July 1, 2021

4 ways to reach a larger social media audience

Gone are the days of sharing helpful, compliant content organically from your bank’s social media profile and seeing significant reach and engagement.

Social media platforms today frequently update their algorithms to make branded content less visible. In January, for example, Facebook announced algorithmic changes to filter every post through integrity filters, a multifaceted scoring system and even a contextual pass.

You might be wondering whether social media is even worth the try anymore in the broader scope of marketing efforts. The answer is a resounding yes. Your prospects and customers are still on social media, perhaps more than ever before. For example, 86 percent of Baby Boomers use social media daily. That’s only 3 percentage points less than Gen Z. With physical banking on a downward trend, banks have to meet people where they are if they want to continue making connections and building relationships.

The following steps can help financial services provider skirt tricky algorithms to get in front of the right audiences:

Don’t avoid organic altogether: Organic social media is still an important jumping-off point, and a key asset to help your brand cut through is your employees. Research from LinkedIn shows that employees have 10 times the following on LinkedIn compared to their employers and that employee posts on LinkedIn create twice the engagement. When employees share with and engage customers and prospects from individual accounts, they humanize the brand beyond brand profiles alone — in the eyes of audiences and algorithms.

Social media algorithms favor people and person-to-person conversation. Because more engagement means greater algorithmic scoring, you can bet that the more people who engage with an employee post, the more social media users will see that post in their feeds.

Pay to play: Of course, one of the biggest advantages of organic social media is that it’s free — but paid advertising doesn’t take a huge investment, either, and the returns can be well worth the initial spend and effort. Consider, for instance, pulling back your marketing budget from traditional out-of-home advertising tactics that have lost their impact as people stay home and reallocating the spend toward paid social efforts.

Paid ads actually help you optimize your advertising budget more than organic alone because you can target them. You can build a targeting strategy based on your ideal persona’s demographics, activities, interests, etc. — which means you can make better-informed decisions about what content to share with whom. Audiences will appreciate the posts’ relevance, and bank associates will appreciate knowing that social media outreach efforts aren’t wasted on the wrong audience.

Provide value with content: While great content isn’t the only thing you need for success today, it is still a crucial factor because it serves as a helpful resource for audiences. Think beyond promotion when creating and distributing ad content. Consider how to create real value.

Content should both highlight your expertise and help educate readers. Guidebooks, blog posts and videos are among many valuable content tools. And you don’t have to limit a post to include only one of them. Instead, link to a landing page on your website from a social media ad. Viewers will go to the page that houses all the relevant, valuable content they want.

What’s more, if you include form fields requesting visitor information in return for downloading some of that content, you’ll get valuable consumer data in your hands that can help you drive more conversions.

Think strategically about retargeting:  To further optimize your approach for even greater ROI, consider retargeted advertising. This means serving social media advertisements to people you know already engage with your website, social media pages or content.

Don’t just retarget campaigns to every person who has ever shown interest in your brand, however. This approach is likely too broad to create much impact, especially when customers today are all about personalization. Instead, divide your audience into segments and create specific campaigns for each.

For example, people who visited your blog might be more receptive to more educational content, while those who visited your contact page might be closer to conversion and ready to hop into a conversation with your sales team. Even in retargeting, precision is the name of the game.

The bottom line is: If your bank’s social media strategy is only organic, you won’t see enough ROI to justify your time and effort. But if you level up with employees, paid advertising and valuable content, you can optimize your efforts beyond what even the best organic strategy would allow to overcome algorithmic roadblocks and get in front of exactly the right people.

This article was originally published on BAI.org.

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July 1, 2021

4 ways to reach a larger social media audience

By
Doug Wilber
CEO, Denim Social

Gone are the days of sharing helpful, compliant content organically from your bank’s social media profile and seeing significant reach and engagement.

Social media platforms today frequently update their algorithms to make branded content less visible. In January, for example, Facebook announced algorithmic changes to filter every post through integrity filters, a multifaceted scoring system and even a contextual pass.

You might be wondering whether social media is even worth the try anymore in the broader scope of marketing efforts. The answer is a resounding yes. Your prospects and customers are still on social media, perhaps more than ever before. For example, 86 percent of Baby Boomers use social media daily. That’s only 3 percentage points less than Gen Z. With physical banking on a downward trend, banks have to meet people where they are if they want to continue making connections and building relationships.

The following steps can help financial services provider skirt tricky algorithms to get in front of the right audiences:

Don’t avoid organic altogether: Organic social media is still an important jumping-off point, and a key asset to help your brand cut through is your employees. Research from LinkedIn shows that employees have 10 times the following on LinkedIn compared to their employers and that employee posts on LinkedIn create twice the engagement. When employees share with and engage customers and prospects from individual accounts, they humanize the brand beyond brand profiles alone — in the eyes of audiences and algorithms.

Social media algorithms favor people and person-to-person conversation. Because more engagement means greater algorithmic scoring, you can bet that the more people who engage with an employee post, the more social media users will see that post in their feeds.

Pay to play: Of course, one of the biggest advantages of organic social media is that it’s free — but paid advertising doesn’t take a huge investment, either, and the returns can be well worth the initial spend and effort. Consider, for instance, pulling back your marketing budget from traditional out-of-home advertising tactics that have lost their impact as people stay home and reallocating the spend toward paid social efforts.

Paid ads actually help you optimize your advertising budget more than organic alone because you can target them. You can build a targeting strategy based on your ideal persona’s demographics, activities, interests, etc. — which means you can make better-informed decisions about what content to share with whom. Audiences will appreciate the posts’ relevance, and bank associates will appreciate knowing that social media outreach efforts aren’t wasted on the wrong audience.

Provide value with content: While great content isn’t the only thing you need for success today, it is still a crucial factor because it serves as a helpful resource for audiences. Think beyond promotion when creating and distributing ad content. Consider how to create real value.

Content should both highlight your expertise and help educate readers. Guidebooks, blog posts and videos are among many valuable content tools. And you don’t have to limit a post to include only one of them. Instead, link to a landing page on your website from a social media ad. Viewers will go to the page that houses all the relevant, valuable content they want.

What’s more, if you include form fields requesting visitor information in return for downloading some of that content, you’ll get valuable consumer data in your hands that can help you drive more conversions.

Think strategically about retargeting:  To further optimize your approach for even greater ROI, consider retargeted advertising. This means serving social media advertisements to people you know already engage with your website, social media pages or content.

Don’t just retarget campaigns to every person who has ever shown interest in your brand, however. This approach is likely too broad to create much impact, especially when customers today are all about personalization. Instead, divide your audience into segments and create specific campaigns for each.

For example, people who visited your blog might be more receptive to more educational content, while those who visited your contact page might be closer to conversion and ready to hop into a conversation with your sales team. Even in retargeting, precision is the name of the game.

The bottom line is: If your bank’s social media strategy is only organic, you won’t see enough ROI to justify your time and effort. But if you level up with employees, paid advertising and valuable content, you can optimize your efforts beyond what even the best organic strategy would allow to overcome algorithmic roadblocks and get in front of exactly the right people.

This article was originally published on BAI.org.

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Social marketing can be customized to fit virtually every advertiser’s need, thanks to its wide array of targeting options. However, it can also be overwhelming for financial institutions to understand how to harness the full benefits of paid social media advertising. With the tools now available, how do financial institution marketers find the right target audiences and expand reach effectively?

By tapping into paid social advertising, financial institutions can put their ads in front of the right people at the right time. Whether it’s reaching new customers or addressing the needs of existing customers, paid ads help financial institutions find customers who not only fit the demographics they are looking to target, but also who are actively interested in the products or services they’re offering.

While different social media networks may have different rules or regulations for financial institutions, social media advertising drives results that make risk well worth it. And with Denim Social’s platform, you can be confident that no post will go live without being fully compliant.

How to Create Effective Campaigns to Reach Your Target Audience

Once you’ve chosen a social media network, you need to understand how to best utilize it. Social media’s power isn’t just in finding the people most receptive to your message. It’s also in helping you deliver the most effective advertising possible. As one of the top players in paid social advertising, Facebook offers a few different tools to help you do this, and other social media channels have similar features.

Facebook’s Audience Insights feature provides you with aggregate data on current followers and other Facebook users. Here, you can see a breakdown of useful information, such as relationship statuses, job titles, hobbies, and interests. This data can be channeled into creating content that’s more likely to capture your audience’s attention and keep them engaged.

Also useful are its Page and Video Insights, which show how your audience responds to your content and who your most active followers are. By looking at metrics like how long people watch your videos, who clicked on certain links, or where your most engaged users are from, you can continuously improve the effectiveness of your paid social advertising and your social media content in general.

3 Steps for Finding and Reaching Your Most Profitable Audience

Whatever platforms and tools you use, remember that experimentation is one key to reaching audiences effectively. Another is using those tools to create target audience profiles with data-based strategies. Begin with these steps:

1. Start with your Core Audience.

Your Core Audience is the foundation upon which you’ll build your social media marketing strategy. It should be made up of people who align with your broader business and marketing objectives — as well as those who already follow you on social media.

On Facebook, there are five simple but powerful criteria you can use to flesh out this audience: location, demographics, interests, behavior, and connections. For example, in the mortgage industry, you would limit your Core Audience to those who live in the geographic area you serve. You could also target those whose behavior indicates a recent interest in home financing.

2. Use Custom Audiences to reach out to people engaging with your content.

Now that you have a solid foundation, you need to build on that by adding those who have shown interest in your content. That’s where Custom Audiences come into play. With this feature, you can connect with people who have not only liked your page, but also have visited your website or downloaded your app. Custom Audiences also make it possible for institutions to include existing lists of leads and targets, ensuring that your targeted ads reach the maximum number of interested parties.

A mortgage loan officer, for instance, could take advantage of this feature by targeting ads to people who’ve visited their financial institution’s website, rather than only relying on the same basic demographics that other loan officers in the area are probably using.

3. Disrupt your competition with Lookalike Audiences.

The first two steps of this social marketing process should give you a reliable, engaged pool of potential customers to whom you can advertise. However, if you stop there, your ability to grow that pool will be limited. To reap the full benefits of paid advertising, you need to take advantage of Facebook’s algorithms with Lookalike Audiences.

