social accounts. They are seeing competitors’ accounts, too. Bank marketers must leverage social media analytics to understand what works for their competitors—and figure out how to do it better.
A competitive analysis of social media data in the banking industry can help guide your strategy by quantifying the successes and failures of your rivals. This is especially true of community banks, which may feel they are fighting an uphill digital battle against the resources of fintech companies and enterprise financial institutions. Thankfully, lots of competitor data is publicly available. Plenty of successes and blunders are out there for any savvy bank marketer to learn from. With the right social media analytics tool, this data could be the key to keeping up in today’s fast-paced environment.
There’s a lot of powerful data on social media, and banks can leverage this to their advantage. Analytics and competitive insights empower bank marketers—even at smaller institutions—to be smart and efficient with both their time and dollars. You cannot differentiate your institution unless you know and understand the stories your competitors are telling.
You also need to be aware of the quality of your competitors’ ads, calls to action and websites. If your marketing materials are not comparable you could lose customers. It is more than just optimizing a landing page—there needs to be a quality experience at every possible touchpoint. To start understanding competitors, consider these three tips when analyzing social media for banks:
1. Benchmark your strategy. Benchmarking is the foundation of any competitive marketing strategy because it shows how measuring your competitors’ performance can help you step up your bank’s marketing game.
With social listening tools that enable tracking competitors’ social media activity, leaders can see the organization’s performance benchmarked against competitors and get a clear picture of where social needs more investment to stay competitive.
For instance, if you’re working to understand how often your team should be posting to social media channels, look at how often a competitor is posting. Or if you’re aiming for 50 percent audience growth and see everyone else has 5 percent month-over-month, you know to adjust expectations to be more achievable.
2. Understand what is resonating. When financial institutions embrace social listening, they gain clear insight into how other brands are producing engagement on social channels and resonating with customers. One bank finding resonance could be an outlier, but if multiple competitors are using the same technique, your brand can use those trend insights to craft even more relevant messaging and maintain an advantage against the competition.
Track which trends and are getting high engagement for your competitors. Which topics that drive the most engagement? Certain aspects of storytelling? Or maybe specific kinds of posts, such as short-form videos, resonate best. Understanding what works for your competitors will teach you what works for you. Conversely, if they have posts that are driving little to no engagement, learn from their mistakes and avoid spending your time and dollars doing the same thing.
3. Identify proactive opportunities. Monitoring competitors on social media can provide unique insights and offer proactive opportunities for your institution to pick up a customer. For better or worse, social media gives us all a view into a brand’s dirty laundry. If you notice a competitor getting social media complaints on a particular service or product, this could be an opportunity for you to target that audience and tell them how you do it better.
Are people posting messages on your competitors’ pages about how hard it is to reach a customer service representative with them? Grab the opportunity and design a targeted paid campaign that emphasizes your institution’s excellent customer service.
These moments may not come often or easily, so stay vigilant to make the most of them.
Competitor social media analysis is a vital tool to help smaller financial institutions remain competitive. It keeps your finger on the pulse of what’s happening in the industry while identifying what’s working—and what’s not—for the bigger players.
This article was originally published on ABA Bank Marketing.
Read this guide if you’re asking yourself:
- Is my social media policy current and comprehensive?
- How do I ensure social media compliance during M&A?
- What do I need to consider for direct messaging compliance?
In this guide we will help you think about your all important social media policy and thoughtfully consider how changes in social media tech and even your bank’s structure may impact compliance.
Which roles do you fill when building your bank's marketing dream team? This guide will show you the following:
- Who does what
- The right structure to execute strategy
- How compliance software can help
Enjoy!
It’s no surprise that social media can help drive results for your mortgage business. In fact, the question for most marketers at mortgage lending institutions isn’t IF they should be doing more social media marketing - it’s HOW. Download to learn how to:
- Scale your social selling program
- Plan your content strategy
- Train your loan officers
Like many community banks, Dart Bank wanted to keep customer relationships a top priority. This meant being more available to customers and meeting them where they are. In modern terms, that means on social media.
When Dart Bank learned about how Denim Social supports social selling for loan officers, they knew it was the perfect fit to keep their team engaged at every step of the journey. They wanted to empower their loan officers to create and grow authentic relationships online, never missing an opportunity to connect.
Shelter Insurance® sought to launch a social selling program that would not only create posting efficiency, but also make it easy for agents to establish subject matter expertise via high quality social media content. They also saw an opportunity to empower digitally savvy agents to cultivate leads online to drive business results in a compliant social selling program.
Before launching the program, it was essential that agents understood the pillars of social selling. Together with the Denim Social team, Shelter Insurance® developed a best-in-class program communication, onboarding and training process for agents.
Social selling is just what it sounds like: using social media to sell a product or service. It’s leveraging social to build personal relationships, showcase thought leadership, engage with prospects, interact with existing customers, and ultimately build trust and rapport that will eventually lead to sales.
It enables intermediaries – like insurance agents – to add value to the customer journey where there wouldn’t otherwise be an opportunity.
This guide will help financial services marketers understand why social media should be a core component of their marketing strategy and showcase how the collective reach of their intermediaries’ social media presence can be harnessed to more deeply connect with prospective clients, position producers as thought leaders in their communities, and, ultimately, build trust with clients that translates to positive business results.
It’s called social selling and it works.
The spring 2023 buying season has arrived and with it – you guessed – uncertainty. Spring has long been make-it or break-it season for lenders and loan officers, and despite present conditions, the same holds true this year. But 2023 holds unique challenges and opportunities.
As the season opens, there are a few key considerations the Denim Social team sees as critical for mortgage marketers.
Paid social is one of the most effective ways to introduce people who aren’t yet following your producers, agents, loan officers, or advisors to your financial institution at the right place and the right time.
Paid social is complementary to organic. While organic social builds first-degree connections and facilitates awareness, engagement, and branding, paid social allows you to reach larger, more tailored audiences.
BOK Financial is a financial services partner for consumers, businesses and wealth clients with more than 150 users on the Denim Social platform.
In addition to building brand credibility and establishing loan officer expertise, Denim Social enables their mortgage loan officers to cultivate relationships in social media and organically source leads.
As financial marketers look to the coming year, most are wondering, “what’s next?” While no one can say for sure, our team of experts here at Denim Social are keeping a pulse on what’s new in digital marketing for financial institutions on social media. This guide will not only educate you on the latest trends, but help you make the case for increased investment in social selling and digital marketing strategies at your institution.
Evolve Bank & Trust (“Evolve”) is an $700M+ asset institution with nearly 40 Home Loan Centers (HLC) and nearly 500 employees nationwide. See how Denim Social helped Evolve activate Home Loan Center Facebook pages over the course of just a few months.
Whether you’re in banking, wealth management, insurance or mortgage, relationships are the bedrock of your business.
Considering clients in these industries are handing over the keys to their personal kingdoms, it’s no surprise that trust and connection matter. That’s why successful sales strategies for these industries are focused on building long-term, trusted relationships.
To truly unleash the potential of social, financial institutions need to use social media as a sales tool. It’s called social selling and it works.
The power of social media is undeniable. The ability of banks to engage with and influence customers and prospects via interactive digital channels is an essential tool and a cornerstone of marketing. Gone are the days when it was “nice to have” a presence on platforms such as Facebook, LinkedIn, Twitter and Instagram. Today, these pathways are helping banks to build relationships that were historically cultivated by tirelessly walking up and down Main Street, shaking hands and leaving behind business cards.
In this case study by Denim Social and American Bankers Association, we take a look at how banks are using social media to ramp up digital engagement and build sales.
As any marketer worth their salt will tell you, analytics should drive your social strategy. The key to success is understanding how to link social media efforts to ROI metrics. Read this guide to learn how to gain insights that matter, optimize your strategy and prove your social success.
AnnieMac is one of the fastest-growing mortgage loan providers in the U.S., serving clients in 42 states. Learn how Denim Social helped their team to streamline its brand’s social media strategy and activate social selling for hundreds of loan officers in just four months.
As mortgage demand surges to historic highs, home purchase and refinance markets remain hot. This is excellent news for loan officers, but it also means the environment is more competitive than ever.
So how can marketers ensure that their loan officers stand out? The answer is social media.
Read this guidebook from Denim Social to learn how you can help your loan officers build strong relationships, stand out from the crowd and win more business using social media.
