September 8, 2022

Maintaining A Strong Social Selling Strategy During Mergers and Acquisitions

Your financial institution, loan officers, bankers, agents, or advisors have spent a lot of time and effort building a robust social selling program, driving brand and associate presence, and establishing a good flow between marketing, compliance, and sales. Then comes the announcement that your organization will be going through a merger or an acquisition. Now what?

While it can at first seem like the hard work that was put into your social selling strategy was wasted, there are measures you can take to preserve the progress in social media marketing you’ve made and set your institution up for success both during and after a transition.

Digital transformation is one of the leading drivers of M&A activity and social selling can help your institution stay ahead. The industry shows no signs of slowing down, so banks, investment and wealth management firms, DBAs and others, will be faced with more uncertainty and opportunity for M&A activity in the future.

So, how to prepare and sustain a social selling program during transition? Start with these steps to create a foundation in your digital marketing strategy that will weather any change.  

  1. Be open and flexible as organizational shifts occur. Understanding what is changing and how it impacts various departments will make preserving or updating strategies more efficient. Don’t be afraid to ask questions and advocate for your social selling program as you navigate a new company environment.
  1. Document your social selling program. When you're in the thick of day-to-day marketing activity, it's easy to skip documenting the key tenets of the program you've designed. Take the opportunity to get down on paper the stakeholders involved, the strategy in use, the outcomes expected, etc. so it's easy to advocate for resources.
  2. Establish regular communication between compliance, marketing, and leadership. Get buy-in early and often from other departments. Sales should know why social selling is important to business, and legal and social media compliance should oversee that they are doing social selling safely. Progress and outcomes of the program should be made easily available, and setting regular meetings to keep everyone in the loop will make any transitions much easier and more adaptable.
  3. Be prepared to show records of all social media activity and history. Where there is a merger or acquisition, there is sure to be an audit. Keeping your strategy, your posts, and user information all in one place that can be easily accessed will give credibility to your social selling program and build trust with any new leadership. When users post through a platform, it is a quick fix to pull any needed information for compliance purposes.
  4. Get your budget in order. While budgets for marketing departments tend to be increasing, especially for social media, being faced with a merger might necessitate some budget rebalancing. Adopting a social selling strategy increases the value of your efforts, and multiplies what a brand can do alone, making it a budget-friendly approach.
  5. Track performance. Having a solid grasp of social media ROI and social selling analytics can inform how to present a budget to leadership and make the most of what is available. With insight from analytics, you can prove to the company that output on social media is resulting in input from new business. And remember, frontline employee engagement in a program is a powerful metric to emphasize!

Throughout the merger and acquisition process, keep an open mind and expect changes. Having management on the same page while promoting and driving the social selling program will be instrumental to ongoing success. In the face of potential transitions, feel confident that your financial institution social media marketing can withstand the test of time by preparing now.  The right social media management tools can give you the confidence to successfully transition your program, while staying compliant. Ready to learn more? Talk to your customer success manager or book a demo with us today.

RESOURCES

LEARN
September 8, 2022

Maintaining A Strong Social Selling Strategy During Mergers and Acquisitions

By
Connor Phillips

Your financial institution, loan officers, bankers, agents, or advisors have spent a lot of time and effort building a robust social selling program, driving brand and associate presence, and establishing a good flow between marketing, compliance, and sales. Then comes the announcement that your organization will be going through a merger or an acquisition. Now what?

While it can at first seem like the hard work that was put into your social selling strategy was wasted, there are measures you can take to preserve the progress in social media marketing you’ve made and set your institution up for success both during and after a transition.

Digital transformation is one of the leading drivers of M&A activity and social selling can help your institution stay ahead. The industry shows no signs of slowing down, so banks, investment and wealth management firms, DBAs and others, will be faced with more uncertainty and opportunity for M&A activity in the future.

So, how to prepare and sustain a social selling program during transition? Start with these steps to create a foundation in your digital marketing strategy that will weather any change.  

  1. Be open and flexible as organizational shifts occur. Understanding what is changing and how it impacts various departments will make preserving or updating strategies more efficient. Don’t be afraid to ask questions and advocate for your social selling program as you navigate a new company environment.
  1. Document your social selling program. When you're in the thick of day-to-day marketing activity, it's easy to skip documenting the key tenets of the program you've designed. Take the opportunity to get down on paper the stakeholders involved, the strategy in use, the outcomes expected, etc. so it's easy to advocate for resources.
  2. Establish regular communication between compliance, marketing, and leadership. Get buy-in early and often from other departments. Sales should know why social selling is important to business, and legal and social media compliance should oversee that they are doing social selling safely. Progress and outcomes of the program should be made easily available, and setting regular meetings to keep everyone in the loop will make any transitions much easier and more adaptable.
  3. Be prepared to show records of all social media activity and history. Where there is a merger or acquisition, there is sure to be an audit. Keeping your strategy, your posts, and user information all in one place that can be easily accessed will give credibility to your social selling program and build trust with any new leadership. When users post through a platform, it is a quick fix to pull any needed information for compliance purposes.
  4. Get your budget in order. While budgets for marketing departments tend to be increasing, especially for social media, being faced with a merger might necessitate some budget rebalancing. Adopting a social selling strategy increases the value of your efforts, and multiplies what a brand can do alone, making it a budget-friendly approach.
  5. Track performance. Having a solid grasp of social media ROI and social selling analytics can inform how to present a budget to leadership and make the most of what is available. With insight from analytics, you can prove to the company that output on social media is resulting in input from new business. And remember, frontline employee engagement in a program is a powerful metric to emphasize!

Throughout the merger and acquisition process, keep an open mind and expect changes. Having management on the same page while promoting and driving the social selling program will be instrumental to ongoing success. In the face of potential transitions, feel confident that your financial institution social media marketing can withstand the test of time by preparing now.  The right social media management tools can give you the confidence to successfully transition your program, while staying compliant. Ready to learn more? Talk to your customer success manager or book a demo with us today.

Subscribe to our newsletter and get the latest sent to your inbox.
Thank you for subscribing!
Oops! Something went wrong while submitting the form.
SIMILAR POSTS:

Forward-thinking marketers understand the power of social media at all stages of their marketing funnel. From awareness and consideration to loyalty and even advocacy, social and digital channels can and do inform purchase decisions. Financial institutions are catching on — more than 90% of the 50 largest banks are currently on Facebook, and 88% have active Twitter accounts — but being on social media doesn’t equate to a strong social media strategy. Today’s digital market requires an integrated strategy that meets target audiences throughout the buyer’s journey. This means investing in paid social campaigns alongside organic and driving deeper relationships with customers through social selling.

Sounds easy, right? While marketers may understand the strategies and costs associated with modern social success, senior decision makers may still need educating and persuading. That’s why it’s essential to be able to effectively communicate the benefits of integrated social media strategies. In addition to intangible benefits like building trust and humanizing your brand, both organic and paid social selling strategies offer metrics that enable marketers to prove value.

After all, people buy from people. So if you’re ready to advocate for an expanded social media strategy, start by asking yourself these questions. Not only will they help you decide on your strategic priorities, but they will also show you how to articulate the value of social media strategies to the people holding the budget strings. To prove the value of social media in financial services and get buy-in from senior leaders, marketers must ask themselves these questions:

Does Our Social Media Marketing Drive ROI?

Expanding a social media strategy often means increased spending — so you must be able to show decision makers the value of social. While financial marketers are already advocates — they know the power of paid social media efforts and have seen it in action — other leadership may not have that knowledge. It’s up to marketing teams to connect the dots on how their efforts are driving business results, and that means providing a strong argument based on metrics and concrete benefits.

Data tells a powerful story, so let it guide the conversation. And to further strengthen your case for expanded social media strategies, make sure to highlight these benefits:

• Targeting

While organic content is important, leaders must understand that it’s not enough to impact the bottom line without paid support. Paid social media gives more flexibility than organic content — you can target specific customer subsets, or even new audience bases, allowing for greater personalization and a higher ROI. It’s all about delivering relevant content to the right consumers at the right time.

• Feedback

Feedback may not always impact the bottom line, but social media itself does offer a direct line to consumers. With the lines of communication open, it becomes easier to listen and learn about their wants, needs, and interests. An open-ended post, for instance, can encourage comments, which provide qualitative feedback on any given topic. This will improve the trust in your institution; customers (and their followers!) will see the commitment to providing an ever-improving experience.

• Conversion

Social media is about more than likes: If you’re providing links on social media (and you should), you’re creating conversion opportunities. Direct consumers to a landing page — from there, you can collect lead information. All that’s left is a follow-up. If that landing page has a form, track completion rates. The icing on top? These interactions are all measurable. Prove value by comparing these metrics with traditional tactics. When did a leader ever see a recorded, data-backed conversion metric from a billboard?

• Efficiency

Measuring social media marketing ROI, like most analytics, requires technology — and the right technology, at that. Spreadsheets simply won’t cut it, and they’re not as accurate or efficient as the tools that fintech partners offer. That’s why the Denim Social platform was built with financial institutions in mind. Its analytics capabilities allow for a more efficient means of capturing results while also centralizing information. Data is readily available, which can simplify and improve the approval workflow. Improvements to the workflow process have been shown to free up 20% to 30% of employees’ time — so bring that statistic to decision makers to prove its necessity.

How Do You Use Social Media Analytics to Make Your Case?

Expanding marketing strategies means collecting more data, and that necessitates a robust social media management tool. Gathering data on any social media marketing campaign affords you the opportunity to measure its overall performance and gives you clear-cut evidence to support business measures related to those efforts.

Of course, data should be gathered based on specific criteria. Meaningful insights come from specific measurable goals related to your campaign and the goals of company decision makers. While the objectives of any social media strategy for financial services will vary from one institution to the next, any marketing effort can benefit from optimizing strategy through social media ROI metrics.

Use metrics to hone your messaging and audience. Every social media marketing post is a learning opportunity about what resonates with your audience. Analytics show what topics drive engagement, what calls to action inspire clicks, and so on. Then, fine-tune subsequent posts based on your findings. Mastering social is an iterative process. When speaking with upper management, highlight how this process delivers greater value over time by continuously evolving.

As you optimize your messaging, look to target audiences. Social media, and paid social in particular, allows you to target subsets of consumers. Vary your messaging and content, and you begin to understand what connects with whom. This allows you to maximize social media spend going forward — you’re not wasting time and effort putting messaging in front of an uninterested audience. When decision makers want to reach specific audiences, outline how putting money toward paid ad campaigns makes that happen.

Audience engagement with your posts isn’t the only important metric; they’re likely interacting with your competition, too. Denim Social’s social listening tools provide a simple — but comprehensive — snapshot of competitors. Use our built-in metrics comparisons to learn what’s working for others and where you’re ahead.

When you’re looking at your own metrics, be sure to pay attention to where the customer journey is going. Failure to guide customers to a landing page and other lead-generating tools will lead to dead ends, which isn’t the best use of these channels. Trackable links and analytics help marketers recognize the best avenues for using social media posts to capture leads that translate into sales. If you aren’t effectively working toward leads, it’ll be difficult to defend the necessity of your budget.

Finally, don’t measure your ROI too soon. If you’re going to connect the value of social to your broader business objectives, you need to sync your measurement time with your sales cycle or risk misunderstanding (and likely underestimating) the impact of social. Help leadership understand that ROI isn’t a one-and-done and it’s not instantaneous. That way, you’re guiding their expectations to the bigger picture of what your social media strategy is doing.

Troves of data are available from social media channels, and you’ll need the right technology to organize the information and arrive at a set of objectives that align with your larger business goals. The right measurement tool can build the confidence digital marketers need to foster social media marketing ROI success.

What’s the Cost of Getting Social Media Compliance Wrong?

Social media compliance for financial institutions can feel challenging, especially today. SEC Chairman Gary Gensler has brought increased scrutiny to social media since his appointment, and it’s understandable for institutions to want to pull back efforts to mitigate compliance risks. Make sure your executives understand that this method loses more than they gain.

Consider that customers are increasingly using digital methods to meet financial needs. Can anyone afford to lose out on that audience base? You won’t reach new customers, and you’re losing valuable social selling opportunities with the ones you have. Social selling influences half of revenue for 14 major industries — and financial services is one of them.