This feature allows you to find people with similar interests, behaviors, and characteristics to your Custom and Core Audiences. By picking a percentage range of how much you want your new audience to match your current one, you can choose to either reach a wider, more general audience, or find people almost identical to your current target. It’s completely up to you.

This can be a very effective tool, especially in financial services. The ability to launch a lookalike ad campaign for a particular location and demographic could help you connect with high-quality targets who may have never connected with you if they hadn’t seen your ad. In many cases, these new leads are already seeing ads from similar institutions, which means you’re now getting a chance to bring your brand top of mind.

Paid social media ads can be some of the most effective advertising out there, both in terms of the number of conversions and cost-effectiveness. For financial institutions who want to be strategic about their target audience and expand their reach, there’s no better place to start than with paid social media advertising. Ready to launch your own paid social advertising campaign? Request a demo to find out how Denim Social can help.

For financial services to successfully connect with their customers on social media, authenticity is essential. It is more important than ever for customers to feel genuinely connected to brands, and brands should stay true to their values and communicate in a way that is welcoming and personal. Customers support businesses that resonate on social media, and authenticity is key to strengthening that brand-customer relationship. Leading with a personalized approach on social media is the perfect opportunity to be a source of trust and reliability for financial customers. How can banks, mortgage offices, wealth management firms, and insurance agencies incorporate authenticity into their strategy? Start with these approaches: 

  1. Rely on user-generated content. User generated content is 12x more trusted than product descriptions, and brands see a 25% increase in conversion with organic images versus overly-curated ones. Through social selling, financial institutions can look to their own employees and customers to help produce authentic content to support the brand. Consider how you can activate your employees to engage in social selling, and leverage customer relationships to provide testimonials, user experiences, and more. 
  1. Incorporate video content into your mix. To meet customers where they are, it’s essential to use video as a tool in your social media strategy. With younger generations spending up to 4 hours per day on social networks, video is only going to grow in popularity. With video, customers can see for themselves what a business does every day, giving them a visualization to connect with. To make it more authentic, don’t over-edit and use storytelling to define the brand. Keep it short, though; attention spans on social media are shorter, and marketers only have a couple seconds to capture audiences.
  1. Keep audience experience top of mind. Brand loyalty among consumers continues to decrease given the surplus of choices that digital media and social networks provide. Customers are loyal to brands that they like and that they feel are authentic and care about them. Sixty-one percent of consumers switched business from one brand or provider to another in the past year, demonstrating a need to listen to customers on social networks. Businesses that can listen to customers and translate that into an authentic message or piece of content will see more success than those that push content out for the sake of it.
  1. Always offer value with content. When creating a healthy and balanced marketing mix for social media networks, don’t forget to be mindful of how to engage viewers. This is a great way for a financial brand to be authentic to what it does and how it helps customers. Social media offers endless opportunities to provide brand information, educate through thought leadership, and give insight into company values and missions. Customers want to feel that they are along for the ride with a brand, being welcomed rather than pursued. While content can be fun and entertaining, also remember to add value through content that is practical, useful, and enticing. 

Customers want real and authentic content on social media, and this presents opportunities for financial services to connect. The best practice is to keep content professional and on brand, but feel free to have fun and show that your organization is keeping up with the times as the industry continues to change and grow. Social media management platforms like Denim Social can help financial institutions to create and publish organically, and gives businesses the ability to manage posts at the brand and user level. The ability to show up and resonate with audiences on social media will be a winning strategy every time. Book a demo to see how publishing can work for you, and check out our existing social media resources for inspiration.  

The ability to collect, interpret, and act on current customer data to cross-sell targeted products and services is a critical driver of revenue for banks, especially for mortgage lenders. Borrowers purchase an average of 11 mortgages in their lifetime, yet lenders retain fewer than 20 percent of past customers on average. That’s a lot of missed opportunity.

One survey of nearly 300 financial institutions found that 64 percent of respondents are not using data to cross-sell to existing customers. It makes sense: In today’s fast-paced landscape, many financial services marketers have enough on their hands.

Digital marketing changes at a breakneck pace, and it can be difficult to keep up with constant developments, let alone all the data. Many marketers do not know how to access or analyze customer data to capitalize on cross-selling opportunities. Further complicating the situation, significant structural barriers, such as siloed teams, can limit communication between data analysts and marketers.

Many marketers pour the time and resources they do have into new customer acquisition, but cross-selling within the ranks of existing customers is a much more lucrative strategy. Acquiring new customers is significantly more expensive than retaining existing ones. An increase in customer retention rates by a mere 5 percent can boost profits by 25 to 95 percent.

Social media marketing strategy for cross-selling in banking

Fortunately, collecting the right customer data to fuel cross-selling efforts does not have to be a daunting task. A strong social media marketing strategy is an excellent means of collecting and acting on valuable data, and with the right approach, can be easy to pull off at scale. Consider the following key principles to effectively gather and integrate data from social media and up your cross-selling game:

1. Understand your audience and what’s important to them. Social media is an excellent listening tool. By tracking likes, comments, shares and click-throughs, you can gain valuable insights about what content is resonating with existing customers and where your cross-selling opportunities lie. Remember that tracking existing customer engagement is key; while the probability of selling to a new lead is just 5 to 20 percent, the probability of cross-selling to a customer is 60 to 70 percent.

Consider, for example, you’ve shared a post with tips for first-time homebuyers. the post gets a lot of engagement from your current followers, many of which have accounts with you. This could indicate that those customers are interested in securing their first mortgage.

2. Target your messaging strategically. Social media is also a strong targeting tool. Once you’ve gathered engagement data, create custom lists within your customer roster, and retarget those customers with paid social media ads for relevant cross-selling opportunities. Retargeting is a great way to add power to your existing organic social media strategy. Building onto the example above, this could look like targeting ads for first-time mortgage seekers to the existing customers who engaged with your first-time homebuying post.

When targeting paid ads, remember that timing can go a long way toward effectiveness and efficiency. You want to personalize ads to land the right messages at the right time. For example, a year after someone closes a mortgage with your institution, you know that they already own a home, trust your institution, and may be looking to do some home renovations. You can capitalize on the cross-selling opportunity by serving them an ad about home equity loans for improvements right when they’re likely considering diving into a new project.

3. Use content to keep customers engaged. You can also use engagement data to see which customers have not engaged with your team lately. Use paid social as an opportunity to remind these customers why they chose you in the first place and show them what you still have to offer with valuable digital journeys. Re-engagement initiatives shouldn’t create digital dead ends—they should lead your customers to engage further with your brand.

Link to personalized landing pages from both paid and organic posts to guide customers to valuable content and gate the content behind contact submission forms to collect more valuable data from customers. For example, your homebuying tips post will pique the interest of customers who are looking to secure their first mortgage. Include a link in the post to a landing page on your website that houses a guidebook on first-time mortgage seekers. Customers can put their information into the contact submission form in exchange for the guide, and the form can alert your team to make a follow-up call. The customer gets valuable information, and your team gets a cross-selling opportunity right in their hands.

Combined, these principles aim to boost revenue and build stronger relationships. When you use data to understand your customers, deliver content when it matters most and personalize the digital journey, you can keep customers engaged and offer them more and more value through targeted cross-selling opportunities.

This article was originally published in ABA Bank Marketing.

I was beyond excited to attend Adweek’s Social Media Week in New York City this week with some of my Denim Social teammates. Social Media Week is one of the world’s premier conferences covering the most up-and-coming trends and topics in the social media industry, and includes workshops on creating content, paid social advertising, and how to thrive in an ever-connected era from industry leaders. The team and I were excited to learn about the latest trends and best practices to bring it back to our customers in the financial services industry. 

Some of the latest social trends can feel unreachable within a regulated industry but there was a clear theme from all thought leaders that unified everything we heard: authenticity.

Authenticity will always resonate and it’s what audiences are craving in our overly-curated world. The pandemic taught us to focus on what matters most and consumers are expecting to see what matters most to them in their social feeds. 

So what does that mean for financial services? It’s simple. The same authenticity that financial services professionals have used to build relationships and trust with customers over the years is the same authenticity that will resonate on social media. Regulations can make social seem hard to conquer but if you show up as yourself, the trusted professional you already are, your social presence will become a natural extension of you and your business.

Beyond authenticity, here are a few other key takeaways from our time at Social Media Week:

  1. Find the platform mix that works for you; if your customers aren’t on a particular social platform, you don’t need to include those platforms in your mix
  2. Listen to what is resonating with your social audiences and consistently weave that into the content you’re sharing.
  3. Content should be differentiated across social platforms but your core message should stay consistent; even though content might look different from LinkedIn to Instagram, your message should stay the same.
  4. Attention spans have drastically decreased over the last 15 years (from 11 seconds to 2.5); let this drive what you say on social to keep your audience’s attention, make it matter!
  5. People trust people over brands; empower your localized sales forces (agents, advisors, loan officers, etc.) to be active on social and help them weave it into their everyday processes.

As we move forward in an age of technology, Denim Social is here to support financial institutions as they navigate all the new ways to reach customers and connect with them on a personal level. While the multitude of avenues for networking can seem overwhelming, it actually just means that there are more opportunities than ever for your business to provide value to meet your customers wherever they are. Keep following along with us for more social media news updates and insights on Instagram and LinkedIn.

Before a customer makes a purchase, they go through a decision process called the buying journey. They initially become aware of a brand, learn more about it, evaluate whether it’s an appropriate option for their needs, and finally, make the choice to buy in or not. For marketers in the financial industry, this customer buying journey presents an opportunity to utilize a full-funnel marketing strategy. This approach involves getting the right content and messaging in front of the right customer at the right time, strategically engaging them at each stage of the funnel in the lead up to purchase.

This full-funnel marketing approach is important to the customer buying journey; at each stage, it allows marketers to pique interest, build trust, and encourage action. With customers expecting brands to meet their needs online, this gives financial marketers a unique opportunity to connect with audiences by creating touchpoints along the way. Ultimately, a full-funnel strategy helps financial institutions align marketing efforts with business ROI. Let’s take a look at each stage of the buying process using a full-funnel approach and how social media can help move customers down the funnel.

Create Brand Awareness With Organic Social

The first step of the full-funnel marketing approach is awareness – a customer needs to know a business exists before they can do anything else. Here, customers learn about the brand and what value it provides. Through organic publishing with curated social media content, brands can share targeted messages with wide-reaching audiences.  Creating a robust and interesting content mix that informs, educates, and entertains is the first step in giving a brand a place in a customer’s mind.