Every Mortgage Marketer Should Ask Themselves
Compliance is complicated, but don’t let it stop your lending team from making the most of social media. Think you’re ready to start social selling? Ask yourself these five questions!
Every Financial Services Marketer Should Ask Themselves
Compliance is complicated, but don’t let it stop your lending team from making the most of social media. Think you’re ready to start social selling? Ask yourself these five questions!
Stronger Customer Relationships on Instagram
Financial Services companies should be marketing and advertising on Instagram. We break down why, and help you create a strategy to reach new customers- while continuing to build trust in your brand.
How 6 Financial Marketers Are Creating Value in Social Media
Ever wonder what everyone else is doing in social media? We talked to six leading financial marketers about how they’re succeeding today and planning for the next big thing.
Get their insights on strengthening your social strategies, unlocking the power of employee networks and creating next-level content that drives engagement.
Download this guidebook to learn how 3 mortgage lenders are using social media to:
- Position themselves in a place the community is already looking ... their social media
- Empower loan officers to engage in local conversations
- Turn their institution's loan officers into the voice of their brand
- Build trust within the community
ABA Study: The Current State of Social Media
See what nearly 430 bank marketers had to say when asked questions such as:
COVID-19 & Bank Social Media
Times are different and how you connect with customers and potential customers has changed drastically. In a socially distant world, learn to still build lasting relationships.
Download and learn the guiding principles for using social media to serve both your customers and communities in the midst of a pandemic.
The Value of Competitor Social Media Analysis
Social media for banks is a necessity. That’s a given. You meet customers where they are, and today, that’s online. But customers (and potential customers) are not just engaging and interacting with one bank’s website, apps and social accounts. They are seeing competitors’ accounts, too. Bank marketers must leverage social media analytics to understand what works for their competitors—and figure out how to do it better.
A competitive analysis of social media data in the banking industry can help guide your strategy by quantifying the successes and failures of your rivals. This is especially true of community banks, which may feel they are fighting an uphill digital battle against the resources of fintech companies and enterprise financial institutions. Thankfully, lots of competitor data is publicly available. Plenty of successes and blunders are out there for any savvy bank marketer to learn from. With the right social media analytics tool, this data could be the key to keeping up in today’s fast-paced environment.
There’s a lot of powerful data on social media, and banks can leverage this to their advantage. Analytics and competitive insights empower bank marketers—even at smaller institutions—to be smart and efficient with both their time and dollars. You cannot differentiate your institution unless you know and understand the stories your competitors are telling.
You also need to be aware of the quality of your competitors’ ads, calls to action and websites. If your marketing materials are not comparable you could lose customers. It is more than just optimizing a landing page—there needs to be a quality experience at every possible touchpoint. To start understanding competitors, consider these three tips when analyzing social media for banks:
1. Benchmark your strategy. Benchmarking is the foundation of any competitive marketing strategy because it shows how measuring your competitors’ performance can help you step up your bank’s marketing game.
With social listening tools that enable tracking competitors’ social media activity, leaders can see the organization’s performance benchmarked against competitors and get a clear picture of where social needs more investment to stay competitive.
For instance, if you’re working to understand how often your team should be posting to social media channels, look at how often a competitor is posting. Or if you’re aiming for 50 percent audience growth and see everyone else has 5 percent month-over-month, you know to adjust expectations to be more achievable.
2. Understand what is resonating. When financial institutions embrace social listening, they gain clear insight into how other brands are producing engagement on social channels and resonating with customers. One bank finding resonance could be an outlier, but if multiple competitors are using the same technique, your brand can use those trend insights to craft even more relevant messaging and maintain an advantage against the competition.
Track which trends and are getting high engagement for your competitors. Which topics that drive the most engagement? Certain aspects of storytelling? Or maybe specific kinds of posts, such as short-form videos, resonate best. Understanding what works for your competitors will teach you what works for you. Conversely, if they have posts that are driving little to no engagement, learn from their mistakes and avoid spending your time and dollars doing the same thing.
3. Identify proactive opportunities. Monitoring competitors on social media can provide unique insights and offer proactive opportunities for your institution to pick up a customer. For better or worse, social media gives us all a view into a brand’s dirty laundry. If you notice a competitor getting social media complaints on a particular service or product, this could be an opportunity for you to target that audience and tell them how you do it better.
Are people posting messages on your competitors’ pages about how hard it is to reach a customer service representative with them? Grab the opportunity and design a targeted paid campaign that emphasizes your institution’s excellent customer service.
These moments may not come often or easily, so stay vigilant to make the most of them.
Competitor social media analysis is a vital tool to help smaller financial institutions remain competitive. It keeps your finger on the pulse of what’s happening in the industry while identifying what’s working—and what’s not—for the bigger players.
This article was originally published on ABA Bank Marketing.
Read this guide if you’re asking yourself:
- Is my social media policy current and comprehensive?
- How do I ensure social media compliance during M&A?
- What do I need to consider for direct messaging compliance?
In this guide we will help you think about your all important social media policy and thoughtfully consider how changes in social media tech and even your bank’s structure may impact compliance.
Which roles do you fill when building your bank's marketing dream team? This guide will show you the following:
- Who does what
- The right structure to execute strategy
- How compliance software can help
Enjoy!
It’s no surprise that social media can help drive results for your mortgage business. In fact, the question for most marketers at mortgage lending institutions isn’t IF they should be doing more social media marketing - it’s HOW. Download to learn how to:
- Scale your social selling program
- Plan your content strategy
- Train your loan officers
Like many community banks, Dart Bank wanted to keep customer relationships a top priority. This meant being more available to customers and meeting them where they are. In modern terms, that means on social media.
When Dart Bank learned about how Denim Social supports social selling for loan officers, they knew it was the perfect fit to keep their team engaged at every step of the journey. They wanted to empower their loan officers to create and grow authentic relationships online, never missing an opportunity to connect.
Shelter Insurance® sought to launch a social selling program that would not only create posting efficiency, but also make it easy for agents to establish subject matter expertise via high quality social media content. They also saw an opportunity to empower digitally savvy agents to cultivate leads online to drive business results in a compliant social selling program.
Before launching the program, it was essential that agents understood the pillars of social selling. Together with the Denim Social team, Shelter Insurance® developed a best-in-class program communication, onboarding and training process for agents.
Social selling is just what it sounds like: using social media to sell a product or service. It’s leveraging social to build personal relationships, showcase thought leadership, engage with prospects, interact with existing customers, and ultimately build trust and rapport that will eventually lead to sales.
It enables intermediaries – like insurance agents – to add value to the customer journey where there wouldn’t otherwise be an opportunity.
This guide will help financial services marketers understand why social media should be a core component of their marketing strategy and showcase how the collective reach of their intermediaries’ social media presence can be harnessed to more deeply connect with prospective clients, position producers as thought leaders in their communities, and, ultimately, build trust with clients that translates to positive business results.
It’s called social selling and it works.
The spring 2023 buying season has arrived and with it – you guessed – uncertainty. Spring has long been make-it or break-it season for lenders and loan officers, and despite present conditions, the same holds true this year. But 2023 holds unique challenges and opportunities.
As the season opens, there are a few key considerations the Denim Social team sees as critical for mortgage marketers.
Paid social is one of the most effective ways to introduce people who aren’t yet following your producers, agents, loan officers, or advisors to your financial institution at the right place and the right time.
Paid social is complementary to organic. While organic social builds first-degree connections and facilitates awareness, engagement, and branding, paid social allows you to reach larger, more tailored audiences.
BOK Financial is a financial services partner for consumers, businesses and wealth clients with more than 150 users on the Denim Social platform.
In addition to building brand credibility and establishing loan officer expertise, Denim Social enables their mortgage loan officers to cultivate relationships in social media and organically source leads.
As financial marketers look to the coming year, most are wondering, “what’s next?” While no one can say for sure, our team of experts here at Denim Social are keeping a pulse on what’s new in digital marketing for financial institutions on social media. This guide will not only educate you on the latest trends, but help you make the case for increased investment in social selling and digital marketing strategies at your institution.
Evolve Bank & Trust (“Evolve”) is an $700M+ asset institution with nearly 40 Home Loan Centers (HLC) and nearly 500 employees nationwide. See how Denim Social helped Evolve activate Home Loan Center Facebook pages over the course of just a few months.