Rather than scaling back social media efforts (and in the process, your revenue), work to mitigate compliance risks. When senior management airs concerns over compliance, counter with technology to automate compliance monitoring. Denim Social was built for compliance, so you can focus less on worrying if you’re compliant and more on fostering leads.

With Denim Social, you can use numerous tools that can help in ensuring:

• Protection. Problematic posts never see the light of day, as our platform not only establishes an approval workflow but also flags posts containing questionable keywords or phrases even before the review process.

• Education. Our platform can serve as an ongoing compliance education tool. Team members receive almost immediate feedback and can test the equipped filters to understand what might cause regulatory trouble.

• Enablement. Denim Social allows for the creation content libraries and curated, pre-approved posts. Team members can pull from these resources without the need for approvals, adding speed and efficiency to the process.

• Record-keeping. The potential of an audit hangs over every financial institution. Our platform archives all social media posts and interactions. It even does the same with comments. If regulators come knocking, you’ll have a report in no time.

• Notifications. Should a team member try to send a post through the approval process with a prohibited keyword or phrase, those flags send a notification directly to the individual. Employees quickly learn what can and cannot be posted.

• Profile locks. Rules can be built within the platform that can prevent team members from posting problematic content, helping to quell worries about social media compliance. The goal is to provide the controls necessary to avoid issues.

• Editing. Admins can edit or delete team members’ posts, comments, or direct messages right from the platform — across any connected social channel. In fact, the process is automated when prohibited keywords or phrases hit the network.

Social media compliance for financial institutions shouldn’t be more complicated than any other compliance for your operation. It all comes down to your choice of technology, and Denim Social has the experience and tools you need to make it a breeze.

What Do We Need in a Fintech Partner?

The social media marketing needs of financial institutions are unique. You’re not necessarily selling a product or a service but a relationship with a qualified professional, which calls for authenticity and empathy to establish a sense of trust. The tactics used by “traditional” brands simply aren’t as impactful in the financial services space.

Beyond that, social media compliance is complex. Without industry knowledge, it can be difficult for a marketing agency to navigate the nuances set by FINRA. Your fintech partner should fully appreciate the regulatory constraints and respect the concerns of your financial institution while still understanding how to drive real value with your social media strategy.

However, according to Cornerstone’s “What’s Going On In Banking 2021” report, financial institutions aren’t having much success finding these qualified and attentive partners, noting that FI “boards will tire of not seeing results [from fintech partnerships]." Executives are relying on your expertise to identify fintech partners with a proven ability to collaborate and create solutions. And because boards may be wary of partners, you must be able to outline exactly how that partner will help you reach your goals. Help executives understand these benefits.

• Customized onboarding.

Denim Social customizes our onboarding process to meet your specific needs, so executives know they’re getting an experience tailor-made for the company. No questions are left unanswered — we walk alongside you to always offer an explanation. On top of that, our team will help you craft the communication necessary to get employees to use the platform. Emails, messaging, toolkits, and more are available to encourage adoption, so upper-level management knows they’re investing in a tool that will see widespread use.

• Team training.

Depending on your size and needs, we provide kickoff and regular training to help team members make the most of the platform so that decision makers can rest easy knowing our software isn’t being underutilized. We can also provide train-the-trainer sessions to move training internal, and our recently launched Academy can help marketers become certified on our platform.

• Strategy consultation.

Our customer success team can help you identify tactics to move the needle on your social media strategy. Just ask, and we’ll provide best practices and industry-relevant comparisons to inform your tactics and optimize your social selling implementation.

• Content libraries.

We work directly with your institution and UpContent to ensure you can create a customized content library that matches the specific needs of your business and your customers.

In order to optimize a social media strategy, FI leaders and marketers must be able to sustain compliance at scale and understand social media measurement and analytics to see ROI. When you understand your metrics, you can bring that knowledge to decision makers, too. They’ll see the value you bring to the brand and associates (and match that value when it’s time to make budgets). Trusted fintech partners with dedicated customer success teams can help.

Bottom line: Social media is hard, but marketers don’t have to do it alone. With Denim Social, they have dedicated team members they can call to help.

Get in touch with us today to schedule a demo!

Denim Social is pleased to announce a new platform integration with American Bankers Association, which provides support and representation to banks of all sizes.

For financial services marketers, social media content curation can be tough. It is time-consuming, and compliance considerations can further complicate the need to produce interesting and timely content to customers. However, it’s an important aspect of any bank digital marketing strategy, with such a wide array of social media benefits for banks.

With this development, banks that are ABA members and Denim Social customers will be able to easily access social media content through this Shared Library. Bank marketers will be able to select from a wide range of content that can be shared at the brand, branch, or employee level. All resources will be relevant and compliant social media posts, thanks to Denim Social’s approval workflows.

When it comes to sharing content on social, it’s important to keep posts engaging and shareable, to help increase brand awareness and boost social selling efforts. ABA will keep content updated regularly, with evergreen, time-specific, and campaign-specific content. Even better, the ABA Shared Content Libraries can be built as often as needed, and users can quickly manage shared content and remove anything that is no longer relevant.

Here’s how it works:

  • The publisher accesses the Denim Social platform
  • The ABA creates and manages content in the shared library
  • All ABA members and Denim Social users can access and share the available content to their connected networks

This partnership makes it easier than ever to accelerate your bank’s messaging, manage social content in real time, stay compliant, and remain relevant. Denim Social has helped financial institutions see a 78% increase in engagement, a 2,000% increase in brand-level impressions, and an 874% increase in reach across networks. Empower your institution and strengthen your digital banking customer journey to create and publish social content at scale by booking a demo with Denim Social today. Already a Denim Social customer? Talk to your Customer Success representative to get started.


Increasingly, customers are turning to digital providers for their financial needs — traditional lenders have dropped to only 21% of mortgage sales today. But even the highest-quality AI software can’t offer the basic building blocks of trust: guidance, reassurance, customization, and empathy.

That’s why capitalizing on the human experience and fostering genuine human interaction through social selling is key for traditional FIs to stay ahead. The trick, however, is doing it compliantly.

Compliance missteps can cause serious damage. In early 2021, for example, MassMutual received a hefty $4.75 million penalty for not ensuring its agents followed social media compliance regulations. This might be an extreme example, but any financial institution can still land in hot water if it fails to maintain FINRA-compliant digital communications. It’s vital to put compliance at the forefront of any financial institution’s social selling strategy.

Social Media Compliance for Financial Institutions From Denim Social

Denim Social is a social media compliance-first experience, as compliance is the thread that runs through our programming rather than an add-on or patch. Our tools are fully integrated to give a reliable, easy-to-use experience for financial services marketers. For this reason, financial institutions can feel safe relying on our software to help them meet their social selling goals.

How does Denim Social serve financial institutions interested in keeping up with compliance rules and regulations?

1. We offer protection.

The best way to ensure compliance is by finding and flagging potential content issues before any of it goes live on a site. Our workflows make sure the right eyes view and approve each post before publishing.

Keyword filtering flags problematic words or phrases ahead of time. And when team members try to use any restricted keywords, employees will immediately be notified of the issue — whether the content is a post, comment, or even a DM. Over time, your employees will begin to recognize restricted phrases even before the system notification appears. If there’s ever a need for damage control, Denim Social’s newest tools let administrators edit or delete users’ online messages. It can also prevent posts to out-of-compliance social networks altogether.

2. We provide constant training on social compliance.

Many of our users say the Denim Social platform offers ongoing compliance education. Your team members learn by osmosis as they test filters and receive feedback from Compliance, which continually educates your team and builds an ongoing culture of compliance among them. As they see what posts are approved versus unapproved, they receive real-time social media compliance education.

3. We curate content streams.

Using our enablement tool, teams can create libraries of preapproved content to keep employees’ social feeds full without additional approvals or workflow submissions. And if curating a full library of content on your own sounds daunting, you’re in luck. Our partnership with UpContent provides content sourcing with curated third-party content from hundreds of thousands of trusted publishers. You can optimize your time with “hands-free” curation around the clock.

This process streamlining will help your financial institution and employees build up a reputation for continuous social media use and allow you to turn your focus to vetting more personalized content. Trust that the curated content streams keep the lights on while you reach the 71% of consumers who expect personalized experiences.

4. We keep your records neat and organized.

Audits can happen at any time. Hopefully, you’ve moved past binders, but even if you’re keeping a spreadsheet of social posts, it’s not adequate or efficient for creating scalable, compliant social strategies. With our record-keeping tool, we automatically archive every post, comment, and like in our system, allowing you to easily find and share reports as needed for auditing. As you scale, it won’t be possible for a human on your team to capture everything. This is an essential protection for future audits and allows you to put your energies toward tasks other than record-keeping.

The importance of social media marketing for financial institutions is growing exponentially. So is the need for social media marketing tools that can keep up with compliance needs and ever-changing FINRA rules and expectations. If your financial institution is ready to dive into social selling but you’re concerned about remaining compliant, talk to Denim Social.

Digital-direct lenders have been staking out a larger and larger claim to the mortgage space. In 2019 alone, 58.9% of all U.S. mortgages originated from nonbank mortgage lenders. In 2020, that number jumped to 68.1%. People are increasingly adopting digital solutions, which is precisely what these lenders offer. They provide a fast and efficient means of securing a mortgage.

But speed and convenience aren’t everything, and traditional lenders still have at least one ace in their back pockets. Digital-direct lenders can’t establish human relationships like traditional mortgage loan officers can. Lenders will find their competitive advantage by building genuine connections and nurturing relationships over time.

With more than three-fourths of borrowers moving forward with the first lender they speak to, being the first in front of them to make an initial connection is the key to securing more mortgage business over time. In today’s increasingly digital world, social media is where loan officers can meet customers where they are and continue maintaining those relationships.

Mortgage marketers looking to make the most of their human resources and move the needle on deals closed will need a solid social media mortgage marketing strategy — one built on a path to scalability. The first step is creating a social media content plan.

Developing a Social Media Content Plan

Mortgage marketers need to activate loan officers on social media. Employee personal accounts have greater reach than brand pages alone, and consumers see posts from individuals as more authentic and trustworthy than those from companies.

Loan officers, however, aren’t marketers, and they’re busier than ever, as interest rates have been at historic lows. In other words, loan officers need support with their mortgage marketing efforts to execute social selling programs strategically.

Enter the social media content plan to detail when and what mortgage loan officers will post.

Consistency is critical with social media for mortgage loan officers. The post frequency you outline in your social media content plan will vary based on your resources and team, but Denim Social’s recent benchmark report can give you a good idea of how often your competitors are posting to get you started.

When it comes to the right content to include in your plan, social media marketing for mortgage loan officers should include the right mix of educational information, personalized posts, and promotional content. Denim Social’s platform can create curated content libraries from trusted third-party news sources, taking the time and effort of sourcing educational material out of loan officers’ and marketers’ hands.

Keep promotional content to a minimum, and when loan officers do share these types of posts, make them helpful and meaningful. Linking to personalized landing pages from promotional posts to guide prospects to the information they want and need is a great way to drive more value from social media.

Of course, educational and promotional content developed and scheduled by marketers and posted by loan officers only has so much power. Remember, the point of social media marketing for loan officers is to get the human element front and center. People prefer doing business with people, so loan officers should also be developing their own posts to showcase their distinct personalities, make connections, and build and strengthen customer relationships. For example, loan officers could share photos of closings or videos from community events.

While the right social media content plan and management tools will make social selling quick and easy for loan officers and marketers alike, marketers will still need to provide loan officers with some guidance. Social media training for loan officers will ensure every post is effective and compliant.

Social Media Training Tips

The average age of mortgage loan officers is 47, so chances are most members of your team aren’t digital natives. This doesn’t mean they’ll be opposed to learning or using social media, but social media training can help them get comfortable with platforms and use social strategies to their fullest potential.

While social media training programs won’t look the same for every organization, they should all explain the opportunity behind social selling and highlight the importance of consistent posting to build genuine connections. Share information about what social media marketing for mortgage loan officers can do to build brand awareness and generate leads. According to LinkedIn data, salespeople who maintain an active social media presence are 57% more like to generate leads and 45% more likely to reach quota than those who post less frequently. Considering that the average borrower purchases 11 mortgages in their lifetime, a strong social media presence can do wonders for securing business.

