Utilizing Social Media for Your Traditional Bank 

Over the past few years, social media has only further cemented itself as one of the most powerful tools for brands to expand their audience and footprint within their industry. For those more traditional organizations, they’ve met a challenge when it comes to deciding whether there’s a place to take advantage of its power and market themselves across today’s leading networks. When most people think of platforms like Facebook or Instagram, they often consider some of the top clothing brands or largest influencers, though, in addition to your colorful feeds of graphic sweatshirts and extreme vacations, there’s also a unique opportunity for something as traditional as your everyday bank. Read on for our POV on how social media could be the best marketing tool for you. 

Everyone, any time.  

According to Statista, over 223 million people used social media in 2020, and a majority of them signed in every day to platforms like Facebook and Instagram. With a variety of users present on each platform, your traditional bank has a unique opportunity to easily reach the intended audience, regardless of how large or niche its product may be. By creating a presence on one of these platforms, you allow your audience to access you or your resources in an environment that feels natural and part of the everyday norm, encouraging the intended conversion. Plus, you can join the nearly 9 out of 10 banks that like to stay active there too.  

Showcase your brand.  

One of the best advantages of utilizing social media as a marketing tool is the chance to raise brand awareness while attracting people to your brand based solely on its unique likeness. In today’s world of aesthetically pleasing Instagram feeds and carefully curated content, you have an opportunity to attract customers to your bank through the use of fun or resourceful graphics and offerings, which in turn can bring in new prospects or keep existing customers more receptive to it. Create and stay consistent with your individual style of brand guidelines including colors, fonts, and graphics that will encourage new followers and greater engagement. 

Build a sense of community.  

With its original intention to be comprised of networks based on the sole purpose of sharing life updates, social media has created a space for brands to communicate directly with their intended audience; providing catered resources or immediate engagement to better optimize customer satisfaction. In turn, this sense of community can serve as a valuable retention strategy and keep both your brand and audience engaged in the current conversation or offerings you’re focused on promoting.  

Make customer service more accessible. 

Great customer service is essential and effective on its own, but utilizing social media to go to the next step where people spend most of their days is one of its greatest strengths. With the help of a few canned, common questions and accompanying answers, social media could serve as a new place to assist customers with any immediate issues or questions that may arise and help your brand better manage incoming needs. From an external and prospective point-of-view, this hands-on, easily accessible approach can create a great impression, and in turn, make your brand appear more reachable where many need you most. 

Social media continues to prove its power no matter which industry you fall under, and when it comes to traditional banks, it could be the marketing tool to help drive more business and meaningful interactions with your intended audience. 

Learn more about financial and bank marketing from The Cyphers Agency here. https://thecyphersagency.com/our-clients/bank-marketing/  

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