Whether you’re in banking, wealth management, insurance or mortgage, relationships are the bedrock of your business.
Considering clients in these industries are handing over the keys to their personal kingdoms, it’s no surprise that trust and connection matter. That’s why successful sales strategies for these industries are focused on building long-term, trusted relationships.
To truly unleash the potential of social, financial institutions need to use social media as a sales tool. It’s called social selling and it works.
The power of social media is undeniable. The ability of banks to engage with and influence customers and prospects via interactive digital channels is an essential tool and a cornerstone of marketing. Gone are the days when it was “nice to have” a presence on platforms such as Facebook, LinkedIn, Twitter and Instagram. Today, these pathways are helping banks to build relationships that were historically cultivated by tirelessly walking up and down Main Street, shaking hands and leaving behind business cards.
In this case study by Denim Social and American Bankers Association, we take a look at how banks are using social media to ramp up digital engagement and build sales.
As any marketer worth their salt will tell you, analytics should drive your social strategy. The key to success is understanding how to link social media efforts to ROI metrics. Read this guide to learn how to gain insights that matter, optimize your strategy and prove your social success.
AnnieMac is one of the fastest-growing mortgage loan providers in the U.S., serving clients in 42 states. Learn how Denim Social helped their team to streamline its brand’s social media strategy and activate social selling for hundreds of loan officers in just four months.
As mortgage demand surges to historic highs, home purchase and refinance markets remain hot. This is excellent news for loan officers, but it also means the environment is more competitive than ever.
So how can marketers ensure that their loan officers stand out? The answer is social media.
Read this guidebook from Denim Social to learn how you can help your loan officers build strong relationships, stand out from the crowd and win more business using social media.
Every Mortgage Marketer Should Ask Themselves
Compliance is complicated, but don’t let it stop your lending team from making the most of social media. Think you’re ready to start social selling? Ask yourself these five questions!
Every Financial Services Marketer Should Ask Themselves
Compliance is complicated, but don’t let it stop your lending team from making the most of social media. Think you’re ready to start social selling? Ask yourself these five questions!
Stronger Customer Relationships on Instagram
Financial Services companies should be marketing and advertising on Instagram. We break down why, and help you create a strategy to reach new customers- while continuing to build trust in your brand.
How 6 Financial Marketers Are Creating Value in Social Media
Ever wonder what everyone else is doing in social media? We talked to six leading financial marketers about how they’re succeeding today and planning for the next big thing.
Get their insights on strengthening your social strategies, unlocking the power of employee networks and creating next-level content that drives engagement.
Download this guidebook to learn how 3 mortgage lenders are using social media to:
- Position themselves in a place the community is already looking ... their social media
- Empower loan officers to engage in local conversations
- Turn their institution's loan officers into the voice of their brand
- Build trust within the community
ABA Study: The Current State of Social Media
See what nearly 430 bank marketers had to say when asked questions such as:
COVID-19 & Bank Social Media
Times are different and how you connect with customers and potential customers has changed drastically. In a socially distant world, learn to still build lasting relationships.
Download and learn the guiding principles for using social media to serve both your customers and communities in the midst of a pandemic.
The Value of Competitor Social Media Analysis
Social media for banks is a necessity. That’s a given. You meet customers where they are, and today, that’s online. But customers (and potential customers) are not just engaging and interacting with one bank’s website, apps and social accounts. They are seeing competitors’ accounts, too. Bank marketers must leverage social media analytics to understand what works for their competitors—and figure out how to do it better.
A competitive analysis of social media data in the banking industry can help guide your strategy by quantifying the successes and failures of your rivals. This is especially true of community banks, which may feel they are fighting an uphill digital battle against the resources of fintech companies and enterprise financial institutions. Thankfully, lots of competitor data is publicly available. Plenty of successes and blunders are out there for any savvy bank marketer to learn from. With the right social media analytics tool, this data could be the key to keeping up in today’s fast-paced environment.
There’s a lot of powerful data on social media, and banks can leverage this to their advantage. Analytics and competitive insights empower bank marketers—even at smaller institutions—to be smart and efficient with both their time and dollars. You cannot differentiate your institution unless you know and understand the stories your competitors are telling.
You also need to be aware of the quality of your competitors’ ads, calls to action and websites. If your marketing materials are not comparable you could lose customers. It is more than just optimizing a landing page—there needs to be a quality experience at every possible touchpoint. To start understanding competitors, consider these three tips when analyzing social media for banks:
1. Benchmark your strategy. Benchmarking is the foundation of any competitive marketing strategy because it shows how measuring your competitors’ performance can help you step up your bank’s marketing game.
With social listening tools that enable tracking competitors’ social media activity, leaders can see the organization’s performance benchmarked against competitors and get a clear picture of where social needs more investment to stay competitive.
For instance, if you’re working to understand how often your team should be posting to social media channels, look at how often a competitor is posting. Or if you’re aiming for 50 percent audience growth and see everyone else has 5 percent month-over-month, you know to adjust expectations to be more achievable.
2. Understand what is resonating. When financial institutions embrace social listening, they gain clear insight into how other brands are producing engagement on social channels and resonating with customers. One bank finding resonance could be an outlier, but if multiple competitors are using the same technique, your brand can use those trend insights to craft even more relevant messaging and maintain an advantage against the competition.
Track which trends and are getting high engagement for your competitors. Which topics that drive the most engagement? Certain aspects of storytelling? Or maybe specific kinds of posts, such as short-form videos, resonate best. Understanding what works for your competitors will teach you what works for you. Conversely, if they have posts that are driving little to no engagement, learn from their mistakes and avoid spending your time and dollars doing the same thing.
3. Identify proactive opportunities. Monitoring competitors on social media can provide unique insights and offer proactive opportunities for your institution to pick up a customer. For better or worse, social media gives us all a view into a brand’s dirty laundry. If you notice a competitor getting social media complaints on a particular service or product, this could be an opportunity for you to target that audience and tell them how you do it better.
Are people posting messages on your competitors’ pages about how hard it is to reach a customer service representative with them? Grab the opportunity and design a targeted paid campaign that emphasizes your institution’s excellent customer service.
These moments may not come often or easily, so stay vigilant to make the most of them.
Competitor social media analysis is a vital tool to help smaller financial institutions remain competitive. It keeps your finger on the pulse of what’s happening in the industry while identifying what’s working—and what’s not—for the bigger players.
This article was originally published on ABA Bank Marketing.
Retail banks in the U.S. are facing a major customer attrition challenges. According to a recent Bain report, customers make as many as 55 percent of financial-related purchases from their primary bank’s competitors. While primary banks may be able to retain customers’ savings and checking accounts, the report suggests that they’re likely losing out on lucrative sales when it comes to loans, credit cards and investments.
Considering that almost one-third of those who defected from their primary bank did so in response to a direct offer from a competitor, wise marketers will up their customer engagement and outreach efforts to retain more customers. Affordability of products is the top reason for customer defection, which marketers may not have much say in, but it isn’t the only contributing factor. Digitization has also been a major catalyst. Namely, the strong digital products and experiences that some banks offer—and others do not.
Bank marketers who can jump onboard the digitization train to meet customers where they are with engaging, valuable messaging will be much more likely to keep customers coming back again and again for each of their financial needs. The following strategies can help:
1. Put the human element front and center
Traditional banks have an innate advantage over digital direct banks: The human touch. Leveraging this benefit, especially when it comes to increasingly digital customer interactions, can lead to measurable improvements in customer retention.
One way to ensure the human touch remains part of every customer touchpoint is to focus on personalization. A February Insurance Thought Leadership piece revealed that 72 percent of people ignore marketing that’s not highly personalized. So targeting relevant content to the right recipients is essential, especially when digitization can easily strip the human element out of an interaction. Personalizing messaging and services to be relevant and valuable to the specific needs of each customer can bring the human element into focus even in a digital world.
One way to create more relevant, personalized outreach is to practice social selling, or leveraging a bank’s employees on social media. People can relate more to other people than they can to big brand names. When your employees are the ones getting in front of customers virtually, it humanizes the digital customer experience and sets the stage for trusting and loyal relationships to come. What’s more, employees also tend to have further reach and engagement on brand-related social posts than brand pages alone, so they can expand the impact of your messaging exponentially.