From there, explain why it’s essential to keep a consistent social media presence — but be sure to highlight how doing so won’t be a burden for loan officers. If loan officers don’t post regularly, social media platform algorithms may bury posts in users’ feeds and cause loan officers to drop off borrowers’ radars. But marketers can develop thoughtful social media content plans and schedule posts in advance to alleviate the pressure on loan officers to post frequently.

Marketers can handle educational and promotional posts, but loan officers do still need to add their own touch with personal content. Of course, electronic communication, including social media, is heavily regulated in financial services. Loan officers might be hesitant to create posts on their own due to social media compliance concerns. Marketers can ease their worries by assuring them that no post will go live without proper approval. Denim Social’s automatic approval workflow will get every post in front of the right people for appropriate review and sign-off.

Scaling Your Social Selling Tactics

For marketers overseeing hundreds or thousands of loan officers on social media, the idea of scaling effective and compliant social selling strategies can seem daunting or even impossible, especially if you’re still juggling different spreadsheets for login and posting information. If that sounds like you, you’re in luck: Denim Social enables you to post on various platforms from hundreds of loan officers’ profiles in just a few clicks — all from one easily-accessible dashboard.

Denim Social can also help marketers scale compliance oversight. Whereas many social media management tools are aimed at consumer brands and small businesses that don’t have to worry about regulatory concerns, Denim Social’s platform has been designed specifically with financial institutions’ needs in mind — including compliance. Along with preapproved content libraries and automated approval workflows, the platform also enables marketers to filter for keywords that could raise compliance concerns to flag potentially problematic content before it makes it to the approval step, eliminating approval process bottlenecks. These elements allow mortgage marketers to scale compliance across every loan officers’ social media strategy with ease.

Scaling compliant educational, personal, and limited promotional posts for loan officers is crucial for social media mortgage marketing, but it’s not the only important component to consider. Changing social media algorithms have made organic posts less visible over time. While these posts can still gain some traction, strategies that include paid social media advertising will deliver the most impact.

Paid Social Media Advertising

While organic content might be less impactful on its own than it once was, pairing it with paid social media advertising can bring in significant returns. Marketers can target paid posts to show up in front of the right people at the right times. For example, a loan officer looking to secure more first-time mortgage business could target recent college graduates in the local community with educational, informative posts about buying their first home.

And just like with organic posts, marketers can pull off compliant and effective paid social media advertising at scale with Denim Social. Our social media management tool combines both organic and paid into one platform to streamline your planning and oversight efforts.

Today, an effective mortgage marketing strategy for traditional lenders looks like using social media to create and maintain relationships between loan officers and customers. Thoughtful social media content plans, social media training for loan officers, and the tools to scale efforts across as many loan officers as possible will bring impressive returns. It might seem like a massive effort at first, but the right technology partners can get your social media mortgage marketing strategy up and running quickly to drive results in no time. Schedule a demo with Denim Social to see how we can work for you.


Mortgage marketers today know the value of social media. Most probably also recognize that activating mortgage loan officers in a social selling strategy is a key way to expand reach, drive engagement, and humanize the brand. But what many still haven’t mastered is how to scale that approach.

Mortgage loan officers aren’t marketers, and they need support to be successful on social media. At many larger financial institutions, that puts marketers in charge of managing hundreds of social media profiles — a daunting task for anyone.

For the many marketers still directly managing social media marketing for mortgage loan officers themselves, it can seem nearly impossible to scale the social selling approach. If you still frequently reference a spreadsheet of loan officers’ social media passwords, for example, it’s time to evolve your strategy and make your life easier.

Social media management tools designed specifically for regulated industries can help in a few key ways:

1. Posting on your loan officers’ behalf

Competition has been fierce in the mortgage industry, and loan officers are busier than ever. They must post frequently on social media to stand out from the competition and stay top of mind, but they won’t always have the time or inspiration to do so. That’s where marketers can step in to create and publish posts for them.

How often to post on your loan officers’ behalf will depend on their interest and capacity for posting on their own, but it’s good to ensure they’re posting six times a week on average. If that sounds like too much to handle, you’re in luck: A platform like Denim Social can help you post across hundreds of profiles in just a few clicks.

2. Incorporating compliance in every step

Most social media management tools have been designed for consumer brands or small businesses, but financial services require tools with social media compliance capabilities. Denim Social was designed to help marketers in regulated industries ensure every post from every employee stays within regulatory bounds.

For one, the software includes content libraries where you can store preapproved content for loan officers to access at any time. You can also set up filters to flag problematic keywords before they ever make it to the approval step, limiting approval requests and preventing bottlenecks. Custom-structured approval workflows automatically route posts to the right people so every post receives proper sign-off before going live. Together, these functions work together to ensure smooth compliance processes, no matter how many mortgage loan officer profiles you’re overseeing.

3. Combining paid and organic management

Organic posting on loan officers’ profiles is a necessary first step to an effective social media mortgage marketing strategy, but it’s not the only component. Organic posts might’ve received a lot of follower attention years ago, but social media platforms change their algorithms frequently, and those updates tend to make branded content less and less visible. That means organic content is less impactful on its own.

Organic paired with paid social media advertising, however, can show huge returns. Paid advertising allows marketers to land loan officers’ posts in front of exactly the right audiences at the right times. Of course, if managing all of your loan officers’ organic posts already sounded like a challenge, managing paid on top of it all likely seems impossible. But, again, the right tools can make it much easier. Find a social media management tool that combines organic and paid into one platform. That way, you can streamline your efforts for easy management and oversight across both.

For mortgage marketers, the most important thing to remember when it comes to managing social media marketing for mortgage loan officers is that not being able to do it all on your own isn’t a sign of weakness. Having proper oversight and maintaining social media compliance for hundreds of loan officers is simply too much to ask for any team on their own. The strongest teams will accept that the right social media management tools and technology can drive their brands and loan officers to new levels of success.

Want to learn more about social media marketing for mortgage? Check out our guidebook: Driving Your Mortgage Business with Social Media.



How Denim Social Works With Agency Partners to Create Consistent,Compliant Digital Marketing for Financial Services

Many financial institutions partner with outside agencies to create digital marketing experiences. They hire agencies to do what they do best: build connections to customers in creative ways. Even with this support, however, financial services marketers still have to ensure every piece of digital marketing stays compliant and distribute those pieces to their brand, branch, and employee feeds.

That’s where Denim Social fits into the picture — not as a replacement for agencies you’re already working with, but as a tool to boost their efforts. Financial institutions can turn to Denim Social to work with agency partners to activate more effective, efficient, and compliant social media marketing strategies. When agencies can rely on our compliance and management platform to cover the logistics behind social media marketing, they can focus all of their energy on crafting impactful campaigns. And financial institutions can get more out of their marketing dollars.

Here’s how we can work with agency partners to support financial institutions’ social media strategies and digital marketing efforts:

1. Curated Content for Social Media

So you’ve hired an agency to craft your social media marketing strategy and write attention-grabbing, interest-piquing posts. But not all of your social media posts should be new content. Your brand and employees should also share relevant news or helpful guides from other reliable sources.

You don’t need to task your agency partners with curating existing material Denim Social can free up their time to focus on creating new campaigns with our curated content support.​ Our integration with content curation industry leader UpContent brings relevant, curated articles directly to the Denim Social platform, so marketers or agencies don’t have to be responsible for sourcing every post. That means a lot, especially for financial institutions running social selling campaigns where hundreds or even thousands of employees post brand-related content.

2. Social Media Compliance Tools

The last thing any digital marketing agency wants is to create content that will land your brand in regulatory trouble. But financial institution marketers understand that even one noncompliant post could be a big problem. Denim Social can serve as the compliance checkpoint between the content an agency creates and the public, ensuring no posts go live that shouldn’t.

Our platform offers keyword and phrase filtering to bring any creative copy with potentially noncompliant messaging to your attention — before it goes live. What’s more, automated approval workflows can streamline agencies’ communication with financial institution marketers, compliance teams, and other stakeholders to get the proper sign-off on every post with ease. Marketers also know they must record every social post and interaction in case they get audited by regulatory agencies, but agency partners shouldn’t have to focus their efforts on administrative tasks and record-keeping. That’s where Denim Social can help with automatic archiving tools to get tedious tasks out of the way and let agencies do what they do best. 

3. Paid Social Media Management
Denim Social can work with agencies to deliver the best possible results for paid social media advertising. Our proprietary social media ads manager automatically optimizes ads’ performance and consolidates all social media platforms into one easily accessible dashboard for a one-stop shop.

When agencies can efficiently manage and optimize ads, they can easily scale campaigns at the brand, location, and advisor level. And when agencies can scale further and deliver more results, financial institutions get more bang for their agency buck.

4. Accurate, Data-Driven Results

Financial institution leaders need data to inform the smartest and most impactful decisions when determining where to allocate their marketing budgets. So agencies must provide that data to prove their worth beyond vanity metrics alone. Denim Social can help by clearly connecting social media campaigns to real business results.


For example, agency partners can easily create landing pages for each campaign using our Landing Page Builder. From there, they can incorporate landing page links into the social media marketing strategy and track analytics to see how many prospects followed the digital journey from social post to landing page to getting in touch to learn more. Essentially, social media can drive conversions — which translates to more profit for your institution. And Denim Social can help provide the analytics agencies need to prove it.

Successful digital marketing for financial services has to cover a lot of bases. It must be relevant, consistent, and compliant. Few financial institutions can do all of that on their own — and even their agency partners can use a hand to create more efficient and effective campaigns. That’s whereDenim Social fits into the mix. We don’t replace agencies: We support them in creating the strongest possible social media marketing strategies for financial institutions.

Connect & Convert on Social

Successfully scale conversion optimized campaigns across all social media channels with built-in compliance, publishing tools, and more.
Book a Demo
GUIDES

Maintaining A Strong Social Selling Strategy During Mergers and Acquisitions

Your financial institution, loan officers, bankers, agents, or advisors have spent a lot of time and effort building a robust social selling program, driving brand and associate presence, and establishing a good flow between marketing, compliance, and sales. Then comes the announcement that your organization will be going through a merger or an acquisition. Now what?

While it can at first seem like the hard work that was put into your social selling strategy was wasted, there are measures you can take to preserve the progress in social media marketing you’ve made and set your institution up for success both during and after a transition.

Digital transformation is one of the leading drivers of M&A activity and social selling can help your institution stay ahead. The industry shows no signs of slowing down, so banks, investment and wealth management firms, DBAs and others, will be faced with more uncertainty and opportunity for M&A activity in the future.

So, how to prepare and sustain a social selling program during transition? Start with these steps to create a foundation in your digital marketing strategy that will weather any change.  

  1. Be open and flexible as organizational shifts occur. Understanding what is changing and how it impacts various departments will make preserving or updating strategies more efficient. Don’t be afraid to ask questions and advocate for your social selling program as you navigate a new company environment.
  1. Document your social selling program. When you're in the thick of day-to-day marketing activity, it's easy to skip documenting the key tenets of the program you've designed. Take the opportunity to get down on paper the stakeholders involved, the strategy in use, the outcomes expected, etc. so it's easy to advocate for resources.
  2. Establish regular communication between compliance, marketing, and leadership. Get buy-in early and often from other departments. Sales should know why social selling is important to business, and legal and social media compliance should oversee that they are doing social selling safely. Progress and outcomes of the program should be made easily available, and setting regular meetings to keep everyone in the loop will make any transitions much easier and more adaptable.
  3. Be prepared to show records of all social media activity and history. Where there is a merger or acquisition, there is sure to be an audit. Keeping your strategy, your posts, and user information all in one place that can be easily accessed will give credibility to your social selling program and build trust with any new leadership. When users post through a platform, it is a quick fix to pull any needed information for compliance purposes.
  4. Get your budget in order. While budgets for marketing departments tend to be increasing, especially for social media, being faced with a merger might necessitate some budget rebalancing. Adopting a social selling strategy increases the value of your efforts, and multiplies what a brand can do alone, making it a budget-friendly approach.
  5. Track performance. Having a solid grasp of social media ROI and social selling analytics can inform how to present a budget to leadership and make the most of what is available. With insight from analytics, you can prove to the company that output on social media is resulting in input from new business. And remember, frontline employee engagement in a program is a powerful metric to emphasize!