Engage Audiences With Paid Advertising

While establishing a consistent organic content routine is the foundation of the full-funnel process, moving customers along the buying journey requires engagement. The best way to make sure that the right customers are viewing content is to target them through paid advertising. Social advertising campaigns allow marketers to multiply their efforts through the power of intelligent targeting and better manage audience behavior. This way, the people that see a paid ad will be the most likely to be interested in it and engage.

Encourage Consideration With Relevant Landing Pages

Any social media post, organic or paid, should lead a customer to a landing page, where they will visit a brand’s website to learn more. For example, a brand can link to a personalized landing page that includes a form to collect customer information in exchange for access to content. It’s mutually beneficial – a customer receives content and a business now has a lead to continue nurturing.

Convert and Retain Customers With Retargeting

Finally, conversion is where the magic happens. At this stage, a customer has the information they need to make a purchase decision. With retargeting, marketers can continue to lead the customer along the buying journey by connecting based on previous engagement. While converting a lead to a customer is an excellent way to track success, the journey doesn’t end there. Conversion is simply another step in the circular journey, as the next step is to grow them into a loyal customer that can then become a valuable resource and reference for the brand.

The overall key to successfully adopting a full-funnel marketing approach is to meet customers where they are, and encourage them to move along the buying process. And that involves addressing them at every stage of the funnel to raise brand awareness, answer questions about the brand, and nurture people through final decision-making. The customer journey and full-funnel approach is ongoing, and can be a great way to better understand how you are meeting business goals and expectations through social media efforts.

Want to be empowered to embrace marketing opportunities at each stage of the customer buying journey? Having the right social media management tools for financial services at your disposal is the first step. Get started with a demo today.

What is a financial institution to do when they see the potential in social media, but lack the tools and time to scale a strategy that drives meaningful results? If this sounds familiar check out our case study to learn how Denim Social helped Evolve Bank and Trust build and execute a social strategy that drove big results at the brand and branch levels, even with limited resources.

Click here to read the full case study.

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GUIDES

4 ways to reach a larger social media audience

Gone are the days of sharing helpful, compliant content organically from your bank’s social media profile and seeing significant reach and engagement.

Social media platforms today frequently update their algorithms to make branded content less visible. In January, for example, Facebook announced algorithmic changes to filter every post through integrity filters, a multifaceted scoring system and even a contextual pass.

You might be wondering whether social media is even worth the try anymore in the broader scope of marketing efforts. The answer is a resounding yes. Your prospects and customers are still on social media, perhaps more than ever before. For example, 86 percent of Baby Boomers use social media daily. That’s only 3 percentage points less than Gen Z. With physical banking on a downward trend, banks have to meet people where they are if they want to continue making connections and building relationships.

The following steps can help financial services provider skirt tricky algorithms to get in front of the right audiences:

Don’t avoid organic altogether: Organic social media is still an important jumping-off point, and a key asset to help your brand cut through is your employees. Research from LinkedIn shows that employees have 10 times the following on LinkedIn compared to their employers and that employee posts on LinkedIn create twice the engagement. When employees share with and engage customers and prospects from individual accounts, they humanize the brand beyond brand profiles alone — in the eyes of audiences and algorithms.

Social media algorithms favor people and person-to-person conversation. Because more engagement means greater algorithmic scoring, you can bet that the more people who engage with an employee post, the more social media users will see that post in their feeds.

Pay to play: Of course, one of the biggest advantages of organic social media is that it’s free — but paid advertising doesn’t take a huge investment, either, and the returns can be well worth the initial spend and effort. Consider, for instance, pulling back your marketing budget from traditional out-of-home advertising tactics that have lost their impact as people stay home and reallocating the spend toward paid social efforts.

Paid ads actually help you optimize your advertising budget more than organic alone because you can target them. You can build a targeting strategy based on your ideal persona’s demographics, activities, interests, etc. — which means you can make better-informed decisions about what content to share with whom. Audiences will appreciate the posts’ relevance, and bank associates will appreciate knowing that social media outreach efforts aren’t wasted on the wrong audience.

Provide value with content: While great content isn’t the only thing you need for success today, it is still a crucial factor because it serves as a helpful resource for audiences. Think beyond promotion when creating and distributing ad content. Consider how to create real value.

Content should both highlight your expertise and help educate readers. Guidebooks, blog posts and videos are among many valuable content tools. And you don’t have to limit a post to include only one of them. Instead, link to a landing page on your website from a social media ad. Viewers will go to the page that houses all the relevant, valuable content they want.

What’s more, if you include form fields requesting visitor information in return for downloading some of that content, you’ll get valuable consumer data in your hands that can help you drive more conversions.

Think strategically about retargeting:  To further optimize your approach for even greater ROI, consider retargeted advertising. This means serving social media advertisements to people you know already engage with your website, social media pages or content.

Don’t just retarget campaigns to every person who has ever shown interest in your brand, however. This approach is likely too broad to create much impact, especially when customers today are all about personalization. Instead, divide your audience into segments and create specific campaigns for each.

For example, people who visited your blog might be more receptive to more educational content, while those who visited your contact page might be closer to conversion and ready to hop into a conversation with your sales team. Even in retargeting, precision is the name of the game.

The bottom line is: If your bank’s social media strategy is only organic, you won’t see enough ROI to justify your time and effort. But if you level up with employees, paid advertising and valuable content, you can optimize your efforts beyond what even the best organic strategy would allow to overcome algorithmic roadblocks and get in front of exactly the right people.

This article was originally published on BAI.org.

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ALL GUIDES:

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

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.

Instant Download

Find out how more than 400 financial institutions across asset classes, geographies, and more used social media in 2020 to effectively support their business objectives. We’ve also outlined key trends to inform your social media future.

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!

Download this guidebook to learn how marketers are using social media to:

  • Drive business with the lowest digital spend compared to traditional media
  • Position employees as thought-leaders while leveraging their collective reach of their social media presence
  • Ultimately, build trust with their communities and customers that translates to positive business results

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.

Download this guidebook to learn how marketers are using social media to:

  • Drive business with the lowest digital spend compared to traditional media
  • Position employees as thought-leaders while leveraging their collective reach of their social media presence
  • Ultimately, build trust with their communities and customers that translates to positive business results

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

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!

Download this guidebook to learn how marketers are using social media to:

  • Drive business with the lowest digital spend compared to traditional media
  • Position employees as thought-leaders while leveraging their collective reach of their social media presence
  • Ultimately, build trust with their communities and customers that translates to positive business results

ABA Study: The Current State of Social Media

See what nearly 430 bank marketers had to say when asked questions such as:

  • Is it important to equip your sales personnel with social media accounts?
  • Does your bank measure the impact of your social media use?
  • 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.

    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.

    Download Here
    GUIDES

    4 ways to reach a larger social media audience

    Gone are the days of sharing helpful, compliant content organically from your bank’s social media profile and seeing significant reach and engagement.

    Social media platforms today frequently update their algorithms to make branded content less visible. In January, for example, Facebook announced algorithmic changes to filter every post through integrity filters, a multifaceted scoring system and even a contextual pass.

    You might be wondering whether social media is even worth the try anymore in the broader scope of marketing efforts. The answer is a resounding yes. Your prospects and customers are still on social media, perhaps more than ever before. For example, 86 percent of Baby Boomers use social media daily. That’s only 3 percentage points less than Gen Z. With physical banking on a downward trend, banks have to meet people where they are if they want to continue making connections and building relationships.

    The following steps can help financial services provider skirt tricky algorithms to get in front of the right audiences:

    Don’t avoid organic altogether: Organic social media is still an important jumping-off point, and a key asset to help your brand cut through is your employees. Research from LinkedIn shows that employees have 10 times the following on LinkedIn compared to their employers and that employee posts on LinkedIn create twice the engagement. When employees share with and engage customers and prospects from individual accounts, they humanize the brand beyond brand profiles alone — in the eyes of audiences and algorithms.

    Social media algorithms favor people and person-to-person conversation. Because more engagement means greater algorithmic scoring, you can bet that the more people who engage with an employee post, the more social media users will see that post in their feeds.

    Pay to play: Of course, one of the biggest advantages of organic social media is that it’s free — but paid advertising doesn’t take a huge investment, either, and the returns can be well worth the initial spend and effort. Consider, for instance, pulling back your marketing budget from traditional out-of-home advertising tactics that have lost their impact as people stay home and reallocating the spend toward paid social efforts.

    Paid ads actually help you optimize your advertising budget more than organic alone because you can target them. You can build a targeting strategy based on your ideal persona’s demographics, activities, interests, etc. — which means you can make better-informed decisions about what content to share with whom. Audiences will appreciate the posts’ relevance, and bank associates will appreciate knowing that social media outreach efforts aren’t wasted on the wrong audience.

    Provide value with content: While great content isn’t the only thing you need for success today, it is still a crucial factor because it serves as a helpful resource for audiences. Think beyond promotion when creating and distributing ad content. Consider how to create real value.

    Content should both highlight your expertise and help educate readers. Guidebooks, blog posts and videos are among many valuable content tools. And you don’t have to limit a post to include only one of them. Instead, link to a landing page on your website from a social media ad. Viewers will go to the page that houses all the relevant, valuable content they want.

    What’s more, if you include form fields requesting visitor information in return for downloading some of that content, you’ll get valuable consumer data in your hands that can help you drive more conversions.

    Think strategically about retargeting:  To further optimize your approach for even greater ROI, consider retargeted advertising. This means serving social media advertisements to people you know already engage with your website, social media pages or content.

    Don’t just retarget campaigns to every person who has ever shown interest in your brand, however. This approach is likely too broad to create much impact, especially when customers today are all about personalization. Instead, divide your audience into segments and create specific campaigns for each.

    For example, people who visited your blog might be more receptive to more educational content, while those who visited your contact page might be closer to conversion and ready to hop into a conversation with your sales team. Even in retargeting, precision is the name of the game.

    The bottom line is: If your bank’s social media strategy is only organic, you won’t see enough ROI to justify your time and effort. But if you level up with employees, paid advertising and valuable content, you can optimize your efforts beyond what even the best organic strategy would allow to overcome algorithmic roadblocks and get in front of exactly the right people.