2. Create digital pathways to human interactions
When considering how to anchor all digital marketing for financial services around the human element, keep in mind that every pathway should connect prospects and customers directly to a human.
For example, a social media post from an employee could include a link to a landing page on your website where visitors can learn more valuable information on the topic of the post. On that landing page, you can include valuable content, such as a guidebook, behind an information request form. When users submit their names and email addresses, they will receive the content and your sales team members can reach out to them directly with a human-centric, personalized outreach approach.
When prospects and customers know they’re just an email or phone call away from a real person at your organization, they’re likely to turn to you instead of an impersonal digital direct bank for their next financial need.
3. Focus on customer retention just as much as acquisition
Bringing in new prospects gets a lot of attention from financial services marketers, sometimes at the expense of retaining current ones. But focusing on customer retention and continuously improving the digital customer experience will help secure more revenue when it comes to additional services such as loans and credit cards.
Listen to the needs of customers and keep refining your personalization tactics to meet their needs. Every time you get in front of a current customer with relevant, valuable messaging or content, you help build trust in that relationship and increase the chances of that customer coming to you for whatever service they need next.
It’s true that people will always be drawn to brands that offer more affordable products and services. But money isn’t the only reason people look outside of their primary bank to fulfill their financial needs. Banks that differentiate by focusing on digitization alongside the human element will find that it’s easier to keep current customers from looking for greener pastures.
This was originally published on ABA Bank Marketing.
Connecting with customers and prospects on social media is a natural extension of the financial services industry becoming more digital. Consumers expect the businesses they patronize to be on the same social platforms they use — and they expect those brands to be ready to interact with them. Case in point: A survey of over 500 social media users found that nearly three-quarters follow organizations on social platforms, and the vast majority of them interact with those brands on social.
Social media is the perfect tool for financial institutions to build brand awareness, meet the demand for greater digital engagement, recruit prospective customers, and drive referrals.
While social media is a great way to connect with customers and prospects, it’s not without its risk. It’s essential to use social media tools that will keep your team in compliance.
1. START WITH A SOCIAL SELLING STRATEGY.
There are few limits to how you can connect with customers and prospects on social media, but it needs to be about more than posts from a brand page. Direct messaging is always an option for private communication, but to reach more people at scale, social sellers (i.e., agents, loan officers, financial advisors, intermediaries, etc.) should also be posting original content, resharing educational articles, responding to comments and questions, and liking others’ posts. With so many options, it’s important for marketers to craft a social selling strategy that guides social sellers in their social interactions on behalf of the institution.
A well-thought-out strategy can ensure effective social selling. For instance, rather than posting on channels at random and hoping for the best, social sellers can determine which social media platforms suit them best based on audience engagement and follower counts; then they can focus their efforts there. Consider also equipping intermediaries with a library of branded content they can mix in with their personal posts. This strategy will inform your all-important social media policy moving forward.
2. TURN YOUR STRATEGY INTO A DETAILED POLICY.
In a heavily regulated industry, it’s essential for firms to have a comprehensive social media policy. This is a package of brand messaging in a detailed policy to help ensure consistency when social sellers post on your behalf.
Take the plan you mapped out in your strategy and turn it into a documented policy that intermediaries can access easily. Social media and the way people use it continues to evolve, which is why your social media policy should always be a work in progress. Make updates periodically to account for shifts in your approval workflow, changes in messaging, and general social media best practices. As social sellers become savvier, your policy will grow more detailed.
3. MAKE TRAINING AN ONGOING EFFORT.
Intermediaries who are new to social media will require initial training — but it shouldn’t be a one-and-done initiative. Hold regular social selling workshops to keep all social sellers up to date on your social media policy and messaging.
You can also use workshop time to walk your team through any tools you invest in to fuel social media efforts. Denim Social, for example, offers live product demos you can share to show them how to use the technology and get the most benefit.
Demonstrate how the software streamlines the approval process for posts and automatically archives them for future reference. The more they know, the more comfortable they’ll be using such tools to facilitate social selling efforts. The great news is, our customer success team is here to help get your team trained and ready.
Social media opens up a world of opportunity for financial institutions to reach and engage customers and prospects, but that doesn’t mean you should set your team free to do as they please. The right strategy and social media management software can make it a lot easier to avoid mistakes and create a successful social selling strategy. Want to see how Denim Social can help your team up their social media game? Schedule a demo today!
Instagram stands out as the shining star of social media platforms. While Facebook still reigns supreme and TikTok grows, Instagram is quickly catching up fast with more than 2 billion users worldwide.
With users under age 34 making up nearly 60 percent of this user population, financial services marketers looking to reach younger generations should take note. And with an estimated sum of $68 trillion in wealth expected to transfer from Baby Boomers to Millennials in the next couple of decades, Millennials are a worthwhile target.
Studies predict that, after inheriting wealth, 80% or more young heirs will seek out a new financial advisor. Considering that 9 in 10 accounts follow at least one business on Instagram and 8 in 10 users find new products and services in the app, it’s a safe bet that Instagram will be a place to influence many Millennials. Wise financial services marketers will meet them where they are with strong Instagram marketing strategies, and the following tips can help:
1. Focus on paid ads
Instagram is a visual platform for sharing photos and videos, so it’s important for brand pages to populate their profiles with organic posts. While this presence is important, organic content isn’t what will move the needle on business goals. Financial services aren’t exactly visually interesting, and organic posts tend to have low reach as they only show up in the feeds of a brand’s current followers. Without the ability to include hyperlinks in captions, they also won’t drive any traffic back to your site. If you want to build the type of following needed to generate new business, including paid advertising in your Instagram marketing strategy is your ticket.
With Instagram advertising, institutions and advisors can target ads to land with exactly the right audience — even outside their follower base — and include links in posts to drive more traffic to the brand. With a specific call to action that directs consumers to learn more about a topic, Instagram ads offer a straight-line path to giving customers the valuable information they desire — in their own time and at their own place. What’s more, Instagram advertising is seamlessly integrated directly into Instagram feeds and stories, creating a smoother user experience all around.
2. Connect with consumers on a local level
Instagram marketing on the corporate brand level is a great starting point, but advertising on behalf of your individual advisors can take your strategy to the next level. Think of it this way: If a consumer sees a well-known brand on social media, they might recognize the name, but they won’t feel an intrinsic connection beyond initial familiarity. In contrast, they’ll feel familiarity and an immediate connection when they see a post from an advisor in their own community. Consumers want to build relationships with brands, and a shared community is a great starting point.
Of course, most advisors and other financial services employees are not experts on how to market the business on Instagram. And marketers know they must keep all social media marketing for their financial institutions compliant to avoid heavy regulatory reprimands. To keep posts compliant, save employees time, and help them build relationships with consumers in their physical communities, financial services marketers can set up and run ads on their behalf.
3. Micro-target content to your audience
As big-name brands like Amazon continue to elevate the digital customer experience with seamless customer service, purchasing, and delivery, customer expectations are higher than ever before. When customers evaluate a financial institution, they compare it not only to other organizations in the industry, but also to tech giants in any industry that give them exactly what they need when they need it.
They expect a high level of personalization and convenience, and Instagram marketing with paid advertising can help you give it to them. Match basic behavioral and geographic data to potential customers on Instagram to target ads, and then track clicks, engagements, and post-click actions. These data points don’t indicate much on their own, but together they offer a rich story about what consumers want. Continually refine your strategy with these data points in mind to deliver the kind of highly personalized experiences your audiences want on Instagram.
With a large Millennial user base that engages actively with brands online and the ability to target highly personalized ads to exactly the right audiences, Instagram is a must-have in any financial services marketing strategy. To learn more about how Instagram marketing can work to drive your business forward, download our guide to building stronger customer relationships on Instagram for free today.
So you've invested the time, energy, and money into building a website that details all of your financial products and services, and you have a solid social media strategy in place — but do you have any means of connecting the two? A full digital marketing strategy requires a connection point to lead prospects along the digital journey and toward conversion. Landing pages can serve as the bridges you need.
These pages live on your website and hold information geared toward specific audience segments. For example, if an insurance agent is interested in helping first-time homebuyers with homeowners insurance, a social media post on the subject could include a link to a landing page on your website with even more resources for new buyers.