Throughout the merger and acquisition process, keep an open mind and expect changes. Having management on the same page while promoting and driving the social selling program will be instrumental to ongoing success. In the face of potential transitions, feel confident that your financial institution social media marketing can withstand the test of time by preparing now.  The right social media management tools can give you the confidence to successfully transition your program, while staying compliant. Ready to learn more? Talk to your customer success manager or book a demo with us today.

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

    As any marketer worth their salt will tell you, analytics should drive your social strategy. The key to success is understanding how to link social media efforts to ROI metrics. Read this guide to learn how to gain insights that matter, optimize your strategy and prove your social success.

    GUIDES

    Maintaining A Strong Social Selling Strategy During Mergers and Acquisitions

    Your financial institution, loan officers, bankers, agents, or advisors have spent a lot of time and effort building a robust social selling program, driving brand and associate presence, and establishing a good flow between marketing, compliance, and sales. Then comes the announcement that your organization will be going through a merger or an acquisition. Now what?

    While it can at first seem like the hard work that was put into your social selling strategy was wasted, there are measures you can take to preserve the progress in social media marketing you’ve made and set your institution up for success both during and after a transition.

    Digital transformation is one of the leading drivers of M&A activity and social selling can help your institution stay ahead. The industry shows no signs of slowing down, so banks, investment and wealth management firms, DBAs and others, will be faced with more uncertainty and opportunity for M&A activity in the future.

    So, how to prepare and sustain a social selling program during transition? Start with these steps to create a foundation in your digital marketing strategy that will weather any change.  

    1. Be open and flexible as organizational shifts occur. Understanding what is changing and how it impacts various departments will make preserving or updating strategies more efficient. Don’t be afraid to ask questions and advocate for your social selling program as you navigate a new company environment.
    1. Document your social selling program. When you're in the thick of day-to-day marketing activity, it's easy to skip documenting the key tenets of the program you've designed. Take the opportunity to get down on paper the stakeholders involved, the strategy in use, the outcomes expected, etc. so it's easy to advocate for resources.
    2. Establish regular communication between compliance, marketing, and leadership. Get buy-in early and often from other departments. Sales should know why social selling is important to business, and legal and social media compliance should oversee that they are doing social selling safely. Progress and outcomes of the program should be made easily available, and setting regular meetings to keep everyone in the loop will make any transitions much easier and more adaptable.
    3. Be prepared to show records of all social media activity and history. Where there is a merger or acquisition, there is sure to be an audit. Keeping your strategy, your posts, and user information all in one place that can be easily accessed will give credibility to your social selling program and build trust with any new leadership. When users post through a platform, it is a quick fix to pull any needed information for compliance purposes.
    4. Get your budget in order. While budgets for marketing departments tend to be increasing, especially for social media, being faced with a merger might necessitate some budget rebalancing. Adopting a social selling strategy increases the value of your efforts, and multiplies what a brand can do alone, making it a budget-friendly approach.
    5. Track performance. Having a solid grasp of social media ROI and social selling analytics can inform how to present a budget to leadership and make the most of what is available. With insight from analytics, you can prove to the company that output on social media is resulting in input from new business. And remember, frontline employee engagement in a program is a powerful metric to emphasize!

    Throughout the merger and acquisition process, keep an open mind and expect changes. Having management on the same page while promoting and driving the social selling program will be instrumental to ongoing success. In the face of potential transitions, feel confident that your financial institution social media marketing can withstand the test of time by preparing now.  The right social media management tools can give you the confidence to successfully transition your program, while staying compliant. Ready to learn more? Talk to your customer success manager or book a demo with us today.

    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

    As any marketer worth their salt will tell you, analytics should drive your social strategy. The key to success is understanding how to link social media efforts to ROI metrics. Read this guide to learn how to gain insights that matter, optimize your strategy and prove your social success.

    GUIDES

    Maintaining A Strong Social Selling Strategy During Mergers and Acquisitions

    Your financial institution, loan officers, bankers, agents, or advisors have spent a lot of time and effort building a robust social selling program, driving brand and associate presence, and establishing a good flow between marketing, compliance, and sales. Then comes the announcement that your organization will be going through a merger or an acquisition. Now what?

    While it can at first seem like the hard work that was put into your social selling strategy was wasted, there are measures you can take to preserve the progress in social media marketing you’ve made and set your institution up for success both during and after a transition.

    Digital transformation is one of the leading drivers of M&A activity and social selling can help your institution stay ahead. The industry shows no signs of slowing down, so banks, investment and wealth management firms, DBAs and others, will be faced with more uncertainty and opportunity for M&A activity in the future.

    So, how to prepare and sustain a social selling program during transition? Start with these steps to create a foundation in your digital marketing strategy that will weather any change.  

    1. Be open and flexible as organizational shifts occur. Understanding what is changing and how it impacts various departments will make preserving or updating strategies more efficient. Don’t be afraid to ask questions and advocate for your social selling program as you navigate a new company environment.
    1. Document your social selling program. When you're in the thick of day-to-day marketing activity, it's easy to skip documenting the key tenets of the program you've designed. Take the opportunity to get down on paper the stakeholders involved, the strategy in use, the outcomes expected, etc. so it's easy to advocate for resources.
    2. Establish regular communication between compliance, marketing, and leadership. Get buy-in early and often from other departments. Sales should know why social selling is important to business, and legal and social media compliance should oversee that they are doing social selling safely. Progress and outcomes of the program should be made easily available, and setting regular meetings to keep everyone in the loop will make any transitions much easier and more adaptable.
    3. Be prepared to show records of all social media activity and history. Where there is a merger or acquisition, there is sure to be an audit. Keeping your strategy, your posts, and user information all in one place that can be easily accessed will give credibility to your social selling program and build trust with any new leadership. When users post through a platform, it is a quick fix to pull any needed information for compliance purposes.
    4. Get your budget in order. While budgets for marketing departments tend to be increasing, especially for social media, being faced with a merger might necessitate some budget rebalancing. Adopting a social selling strategy increases the value of your efforts, and multiplies what a brand can do alone, making it a budget-friendly approach.
    5. Track performance. Having a solid grasp of social media ROI and social selling analytics can inform how to present a budget to leadership and make the most of what is available. With insight from analytics, you can prove to the company that output on social media is resulting in input from new business. And remember, frontline employee engagement in a program is a powerful metric to emphasize!

    Throughout the merger and acquisition process, keep an open mind and expect changes. Having management on the same page while promoting and driving the social selling program will be instrumental to ongoing success. In the face of potential transitions, feel confident that your financial institution social media marketing can withstand the test of time by preparing now.  The right social media management tools can give you the confidence to successfully transition your program, while staying compliant. Ready to learn more? Talk to your customer success manager or book a demo with us today.

    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

    As any marketer worth their salt will tell you, analytics should drive your social strategy. The key to success is understanding how to link social media efforts to ROI metrics. Read this guide to learn how to gain insights that matter, optimize your strategy and prove your social success.

    GUIDES

    Maintaining A Strong Social Selling Strategy During Mergers and Acquisitions

    Your financial institution, loan officers, bankers, agents, or advisors have spent a lot of time and effort building a robust social selling program, driving brand and associate presence, and establishing a good flow between marketing, compliance, and sales. Then comes the announcement that your organization will be going through a merger or an acquisition. Now what?

    While it can at first seem like the hard work that was put into your social selling strategy was wasted, there are measures you can take to preserve the progress in social media marketing you’ve made and set your institution up for success both during and after a transition.

    Digital transformation is one of the leading drivers of M&A activity and social selling can help your institution stay ahead. The industry shows no signs of slowing down, so banks, investment and wealth management firms, DBAs and others, will be faced with more uncertainty and opportunity for M&A activity in the future.

    So, how to prepare and sustain a social selling program during transition? Start with these steps to create a foundation in your digital marketing strategy that will weather any change.  

    1. Be open and flexible as organizational shifts occur. Understanding what is changing and how it impacts various departments will make preserving or updating strategies more efficient. Don’t be afraid to ask questions and advocate for your social selling program as you navigate a new company environment.
    1. Document your social selling program. When you're in the thick of day-to-day marketing activity, it's easy to skip documenting the key tenets of the program you've designed. Take the opportunity to get down on paper the stakeholders involved, the strategy in use, the outcomes expected, etc. so it's easy to advocate for resources.
    2. Establish regular communication between compliance, marketing, and leadership. Get buy-in early and often from other departments. Sales should know why social selling is important to business, and legal and social media compliance should oversee that they are doing social selling safely. Progress and outcomes of the program should be made easily available, and setting regular meetings to keep everyone in the loop will make any transitions much easier and more adaptable.
    3. Be prepared to show records of all social media activity and history. Where there is a merger or acquisition, there is sure to be an audit. Keeping your strategy, your posts, and user information all in one place that can be easily accessed will give credibility to your social selling program and build trust with any new leadership. When users post through a platform, it is a quick fix to pull any needed information for compliance purposes.
    4. Get your budget in order. While budgets for marketing departments tend to be increasing, especially for social media, being faced with a merger might necessitate some budget rebalancing. Adopting a social selling strategy increases the value of your efforts, and multiplies what a brand can do alone, making it a budget-friendly approach.
    5. Track performance. Having a solid grasp of social media ROI and social selling analytics can inform how to present a budget to leadership and make the most of what is available. With insight from analytics, you can prove to the company that output on social media is resulting in input from new business. And remember, frontline employee engagement in a program is a powerful metric to emphasize!

    Throughout the merger and acquisition process, keep an open mind and expect changes. Having management on the same page while promoting and driving the social selling program will be instrumental to ongoing success. In the face of potential transitions, feel confident that your financial institution social media marketing can withstand the test of time by preparing now.  The right social media management tools can give you the confidence to successfully transition your program, while staying compliant. Ready to learn more? Talk to your customer success manager or book a demo with us today.

    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

    As any marketer worth their salt will tell you, analytics should drive your social strategy. The key to success is understanding how to link social media efforts to ROI metrics. Read this guide to learn how to gain insights that matter, optimize your strategy and prove your social success.

    RESOURCES

    NEWS
    September 8, 2022

    Maintaining A Strong Social Selling Strategy During Mergers and Acquisitions

    By
    Connor Phillips

    Your financial institution, loan officers, bankers, agents, or advisors have spent a lot of time and effort building a robust social selling program, driving brand and associate presence, and establishing a good flow between marketing, compliance, and sales. Then comes the announcement that your organization will be going through a merger or an acquisition. Now what?

    While it can at first seem like the hard work that was put into your social selling strategy was wasted, there are measures you can take to preserve the progress in social media marketing you’ve made and set your institution up for success both during and after a transition.

    Digital transformation is one of the leading drivers of M&A activity and social selling can help your institution stay ahead. The industry shows no signs of slowing down, so banks, investment and wealth management firms, DBAs and others, will be faced with more uncertainty and opportunity for M&A activity in the future.

    So, how to prepare and sustain a social selling program during transition? Start with these steps to create a foundation in your digital marketing strategy that will weather any change.  

    1. Be open and flexible as organizational shifts occur. Understanding what is changing and how it impacts various departments will make preserving or updating strategies more efficient. Don’t be afraid to ask questions and advocate for your social selling program as you navigate a new company environment.
    1. Document your social selling program. When you're in the thick of day-to-day marketing activity, it's easy to skip documenting the key tenets of the program you've designed. Take the opportunity to get down on paper the stakeholders involved, the strategy in use, the outcomes expected, etc. so it's easy to advocate for resources.
    2. Establish regular communication between compliance, marketing, and leadership. Get buy-in early and often from other departments. Sales should know why social selling is important to business, and legal and social media compliance should oversee that they are doing social selling safely. Progress and outcomes of the program should be made easily available, and setting regular meetings to keep everyone in the loop will make any transitions much easier and more adaptable.
    3. Be prepared to show records of all social media activity and history. Where there is a merger or acquisition, there is sure to be an audit. Keeping your strategy, your posts, and user information all in one place that can be easily accessed will give credibility to your social selling program and build trust with any new leadership. When users post through a platform, it is a quick fix to pull any needed information for compliance purposes.
    4. Get your budget in order. While budgets for marketing departments tend to be increasing, especially for social media, being faced with a merger might necessitate some budget rebalancing. Adopting a social selling strategy increases the value of your efforts, and multiplies what a brand can do alone, making it a budget-friendly approach.
    5. Track performance. Having a solid grasp of social media ROI and social selling analytics can inform how to present a budget to leadership and make the most of what is available. With insight from analytics, you can prove to the company that output on social media is resulting in input from new business. And remember, frontline employee engagement in a program is a powerful metric to emphasize!