    This article was originally published on BAI.org.

    Download the Guide

    Thank you! Your submission has been received!
    Download Guide
    Oops! Something went wrong while submitting the form.
    Download Guide
    ALL GUIDES:

    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

    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.

    Instant Download

    Find out how more than 400 financial institutions across asset classes, geographies, and more used social media in 2020 to effectively support their business objectives. We’ve also outlined key trends to inform your social media future.

    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!

    Download this guidebook to learn how marketers are using social media to:

    • Drive business with the lowest digital spend compared to traditional media
    • Position employees as thought-leaders while leveraging their collective reach of their social media presence
    • Ultimately, build trust with their communities and customers that translates to positive business results

    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.

    Download this guidebook to learn how marketers are using social media to:

    • Drive business with the lowest digital spend compared to traditional media
    • Position employees as thought-leaders while leveraging their collective reach of their social media presence
    • Ultimately, build trust with their communities and customers that translates to positive business results

    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

    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!

    Download this guidebook to learn how marketers are using social media to:

    • Drive business with the lowest digital spend compared to traditional media
    • Position employees as thought-leaders while leveraging their collective reach of their social media presence
    • Ultimately, build trust with their communities and customers that translates to positive business results

    ABA Study: The Current State of Social Media

    See what nearly 430 bank marketers had to say when asked questions such as:

  • Is it important to equip your sales personnel with social media accounts?
  • Does your bank measure the impact of your social media use?
  • 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.

    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.

    Download Here
    GUIDES

    4 ways to reach a larger social media audience

    Gone are the days of sharing helpful, compliant content organically from your bank’s social media profile and seeing significant reach and engagement.

    Social media platforms today frequently update their algorithms to make branded content less visible. In January, for example, Facebook announced algorithmic changes to filter every post through integrity filters, a multifaceted scoring system and even a contextual pass.

    You might be wondering whether social media is even worth the try anymore in the broader scope of marketing efforts. The answer is a resounding yes. Your prospects and customers are still on social media, perhaps more than ever before. For example, 86 percent of Baby Boomers use social media daily. That’s only 3 percentage points less than Gen Z. With physical banking on a downward trend, banks have to meet people where they are if they want to continue making connections and building relationships.

    The following steps can help financial services provider skirt tricky algorithms to get in front of the right audiences:

    Don’t avoid organic altogether: Organic social media is still an important jumping-off point, and a key asset to help your brand cut through is your employees. Research from LinkedIn shows that employees have 10 times the following on LinkedIn compared to their employers and that employee posts on LinkedIn create twice the engagement. When employees share with and engage customers and prospects from individual accounts, they humanize the brand beyond brand profiles alone — in the eyes of audiences and algorithms.

    Social media algorithms favor people and person-to-person conversation. Because more engagement means greater algorithmic scoring, you can bet that the more people who engage with an employee post, the more social media users will see that post in their feeds.

    Pay to play: Of course, one of the biggest advantages of organic social media is that it’s free — but paid advertising doesn’t take a huge investment, either, and the returns can be well worth the initial spend and effort. Consider, for instance, pulling back your marketing budget from traditional out-of-home advertising tactics that have lost their impact as people stay home and reallocating the spend toward paid social efforts.

    Paid ads actually help you optimize your advertising budget more than organic alone because you can target them. You can build a targeting strategy based on your ideal persona’s demographics, activities, interests, etc. — which means you can make better-informed decisions about what content to share with whom. Audiences will appreciate the posts’ relevance, and bank associates will appreciate knowing that social media outreach efforts aren’t wasted on the wrong audience.

    Provide value with content: While great content isn’t the only thing you need for success today, it is still a crucial factor because it serves as a helpful resource for audiences. Think beyond promotion when creating and distributing ad content. Consider how to create real value.

    Content should both highlight your expertise and help educate readers. Guidebooks, blog posts and videos are among many valuable content tools. And you don’t have to limit a post to include only one of them. Instead, link to a landing page on your website from a social media ad. Viewers will go to the page that houses all the relevant, valuable content they want.

    What’s more, if you include form fields requesting visitor information in return for downloading some of that content, you’ll get valuable consumer data in your hands that can help you drive more conversions.

    Think strategically about retargeting:  To further optimize your approach for even greater ROI, consider retargeted advertising. This means serving social media advertisements to people you know already engage with your website, social media pages or content.

    Don’t just retarget campaigns to every person who has ever shown interest in your brand, however. This approach is likely too broad to create much impact, especially when customers today are all about personalization. Instead, divide your audience into segments and create specific campaigns for each.

    For example, people who visited your blog might be more receptive to more educational content, while those who visited your contact page might be closer to conversion and ready to hop into a conversation with your sales team. Even in retargeting, precision is the name of the game.

    The bottom line is: If your bank’s social media strategy is only organic, you won’t see enough ROI to justify your time and effort. But if you level up with employees, paid advertising and valuable content, you can optimize your efforts beyond what even the best organic strategy would allow to overcome algorithmic roadblocks and get in front of exactly the right people.

    This article was originally published on BAI.org.

    Download the Guide

    Thank you! Your submission has been received!
    Download Guide
    Oops! Something went wrong while submitting the form.
    Download Guide
    ALL GUIDES:

    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

    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.

    Instant Download

    Find out how more than 400 financial institutions across asset classes, geographies, and more used social media in 2020 to effectively support their business objectives. We’ve also outlined key trends to inform your social media future.

    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!

    Download this guidebook to learn how marketers are using social media to:

    • Drive business with the lowest digital spend compared to traditional media
    • Position employees as thought-leaders while leveraging their collective reach of their social media presence
    • Ultimately, build trust with their communities and customers that translates to positive business results

    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.

    Download this guidebook to learn how marketers are using social media to:

    • Drive business with the lowest digital spend compared to traditional media
    • Position employees as thought-leaders while leveraging their collective reach of their social media presence
    • Ultimately, build trust with their communities and customers that translates to positive business results

    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

    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!

    Download this guidebook to learn how marketers are using social media to:

    • Drive business with the lowest digital spend compared to traditional media
    • Position employees as thought-leaders while leveraging their collective reach of their social media presence
    • Ultimately, build trust with their communities and customers that translates to positive business results

    ABA Study: The Current State of Social Media

    See what nearly 430 bank marketers had to say when asked questions such as:

  • Is it important to equip your sales personnel with social media accounts?
  • Does your bank measure the impact of your social media use?
  • 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.

    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.

    Download Here
    GUIDES

    4 ways to reach a larger social media audience

    Gone are the days of sharing helpful, compliant content organically from your bank’s social media profile and seeing significant reach and engagement.

    Social media platforms today frequently update their algorithms to make branded content less visible. In January, for example, Facebook announced algorithmic changes to filter every post through integrity filters, a multifaceted scoring system and even a contextual pass.

    You might be wondering whether social media is even worth the try anymore in the broader scope of marketing efforts. The answer is a resounding yes. Your prospects and customers are still on social media, perhaps more than ever before. For example, 86 percent of Baby Boomers use social media daily. That’s only 3 percentage points less than Gen Z. With physical banking on a downward trend, banks have to meet people where they are if they want to continue making connections and building relationships.

    The following steps can help financial services provider skirt tricky algorithms to get in front of the right audiences:

    Don’t avoid organic altogether: Organic social media is still an important jumping-off point, and a key asset to help your brand cut through is your employees. Research from LinkedIn shows that employees have 10 times the following on LinkedIn compared to their employers and that employee posts on LinkedIn create twice the engagement. When employees share with and engage customers and prospects from individual accounts, they humanize the brand beyond brand profiles alone — in the eyes of audiences and algorithms.

    Social media algorithms favor people and person-to-person conversation. Because more engagement means greater algorithmic scoring, you can bet that the more people who engage with an employee post, the more social media users will see that post in their feeds.

    Pay to play: Of course, one of the biggest advantages of organic social media is that it’s free — but paid advertising doesn’t take a huge investment, either, and the returns can be well worth the initial spend and effort. Consider, for instance, pulling back your marketing budget from traditional out-of-home advertising tactics that have lost their impact as people stay home and reallocating the spend toward paid social efforts.

    Paid ads actually help you optimize your advertising budget more than organic alone because you can target them. You can build a targeting strategy based on your ideal persona’s demographics, activities, interests, etc. — which means you can make better-informed decisions about what content to share with whom. Audiences will appreciate the posts’ relevance, and bank associates will appreciate knowing that social media outreach efforts aren’t wasted on the wrong audience.

    Provide value with content: While great content isn’t the only thing you need for success today, it is still a crucial factor because it serves as a helpful resource for audiences. Think beyond promotion when creating and distributing ad content. Consider how to create real value.

    Content should both highlight your expertise and help educate readers. Guidebooks, blog posts and videos are among many valuable content tools. And you don’t have to limit a post to include only one of them. Instead, link to a landing page on your website from a social media ad. Viewers will go to the page that houses all the relevant, valuable content they want.

    What’s more, if you include form fields requesting visitor information in return for downloading some of that content, you’ll get valuable consumer data in your hands that can help you drive more conversions.

    Think strategically about retargeting:  To further optimize your approach for even greater ROI, consider retargeted advertising. This means serving social media advertisements to people you know already engage with your website, social media pages or content.

    Don’t just retarget campaigns to every person who has ever shown interest in your brand, however. This approach is likely too broad to create much impact, especially when customers today are all about personalization. Instead, divide your audience into segments and create specific campaigns for each.

    For example, people who visited your blog might be more receptive to more educational content, while those who visited your contact page might be closer to conversion and ready to hop into a conversation with your sales team. Even in retargeting, precision is the name of the game.

    The bottom line is: If your bank’s social media strategy is only organic, you won’t see enough ROI to justify your time and effort. But if you level up with employees, paid advertising and valuable content, you can optimize your efforts beyond what even the best organic strategy would allow to overcome algorithmic roadblocks and get in front of exactly the right people.

    This article was originally published on BAI.org.

    Download the Guide

    Thank you! Your submission has been received!
    Download Guide
    Oops! Something went wrong while submitting the form.
    ALL GUIDES:

    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

    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.

    Instant Download

    Find out how more than 400 financial institutions across asset classes, geographies, and more used social media in 2020 to effectively support their business objectives. We’ve also outlined key trends to inform your social media future.

    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!