Landing pages are important because no matter how well-built your website homepage is, it simply can’t serve the needs of every consumer — not conveniently, at least. Without landing pages, site visitors arrive on the homepage and are left to dig through the site for specific information on their own. Landing pages, on the other hand, allow visitors to arrive at your site in the exact place they want to be. It’s the best way for financial institution marketers to quickly and easily offer content that meets the specific needs of various target audiences.
Customers want this level of personalization, and they're open to the idea of trading their information for it. In fact, more than three-quarters of consumers in one study said they would be willing to give more personal data in return for more tailored services. When customers submit their contact information through a form to download the content on your landing page, not only are they getting tailored content, but you're getting data that can fuel more personalized outreach directly to primed prospects. And that leads to higher conversion rates.
Start creating landing pages by planning a page for each promotion in your overall marketing campaign or for each of your target audiences. Then, we recommend the following steps to drive conversion:
1. Keep it simple and direct.
Ultimately, the goal of a landing page for financial institutions is to learn more about prospects by gathering their information in the form field. For visitors, the clearer the path to the field, the likelier they will be to share their data. Don’t fill a page with too many images, multiple offers, and other clutter — you’ll just increase the chances of visitors bouncing off the page before taking action. Instead, stick with concise, clear messaging, easy-to-follow directives, strong calls to action, and impactful design elements.
2. Leverage pre-built, fully customizable templates.
Few marketing professionals have the bandwidth or experience to build a whole webpage on their own. Fortunately, software like Denim Social with landing page functionality will offer pre-built, customizable templates that allow you to start with a page already optimized for conversion.
From there, you can easily customize the content, form fields, colors, images, and video on each page to fit your campaign goals. The key here is to keep a consistent style across pages so each one fits under your overall brand umbrella.
3. Scale, scale, scale!
The real beauty of using pre-built, customizable templates is the ability to design, build, and launch landing pages at scale. Denim Social’s code-free interface makes it easy for anyone to populate many templates with customized elements — no web design expertise required. Just personalize, publish, then easily iterate and adjust based on conversion data.
In practice, this looks like building hundreds or even thousands of highly professional landing pages in just minutes. That’s a lot more opportunity for targeted messaging than one broad website homepage on its own.
Landing pages are one of the most effective tools at your disposal to create tailored experiences, capture valuable information, and generate high-quality leads. With the right platform, any marketer can build landing pages at scale and propel more prospects toward conversion.
The effects of economic disruption and uncertainty have many families facing tough financial questions they are not sure how to answer.
Unfortunately, financial literacy rates remain startlingly low. A recent study showed three quarters of Americans say they do not feel confident about their personal finances. When a another survey asked over 1,000 American adults who they turn to for trusted financial advice, almost 25 percent said they had no one to turn to. Providing financial education has always been a core purpose of banks, but the financial turmoil of recent years has made financial literacy even more important.
Financial professionals have an obligation to educate their customers, and today, social media is one of the most effective ways to do so. Luckily, social media-driven education already aligns with consumer preferences: Pew Research Center reports that more than half of U.S. adults get their news from social media, and 79% Millennials or Gen Zers have gotten financial advice from social media.
Many financial institutions are already capitalizing on this by using social media to connect with their customers and communities, but there’s still ample opportunity to provide financial education to current and prospective customers. Here are three tips:
1. CURATE RELEVANT AND TRUSTWORTHY NEWS
Social media is flooded with misinformation and misleading data, and your audience members know this. To become a trusted source, be highly selective in choosing accurate, useful and relevant news to post on your branded social media pages. You can take several steps to ensure that the information you share comes from trusted sources before distributing it to your followers.
Established news organizations, such as CNBC and ABC News, seem easy enough to identify, but be wary of illegitimate sites trying to mimic them. The source’s domain and URL will help you identify whether the reference is credible. For instance, sites with URLs that end in “.com.co” might be cause for concern. If you’re still unsure, investigate the site further for more information. The “About” page should provide plenty of verifiable information about the organization’s staff and leadership team. If you’re still unsure, choose another source.
It’s also important to be aware of news bias and how it impacts your ability to build a healthy news diet that protects your brand reputation. Seek out resources (like this one) that help visualize where certain media outlets fall on the political spectrum. Armed with this information, you can help your institution’s brand avoid bias. You can also be sure you’re not resharing information that’s deceiving, one-sided, or untrustworthy.
2. EMPHASIZE YOUR TEAM’S THOUGHT LEADERSHIP
Credible news updates draw in social media users searching for financial news, but rather than simply sharing links, weave in original insights to make the information more digestible and jargon-free. Remember: Your employees are financial experts, so empower them to share their knowledge through a strong social selling strategy.
In doing so, you’ll not only educate your followers, but also humanize your brand and build trust with your audience. After all, people trust people more than brands, and research bears this out: Nearly three-fourths of social media users say they are more heavily persuaded by posts shared from employees rather than brand pages. Engage team members to share their knowledge in original content like blog posts, social media posts and short videos.
3. BE ENGAGED
Social media is a two-way communication channel. A survey by The Manifest revealed that 74 percent of consumers follow brands on social media, and of that group, 96 percent said they directly interact with those brands. To make the most of your social media presence, your team needs to be engaged and respond to questions, comments and concerns in a timely manner. Stay connected with your followers and you’ll build stronger, more meaningful relationships within your community in the long term.
Financial literacy is an acute need. By using social media to educate current and prospective customers, banks can improve financial literacy, be a good steward for their customers and serve as a trusted source of information.
Financial services customers were leaning heavily into digital experiences long before COVID-19. In fact, 80% of all customer touchpoints already occurred through digital channels in 2017. The past year has placed an even bolder emphasis on the growing importance of digital transformation for financial services. The pandemic accelerated customers’ already quick-moving adoption of digital tools as they sought new ways to connect outside of face-to-face interactions.
The year 2020 turned the need for digitization from a push to a shove, and the shift has fundamentally changed the very nature of financial services marketing. Consumer preferences won’t revert to pre-COVID ways even as vaccinations continue to roll out and the end of this crisis is in sight. In fact, up to 20% of bank customers expect their use of digital channels to increase after the pandemic.
Financial services was once a business driven largely by face-to-face relationship-building, but it has been tasked with shifting rapidly to digitize and align with consumer preferences. To make these changes sustainable for the long haul, you must build strong connections in today’s virtual world. Start by covering these digital channels where your customers are looking to connect:
1. Mobile banking apps
Mobile banking has become table stakes for financial services marketing, so if you don’t already have an easily accessible, user-friendly mobile application, the time to get one is now. A study from Insider Intelligence revealed that 89% of survey respondents are using mobile banking apps. And it’s not just younger consumers: Though 97% of Millennials did say they used mobile banking, so did 91% of Gen Xers and 79% of Baby Boomers. Financial institutions today simply can’t compete without offering customers convenient ways to do their banking from anywhere.
So we know that mobile apps are already a requirement. What financial institutions might not have considered, however, is how to elevate the experience of mobile banking apps with a human touch. Even as financial services go digital, it’s still an industry based primarily in relationships, and you need to foster real connections no matter how your customers are doing business with you. To maintain a high level of personal connection as digitization continues to accelerate, look to social media, direct messaging, and your employees.
2. Social media
In the digital age, think of social media as your brand’s welcome mat. For prospects looking to learn more about what you do and current customers with questions or concerns, social media is often the first place they’ll go. You need to have an active and engaging social media presence to meet them where they are.
A company profile on its own, however, is no longer enough. Social media platforms have updated their algorithms to decrease visibility on branded content. Financial institutions today have a tough time breaking through with their owned channels alone. Instead, they should lean into their employees as the key to unlocking reach and engagement. According to one LinkedIn study, an employee social post can garner twice the engagement of the same post from a brand account.
The bottom line is that consumers don’t want to hear from brands on social media. They don’t want to see advertisements, and they don’t trust big company names and promotional content. What they will trust, however, is an individual employee who shares an article that provides a lot of value.
3. Direct messaging
You can take that trust-building strategy up another level by leaning into the power of one-on-one communication. Direct message marketing is all about listening to customers and communicating with them on their own terms.
Direct messaging was already on the rise before the pandemic. This has only accelerated over the past year as consumers have been relying even more on messaging platforms to interact as COVID-19 has hindered their ability to connect with others in person. If your customers and prospects are already hearing from friends and family through direct messaging platforms, it’s only convenient for them to hear from your employees that way, too.