    Throughout the merger and acquisition process, keep an open mind and expect changes. Having management on the same page while promoting and driving the social selling program will be instrumental to ongoing success. In the face of potential transitions, feel confident that your financial institution social media marketing can withstand the test of time by preparing now.  The right social media management tools can give you the confidence to successfully transition your program, while staying compliant. Ready to learn more? Talk to your customer success manager or book a demo with us today.

    Subscribe to our newsletter and get the latest sent to your inbox.
    Thank you for subscribing!
    Oops! Something went wrong while submitting the form.
    OTHER NEWS:

    If you are posting the same content on every social media network, you might be missing out on key engagement opportunities for your social selling strategy. What gets the most attention and engagement on Facebook, Instagram, Twitter, or LinkedIn isn’t universal, and financial marketers would be wise to seek a more nuanced strategy than just casting a wide net and hoping for the best. While there are general best practices to posting on social, making just a few distinctions to how you approach each of your networks can help you beat the dreaded social media algorithms and build credibility and expertise at the brand and individual producer levels. Let’s take a look at each network and how banks, wealth management firms, insurance agencies, and mortgage lenders can customize their strategies to the unique needs of each network to achieve growth and success. 

    Facebook: This is what you should know about our financial institution. 

    Despite the emergence of new networks and the inevitable departure of Gen Z and Millennials, Facebook is still the most popular social media network, and it’s a non-negotiable for any business. For community banks and other smaller financial businesses, it is the perfect medium to connect with local communities. This network will be one of the first places many customers look for a business, so having updated and branded profile information is essential. It’s ideal for sharing important dates or events, announcements, or anything customers need to be in the know about. Utilize brand pages for general information, and allow your agents, advisors, or employees to curate more personalized content on their individual business pages. 

    How To Succeed:

    • Share a wide variety of content geared towards informing and connecting with audiences
    • Post content related to the local community and partnerships with other business or organizations
    • Take advantage of user-generated content to build and maintain relationships with customers at the brand and producer levels

    Twitter: Talking about our #financialinstitution. 

    Sometimes Twitter seems like a mystery with its unique format, hashtag content, and 280-character limit. Like any other network, customers and prospects will consult a company’s account to find information they need to know; but more importantly, Twitter is a network people go to in order to hear news and opinions - and share their own. It is primarily a resource for sharing thought leadership and staying informed about industry updates. To be set up for success, brands and producers should follow relevant accounts like competitors, local businesses, and industry leaders. Hashtags are a useful way to learn about the broader conversations happening- plus, they provide insight into the hashtags marketers should be incorporating as well. Like any other network, brands engaging in social selling will enjoy the benefit of more engagement and awareness opportunities. 

    How To Succeed:

    • Prioritize engaging in existing conversations, rather than creating original content
    • Retweet relevant information for your customers and your brand, and utilize the mention function to increase visibility
    • Follow and use hashtags related to your industry to stay connected to current events and other thought leaders

    LinkedIn: This is what our financial institution wants you to know, and why.

    Branded as the professional social network, LinkedIn is perhaps the most important place for financial services brands and employees to be when it comes to social selling. This is a great way for brands to grow their reach by tapping into the power of user connections through sharing thought leadership and need-to-know information regarding their industry. Plus, authenticity is increasingly important on LinkedIn, with customers preferring to interact with brands that seem more relatable. Marketers and individual producers can use LinkedIn to share those values and insights into company culture that make people feel connected: photos, videos, and important awards or achievements can help boost engagement and brand awareness. With the power of a brand page combined with employee advocacy through social selling, LinkedIn should be a main focal point for any financial institution. 

    How To Succeed:

    • Share images of community and in-person interactions and events with context on what it means to your business
    • Follow local businesses from your actual business page (such as: local library, schools, industry competitors, local figures) and engage with their posts from your business page
    • Share high-performing posts from industry thought leaders and other local businesses; this boosts their engagement and gets visibility for both of you

    Instagram: Here’s a photo or video of what our financial institution values. 

    As a highly popular and visually-appealing social media network, Instagram is ideal for demonstrating a more human side to any financial brand, which is especially important for connecting with younger customers. This network is meant to be fun and entertaining for followers, while also staying on brand for financial companies and still informative. Of all the networks, Instagram is going to be the easiest way to reach younger audiences and get creative with content. For brands engaging in social selling, it’s a fun way to give producers a chance to show their personality and connect with customers on a more casual level. Instagram is also very dynamic and visual: the Reels and Stories functions provide alternative ways to share and engage quickly with video, which provides more opportunities to get in front of audiences within the platform than image posts alone.

    How To Succeed:

    • Post images from community or in-person interactions; share important posts to brand and producer Stories, then save to Highlights
    • Use emojis in copy and keep text light and fun; it’s all about the visuals on this network
    • Follow other businesses/industry thought leaders; engage with their content and share posts to your own stories

    While every network has its own charms and best practices, there are a few overall things to keep in mind when launching a social selling program: stay authentic and non-salesy; keep compliance matters in mind; know how to maintain a balanced and informed feed; and finally, don’t forget that paid advertising can boost organic efforts on any network. Knowing what to post on each social media network can be overwhelming, but understanding the best way to approach social selling at the brand and individual levels on Facebook, Instagram, Twitter, and LinkedIn will translate to more engagement, better brand awareness, and increased trust from industry leaders and customers. With a little fine-tuning and support for your team, you can see the difference a network-based content approach can make for your financial institution. 

    3 Steps to Social Selling
    September 16, 2022

    What is social selling and how does your financial institution get started?

    Social selling is just what it sounds like: using social media to sell a product or service. It’s leveraging social to build personal relationships, showcase thought leadership, engage with prospects, interact with existing customers, and ultimately build trust and rapport that will eventually lead to sales.

    Social selling is the perfect crossroads of marketing and sales. It enables intermediaries – like loan officers, financial advisors and insurance agents – to add value to the customer journey where there wouldn’t otherwise be an opportunity.

    If you're wondering where to get started, check out Denim Social's latest infographic to learn more.

    Ready to learn more? Click here to meet with the Denim Social team.

    Analytics should drive every financial institution’s social strategy. From rising consumer expectations to increased c-suite demands, measurable results are a requirement for a successful social media strategy. That means today’s financial marketers must be able to link social media efforts to ROI metrics.

    In the latest Denim Social guide, we’ll help you understand how to use social media analytics to:

    • Gain valuable insights on what your customers want
    • Optimize social media efforts to drive results
    • Demonstrate results to leadership, securing support and budget

    Click below to get started on your analytics journey:

    A Guide to Using Social Media Analytics to Enhance Your Financial Institution's Marketing Strategy

    The true foundation of sales is relationship building. While this has traditionally been done in person, especially in the insurance industry, the digital landscape offers endless possibilities for relationship building. This is why leveraging social media as a sales tool is so integral to your digital marketing strategy.

    Social selling is the perfect crossroads of marketing and sales, and enables intermediaries to add value to the customer journey where there wouldn’t otherwise be an opportunity. After all, Net Promoter Scores are 15 points higher for property and casualty insurance customers when they’ve interacted with their insurers within the past year.

    Developing a social selling strategy and launching a program can be daunting. Marketing and sales teams are already juggling full plates. Adding social to the sales mix is a culture shift, and supporting hundreds or thousands of intermediaries in weaving social into their everyday processes isn’t a small feat. Remember that social selling is more than marketing: It’s using social media as a digital relationship-building and sales tool.  

    This mindset shift can take some time, and launching your strategy and program won’t happen overnight. Luckily, there are tools available to make this culture shift much easier. Denim Social was built to power social selling programs within the financial services industry, and we’ve outlined what it takes to launch a successful program:

    1. Align with your team on the definition of social selling.

    Social selling is just what it sounds like: using social media to sell a product or service. It’s leveraging social to build personal relationships, showcase thought leadership, engage with prospects, interact with existing customers, and ultimately build trust and rapport that will eventually lead to sales.

    While this may be old news to you, intermediaries may have less experience with it. Take the time to talk about it this way and educate your teams on using social media as a sales tool. This time spent learning a new marketing tactic is very much worth your agents’ time, too. Prove it to them by sharing meaningful stats on the benefits of social selling. For example, LinkedIn’s 2022 State of Sales Report found the most successful sellers at large companies — those reaching more than 150% of quota — routinely use technology to build human connections with buyers.

    2. Educate your sales team.

    Remember that social selling isn’t just marketing’s responsibility. It’s an effort that should be supported by both marketing and sales. If you’re in a marketing role looking to launch social selling for your intermediaries, take the time to educate your sales partners on social selling. Craft your elevator pitch on how social helps intermediaries meet customers where they are in the digital landscape and how enabling them on social helps amplify your brand messaging.

    Keep in mind that social media in a heavily regulated industry can feel risky, and adding it to the mix of sales tactics that have “always been done a certain way” can feel like a huge change. Patience is key! Own the narrative around social selling, build your group of internal champions to help with this culture shift, and invest time in change management and your communication plan.

    3. Find your social selling technology.

    Once you’ve got your internal teams aligned on launching social selling for your intermediaries, it’s important to find a tech solution to make it all easier! Seek a solution that creates efficiencies for the administrators of your program and your users. For instance, does your platform account for compliance coverage? Does your vendor understand the nuances of your industry? As you’re evaluating potential platforms, make sure to consider both the administrative and end-user experience, as well as both organic and paid capabilities. A holistic social selling platform will include all these things.

    Spoiler alert: At Denim Social, we do all these things! We specifically support the financial services industry, understand your compliance needs, and, most importantly, understand the impact intermediaries can make through social selling (both organic and paid). We can also operate with any other tools you use to manage your brand, so you have full control over your tech stack.

    4. Identify social maturity.

    So you’re changing the narrative, gaining buy-in, and you’ve found Denim Social to help you — what’s next? It’s time to dig into your user group to identify social maturity. You don’t have to do it all at once — a phased approach with folks of different social maturity levels will make this easier to learn and scale from.

    Start by simply searching for your intermediaries on social media. How easy is it to find them? Are their pages updated and on brand? Is their “about” info robust and accurate? Have their profile photos been updated in the last decade?

    If you are answering “yes” to a lot of these, you already have a great start. Those are your people. But if you aren’t, that’s OK — you’ll just need to start with some generalized social education and profile optimization to get your group started. Taking the time to deliver this education is critical in making social media for insurance agents stick.

    5. Train and test your user group.

    Once you’ve identified agents who are either already active on social or ready to be active, start communicating. Let your whole organization know that you’re launching a social selling program. The more folks who know, the more they can support your work. Then, communicate with your first user group; let them know what to expect throughout the launch, including your level of support and upcoming training to get them started.

    And finally ... train! Depending on the level of social maturity of your launch group, this might mean starting with the basics of each social platform, as well as the basics of organic and paid social. If your users are super ready, it could mean jumping right into your social selling tech solution.

    6. Measure success and optimize over time.

    Once you have momentum, fuel that success with regular content. It takes time: Start simply by creating intermediary versions of your brand content and add this content to your content planning processes (for instance, you might craft language your agents can use to share branded social posts). One of the perks of Denim Social? We curate your library with our content integration.

    Finally, measure your success and share it with your internal champions, teams, and leadership. Your measurement might just consist of basic content usage and engagement at first, but it will ultimately grow to measuring return on ad spend and leads generated. Take the time to celebrate small wins and educate your internal partners on the growth of your social selling program. Check in with your social sellers to make sure they’re understanding the value and celebrating with you.