    Download this guidebook to learn how marketers are using social media to:

    • Drive business with the lowest digital spend compared to traditional media
    • Position employees as thought-leaders while leveraging their collective reach of their social media presence
    • Ultimately, build trust with their communities and customers that translates to positive business results

    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.

    Download this guidebook to learn how marketers are using social media to:

    • Drive business with the lowest digital spend compared to traditional media
    • Position employees as thought-leaders while leveraging their collective reach of their social media presence
    • Ultimately, build trust with their communities and customers that translates to positive business results

    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

    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!

    Download this guidebook to learn how marketers are using social media to:

    • Drive business with the lowest digital spend compared to traditional media
    • Position employees as thought-leaders while leveraging their collective reach of their social media presence
    • Ultimately, build trust with their communities and customers that translates to positive business results

    ABA Study: The Current State of Social Media

    See what nearly 430 bank marketers had to say when asked questions such as:

  • Is it important to equip your sales personnel with social media accounts?
  • Does your bank measure the impact of your social media use?
  • 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.

    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.

    Download Here

    RESOURCES

    NEWS
    July 1, 2021

    4 ways to reach a larger social media audience

    By
    Doug Wilber
    CEO, Denim Social

    Gone are the days of sharing helpful, compliant content organically from your bank’s social media profile and seeing significant reach and engagement.

    Social media platforms today frequently update their algorithms to make branded content less visible. In January, for example, Facebook announced algorithmic changes to filter every post through integrity filters, a multifaceted scoring system and even a contextual pass.

    You might be wondering whether social media is even worth the try anymore in the broader scope of marketing efforts. The answer is a resounding yes. Your prospects and customers are still on social media, perhaps more than ever before. For example, 86 percent of Baby Boomers use social media daily. That’s only 3 percentage points less than Gen Z. With physical banking on a downward trend, banks have to meet people where they are if they want to continue making connections and building relationships.

    The following steps can help financial services provider skirt tricky algorithms to get in front of the right audiences:

    Don’t avoid organic altogether: Organic social media is still an important jumping-off point, and a key asset to help your brand cut through is your employees. Research from LinkedIn shows that employees have 10 times the following on LinkedIn compared to their employers and that employee posts on LinkedIn create twice the engagement. When employees share with and engage customers and prospects from individual accounts, they humanize the brand beyond brand profiles alone — in the eyes of audiences and algorithms.

    Social media algorithms favor people and person-to-person conversation. Because more engagement means greater algorithmic scoring, you can bet that the more people who engage with an employee post, the more social media users will see that post in their feeds.

    Pay to play: Of course, one of the biggest advantages of organic social media is that it’s free — but paid advertising doesn’t take a huge investment, either, and the returns can be well worth the initial spend and effort. Consider, for instance, pulling back your marketing budget from traditional out-of-home advertising tactics that have lost their impact as people stay home and reallocating the spend toward paid social efforts.

    Paid ads actually help you optimize your advertising budget more than organic alone because you can target them. You can build a targeting strategy based on your ideal persona’s demographics, activities, interests, etc. — which means you can make better-informed decisions about what content to share with whom. Audiences will appreciate the posts’ relevance, and bank associates will appreciate knowing that social media outreach efforts aren’t wasted on the wrong audience.

    Provide value with content: While great content isn’t the only thing you need for success today, it is still a crucial factor because it serves as a helpful resource for audiences. Think beyond promotion when creating and distributing ad content. Consider how to create real value.

    Content should both highlight your expertise and help educate readers. Guidebooks, blog posts and videos are among many valuable content tools. And you don’t have to limit a post to include only one of them. Instead, link to a landing page on your website from a social media ad. Viewers will go to the page that houses all the relevant, valuable content they want.

    What’s more, if you include form fields requesting visitor information in return for downloading some of that content, you’ll get valuable consumer data in your hands that can help you drive more conversions.

    Think strategically about retargeting:  To further optimize your approach for even greater ROI, consider retargeted advertising. This means serving social media advertisements to people you know already engage with your website, social media pages or content.

    Don’t just retarget campaigns to every person who has ever shown interest in your brand, however. This approach is likely too broad to create much impact, especially when customers today are all about personalization. Instead, divide your audience into segments and create specific campaigns for each.

    For example, people who visited your blog might be more receptive to more educational content, while those who visited your contact page might be closer to conversion and ready to hop into a conversation with your sales team. Even in retargeting, precision is the name of the game.

    The bottom line is: If your bank’s social media strategy is only organic, you won’t see enough ROI to justify your time and effort. But if you level up with employees, paid advertising and valuable content, you can optimize your efforts beyond what even the best organic strategy would allow to overcome algorithmic roadblocks and get in front of exactly the right people.

    This article was originally published on BAI.org.

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    OTHER NEWS:

    For financial services to successfully connect with their customers on social media, authenticity is essential. It is more important than ever for customers to feel genuinely connected to brands, and brands should stay true to their values and communicate in a way that is welcoming and personal. Customers support businesses that resonate on social media, and authenticity is key to strengthening that brand-customer relationship. Leading with a personalized approach on social media is the perfect opportunity to be a source of trust and reliability for financial customers. How can banks, mortgage offices, wealth management firms, and insurance agencies incorporate authenticity into their strategy? Start with these approaches: 

    1. Rely on user-generated content. User generated content is 12x more trusted than product descriptions, and brands see a 25% increase in conversion with organic images versus overly-curated ones. Through social selling, financial institutions can look to their own employees and customers to help produce authentic content to support the brand. Consider how you can activate your employees to engage in social selling, and leverage customer relationships to provide testimonials, user experiences, and more. 
    1. Incorporate video content into your mix. To meet customers where they are, it’s essential to use video as a tool in your social media strategy. With younger generations spending up to 4 hours per day on social networks, video is only going to grow in popularity. With video, customers can see for themselves what a business does every day, giving them a visualization to connect with. To make it more authentic, don’t over-edit and use storytelling to define the brand. Keep it short, though; attention spans on social media are shorter, and marketers only have a couple seconds to capture audiences.
    1. Keep audience experience top of mind. Brand loyalty among consumers continues to decrease given the surplus of choices that digital media and social networks provide. Customers are loyal to brands that they like and that they feel are authentic and care about them. Sixty-one percent of consumers switched business from one brand or provider to another in the past year, demonstrating a need to listen to customers on social networks. Businesses that can listen to customers and translate that into an authentic message or piece of content will see more success than those that push content out for the sake of it.
    1. Always offer value with content. When creating a healthy and balanced marketing mix for social media networks, don’t forget to be mindful of how to engage viewers. This is a great way for a financial brand to be authentic to what it does and how it helps customers. Social media offers endless opportunities to provide brand information, educate through thought leadership, and give insight into company values and missions. Customers want to feel that they are along for the ride with a brand, being welcomed rather than pursued. While content can be fun and entertaining, also remember to add value through content that is practical, useful, and enticing. 

    Customers want real and authentic content on social media, and this presents opportunities for financial services to connect. The best practice is to keep content professional and on brand, but feel free to have fun and show that your organization is keeping up with the times as the industry continues to change and grow. Social media management platforms like Denim Social can help financial institutions to create and publish organically, and gives businesses the ability to manage posts at the brand and user level. The ability to show up and resonate with audiences on social media will be a winning strategy every time. Book a demo to see how publishing can work for you, and check out our existing social media resources for inspiration.  

    The ability to collect, interpret, and act on current customer data to cross-sell targeted products and services is a critical driver of revenue for banks, especially for mortgage lenders. Borrowers purchase an average of 11 mortgages in their lifetime, yet lenders retain fewer than 20 percent of past customers on average. That’s a lot of missed opportunity.

    One survey of nearly 300 financial institutions found that 64 percent of respondents are not using data to cross-sell to existing customers. It makes sense: In today’s fast-paced landscape, many financial services marketers have enough on their hands.

    Digital marketing changes at a breakneck pace, and it can be difficult to keep up with constant developments, let alone all the data. Many marketers do not know how to access or analyze customer data to capitalize on cross-selling opportunities. Further complicating the situation, significant structural barriers, such as siloed teams, can limit communication between data analysts and marketers.

    Many marketers pour the time and resources they do have into new customer acquisition, but cross-selling within the ranks of existing customers is a much more lucrative strategy. Acquiring new customers is significantly more expensive than retaining existing ones. An increase in customer retention rates by a mere 5 percent can boost profits by 25 to 95 percent.

    Social media marketing strategy for cross-selling in banking

    Fortunately, collecting the right customer data to fuel cross-selling efforts does not have to be a daunting task. A strong social media marketing strategy is an excellent means of collecting and acting on valuable data, and with the right approach, can be easy to pull off at scale. Consider the following key principles to effectively gather and integrate data from social media and up your cross-selling game:

    1. Understand your audience and what’s important to them. Social media is an excellent listening tool. By tracking likes, comments, shares and click-throughs, you can gain valuable insights about what content is resonating with existing customers and where your cross-selling opportunities lie. Remember that tracking existing customer engagement is key; while the probability of selling to a new lead is just 5 to 20 percent, the probability of cross-selling to a customer is 60 to 70 percent.

    Consider, for example, you’ve shared a post with tips for first-time homebuyers. the post gets a lot of engagement from your current followers, many of which have accounts with you. This could indicate that those customers are interested in securing their first mortgage.

    2. Target your messaging strategically. Social media is also a strong targeting tool. Once you’ve gathered engagement data, create custom lists within your customer roster, and retarget those customers with paid social media ads for relevant cross-selling opportunities. Retargeting is a great way to add power to your existing organic social media strategy. Building onto the example above, this could look like targeting ads for first-time mortgage seekers to the existing customers who engaged with your first-time homebuying post.

    When targeting paid ads, remember that timing can go a long way toward effectiveness and efficiency. You want to personalize ads to land the right messages at the right time. For example, a year after someone closes a mortgage with your institution, you know that they already own a home, trust your institution, and may be looking to do some home renovations. You can capitalize on the cross-selling opportunity by serving them an ad about home equity loans for improvements right when they’re likely considering diving into a new project.

    3. Use content to keep customers engaged. You can also use engagement data to see which customers have not engaged with your team lately. Use paid social as an opportunity to remind these customers why they chose you in the first place and show them what you still have to offer with valuable digital journeys. Re-engagement initiatives shouldn’t create digital dead ends—they should lead your customers to engage further with your brand.