It is important to consider, however, that a direct message marketing strategy requires more compliance oversight than other digital channels. It falls under the umbrella of electronic communications, which FINRA regulates closely. But ensuring compliance doesn’t have to be a hassle: Digital tools exist to help streamline approval processes and make oversight easier. With the right tools and proper steps to keep direct message marketing within regulatory bounds, the effort will be well worth the reward.
Finding the digital channels where your customers already are and figuring out how to meet them there is the foundation of any successful digital marketing strategy for financial services. These channels are also quick to activate and flexible, so marketers can be agile and shift their approach just as fast as consumers change their preferences.
Connect & Convert on Social
The Value of Competitor Social Media Analysis
Social media for banks is a necessity. That’s a given. You meet customers where they are, and today, that’s online. But customers (and potential customers) are not just engaging and interacting with one bank’s website, apps and social accounts. They are seeing competitors’ accounts, too. Bank marketers must leverage social media analytics to understand what works for their competitors—and figure out how to do it better.
A competitive analysis of social media data in the banking industry can help guide your strategy by quantifying the successes and failures of your rivals. This is especially true of community banks, which may feel they are fighting an uphill digital battle against the resources of fintech companies and enterprise financial institutions. Thankfully, lots of competitor data is publicly available. Plenty of successes and blunders are out there for any savvy bank marketer to learn from. With the right social media analytics tool, this data could be the key to keeping up in today’s fast-paced environment.
There’s a lot of powerful data on social media, and banks can leverage this to their advantage. Analytics and competitive insights empower bank marketers—even at smaller institutions—to be smart and efficient with both their time and dollars. You cannot differentiate your institution unless you know and understand the stories your competitors are telling.
You also need to be aware of the quality of your competitors’ ads, calls to action and websites. If your marketing materials are not comparable you could lose customers. It is more than just optimizing a landing page—there needs to be a quality experience at every possible touchpoint. To start understanding competitors, consider these three tips when analyzing social media for banks:
1. Benchmark your strategy. Benchmarking is the foundation of any competitive marketing strategy because it shows how measuring your competitors’ performance can help you step up your bank’s marketing game.
With social listening tools that enable tracking competitors’ social media activity, leaders can see the organization’s performance benchmarked against competitors and get a clear picture of where social needs more investment to stay competitive.
For instance, if you’re working to understand how often your team should be posting to social media channels, look at how often a competitor is posting. Or if you’re aiming for 50 percent audience growth and see everyone else has 5 percent month-over-month, you know to adjust expectations to be more achievable.
2. Understand what is resonating. When financial institutions embrace social listening, they gain clear insight into how other brands are producing engagement on social channels and resonating with customers. One bank finding resonance could be an outlier, but if multiple competitors are using the same technique, your brand can use those trend insights to craft even more relevant messaging and maintain an advantage against the competition.
Track which trends and are getting high engagement for your competitors. Which topics that drive the most engagement? Certain aspects of storytelling? Or maybe specific kinds of posts, such as short-form videos, resonate best. Understanding what works for your competitors will teach you what works for you. Conversely, if they have posts that are driving little to no engagement, learn from their mistakes and avoid spending your time and dollars doing the same thing.
3. Identify proactive opportunities. Monitoring competitors on social media can provide unique insights and offer proactive opportunities for your institution to pick up a customer. For better or worse, social media gives us all a view into a brand’s dirty laundry. If you notice a competitor getting social media complaints on a particular service or product, this could be an opportunity for you to target that audience and tell them how you do it better.
Are people posting messages on your competitors’ pages about how hard it is to reach a customer service representative with them? Grab the opportunity and design a targeted paid campaign that emphasizes your institution’s excellent customer service.
These moments may not come often or easily, so stay vigilant to make the most of them.
Competitor social media analysis is a vital tool to help smaller financial institutions remain competitive. It keeps your finger on the pulse of what’s happening in the industry while identifying what’s working—and what’s not—for the bigger players.
This article was originally published on ABA Bank Marketing.
Retail banks in the U.S. are facing a major customer attrition challenges. According to a recent Bain report, customers make as many as 55 percent of financial-related purchases from their primary bank’s competitors. While primary banks may be able to retain customers’ savings and checking accounts, the report suggests that they’re likely losing out on lucrative sales when it comes to loans, credit cards and investments.
Considering that almost one-third of those who defected from their primary bank did so in response to a direct offer from a competitor, wise marketers will up their customer engagement and outreach efforts to retain more customers. Affordability of products is the top reason for customer defection, which marketers may not have much say in, but it isn’t the only contributing factor. Digitization has also been a major catalyst. Namely, the strong digital products and experiences that some banks offer—and others do not.
Bank marketers who can jump onboard the digitization train to meet customers where they are with engaging, valuable messaging will be much more likely to keep customers coming back again and again for each of their financial needs. The following strategies can help:
1. Put the human element front and center
Traditional banks have an innate advantage over digital direct banks: The human touch. Leveraging this benefit, especially when it comes to increasingly digital customer interactions, can lead to measurable improvements in customer retention.
One way to ensure the human touch remains part of every customer touchpoint is to focus on personalization. A February Insurance Thought Leadership piece revealed that 72 percent of people ignore marketing that’s not highly personalized. So targeting relevant content to the right recipients is essential, especially when digitization can easily strip the human element out of an interaction. Personalizing messaging and services to be relevant and valuable to the specific needs of each customer can bring the human element into focus even in a digital world.
One way to create more relevant, personalized outreach is to practice social selling, or leveraging a bank’s employees on social media. People can relate more to other people than they can to big brand names. When your employees are the ones getting in front of customers virtually, it humanizes the digital customer experience and sets the stage for trusting and loyal relationships to come. What’s more, employees also tend to have further reach and engagement on brand-related social posts than brand pages alone, so they can expand the impact of your messaging exponentially.
2. Create digital pathways to human interactions
When considering how to anchor all digital marketing for financial services around the human element, keep in mind that every pathway should connect prospects and customers directly to a human.
For example, a social media post from an employee could include a link to a landing page on your website where visitors can learn more valuable information on the topic of the post. On that landing page, you can include valuable content, such as a guidebook, behind an information request form. When users submit their names and email addresses, they will receive the content and your sales team members can reach out to them directly with a human-centric, personalized outreach approach.
When prospects and customers know they’re just an email or phone call away from a real person at your organization, they’re likely to turn to you instead of an impersonal digital direct bank for their next financial need.
3. Focus on customer retention just as much as acquisition
Bringing in new prospects gets a lot of attention from financial services marketers, sometimes at the expense of retaining current ones. But focusing on customer retention and continuously improving the digital customer experience will help secure more revenue when it comes to additional services such as loans and credit cards.
Listen to the needs of customers and keep refining your personalization tactics to meet their needs. Every time you get in front of a current customer with relevant, valuable messaging or content, you help build trust in that relationship and increase the chances of that customer coming to you for whatever service they need next.
It’s true that people will always be drawn to brands that offer more affordable products and services. But money isn’t the only reason people look outside of their primary bank to fulfill their financial needs. Banks that differentiate by focusing on digitization alongside the human element will find that it’s easier to keep current customers from looking for greener pastures.
This was originally published on ABA Bank Marketing.
In today's digital age, social media platforms have become essential tools for professionals in various industries to connect with clients, share valuable insights, and build their brand. Instagram, with its visual appeal and highly-engaged user base, is no exception. For financial professionals, leveraging Instagram can be a powerful way to showcase expertise, establish credibility, and build stronger relationships. In this blog post, we will discuss the best practices for building your Instagram business profile as a financial professional that will give your social selling a boost.
Choose a Professional Username and Profile Picture
Start by selecting a username that reflects your name or your financial business's name. Keep it simple and easy to remember. Use a high-quality profile picture, such as a professional headshot or your company logo. This picture will be the first impression potential followers have of you.
Optimize Your Bio
Craft a concise and informative bio that clearly defines your role and expertise. Use relevant keywords, such as "Financial Advisor," "Mortgage Loan Officer,” or "Insurance Agent." Include a brief but captivating description of the value you provide to your customers. Highlight any unique selling points or specializations.