    At the end of the day, remember that launching and maintaining a social selling program is a long-term commitment. It can take a while to steer the ship in a new direction, and that’s OK! It means you’re thoughtfully implementing a new strategy and are training your team appropriately.

    To learn more about how insurance agents can optimize social selling and promote growth, connect with Denim Social today.

    Forward-thinking marketers understand the power of social media at all stages of their marketing funnel. From awareness and consideration to loyalty and even advocacy, social and digital channels can and do inform purchase decisions. Financial institutions are catching on — more than 90% of the 50 largest banks are currently on Facebook, and 88% have active Twitter accounts — but being on social media doesn’t equate to a strong social media strategy. Today’s digital market requires an integrated strategy that meets target audiences throughout the buyer’s journey. This means investing in paid social campaigns alongside organic and driving deeper relationships with customers through social selling.

    Sounds easy, right? While marketers may understand the strategies and costs associated with modern social success, senior decision makers may still need educating and persuading. That’s why it’s essential to be able to effectively communicate the benefits of integrated social media strategies. In addition to intangible benefits like building trust and humanizing your brand, both organic and paid social selling strategies offer metrics that enable marketers to prove value.

    After all, people buy from people. So if you’re ready to advocate for an expanded social media strategy, start by asking yourself these questions. Not only will they help you decide on your strategic priorities, but they will also show you how to articulate the value of social media strategies to the people holding the budget strings. To prove the value of social media in financial services and get buy-in from senior leaders, marketers must ask themselves these questions:

    Does Our Social Media Marketing Drive ROI?

    Expanding a social media strategy often means increased spending — so you must be able to show decision makers the value of social. While financial marketers are already advocates — they know the power of paid social media efforts and have seen it in action — other leadership may not have that knowledge. It’s up to marketing teams to connect the dots on how their efforts are driving business results, and that means providing a strong argument based on metrics and concrete benefits.

    Data tells a powerful story, so let it guide the conversation. And to further strengthen your case for expanded social media strategies, make sure to highlight these benefits:

    • Targeting

    While organic content is important, leaders must understand that it’s not enough to impact the bottom line without paid support. Paid social media gives more flexibility than organic content — you can target specific customer subsets, or even new audience bases, allowing for greater personalization and a higher ROI. It’s all about delivering relevant content to the right consumers at the right time.

    • Feedback

    Feedback may not always impact the bottom line, but social media itself does offer a direct line to consumers. With the lines of communication open, it becomes easier to listen and learn about their wants, needs, and interests. An open-ended post, for instance, can encourage comments, which provide qualitative feedback on any given topic. This will improve the trust in your institution; customers (and their followers!) will see the commitment to providing an ever-improving experience.

    • Conversion

    Social media is about more than likes: If you’re providing links on social media (and you should), you’re creating conversion opportunities. Direct consumers to a landing page — from there, you can collect lead information. All that’s left is a follow-up. If that landing page has a form, track completion rates. The icing on top? These interactions are all measurable. Prove value by comparing these metrics with traditional tactics. When did a leader ever see a recorded, data-backed conversion metric from a billboard?

    • Efficiency

    Measuring social media marketing ROI, like most analytics, requires technology — and the right technology, at that. Spreadsheets simply won’t cut it, and they’re not as accurate or efficient as the tools that fintech partners offer. That’s why the Denim Social platform was built with financial institutions in mind. Its analytics capabilities allow for a more efficient means of capturing results while also centralizing information. Data is readily available, which can simplify and improve the approval workflow. Improvements to the workflow process have been shown to free up 20% to 30% of employees’ time — so bring that statistic to decision makers to prove its necessity.

    How Do You Use Social Media Analytics to Make Your Case?

    Expanding marketing strategies means collecting more data, and that necessitates a robust social media management tool. Gathering data on any social media marketing campaign affords you the opportunity to measure its overall performance and gives you clear-cut evidence to support business measures related to those efforts.

    Of course, data should be gathered based on specific criteria. Meaningful insights come from specific measurable goals related to your campaign and the goals of company decision makers. While the objectives of any social media strategy for financial services will vary from one institution to the next, any marketing effort can benefit from optimizing strategy through social media ROI metrics.

    Use metrics to hone your messaging and audience. Every social media marketing post is a learning opportunity about what resonates with your audience. Analytics show what topics drive engagement, what calls to action inspire clicks, and so on. Then, fine-tune subsequent posts based on your findings. Mastering social is an iterative process. When speaking with upper management, highlight how this process delivers greater value over time by continuously evolving.

    As you optimize your messaging, look to target audiences. Social media, and paid social in particular, allows you to target subsets of consumers. Vary your messaging and content, and you begin to understand what connects with whom. This allows you to maximize social media spend going forward — you’re not wasting time and effort putting messaging in front of an uninterested audience. When decision makers want to reach specific audiences, outline how putting money toward paid ad campaigns makes that happen.

    Audience engagement with your posts isn’t the only important metric; they’re likely interacting with your competition, too. Denim Social’s social listening tools provide a simple — but comprehensive — snapshot of competitors. Use our built-in metrics comparisons to learn what’s working for others and where you’re ahead.

    When you’re looking at your own metrics, be sure to pay attention to where the customer journey is going. Failure to guide customers to a landing page and other lead-generating tools will lead to dead ends, which isn’t the best use of these channels. Trackable links and analytics help marketers recognize the best avenues for using social media posts to capture leads that translate into sales. If you aren’t effectively working toward leads, it’ll be difficult to defend the necessity of your budget.

    Finally, don’t measure your ROI too soon. If you’re going to connect the value of social to your broader business objectives, you need to sync your measurement time with your sales cycle or risk misunderstanding (and likely underestimating) the impact of social. Help leadership understand that ROI isn’t a one-and-done and it’s not instantaneous. That way, you’re guiding their expectations to the bigger picture of what your social media strategy is doing.

    Troves of data are available from social media channels, and you’ll need the right technology to organize the information and arrive at a set of objectives that align with your larger business goals. The right measurement tool can build the confidence digital marketers need to foster social media marketing ROI success.

    What’s the Cost of Getting Social Media Compliance Wrong?

    Social media compliance for financial institutions can feel challenging, especially today. SEC Chairman Gary Gensler has brought increased scrutiny to social media since his appointment, and it’s understandable for institutions to want to pull back efforts to mitigate compliance risks. Make sure your executives understand that this method loses more than they gain.

    Consider that customers are increasingly using digital methods to meet financial needs. Can anyone afford to lose out on that audience base? You won’t reach new customers, and you’re losing valuable social selling opportunities with the ones you have. Social selling influences half of revenue for 14 major industries — and financial services is one of them.

    Rather than scaling back social media efforts (and in the process, your revenue), work to mitigate compliance risks. When senior management airs concerns over compliance, counter with technology to automate compliance monitoring. Denim Social was built for compliance, so you can focus less on worrying if you’re compliant and more on fostering leads.

    With Denim Social, you can use numerous tools that can help in ensuring:

    • Protection. Problematic posts never see the light of day, as our platform not only establishes an approval workflow but also flags posts containing questionable keywords or phrases even before the review process.

    • Education. Our platform can serve as an ongoing compliance education tool. Team members receive almost immediate feedback and can test the equipped filters to understand what might cause regulatory trouble.

    • Enablement. Denim Social allows for the creation content libraries and curated, pre-approved posts. Team members can pull from these resources without the need for approvals, adding speed and efficiency to the process.

    • Record-keeping. The potential of an audit hangs over every financial institution. Our platform archives all social media posts and interactions. It even does the same with comments. If regulators come knocking, you’ll have a report in no time.

    • Notifications. Should a team member try to send a post through the approval process with a prohibited keyword or phrase, those flags send a notification directly to the individual. Employees quickly learn what can and cannot be posted.

    • Profile locks. Rules can be built within the platform that can prevent team members from posting problematic content, helping to quell worries about social media compliance. The goal is to provide the controls necessary to avoid issues.

    • Editing. Admins can edit or delete team members’ posts, comments, or direct messages right from the platform — across any connected social channel. In fact, the process is automated when prohibited keywords or phrases hit the network.

    Social media compliance for financial institutions shouldn’t be more complicated than any other compliance for your operation. It all comes down to your choice of technology, and Denim Social has the experience and tools you need to make it a breeze.

    What Do We Need in a Fintech Partner?

    The social media marketing needs of financial institutions are unique. You’re not necessarily selling a product or a service but a relationship with a qualified professional, which calls for authenticity and empathy to establish a sense of trust. The tactics used by “traditional” brands simply aren’t as impactful in the financial services space.

    Beyond that, social media compliance is complex. Without industry knowledge, it can be difficult for a marketing agency to navigate the nuances set by FINRA. Your fintech partner should fully appreciate the regulatory constraints and respect the concerns of your financial institution while still understanding how to drive real value with your social media strategy.

    However, according to Cornerstone’s “What’s Going On In Banking 2021” report, financial institutions aren’t having much success finding these qualified and attentive partners, noting that FI “boards will tire of not seeing results [from fintech partnerships]." Executives are relying on your expertise to identify fintech partners with a proven ability to collaborate and create solutions. And because boards may be wary of partners, you must be able to outline exactly how that partner will help you reach your goals. Help executives understand these benefits.

    • Customized onboarding.

    Denim Social customizes our onboarding process to meet your specific needs, so executives know they’re getting an experience tailor-made for the company. No questions are left unanswered — we walk alongside you to always offer an explanation. On top of that, our team will help you craft the communication necessary to get employees to use the platform. Emails, messaging, toolkits, and more are available to encourage adoption, so upper-level management knows they’re investing in a tool that will see widespread use.

    • Team training.

    Depending on your size and needs, we provide kickoff and regular training to help team members make the most of the platform so that decision makers can rest easy knowing our software isn’t being underutilized. We can also provide train-the-trainer sessions to move training internal, and our recently launched Academy can help marketers become certified on our platform.

    • Strategy consultation.

    Our customer success team can help you identify tactics to move the needle on your social media strategy. Just ask, and we’ll provide best practices and industry-relevant comparisons to inform your tactics and optimize your social selling implementation.

    • Content libraries.

    We work directly with your institution and UpContent to ensure you can create a customized content library that matches the specific needs of your business and your customers.

    In order to optimize a social media strategy, FI leaders and marketers must be able to sustain compliance at scale and understand social media measurement and analytics to see ROI. When you understand your metrics, you can bring that knowledge to decision makers, too. They’ll see the value you bring to the brand and associates (and match that value when it’s time to make budgets). Trusted fintech partners with dedicated customer success teams can help.

    Bottom line: Social media is hard, but marketers don’t have to do it alone. With Denim Social, they have dedicated team members they can call to help.

    Get in touch with us today to schedule a demo!

    For financial institutions, digital marketing for their financial services is a must, but organic posts are not enough on their own to build and nurture audiences. Organic content only reach an average of 2.2% of followers of social media platforms, so how can financial institutions stand out in busy social media newsfeeds and reach more people in their natural environments? The answer lies in paid social media advertising.

    A third of internet users find new products and brands through paid ads, so it’s no surprise to see a rise in digital ad spend over the years. While organic posts are also an important part of a social media strategy, paid ads are where financial institutions can grow their audience and reach their marketing goal metrics.

    You’re not doing ads for the sake of ads. Know your goals. Do you want to convert, get people to consider you, or build brand awareness? The platforms are going to ask you these questions, but you should know before you ever start building the ad sets. Once you have your ad campaign, budget, and targeting ready — the red tape needed before breaking ground — you can begin implementing your digital marketing strategy. This process can be repeated on multiple campaigns for maximum impact, increasing your ROI with each successful campaign.

    Creating Paid Ad Campaigns for More Effective Marketing Efforts

    When optimizing digital marketing for banking or any other financial institution, you’ll always hit these four key pillars:

    1. Choose a Platform

    Determining which platform is right for your financial institution depends on your objectives and target audience. There are no right or wrong answers; it’s about whom you want your ads to reach and for what purpose. For example, if you’re looking to build trust with professionals, LinkedIn is consistently rated as the most trustworthy platform. Featuring your ads there will have a higher impact than posting on platforms such as Instagram.