    Link to personalized landing pages from both paid and organic posts to guide customers to valuable content and gate the content behind contact submission forms to collect more valuable data from customers. For example, your homebuying tips post will pique the interest of customers who are looking to secure their first mortgage. Include a link in the post to a landing page on your website that houses a guidebook on first-time mortgage seekers. Customers can put their information into the contact submission form in exchange for the guide, and the form can alert your team to make a follow-up call. The customer gets valuable information, and your team gets a cross-selling opportunity right in their hands.

    Combined, these principles aim to boost revenue and build stronger relationships. When you use data to understand your customers, deliver content when it matters most and personalize the digital journey, you can keep customers engaged and offer them more and more value through targeted cross-selling opportunities.

    This article was originally published in ABA Bank Marketing.

    Traditional bank leaders know that fintechs are quickly encroaching on target audiences and customers. They also know any chance of keeping up with digital competitors will depend on making fast and substantial progress toward digital transformation. Consumer demands for easy, accessible and convenient digital services will only increase.

    While some fintechs certainly represent a threat for incumbent banks today, fintechs will also be part of the solution for getting and staying ahead. Many fintechs exist to help banks succeed in an evolving landscape. For bank leaders looking to get their institution to the next phase of digital transformation, building more valuable bank-fintech partnerships should be a priority.

    Incumbent banks must find productive ways to collaborate with fintechs in partnerships to drive excellent digital customer experiences in financial services. The first step is looking inward to develop a clear understanding of your goals and provide the infrastructure fintechs will need to bring value.

    Whether you’re in a less-than-ideal fintech partnership now or you’re looking for the next step toward a digital future, start with these questions to set your institution up for bank-fintech partnership success:

    Do you have a capable liaison? Designate a digital transformation leader within your organization. This person should be an executive leader with excellent communication skills, a solid understanding of the organizations’ needs and goals, a forward-thinking approach and a passion for transformation.

    This leader will serve as a co-development resource as your organization establishes its relationships with fintech partners. They should relay information about the bank’s expectations, requirements and goals to fintechs and learn the overall functionality of solutions to share in training with internal personnel.

    What are you trying to fix? To effectively communicate your needs, your transformation leader will need a clear vision of each of the organization’s goals for fintech collaboration. One fintech won’t be able to achieve all your transformation goals, so consider multiple partnerships aimed at solving specific problems.

    Review your current state and identify any obstacles in the way of creating better digital customer experiences before choosing partners. From there, seek vendors specifically designed to fill your gaps. As you evaluate your options, be transparent about your needs. Without a clear goals, fintech partners won’t be able to deliver clear results.

    Will the solution increase value for customers? In a study examining how the pandemic altered banking consumer behavior, Accenture researchers suggest that nearly half of the banking public would stay loyal to a brand that offers a stellar customer experience. Considering that a 2019 FIS report found more than a third of consumers want to replace plastic banking cards with digital apps, an attractive banking experience is a digital one.

    While you can count on customer expectations for convenient digital services to stay, the specifics of their needs will change over time. Improving digital experiences in financial services should never be a stagnant goal. Monitor how customers react to your digital solutions and share the data with your fintech partners. From there, refine the customer experience together to improve engagement, increase loyalty and drive growth.

    Are your employees on board? For any fintech partnership to succeed, a bank will need its employees on board, especially those in customer-facing roles. These employees will be the ones educating customers about new tools and sharing the value of digital experience-enabling investments, so they need to believe in the power of digital transformation.

    But be wary that new technology might set off alarm bells throughout your organization as many workers regard digitization as a death knell for job security. Combat such misconceptions from the beginning of the planning process by educating employees on how digital solutions will help create better customer experiences. Collaborate with fintech partners to develop workshops that clearly demonstrate how technology will support, not eliminate, jobs.

    The future of financial services is digital. As consumers continue demanding better digital experiences, can your organization meet them with virtual access and convenience to leave a lasting impression? Bank-fintech partnerships based on clarity, transparency and value can help ensure the answer is always yes.

    This article was originally published on BAI Banking Strategies.

    The ice is melting and that can only mean one thing for those in the real estate business – spring buying season has arrived! Spring has long been a time for high inventory, but economic conditions make 2022 unique and perhaps more competitive than ever. And it’s not just buyers competing for homes, mortgage lenders need to work hard to stay competitive in a marketplace where everyone is feeling the heat.

    As we look to this year’s spring buying season, we see a two key factors impacting the marketplace:

    Supply is low and prices are up

    Prices are wild out there. Existing housing inventory remains historically low and supply chain challenges continue to put the squeeze on new home construction. With low supply, comes high demand and even higher prices. In fact, Zillow projects year-over-year rate of home price growth to peak at 21.6% in May.

    Rates are rising

    Despite some news-driven, short-term drops, mortgage rates are trending upward. After two years of historically low rates, with the Fed signaling, most predict rates will climb to around 4% this year. While still low, with rates rising, we could see buyers moving to lock-in at a lower rate.

    In an environment where MLOs can’t offer bargain-basement rates any longer, how do they stand out from the lending crowd? It’s about relationships. And the best way for a mortgage loan officer to stay in touch is social media.

    How important is staying top of mind with prospects? Consider this: 77% of borrowers move forward with the first lender they speak to when they’re looking for a loan. Showing up a prospect or existing clients’ social media feed can not only build trust, it can help MLOs close more deals.

    If you’re looking to make the most of social media at your mortgage institution, check out our guidebook, A Guide to Helping Mortgage Loan Officers Achieve Success with Social Media Marketing.

    Temps are soon to be on the rise, and so are interest rates. Combined with a hopeful end to the pandemic, the spring 2022 real estate market is hotter than ever. Mortgage loan officers are reaping the rewards of the fast-moving market, but they’re also seeing fierce competition. 

    So how does a loan officer stand out and catch the attention of homebuyers? Social media is the answer. Social media has already become an essential part of the mortgage lending business and consumers expect technology to be part of the homebuying process too. 

    Now is the time for financial institutions to unlock the power of loan officers on social media. Here’s where to start: 

    1. ACTIVATE LOAN OFFICERS ON SOCIAL MEDIA. Social is all about human connections and audiences pay more attention to individual people on social media than to brands. That’s why a social selling approach, in which individual loan officers share branded messages on their own social media profiles, is essential. Marketers might bristle at the idea of loan officers posting, but the right tools can keep individual postings on strategy, on brand and in compliance.
    1. DRIVE INTEREST WITH PAID SOCIAL MEDIA. We all remember the early days of social media when good organic content was all it took to breakthrough, but the platforms and algorithms have changed -- and your strategy should too. Luckily social media advertising is low budget and high return. Whether it’s proximity-based ads or amplifying posts from your loan officers, paid advertising can ensure your content is served to the right people at the right time.
    1. USE CONTENT TO EDUCATE AND ENGAGE. Your institution’s content is an opportunity for your loan officers to establish trust through social media. Arm them with articles, guidebooks, blog posts, and more to help educate audiences on the unique opportunities in today’s market and how they can save a lot of money.
    1. DRIVE CONVERSIONS WITH A POST-CLICK EXPERIENCE. Don’t create a digital dead end on social media. Instead, build landing pages on your website to correspond with each of your social campaigns and create forms to capture followers’ contact information in exchange for a download. This arms your loan officers with interested leads and the details they need to take the next step.
    2. MEASURE AND ANALYZE PERFORMANCE. Pay attention to how your content is performing. Make note of what grabs attention and engagement from your audience, and don't be afraid to change your content strategy based on what you observe. Give loan officers feedback on their network activity.

    With these strategies social media can help your loan officers stand out and stay competitive. Overwhelmed? Tools from Denim Social can help mortgage marketers maximize efficiency and stay compliant.



    Digital banking is here to stay. In one 2021 survey, 84 percent of banking customers polled said they plan to maintain the same level of digital banking services even after the pandemic subsides. This is both a challenge and an opportunity for traditional banks.

    Though many bank leaders have likely eagerly awaited a strong return to the in-person branch model, the time has come to accept and adapt to the digital future of banking. 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 exceptional digital customer experience for the long haul

    A recent study of the pandemic and ensuing digital acceleration in banking revealed two primary challenges for banks in delivering high-quality digital experiences: 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 when they could no longer meet with customers face-to-face. As in-person opportunities return, however, your team shouldn’t lose digital momentum. In fact, the primary goal behind digital transformation for 79 percent of respondents in one 2019 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, even before the pandemic, 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 presence, 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 the pandemic or brick-and-mortar banks, 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.

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    July 1, 2021

    4 ways to reach a larger social media audience

    By
    Doug Wilber
    CEO, Denim Social

    Gone are the days of sharing helpful, compliant content organically from your bank’s social media profile and seeing significant reach and engagement.

    Social media platforms today frequently update their algorithms to make branded content less visible. In January, for example, Facebook announced algorithmic changes to filter every post through integrity filters, a multifaceted scoring system and even a contextual pass.

    You might be wondering whether social media is even worth the try anymore in the broader scope of marketing efforts. The answer is a resounding yes. Your prospects and customers are still on social media, perhaps more than ever before. For example, 86 percent of Baby Boomers use social media daily. That’s only 3 percentage points less than Gen Z. With physical banking on a downward trend, banks have to meet people where they are if they want to continue making connections and building relationships.

    The following steps can help financial services provider skirt tricky algorithms to get in front of the right audiences:

    Don’t avoid organic altogether: Organic social media is still an important jumping-off point, and a key asset to help your brand cut through is your employees. Research from LinkedIn shows that employees have 10 times the following on LinkedIn compared to their employers and that employee posts on LinkedIn create twice the engagement. When employees share with and engage customers and prospects from individual accounts, they humanize the brand beyond brand profiles alone — in the eyes of audiences and algorithms.

    Social media algorithms favor people and person-to-person conversation. Because more engagement means greater algorithmic scoring, you can bet that the more people who engage with an employee post, the more social media users will see that post in their feeds.

    Pay to play: Of course, one of the biggest advantages of organic social media is that it’s free — but paid advertising doesn’t take a huge investment, either, and the returns can be well worth the initial spend and effort. Consider, for instance, pulling back your marketing budget from traditional out-of-home advertising tactics that have lost their impact as people stay home and reallocating the spend toward paid social efforts.

