Thursday, July 25, 2024

Effective Social Media Strategies for Banks and Insurers

The marketing strategies of banks and insurance companies are changing at a rapid pace in today’s digital world. Newspaper ads, TV ads or billboards are no more effective these used to be earlier. The changes are based on the truth that lately people are spending more time on social media.

Jim Marous from The Financial Brand spoke with Dr. Robin Kiera, who is a leading expert in finance and insurance marketing and has a big following on various social media platforms including TikTok, LinkedIn and Twitter.

Dr. Kiera said that financial institutions need to understand where their audience is and what they care about. He adds that they could make educational videos on TikTok or sharing industry news on LinkedIn.

He suggested avoiding some common mistakes and not to hire an agency that does not understand finance. He strongly recommended not to let inexperienced staff to their run social media accounts.

Dr. Kiera further stated that it is all about knowing audience and thereafter creating content accordingly. It can be short videos that explains financial concepts or funny posts that reveals the company’s personality. In short, it is all about making a real connection.

Do note here that human interaction is the key as people usually wants to talk to real people and not to robots. This is the reason having a human touch on social media is so important.

Simultaneously, keeping track of the metrics is important as the numbers help in revealing whether the social media efforts are paying off.

The advice of Dr. Kiera is valuable for financial marketers as short-form video content is now being more embraced by the platforms.

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