    Speaking of, Instagram is often used by Gen Z, and the most popular platform for following brands — almost 90% of people say they have followed, visited a brand site, or made a purchase because of Instagram ads. This would be a great place to post investment tips and personal finance advice because, according to FINRA data, Gen Z users are looking specifically for that subject. Tailoring your content to a specific platform requires thoughtful planning, but it’s a step you won’t regret.

    2. Create and Test Content

    Even a single social media post is made up of a lot of moving parts — from the images, to the copy, to the call to action — and each part can be optimized. Look at what pieces of your ads work, and change what doesn’t. Don’t follow trend articles; rather, pay attention to what works for your audience and your institution.

    This could mean using paid ads to A/B test different audiences or trying out different CTAs. The options are nearly endless. Track the performance of individual content decisions and use these insights to make improvements. And remember, all these content decisions — especially the placement of links — should be made with your customers’ purchase decision journeys in mind. Consumers want brands to be practical, authentic, and engaging. Test your content to ensure you’re delighting your audiences at every touchpoint.

    3. Monitor Analytics

    Every platform has analytics — but they all handle them differently. That’s why Denim Social gives you access to real-time, easy-to-understand engagement metrics across the board. Monitoring your analytics helps you track engagement metrics and benchmark your success against forecasts and competitors. By tracking which posts your audience engages with the most, you can also give your team a place to start when creating new content: Our platform lets you share local insights with your teammates in just two clicks. Taking high-performing topics and adapting them further will help you provide customers with the knowledge they find most valuable and cultivate trust. Almost a third of internet users say they find new products and brands through paid social ads, so monitor who you’re reaching and how it’s boosting your institution.

    4. Optimize Budget

    We’ve mentioned the need to set a budget, but let us emphasize that budgeting is crucial in your digital marketing strategy. With so many ad options available and so many potential target audiences to reach, it can be confusing to know where to invest your marketing dollars. Thankfully, Denim Social uses a proprietary social media ads manager to automatically optimize ad performance across multiple platforms. This allows you to run an omnichannel marketing strategy with ease.

    Digital marketing for financial services can seem daunting at first. Financial services marketers have a lot of details to pay attention to, and each platform has its unique way of serving ads. But a singular platform like Denim Social can help you run and monitor social media ad campaigns across all networks and ensure you’re standing out among the competition — to get started, reach out for a demo of the Denim Social platform today.

    Connect & Convert on Social

    Successfully scale conversion optimized campaigns across all social media channels with built-in compliance, publishing tools, and more.
    Book a Demo

    RESOURCES

    VISION
    September 8, 2022

    Maintaining A Strong Social Selling Strategy During Mergers and Acquisitions

    By
    Connor Phillips

    Your financial institution, loan officers, bankers, agents, or advisors have spent a lot of time and effort building a robust social selling program, driving brand and associate presence, and establishing a good flow between marketing, compliance, and sales. Then comes the announcement that your organization will be going through a merger or an acquisition. Now what?

    While it can at first seem like the hard work that was put into your social selling strategy was wasted, there are measures you can take to preserve the progress in social media marketing you’ve made and set your institution up for success both during and after a transition.

    Digital transformation is one of the leading drivers of M&A activity and social selling can help your institution stay ahead. The industry shows no signs of slowing down, so banks, investment and wealth management firms, DBAs and others, will be faced with more uncertainty and opportunity for M&A activity in the future.

    So, how to prepare and sustain a social selling program during transition? Start with these steps to create a foundation in your digital marketing strategy that will weather any change.  

    1. Be open and flexible as organizational shifts occur. Understanding what is changing and how it impacts various departments will make preserving or updating strategies more efficient. Don’t be afraid to ask questions and advocate for your social selling program as you navigate a new company environment.
    1. Document your social selling program. When you're in the thick of day-to-day marketing activity, it's easy to skip documenting the key tenets of the program you've designed. Take the opportunity to get down on paper the stakeholders involved, the strategy in use, the outcomes expected, etc. so it's easy to advocate for resources.
    2. Establish regular communication between compliance, marketing, and leadership. Get buy-in early and often from other departments. Sales should know why social selling is important to business, and legal and social media compliance should oversee that they are doing social selling safely. Progress and outcomes of the program should be made easily available, and setting regular meetings to keep everyone in the loop will make any transitions much easier and more adaptable.
    3. Be prepared to show records of all social media activity and history. Where there is a merger or acquisition, there is sure to be an audit. Keeping your strategy, your posts, and user information all in one place that can be easily accessed will give credibility to your social selling program and build trust with any new leadership. When users post through a platform, it is a quick fix to pull any needed information for compliance purposes.
    4. Get your budget in order. While budgets for marketing departments tend to be increasing, especially for social media, being faced with a merger might necessitate some budget rebalancing. Adopting a social selling strategy increases the value of your efforts, and multiplies what a brand can do alone, making it a budget-friendly approach.
    5. Track performance. Having a solid grasp of social media ROI and social selling analytics can inform how to present a budget to leadership and make the most of what is available. With insight from analytics, you can prove to the company that output on social media is resulting in input from new business. And remember, frontline employee engagement in a program is a powerful metric to emphasize!

    Throughout the merger and acquisition process, keep an open mind and expect changes. Having management on the same page while promoting and driving the social selling program will be instrumental to ongoing success. In the face of potential transitions, feel confident that your financial institution social media marketing can withstand the test of time by preparing now.  The right social media management tools can give you the confidence to successfully transition your program, while staying compliant. Ready to learn more? Talk to your customer success manager or book a demo with us today.

    Subscribe to our newsletter and get the latest sent to your inbox.
    Thank you for subscribing!
    Oops! Something went wrong while submitting the form.
    SIMILAR POSTS:

    People buy from people. That fundamental truth is the cornerstone of the insurance industry and is holding true even as the insurance value chain becomes more and more digital. But in a world where customers increasingly avoid in-person interactions — McKinsey’s 2020 U.S. Insurance Agent Survey saw a 65% drop in face-to-face conversations in 2020, with a slow recovery — how do agents adjust? The answer is to meet customers where they are - online.

    Insurance professionals likely view social media as a necessary evil, but social media can be a powerful sales tool, putting agents right in the path of their clients and prospects. It’s more than just posting content into a digital void; it’s taking what agents have done for decades to build their business and bringing it to life within the social media landscape. Consider this: GWI research suggests online consumers around the globe spend almost 2.5 hours scrolling through social sites daily.

    Putting energy into social media as a sales tool means attracting those eyes and winning more chances to interact with prospects and customers. But where do you start? Here are a few things to consider before leaning into social selling.

    1. Learn exactly what social selling is (and isn’t)

    Social selling is using social media to showcase thought leadership and industry expertise, build relationships and, ultimately, connect with new prospects while maintaining trust with existing ones. But a social selling strategy requires much more than having a Twitter account; it requires the same attention as any sales methods do. It’s taking social beyond simply posting regularly. It’s using social as a connection point to identify life events and points of connection with your community. And the good news is, you should see the returns. LinkedIn’s Social Selling data notes that 78% of social sellers outshine their peers who aren’t using social media as a sales tool.

    1. Take stock of your social media accounts

    If you hope to capitalize on social selling, you must first take stock of your existing social media accounts and look for opportunities to strengthen your overall social presence.

    Whichever social channel mix you’ve decided is right for your business (it’s OK not to be on every social platform!), you always want to make sure your brand is consistent and robust across each channel. That sounds easy, but there are a few things to consider to ensure that your identity is clear and consistent:

    • Profile images: Whether it’s a professionally taken photo, a well-lit high-resolution image taken on a smartphone or your company logo, make sure your profile images reflect how you and your company look today. (For example: Don’t use your headshot from 15 years ago.)
    • Cover images: Facebook, LinkedIn and Twitter all have a space for a cover or background image. Be sure you have a cover image that is consistent with your brand and that you have the rights to use that image.
    • “About” sections: Today’s consumers use social media for information searches like they use Google, so your bios and “about” sections pages are more important than ever. Sections can vary across social channels, but your information should be accurate and reflect your business on each channel. Pay special attention to your business description, location information and hours of operation.

    Rather than jump right into the heavy stuff, it’s important to get these social media ducks in a row first.

    1. Make a plan for posting, engaging and amplifying.

    After your social accounts are up to speed, it’s important to have a plan. Regularly posting content is only the foundation of social selling, but it will help keep you top of mind with your followers and give you a place to interact with them. It also sets you up well when you’re ready to start putting money behind your posts with paid social advertising.

    Beyond posting, it’s important to keep an eye on those who interact with your posts. Comment back, connect with them or, better yet, give them a call. Social selling really comes to life when you can weave social into your everyday sales practices. Either way, prioritize social just as you would other crucial facets of your business. Post regularly and have a plan for responding and engaging with your existing and potential clients. Then turn those engagements into sales opportunities.

    1. Leverage your resources.

    You’re not the only one flexing your social selling muscles, so look to others – even insights from competitors - for help. A good way to begin is to look at the social accounts of others in and out of your sector. What are they writing about? What posts seem to engage followers? How are they branding themselves to be trustworthy experts? Use the information you gather to help you plan your own social selling and content strategy.

    The question shouldn’t be if you should start social selling, it’s when. Your existing and potential clients are there, waiting for you. You only must give social selling the time and energy it deserves. As someone in a profession built around risk, you’ll find that social selling is a safe bet.

    This article was originally published in Insurance Newsnet.

    Mortgage professionals know: the industry is undergoing digital transformation, and it’s more important than ever for lenders to have access to the latest financial technology tools. Here at Denim Social, we want to empower mortgage marketers and loan officers with social selling resources that will help pave their way into a bright and people-centric future. To stay ahead of the curve, our team attended the National Mortgage News Digital Mortgage Conference to connect with our mortgage colleagues and learn more about how we can successfully guide customer social media strategies.  

    We learned a lot, but here were my three top takeaways: 

    1. Technology solutions are helping institutions better serve customers. 

    Mortgage companies, banks, and credit unions are transforming how they interact with consumers. Technology is helping marketers learn more about consumers, so that lenders can provide the right product at the right time and decrease the time it takes to close a loan. This is drastically reducing the friction for the consumer, because it’s now as easy as clicking a button to connect with a loan officer and go through the entire approval process. 

    1. The home buying process looks different than it used to. 

    Leaders in mortgage are recognizing that the next generation of homebuyers want and expect the buying process to be different from beginning to end. Today’s buyers expect that information will be readily available online and on social media, and communications between involved parties will be instantaneous and casual. Having a strong online presence signals trust and credibility that is needed for customers to feel confident in their decisions. 

    1. Appearances matter, and it’s essential to look the part. 

    Sure, it’s important to have a strong back office system and process in place so that the mortgage business runs smoothly, efficiently, and dependably. However, now that the boom of the last couple of years is coming to a close, it’s time for many lenders to refocus that effort into the front office. Time, effort, and budget must be allocated to making a good impression and catering strategies to meet customers where they already are and on their terms.  It’s a big shift from the old ways of doing things, but loan officers who commit to social selling and create a strong social presence will come out ahead of those reluctant to make the shift. 

    The bright side of these industry transformations is that now financial institutions will have more opportunities than ever to grow their brands and personalize their approach to customer interactions and sales. Loan officers especially have more resources than ever to interact with their communities. Social media is the perfect way to stay top of mind, and tools like Denim Social are here to support mortgage lenders, banks, and other services seeking to strengthen their social selling capabilities.

    If you are posting the same content on every social media network, you might be missing out on key engagement opportunities for your social selling strategy. What gets the most attention and engagement on Facebook, Instagram, Twitter, or LinkedIn isn’t universal, and financial marketers would be wise to seek a more nuanced strategy than just casting a wide net and hoping for the best. While there are general best practices to posting on social, making just a few distinctions to how you approach each of your networks can help you beat the dreaded social media algorithms and build credibility and expertise at the brand and individual producer levels. Let’s take a look at each network and how banks, wealth management firms, insurance agencies, and mortgage lenders can customize their strategies to the unique needs of each network to achieve growth and success. 

    Facebook: This is what you should know about our financial institution. 