    Paid ads actually help you optimize your advertising budget more than organic alone because you can target them. You can build a targeting strategy based on your ideal persona’s demographics, activities, interests, etc. — which means you can make better-informed decisions about what content to share with whom. Audiences will appreciate the posts’ relevance, and bank associates will appreciate knowing that social media outreach efforts aren’t wasted on the wrong audience.

    Provide value with content: While great content isn’t the only thing you need for success today, it is still a crucial factor because it serves as a helpful resource for audiences. Think beyond promotion when creating and distributing ad content. Consider how to create real value.

    Content should both highlight your expertise and help educate readers. Guidebooks, blog posts and videos are among many valuable content tools. And you don’t have to limit a post to include only one of them. Instead, link to a landing page on your website from a social media ad. Viewers will go to the page that houses all the relevant, valuable content they want.

    What’s more, if you include form fields requesting visitor information in return for downloading some of that content, you’ll get valuable consumer data in your hands that can help you drive more conversions.

    Think strategically about retargeting:  To further optimize your approach for even greater ROI, consider retargeted advertising. This means serving social media advertisements to people you know already engage with your website, social media pages or content.

    Don’t just retarget campaigns to every person who has ever shown interest in your brand, however. This approach is likely too broad to create much impact, especially when customers today are all about personalization. Instead, divide your audience into segments and create specific campaigns for each.

    For example, people who visited your blog might be more receptive to more educational content, while those who visited your contact page might be closer to conversion and ready to hop into a conversation with your sales team. Even in retargeting, precision is the name of the game.

    The bottom line is: If your bank’s social media strategy is only organic, you won’t see enough ROI to justify your time and effort. But if you level up with employees, paid advertising and valuable content, you can optimize your efforts beyond what even the best organic strategy would allow to overcome algorithmic roadblocks and get in front of exactly the right people.

    This article was originally published on BAI.org.

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    SIMILAR POSTS:

    Mortgage lenders and financial institutions understand the power of human-first connections and social media can help loan officers build relationships. But social media success is about so much more than a like. Smart mortgage marketers are using social media to start customer journeys that flow down the full marketing funnel.

    In our latest webinar, leaders from Denim Social and Total Expert, discuss how the right tech tools can help your team easily and efficiently activate a social media strategy that actually closes deals. When every competitive edge matters, this webinar can help you discover how to make the most of your social marketing efforts.

    Check out the video below:

    Denim Social announced that its platform will now offer integrated customer relationship management (CRM) capabilities through a new partnership with leading CRM and customer engagement platform, Total Expert. Denim Social users are now able to automatically capture leads generated from Denim Social Pages in the Total Expert platform.

    Together with Denim Social, Total Expert users can deepen customer relationships and create customers for life by capturing, tracking, and automating relationships at every step – from social posts to recording interactions in the industry-leading CRM.

    Connect with your Denim Social and Total Expert Customer Success representatives to activate the integration.

    Marketing professionals understand the necessity of numbers. Click-to-open rates, qualified leads, and new customer acquisition are just a few metrics marketers are keen to monitor when launching a new marketing initiative. But measuring the success of any campaign always goes back to one thing: objectives. Your goals should give you a clearer understanding of what you are trying to achieve with a campaign — organic search, paid advertising, or otherwise. And how efficiently you hit your goals directly impacts the scalability of your social media efforts.

    Depending on your goals, you’ll be looking at a select few metrics. The most common in marketing for financial institutions is often click-through rates. They almost always top the list because they represent the percentage of consumers who’ve clicked on an ad, opting into a next step. Engagement can also be of interest, as it tracks likes, shares, and comments on a post.

    But keeping track of a few metrics doesn’t equate to a sound marketing strategy. In the digital age, financial institutions need to understand how to best use tactics specific to social media marketing. It’s not enough to see what’s working; those data insights must inform new iterations of content to increase reach and nurture leads. This is what creates a successful, scalable social media advertising strategy.

    The question then is, which metrics make the most sense to follow for a social media advertising campaign for financial institutions? And how can you best collect data to scale marketing efforts and drive engagement between your financial institution and its customers? Below, we’ll cover how to start choosing the right metrics for your goals and scaling your marketing efforts based on the information available to you.

    Choosing the Right Metrics for Your Goals

    Your metrics should be your North Star key performance indicators of your goals. Always select these based on what your financial institution wants to achieve. Consider brand awareness: Reach will be a metric to track, as will likes and followers. If you’re running paid ads on social media, you want to capture the number of people who’ve been exposed to your messaging. You also want to track the number of people who’ve engaged with that ad and are looking for updates from your social media page. Make sure to benchmark these metrics regularly, and always consult them prior to running a new campaign.

    If customer engagement is the goal for a social media ad campaign, you’ll also be monitoring likes in addition to shares, comments, and messages. Because social media is about being social, these metrics can tell you what resonates with a target audience and can help shape conversations with potential customers going forward.

    Should conversion be an overarching goal, your attention would turn to clicks. Clicks show intent on the customer’s part to act. Depending on the content associated with those clicks, you can also understand what products or services are of interest to specific consumers. As with likes, shares, and comments, this information can inform your conversations with these prospects because it tells you what content they might need to receive in order to move further down the sales funnel.

    How to Scale Your Marketing With the Right Data

    Once you’ve settled on your goals and associated metrics, the task at hand becomes scaling your marketing efforts based on the information available to you. Though tactics will vary from one financial institution to the next, a few strategies almost always prove beneficial:

    1. Use social listening to optimize in real time.

    With digital interactions growing in importance, financial institutions must take greater care in the messaging and content of each exchange. It’s here where social media can be of real value, and integrating insights gathered from social chatter can help improve the performance of your next paid social media advertising campaign.

    Let’s say your institution starts using social listening tools to understand what’s on the mind of prospects. That lets your team get a jump on the competition by posting social media content sooner when a trend emerges — even if it has nothing to do with paid online advertising. Social chatter also can be beneficial for budget planning and allocating spend on specific audiences and marketing activities with the greatest likelihood of engagement. If you were to run a social media ad campaign around 529 planning, for example, it wouldn’t resonate with audiences not intent on going to college.

    Capturing and using social media data allows you to target your campaign in those areas of greater interest to consumers. That same information can also help decrease spend in areas where the message isn’t connecting.

    2. Use social media data to inform your marketing content.

    For many institutions, social media is a marketing dead end because they haven’t considered their audiences’ post-click experience. Your social media should connect to other customer acquisition tools such as landing pages, contact forms, guides, or a recent blog post so these resources can serve as next steps in the customer journey.

    Knowing which content is interesting to your audience requires mining your social media data. Specifically, click-through data can tell you more about where to focus future paid advertising campaigns and content development efforts. If customers are spending their time with articles on loan options, down payments, or financial assessments, don’t spend money promoting an e-book on “living well in retirement” to them. Using data will increase the likelihood that your consumers continue through the consumer funnel.

    3. Advocate for your paid ad budget with success data.

    Justifying a marketing budget, let alone an increase in spend, can leave many marketers in a quandary. Even when you come in with a set of paid social media advertising goals tied to the overarching goals of the institution, buy-in isn’t a guarantee. Without the right metrics, changes to the budget will be difficult to implement.

    According to Harvard Business Review, 41% of marketing budgets are based on the previous year, while only 10% are revisited quarterly. Employing the most current information available to shape marketing conversations will allow others in your company to see the value of your proposed ad spend plan, so it’s important to use your social media data judiciously.

    4. Invest in marketing tools.

    Marketing tools are now becoming a dime a dozen. If you hope to access and use the data available from social media, selection is critical. Choose one designed for your industry, making sure that it can measure organic activities and paid online advertising initiatives.

    Denim Social offers a solution. Our platform, services, and analytics features were built specifically with regulated institutions in mind. Real-time analytics are compiled from user data across several social media platforms (Facebook, Twitter, etc.), offering not only actionable insights on target audiences but a greater understanding of the effectiveness of current social media ad campaigns.

    Make messaging or content adjustments immediately if need be — or simply use the analytics to inform the direction of future campaigns. Should the leadership team call for an update, presentation-ready reports are just a few clicks away.

    Social media and paid social media advertising campaigns provide an opportunity to get to know potential customers but will be ineffective without the proper strategy. It’s all about capturing and tracking the right data to inform the direction of each interaction along the path to purchase. Your institution will be better off, and so will your customers.

    It takes a lot of data to craft a top-tier social media strategy. That’s why Denim Social is here to help. Reach out for your personalized platform demo today.

    Social marketing can be customized to fit virtually every advertiser’s need, thanks to its wide array of targeting options. However, it can also be overwhelming for financial institutions to understand how to harness the full benefits of paid social media advertising. With the tools now available, how do financial institution marketers find the right target audiences and expand reach effectively?

    By tapping into paid social advertising, financial institutions can put their ads in front of the right people at the right time. Whether it’s reaching new customers or addressing the needs of existing customers, paid ads help financial institutions find customers who not only fit the demographics they are looking to target, but also who are actively interested in the products or services they’re offering.

    While different social media networks may have different rules or regulations for financial institutions, social media advertising drives results that make risk well worth it. And with Denim Social’s platform, you can be confident that no post will go live without being fully compliant.

    How to Create Effective Campaigns to Reach Your Target Audience

    Once you’ve chosen a social media network, you need to understand how to best utilize it. Social media’s power isn’t just in finding the people most receptive to your message. It’s also in helping you deliver the most effective advertising possible. As one of the top players in paid social advertising, Facebook offers a few different tools to help you do this, and other social media channels have similar features.

    Facebook’s Audience Insights feature provides you with aggregate data on current followers and other Facebook users. Here, you can see a breakdown of useful information, such as relationship statuses, job titles, hobbies, and interests. This data can be channeled into creating content that’s more likely to capture your audience’s attention and keep them engaged.

    Also useful are its Page and Video Insights, which show how your audience responds to your content and who your most active followers are. By looking at metrics like how long people watch your videos, who clicked on certain links, or where your most engaged users are from, you can continuously improve the effectiveness of your paid social advertising and your social media content in general.

    3 Steps for Finding and Reaching Your Most Profitable Audience

    Whatever platforms and tools you use, remember that experimentation is one key to reaching audiences effectively. Another is using those tools to create target audience profiles with data-based strategies. Begin with these steps:

    1. Start with your Core Audience.

    Your Core Audience is the foundation upon which you’ll build your social media marketing strategy. It should be made up of people who align with your broader business and marketing objectives — as well as those who already follow you on social media.