Content Strategy
Determine your content niche. Share content that aligns with your expertise, such as investment tips, financial planning advice, or market insights. Develop a content calendar to ensure consistency. Aim for a mix of educational, inspirational, and personal posts. Use high-quality images and graphics to enhance your posts. Visual appeal is essential on Instagram!
Engage Your Audience
Respond promptly to comments and direct messages. Engaging with your followers builds a sense of trust and connection. You want your followers to engage with your posts, so do the same for them! Like, comment, and share to help increase visibility.
Use Hashtags Wisely
Research and use relevant hashtags to increase the discoverability of your posts. Utilize both industry-specific and popular hashtags. Best practice is to use 5-10 hashtags per post as they relate to the content.
Collaborate and Network
Collaborate with influencers or other professionals in your industry. Guest posts or shoutouts can expand your reach. Attend industry events and share your experiences on Instagram. It’s all about taking those in-person relationships online, too.
Educate and Inform
Share informative and educational content that empowers your audience. Explainer videos, infographics, and step-by-step guides can be especially valuable. Stay up-to-date with the latest financial news and trends, and share your unique insights with your followers. Always provide value!
Analytics and Optimization
Regularly analyze your Instagram Insights to understand which content performs best and when your audience is most active. Use this data to refine your content strategy and posting schedule for optimal engagement.
Promote Your Services
While Instagram is a platform for sharing valuable content, don't forget to promote your services subtly. Share client success stories or case studies to showcase your expertise in action.
Stay Compliant
Ensure that your posts comply with industry regulations and guidelines. Be transparent about any potential conflicts of interest. Luckily, platforms like Denim Social that are built for the financial services industry can help with that!
In conclusion, Instagram can be a valuable tool for financial professionals to connect with clients and prospects. By following these best practices, you can build a strong and trustworthy online presence that sets you apart in the competitive world of finance. Remember that consistency and authenticity are key to establishing a successful Instagram business profile for financial professionals. See our Denim Social guide to building stronger customer relationships on Instagram here!
Connecting with customers and prospects on social media is a natural extension of the financial services industry becoming more digital. Consumers expect the businesses they patronize to be on the same social platforms they use — and they expect those brands to be ready to interact with them. Case in point: A survey of over 500 social media users found that nearly three-quarters follow organizations on social platforms, and the vast majority of them interact with those brands on social.
Social media is the perfect tool for financial institutions to build brand awareness, meet the demand for greater digital engagement, recruit prospective customers, and drive referrals.
While social media is a great way to connect with customers and prospects, it’s not without its risk. It’s essential to use social media tools that will keep your team in compliance.
1. START WITH A SOCIAL SELLING STRATEGY.
There are few limits to how you can connect with customers and prospects on social media, but it needs to be about more than posts from a brand page. Direct messaging is always an option for private communication, but to reach more people at scale, social sellers (i.e., agents, loan officers, financial advisors, intermediaries, etc.) should also be posting original content, resharing educational articles, responding to comments and questions, and liking others’ posts. With so many options, it’s important for marketers to craft a social selling strategy that guides social sellers in their social interactions on behalf of the institution.
A well-thought-out strategy can ensure effective social selling. For instance, rather than posting on channels at random and hoping for the best, social sellers can determine which social media platforms suit them best based on audience engagement and follower counts; then they can focus their efforts there. Consider also equipping intermediaries with a library of branded content they can mix in with their personal posts. This strategy will inform your all-important social media policy moving forward.
2. TURN YOUR STRATEGY INTO A DETAILED POLICY.
In a heavily regulated industry, it’s essential for firms to have a comprehensive social media policy. This is a package of brand messaging in a detailed policy to help ensure consistency when social sellers post on your behalf.
Take the plan you mapped out in your strategy and turn it into a documented policy that intermediaries can access easily. Social media and the way people use it continues to evolve, which is why your social media policy should always be a work in progress. Make updates periodically to account for shifts in your approval workflow, changes in messaging, and general social media best practices. As social sellers become savvier, your policy will grow more detailed.
3. MAKE TRAINING AN ONGOING EFFORT.
Intermediaries who are new to social media will require initial training — but it shouldn’t be a one-and-done initiative. Hold regular social selling workshops to keep all social sellers up to date on your social media policy and messaging.
You can also use workshop time to walk your team through any tools you invest in to fuel social media efforts. Denim Social, for example, offers live product demos you can share to show them how to use the technology and get the most benefit.
Demonstrate how the software streamlines the approval process for posts and automatically archives them for future reference. The more they know, the more comfortable they’ll be using such tools to facilitate social selling efforts. The great news is, our customer success team is here to help get your team trained and ready.
Social media opens up a world of opportunity for financial institutions to reach and engage customers and prospects, but that doesn’t mean you should set your team free to do as they please. The right strategy and social media management software can make it a lot easier to avoid mistakes and create a successful social selling strategy. Want to see how Denim Social can help your team up their social media game? Schedule a demo today!
Instagram stands out as the shining star of social media platforms. While Facebook still reigns supreme and TikTok grows, Instagram is quickly catching up fast with more than 2 billion users worldwide.
With users under age 34 making up nearly 60 percent of this user population, financial services marketers looking to reach younger generations should take note. And with an estimated sum of $68 trillion in wealth expected to transfer from Baby Boomers to Millennials in the next couple of decades, Millennials are a worthwhile target.
Studies predict that, after inheriting wealth, 80% or more young heirs will seek out a new financial advisor. Considering that 9 in 10 accounts follow at least one business on Instagram and 8 in 10 users find new products and services in the app, it’s a safe bet that Instagram will be a place to influence many Millennials. Wise financial services marketers will meet them where they are with strong Instagram marketing strategies, and the following tips can help:
1. Focus on paid ads
Instagram is a visual platform for sharing photos and videos, so it’s important for brand pages to populate their profiles with organic posts. While this presence is important, organic content isn’t what will move the needle on business goals. Financial services aren’t exactly visually interesting, and organic posts tend to have low reach as they only show up in the feeds of a brand’s current followers. Without the ability to include hyperlinks in captions, they also won’t drive any traffic back to your site. If you want to build the type of following needed to generate new business, including paid advertising in your Instagram marketing strategy is your ticket.
With Instagram advertising, institutions and advisors can target ads to land with exactly the right audience — even outside their follower base — and include links in posts to drive more traffic to the brand. With a specific call to action that directs consumers to learn more about a topic, Instagram ads offer a straight-line path to giving customers the valuable information they desire — in their own time and at their own place. What’s more, Instagram advertising is seamlessly integrated directly into Instagram feeds and stories, creating a smoother user experience all around.
2. Connect with consumers on a local level
Instagram marketing on the corporate brand level is a great starting point, but advertising on behalf of your individual advisors can take your strategy to the next level. Think of it this way: If a consumer sees a well-known brand on social media, they might recognize the name, but they won’t feel an intrinsic connection beyond initial familiarity. In contrast, they’ll feel familiarity and an immediate connection when they see a post from an advisor in their own community. Consumers want to build relationships with brands, and a shared community is a great starting point.
Of course, most advisors and other financial services employees are not experts on how to market the business on Instagram. And marketers know they must keep all social media marketing for their financial institutions compliant to avoid heavy regulatory reprimands. To keep posts compliant, save employees time, and help them build relationships with consumers in their physical communities, financial services marketers can set up and run ads on their behalf.
3. Micro-target content to your audience
As big-name brands like Amazon continue to elevate the digital customer experience with seamless customer service, purchasing, and delivery, customer expectations are higher than ever before. When customers evaluate a financial institution, they compare it not only to other organizations in the industry, but also to tech giants in any industry that give them exactly what they need when they need it.
They expect a high level of personalization and convenience, and Instagram marketing with paid advertising can help you give it to them. Match basic behavioral and geographic data to potential customers on Instagram to target ads, and then track clicks, engagements, and post-click actions. These data points don’t indicate much on their own, but together they offer a rich story about what consumers want. Continually refine your strategy with these data points in mind to deliver the kind of highly personalized experiences your audiences want on Instagram.
With a large Millennial user base that engages actively with brands online and the ability to target highly personalized ads to exactly the right audiences, Instagram is a must-have in any financial services marketing strategy. To learn more about how Instagram marketing can work to drive your business forward, download our guide to building stronger customer relationships on Instagram for free today.
Make the most of your social media pages and posts by optimizing your images and including essential information about your business on each platform. By giving customers an optimal digital experience, you can broaden reach and provide better customer service through your digital platforms.