    Despite the emergence of new networks and the inevitable departure of Gen Z and Millennials, Facebook is still the most popular social media network, and it’s a non-negotiable for any business. For community banks and other smaller financial businesses, it is the perfect medium to connect with local communities. This network will be one of the first places many customers look for a business, so having updated and branded profile information is essential. It’s ideal for sharing important dates or events, announcements, or anything customers need to be in the know about. Utilize brand pages for general information, and allow your agents, advisors, or employees to curate more personalized content on their individual business pages. 

    How To Succeed:

    • Share a wide variety of content geared towards informing and connecting with audiences
    • Post content related to the local community and partnerships with other business or organizations
    • Take advantage of user-generated content to build and maintain relationships with customers at the brand and producer levels

    Twitter: Talking about our #financialinstitution. 

    Sometimes Twitter seems like a mystery with its unique format, hashtag content, and 280-character limit. Like any other network, customers and prospects will consult a company’s account to find information they need to know; but more importantly, Twitter is a network people go to in order to hear news and opinions - and share their own. It is primarily a resource for sharing thought leadership and staying informed about industry updates. To be set up for success, brands and producers should follow relevant accounts like competitors, local businesses, and industry leaders. Hashtags are a useful way to learn about the broader conversations happening- plus, they provide insight into the hashtags marketers should be incorporating as well. Like any other network, brands engaging in social selling will enjoy the benefit of more engagement and awareness opportunities. 

    How To Succeed:

    • Prioritize engaging in existing conversations, rather than creating original content
    • Retweet relevant information for your customers and your brand, and utilize the mention function to increase visibility
    • Follow and use hashtags related to your industry to stay connected to current events and other thought leaders

    LinkedIn: This is what our financial institution wants you to know, and why.

    Branded as the professional social network, LinkedIn is perhaps the most important place for financial services brands and employees to be when it comes to social selling. This is a great way for brands to grow their reach by tapping into the power of user connections through sharing thought leadership and need-to-know information regarding their industry. Plus, authenticity is increasingly important on LinkedIn, with customers preferring to interact with brands that seem more relatable. Marketers and individual producers can use LinkedIn to share those values and insights into company culture that make people feel connected: photos, videos, and important awards or achievements can help boost engagement and brand awareness. With the power of a brand page combined with employee advocacy through social selling, LinkedIn should be a main focal point for any financial institution. 

    How To Succeed:

    • Share images of community and in-person interactions and events with context on what it means to your business
    • Follow local businesses from your actual business page (such as: local library, schools, industry competitors, local figures) and engage with their posts from your business page
    • Share high-performing posts from industry thought leaders and other local businesses; this boosts their engagement and gets visibility for both of you

    Instagram: Here’s a photo or video of what our financial institution values. 

    As a highly popular and visually-appealing social media network, Instagram is ideal for demonstrating a more human side to any financial brand, which is especially important for connecting with younger customers. This network is meant to be fun and entertaining for followers, while also staying on brand for financial companies and still informative. Of all the networks, Instagram is going to be the easiest way to reach younger audiences and get creative with content. For brands engaging in social selling, it’s a fun way to give producers a chance to show their personality and connect with customers on a more casual level. Instagram is also very dynamic and visual: the Reels and Stories functions provide alternative ways to share and engage quickly with video, which provides more opportunities to get in front of audiences within the platform than image posts alone.

    How To Succeed:

    • Post images from community or in-person interactions; share important posts to brand and producer Stories, then save to Highlights
    • Use emojis in copy and keep text light and fun; it’s all about the visuals on this network
    • Follow other businesses/industry thought leaders; engage with their content and share posts to your own stories

    While every network has its own charms and best practices, there are a few overall things to keep in mind when launching a social selling program: stay authentic and non-salesy; keep compliance matters in mind; know how to maintain a balanced and informed feed; and finally, don’t forget that paid advertising can boost organic efforts on any network. Knowing what to post on each social media network can be overwhelming, but understanding the best way to approach social selling at the brand and individual levels on Facebook, Instagram, Twitter, and LinkedIn will translate to more engagement, better brand awareness, and increased trust from industry leaders and customers. With a little fine-tuning and support for your team, you can see the difference a network-based content approach can make for your financial institution. 

    In today’s origination and refi environment, most mortgage loan officers are finding it’s no longer fish in a barrel. That means every loan officer needs to consider their competitive edge. And when bargain-basement rates are no longer the decision driver for prospects, relationships matter more than ever.

    Everyone knows a successful sales strategy is focused on building long-term, trusted relationships, but today, that means building relationships online. Social media has long been regarded as a brand builder, but the real power of social is using it as a sales tool. It’s called social selling and it works.

    Social selling is just what it sounds like: using social media to sell a product or service. It’s leveraging social to build personal relationships, showcase thought leadership, engage with prospects, interact with existing customers, and ultimately build trust and rapport that will eventually lead to deals.

    An active social selling strategy can not only help build ongoing relationships, but keep you top of mind with contacts when opportunities open up – and in this rate environment, that can be short-lived.

    Social selling requires continual care and management, but it’s worth the investment of time, and effort when you’re using social to drive business results. A daily social selling routine helps loan officers in so many ways and managing a program doesn’t have to be overwhelming. Here’s where to start:

    Optimize Your Profile

    Before you even get to posting, it’s important to take a look at your profiles to ensure your brand is consistent across channels. Ensure you have a current and easily recognizable profile picture. If you haven’t already, upload a cover image and update the about section to be your descriptions, location and hours are current.

    Post Meaningful and Relevant Content

    It’s not only important for you to be posting regularly, you need to be posting with purpose. Your social profiles should be an extension of who you are in real life. Authenticity always wins in social media.

    There is no magic formula for how often you should post, but consistency is key. Successful social selling programs offer a variety of organic content. The mix looks different for every loan officer, but commonly a healthy and informed mix includes brand, industry and most importantly, personal/community content.

    Interact with the Community

    Social media is a two-way conversation and that means you need to be interacting with followers. In other words, don’t post and ghost. Social selling is about listening, responding and engaging. It’s a conversation, so you should be promptly responding to comments and direct messages, showing connections that their inquiries and concerns matter.

    When every deal matters, so does every relationship. If you’re looking to build trust and connection with customers and prospects alike, make sure your profiles are up to date, post regularly and interact with your followers. A social selling strategy can help you make the most of social media opportunities in a competitive environment.

    This article was originally published in MBA Newslink.

    The insurance industry is built on — and amazing at! — assessing risk. But the industry’s risk aversion has put insurance marketers between a rock and a hard place. On the one hand, modern customer expectations mean agents need to leverage their relationship-building skills to gain ground online. On the other, unfamiliarity and fears about compliance are driving slow social selling adoption across the industry. While the concept may seem novel to some insurance leaders, that doesn't mean their competition is standing on the sidelines. After all, rival carriers aren’t twiddling their thumbs; many are jumping headfirst into social selling strategies and generating the new business to show for it.

    The good news is that adopting social selling doesn’t mean the industry has to reinvent the wheel. Rather, it should feel natural because this kind of digital communication is simply an extension of what agents are already doing. Instead of viewing digital marketing and social selling as an entirely new strategy, remember that it’s built on the same bread-and-butter relationship skills that trusted insurance advisors have always used with their customers. Insurance leaders must acknowledge social media as a sales channel, just like cold calling and in-person meetings, and must integrate social selling into the fabric of their organizations.

    How to Advocate for Social Selling

    Social media isn’t going anywhere. It’s where consumers are interacting with each other, looking for advice, and learning new things. This means intermediaries have to be there, too. Insurance agents need to reach their clients and prospects alike on social media, and the carriers and agencies they’re part of can help.

    With this in mind, insurance marketers and leaders must advocate for social selling throughout the organization. And everyone has a role to play. While marketers will stay busy coordinating paid ad campaigns to reach new target audiences and managing the branded social media, agents and other representatives of the brand must be on board as well: They need to be posting, liking, and replying to build relationships and bring a human touch to the broader social media strategy. Getting this buy-in means bridging the gap between sales and marketing — and educating them on why social selling works. If you're ready to sell-in social selling, here are four ways to get started:

    1. Get Everybody on the Same Page

    While some marketers may already be comfortable with the concept, social selling is still a recent marketing innovation for the insurance industry. Marketers need to get up to speed on strategy and execution, while also educating the organization (especially intermediaries — have we mentioned how important they are?).

    Start by defining social selling. This is our shorthand definition:

    Social selling is using social media to sell a product or service. It’s using social to:

    · Showcase thought leadership

    · Engage with potential customers

    · Interact with existing customers

    · Build trust and relationships

    Sounds pretty straightforward, right? While the execution can be trickier — think balancing paid and organic advertising, tracking analytics to calculate ROI, and overseeing the social media accounts of all the intermediaries — starting simple helps ease everyone into the process. This is especially important for advisors with limited social media experience. Lead with empathy to help them adjust to the new face of insurance marketing.

    2. Speak Their Language — With Stats to Back You Up

    Intermediaries want to build relationships and drive results — and social selling can help them do it — but only if they understand its potential. Highlight the value social selling has for both the company and individual intermediaries. Thankfully, this is one of the easier parts of selling social selling: The stats can do all the heavy lifting.

    Gather good information from trustworthy sources. If you’re going to be persuasive, you have to paint the picture of what social selling can do. Some of our favorite data comes from LinkedIn. Sales reps scoring higher on LinkedIn’s Social Selling Index experience:

    · 45% more sales opportunities

    · 51% higher likelihood to hit quotas

    · 78% outselling peers who don’t use social media

    And don’t be afraid to share the success you’ve had with brand social media, too. Brand social media and intermediary social selling, paid social ads, and organic social media content: All of these are chapters in the greater narrative of successful digital marketing strategies.

    3. Seriously, Bring Up the Data

    Raw numbers are well and good, but case studies marry data and narrative in a uniquely compelling way. Countless other industries have had success with social selling, and insurance needs to pay attention. Share these stories about what social selling has accomplished for so many other businesses. The housing industry, for one, has been particularly astute with social selling in recent years, especially when it comes to mortgage lending.

    In addition to formal case studies, bring the concept to life with experiences anyone can understand or has likely seen in their personal social media feeds. Local real estate agents are great examples of an industry that’s exemplary at utilizing social selling tools. Instead of starting from scratch, look to adjacent regulated industries to guide the way.

    4. Create a Culture of Q&As

    Don’t assume leaders know that social media is a sales channel — but also, don’t talk down to them when explaining the state of digital marketing. This means creating safe spaces where pros can ask questions (and not feel silly). Have a coffee; grab lunch. Give someone permission to be vulnerable and learn. Their aversion is likely rooted in misunderstanding. And remember, more experienced professionals may never have used social media for anything other than personal sharing. Empathy is your best friend. Walking alongside leaders and agents as they dip their feet into social selling will be so much more effective than talking down to them from the podium of knowledge. Building a strong foundation of understanding and a desire to learn will go a long way toward activating a social selling strategy.

    Social media marketing for insurance intermediaries may seem like a radical concept, but it’s more radical to not be using social as a sales tool. Sure, it may be new and feel risky, but educating the team and arming them with resources will make social selling feel not only prudent but necessary. To learn more about how social selling can help you reach your audience, request a demo today.

    3 Steps to Social Selling
    September 16, 2022

    What is social selling and how does your financial institution get started?

    Social selling is just what it sounds like: using social media to sell a product or service. It’s leveraging social to build personal relationships, showcase thought leadership, engage with prospects, interact with existing customers, and ultimately build trust and rapport that will eventually lead to sales.

    Social selling is the perfect crossroads of marketing and sales. It enables intermediaries – like loan officers, financial advisors and insurance agents – to add value to the customer journey where there wouldn’t otherwise be an opportunity.

    If you're wondering where to get started, check out Denim Social's latest infographic to learn more.

    Ready to learn more? Click here to meet with the Denim Social team.

    Connect & Convert on Social

    Successfully scale conversion optimized campaigns across all social media channels with built-in compliance, publishing tools, and more.
    Book a Demo

    Connect & Convert on Social

    Successfully scale conversion optimized campaigns across all social media channels with built-in compliance, publishing tools, and more.
    Book a Demo

    Connect & Convert on Social

    Successfully scale conversion optimized campaigns across all social media channels with built-in compliance, publishing tools, and more.
    Book a Demo