    On Facebook, there are five simple but powerful criteria you can use to flesh out this audience: location, demographics, interests, behavior, and connections. For example, in the mortgage industry, you would limit your Core Audience to those who live in the geographic area you serve. You could also target those whose behavior indicates a recent interest in home financing.

    2. Use Custom Audiences to reach out to people engaging with your content.

    Now that you have a solid foundation, you need to build on that by adding those who have shown interest in your content. That’s where Custom Audiences come into play. With this feature, you can connect with people who have not only liked your page, but also have visited your website or downloaded your app. Custom Audiences also make it possible for institutions to include existing lists of leads and targets, ensuring that your targeted ads reach the maximum number of interested parties.

    A mortgage loan officer, for instance, could take advantage of this feature by targeting ads to people who’ve visited their financial institution’s website, rather than only relying on the same basic demographics that other loan officers in the area are probably using.

    3. Disrupt your competition with Lookalike Audiences.

    The first two steps of this social marketing process should give you a reliable, engaged pool of potential customers to whom you can advertise. However, if you stop there, your ability to grow that pool will be limited. To reap the full benefits of paid advertising, you need to take advantage of Facebook’s algorithms with Lookalike Audiences.

    This feature allows you to find people with similar interests, behaviors, and characteristics to your Custom and Core Audiences. By picking a percentage range of how much you want your new audience to match your current one, you can choose to either reach a wider, more general audience, or find people almost identical to your current target. It’s completely up to you.

    This can be a very effective tool, especially in financial services. The ability to launch a lookalike ad campaign for a particular location and demographic could help you connect with high-quality targets who may have never connected with you if they hadn’t seen your ad. In many cases, these new leads are already seeing ads from similar institutions, which means you’re now getting a chance to bring your brand top of mind.

    Paid social media ads can be some of the most effective advertising out there, both in terms of the number of conversions and cost-effectiveness. For financial institutions who want to be strategic about their target audience and expand their reach, there’s no better place to start than with paid social media advertising. Ready to launch your own paid social advertising campaign? Request a demo to find out how Denim Social can help.

    For financial services to successfully connect with their customers on social media, authenticity is essential. It is more important than ever for customers to feel genuinely connected to brands, and brands should stay true to their values and communicate in a way that is welcoming and personal. Customers support businesses that resonate on social media, and authenticity is key to strengthening that brand-customer relationship. Leading with a personalized approach on social media is the perfect opportunity to be a source of trust and reliability for financial customers. How can banks, mortgage offices, wealth management firms, and insurance agencies incorporate authenticity into their strategy? Start with these approaches: 

    1. Rely on user-generated content. User generated content is 12x more trusted than product descriptions, and brands see a 25% increase in conversion with organic images versus overly-curated ones. Through social selling, financial institutions can look to their own employees and customers to help produce authentic content to support the brand. Consider how you can activate your employees to engage in social selling, and leverage customer relationships to provide testimonials, user experiences, and more. 
    1. Incorporate video content into your mix. To meet customers where they are, it’s essential to use video as a tool in your social media strategy. With younger generations spending up to 4 hours per day on social networks, video is only going to grow in popularity. With video, customers can see for themselves what a business does every day, giving them a visualization to connect with. To make it more authentic, don’t over-edit and use storytelling to define the brand. Keep it short, though; attention spans on social media are shorter, and marketers only have a couple seconds to capture audiences.
    1. Keep audience experience top of mind. Brand loyalty among consumers continues to decrease given the surplus of choices that digital media and social networks provide. Customers are loyal to brands that they like and that they feel are authentic and care about them. Sixty-one percent of consumers switched business from one brand or provider to another in the past year, demonstrating a need to listen to customers on social networks. Businesses that can listen to customers and translate that into an authentic message or piece of content will see more success than those that push content out for the sake of it.
    1. Always offer value with content. When creating a healthy and balanced marketing mix for social media networks, don’t forget to be mindful of how to engage viewers. This is a great way for a financial brand to be authentic to what it does and how it helps customers. Social media offers endless opportunities to provide brand information, educate through thought leadership, and give insight into company values and missions. Customers want to feel that they are along for the ride with a brand, being welcomed rather than pursued. While content can be fun and entertaining, also remember to add value through content that is practical, useful, and enticing. 

    Customers want real and authentic content on social media, and this presents opportunities for financial services to connect. The best practice is to keep content professional and on brand, but feel free to have fun and show that your organization is keeping up with the times as the industry continues to change and grow. Social media management platforms like Denim Social can help financial institutions to create and publish organically, and gives businesses the ability to manage posts at the brand and user level. The ability to show up and resonate with audiences on social media will be a winning strategy every time. Book a demo to see how publishing can work for you, and check out our existing social media resources for inspiration.  

    At Denim Social, Compliance is our foundation and something we’re thinking about all day every day (and okay, maybe some times the middle of the night). With the return of in-person conferences, we were beyond excited to go to the Super Bowl of compliance and regulation – the 2022 FINRA Annual Conference. A gathering of the industry’s compliance leaders and regulators, the conference was an opportunity to dig into the latest hot topics.

    I saw three big trends every financial marketer should be looking out for:

    Enforcement Is Up. Regulatory bodies are growing headcounts to clear tax backlogs and the expanding oversight teams too. In several presentations and discussions at the conference, we heard about the regulators’ desire to recapture violation revenue. A higher degree of oversight and more staffing resources means that financial institutions need to be prepared for enforcement. Time to expand the Panic Room. In practical terms, institutions should be investing in tech that will programmatically enforce compliance.

    Headcount Is Down. Like so many other industries right now, headcount is a challenge for wealth advisory firms. While they may be losing advisors to retirement or attrition, firms still need to bring in assets under management. An increased focus on competition for client and asset attraction, many firms may be reallocating resources away from planning and protection, creating risk.

    Diversity, Equity and Inclusion is a Must. Events of the past few years and an increasingly diverse client base, have shined a light on the industry’s need for greater diversity, equity and inclusion. While DEI was once a nice-to-have, it is now essential for the industry. FINRA will support efforts to recruit more diverse professionals to the industry and increase financial literacy among the populations financial institutions serve.

    After attending thought-provoking sessions and speaking with countless professionals at the conference, I see opportunities for financial institutions. Yes, there may be more risk and uncertainty in the atmosphere, but never before has there been such great access to technology to protect brands.

    Feeling concerned about you compliance protection? Learn how Denim Social can help.

    The ability to collect, interpret, and act on current customer data to cross-sell targeted products and services is a critical driver of revenue for banks, especially for mortgage lenders. Borrowers purchase an average of 11 mortgages in their lifetime, yet lenders retain fewer than 20 percent of past customers on average. That’s a lot of missed opportunity.

    One survey of nearly 300 financial institutions found that 64 percent of respondents are not using data to cross-sell to existing customers. It makes sense: In today’s fast-paced landscape, many financial services marketers have enough on their hands.

    Digital marketing changes at a breakneck pace, and it can be difficult to keep up with constant developments, let alone all the data. Many marketers do not know how to access or analyze customer data to capitalize on cross-selling opportunities. Further complicating the situation, significant structural barriers, such as siloed teams, can limit communication between data analysts and marketers.

    Many marketers pour the time and resources they do have into new customer acquisition, but cross-selling within the ranks of existing customers is a much more lucrative strategy. Acquiring new customers is significantly more expensive than retaining existing ones. An increase in customer retention rates by a mere 5 percent can boost profits by 25 to 95 percent.

    Social media marketing strategy for cross-selling in banking

    Fortunately, collecting the right customer data to fuel cross-selling efforts does not have to be a daunting task. A strong social media marketing strategy is an excellent means of collecting and acting on valuable data, and with the right approach, can be easy to pull off at scale. Consider the following key principles to effectively gather and integrate data from social media and up your cross-selling game:

    1. Understand your audience and what’s important to them. Social media is an excellent listening tool. By tracking likes, comments, shares and click-throughs, you can gain valuable insights about what content is resonating with existing customers and where your cross-selling opportunities lie. Remember that tracking existing customer engagement is key; while the probability of selling to a new lead is just 5 to 20 percent, the probability of cross-selling to a customer is 60 to 70 percent.

    Consider, for example, you’ve shared a post with tips for first-time homebuyers. the post gets a lot of engagement from your current followers, many of which have accounts with you. This could indicate that those customers are interested in securing their first mortgage.

    2. Target your messaging strategically. Social media is also a strong targeting tool. Once you’ve gathered engagement data, create custom lists within your customer roster, and retarget those customers with paid social media ads for relevant cross-selling opportunities. Retargeting is a great way to add power to your existing organic social media strategy. Building onto the example above, this could look like targeting ads for first-time mortgage seekers to the existing customers who engaged with your first-time homebuying post.

    When targeting paid ads, remember that timing can go a long way toward effectiveness and efficiency. You want to personalize ads to land the right messages at the right time. For example, a year after someone closes a mortgage with your institution, you know that they already own a home, trust your institution, and may be looking to do some home renovations. You can capitalize on the cross-selling opportunity by serving them an ad about home equity loans for improvements right when they’re likely considering diving into a new project.

    3. Use content to keep customers engaged. You can also use engagement data to see which customers have not engaged with your team lately. Use paid social as an opportunity to remind these customers why they chose you in the first place and show them what you still have to offer with valuable digital journeys. Re-engagement initiatives shouldn’t create digital dead ends—they should lead your customers to engage further with your brand.

    Link to personalized landing pages from both paid and organic posts to guide customers to valuable content and gate the content behind contact submission forms to collect more valuable data from customers. For example, your homebuying tips post will pique the interest of customers who are looking to secure their first mortgage. Include a link in the post to a landing page on your website that houses a guidebook on first-time mortgage seekers. Customers can put their information into the contact submission form in exchange for the guide, and the form can alert your team to make a follow-up call. The customer gets valuable information, and your team gets a cross-selling opportunity right in their hands.

    Combined, these principles aim to boost revenue and build stronger relationships. When you use data to understand your customers, deliver content when it matters most and personalize the digital journey, you can keep customers engaged and offer them more and more value through targeted cross-selling opportunities.

    This article was originally published in ABA Bank Marketing.

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