IMAGE SIZING:
Profile picture: 176 x 176px (desktop), 196x 196px (smartphones)
Cover photo: 820 x 312px (desktop), 640 x 360px (smartphones)
Keep the main content of your image centered. On a desktop the photo will display as 840x312px, but on mobile will size down to 640x360px.
Facebook post image: 1200 x 630px
The ideal width for a Facebook post image is 1200px, but height can vary based on what type of device the image display is optimized for. We recommend keeping it at the recommended size to keep consistency on all devices.
When creating a Facebook Ad graphic, any text should not take up more than 20% of the photo. You can find a cheat sheet here: https://www.facebook.com/ads/tools/text_overlay.
Facebook Video: 1280 x 720px
The optimal length for a short-form video on Facebook is 15 seconds to 1 minute; for a long-form video, it is 3 minutes. The maximum file size is 10GB.
Facebook Link Image: 1200 x 630px
Make sure to claim ownership of your links for the ability to change the link preview photo. You can find more info on that here: https://www.facebook.com/business/help/528858287471922?id=708699556338610.
Carousel Post: 1080 x 1080px
Carousel posts are a great way to display multiple services or features that you offer to your customers. When placing a Facebook ad you can link each carousel photo to a different link, making it easy for people to navigate to your specific products.
Facebook Story: 1080 x 1920px
Make the most of your stories by using all of your space and creating a fullscreen experience.
IMPORTANT PAGE INFORMATION:
Page name:
This is where you can name your Facebook Page, but be sure to keep it shorter than 75 characters.
Page username:
Customize your page URL by adding a username, making it easier for people to locate and navigate people from other digital platforms. Your Facebook URL can include up to 50 characters.
Page call to action:
Facebook gives you a variety of choices on calls to action. For example, if you’d like customers to contact you by email, you can set up a “Send Email” button with your email address connected and ready to go.
IMAGE SIZING:
Profile picture: 400 x 400px
Upload your business logo here to personalize your profile. If this page is for an individual, this is where you will upload their headshot.
Cover Photo: 1584 x 396px
Having a personalized business cover photo will make your profile look more professional and give you the opportunity to provide page visitors with more of the look and feel of your business. This can include an image related to your business or a graphic with information on services you provide or your business slogan.
LinkedIn post photo: 1200 x 628px (mobile), 1200 x 1200px (desktop)
When targeting an audience on both desktop and mobile, make sure that you optimize for mobile to give people the best experience.
LinkedIn Link Photo: 1200 x 628px (mobile), 1200 x 1200px (desktop)
Providing an image with your link preview can help give viewers a better idea of article content and improve your click thru rates.
LinkedIn Link Video: 4096 x 2304px maximum, 256 x 144 pixels minimum
The optimal video length for LinkedIn is 30-90 seconds and the maximum file size is 5GB.
IMPORTANT PAGE INFORMATION
Page name:
This is where your business name is located, as well as your company industry, location, and number of followers.
Page description:
Add your business slogan, mission, or a short description that tells people what your company, products, and services can do for them.
X (Formerly Known as Twitter)
IMAGE SIZING
Profile picture: 400 x 400px
Upload your business logo or headshot to personalize your profile.
Cover photo: 1500 x 500px
Be sure to center your content to give your followers an optimized experience on mobile.
Twitter post photo: 1600 x 900px
Allow your followers to see the entirety of the photo in their feed by adhering to this sizing guideline. The maximum file size is 5MB.
X video: 1280 x 720px (desktop, recommended), 720 x 720px (mobile)
The optimal video length for Twitter is 20-45 seconds and the maximum file size is 512MB.
IMPORTANT PAGE INFORMATION
Underneath your profile photo, your company name and username will be displayed.
Write a short bio to tell people more about your business.
IMAGE SIZING
Profile photo: 110 x 110px
Your profile picture will be small, so be sure your image is sized correctly and centered. This is a great place for your company logo.
Profile thumbnail: Displays as 161 x 161px
This is a preview of your large image post, but looks best when the photo posted is square.
Highlight Cover: 1080 x 1920px
Your cover photos should have centered images to give your highlight reel a balanced look. You can also name your highlights, but be concise as they can only be 15 characters long.
Instagram Feed Photo: 1080 x 1080px (square), 1080 x 1350 (portrait), 1080 x 566 (landscape)
The recommended width for all Instagram feed photos is 1080px, but the height can vary. To optimize for your feed display within your profile, we recommend using the sizing listed above to keep your image square.
Instagram Feed Video: 1080 x 1080px (square), 1080 x 1350 (portrait), 1080 x 566 (landscape)
The optimal length for an Instagram video is 30-60 seconds and the max file size is 650MB.
Instagram Feed Ad Photo: 1080 x 1080px
Your ad photo will display the same as a normal feed photo, but with a link attached. When creating an ad in Ads Manager, you’ll be able to upload a separate photo for Instagram to keep your photos optimized for the user experience.
Instagram Story: 1080 x 1920px (portrait), 1080 x 601 (landscape)
Make the most of your stories by using all of your space and creating a fullscreen experience. The maximum length of the story is 60 seconds.
Instagram Reels & Live: 1080 x 1920px
Reels can be used to offer tutorials, demos, or service features. These will be saved under your profile page for viewers to go back and watch at their leisure. The maximum length for Reels is 90 seconds. For Live, this can be used for announcements, events, or other Q&A sessions. These can also be saved for later viewing, and can last up to 4 hours.
So you've invested the time, energy, and money into building a website that details all of your financial products and services, and you have a solid social media strategy in place — but do you have any means of connecting the two? A full digital marketing strategy requires a connection point to lead prospects along the digital journey and toward conversion. Landing pages can serve as the bridges you need.
These pages live on your website and hold information geared toward specific audience segments. For example, if an insurance agent is interested in helping first-time homebuyers with homeowners insurance, a social media post on the subject could include a link to a landing page on your website with even more resources for new buyers.
Landing pages are important because no matter how well-built your website homepage is, it simply can’t serve the needs of every consumer — not conveniently, at least. Without landing pages, site visitors arrive on the homepage and are left to dig through the site for specific information on their own. Landing pages, on the other hand, allow visitors to arrive at your site in the exact place they want to be. It’s the best way for financial institution marketers to quickly and easily offer content that meets the specific needs of various target audiences.
Customers want this level of personalization, and they're open to the idea of trading their information for it. In fact, more than three-quarters of consumers in one study said they would be willing to give more personal data in return for more tailored services. When customers submit their contact information through a form to download the content on your landing page, not only are they getting tailored content, but you're getting data that can fuel more personalized outreach directly to primed prospects. And that leads to higher conversion rates.
Start creating landing pages by planning a page for each promotion in your overall marketing campaign or for each of your target audiences. Then, we recommend the following steps to drive conversion:
1. Keep it simple and direct.
Ultimately, the goal of a landing page for financial institutions is to learn more about prospects by gathering their information in the form field. For visitors, the clearer the path to the field, the likelier they will be to share their data. Don’t fill a page with too many images, multiple offers, and other clutter — you’ll just increase the chances of visitors bouncing off the page before taking action. Instead, stick with concise, clear messaging, easy-to-follow directives, strong calls to action, and impactful design elements.
2. Leverage pre-built, fully customizable templates.
Few marketing professionals have the bandwidth or experience to build a whole webpage on their own. Fortunately, software like Denim Social with landing page functionality will offer pre-built, customizable templates that allow you to start with a page already optimized for conversion.
From there, you can easily customize the content, form fields, colors, images, and video on each page to fit your campaign goals. The key here is to keep a consistent style across pages so each one fits under your overall brand umbrella.
3. Scale, scale, scale!
The real beauty of using pre-built, customizable templates is the ability to design, build, and launch landing pages at scale. Denim Social’s code-free interface makes it easy for anyone to populate many templates with customized elements — no web design expertise required. Just personalize, publish, then easily iterate and adjust based on conversion data.
In practice, this looks like building hundreds or even thousands of highly professional landing pages in just minutes. That’s a lot more opportunity for targeted messaging than one broad website homepage on its own.
Landing pages are one of the most effective tools at your disposal to create tailored experiences, capture valuable information, and generate high-quality leads. With the right platform, any marketer can build landing pages at scale and propel more prospects toward conversion.