Financial Social Media

One of the projects I’ve most enjoyed in my time here involved financial social media. It’s gotten me interested in learning more about the best ways to use social media platforms for financial clients. One article I read recently listed all of the reasons why financial services providers can’t afford not to engage in social media. Several surveys of advisors and investors indicated that they’re using these platforms in a major way. This article also pointed out that potential clients are all using tablets and smartphones. It’s not just kids anymore – succeeding in the finance world requires a financial social media presence. Another thing the article noted: even if you haven’t established a presence for your finance business on social media platforms, the competition probably has. They are reaching current and potential customers and clients in ways that you aren’t. And don’t think that SEC regulations are a good excuse for sticking to traditional platforms. Many companies have found creative ways to work within federal guidelines and work with their compliance departments to engage in financial social media. A whole business has sprung up around helping financial services professionals use social media and stay compliant. There is software designed to help with that; also, some financial services PR firms have a great deal of expertise in financial social media. Financial social media can mean a number of different things. It can mean creating smartphone and tablet applications that let customers and clients interact with you, or interact with each other. It can also mean establishing a presence on Facebook, Twitter, YouTube and some of the other major platforms. For example, speeches from the CEO can be uploaded on YouTube, or special content can be created and offered exclusively on the video site. Survey results and things of that nature can be posted on Twitter; you can watch the news spread by seeing who retweets the information. On Facebook, your financial services company can post quick, informal surveys to learn about follower habits and opinions. Customers are already on all of those platforms, and you may be surprised to find that many of them are talking about their day-to-day experiences with your business. They’re talking about your ATM fees, their experiences with your customer services representatives, how their investments are faring – things you may not expect if you are of a more traditional mindset. So why not join the conversation? Financial social media has a number of valuable uses. rnFor more information visit to http://www.makovsky.com