Like many community banks, Dart Bank wanted to keep customer relationships a top priority. This meant being more available to customers and meeting them where they are. In modern terms, that means on social media. 

When Dart Bank learned about how Denim Social supports social selling for loan officers, they knew it was the perfect fit to keep their team engaged at every step of the journey. They wanted to empower their loan officers to create and grow authentic relationships online, never missing an opportunity to connect. 

“Everyone wants a quick response, they want to be communicated with in the way they want it…speed and availability demands have created challenges that they have to be able to be everything to the customer in the way that they want it.” - Bryan Clarke, SVP

With Denim Social, Dart Bank launched a formal social selling program for over 50 loan officers in just a few months. Dart Bank started by posting on behalf of their loan officers. Through regular training and education combined with access to compliant content libraries, loan officers have gained the confidence to start posting to their own pages. It was important for Dart Bank to build a strong foundation and enable their team to make social media more personalized. 

See how they helped strengthen customer relationships in this Case Study.

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Where Are the Biggest Opportunities to Use Social Media in Financial Services?

Denim Social's Guide To Social Selling For Financial Services shows that most financial professionals — 83% of those surveyed — have a social media presence. It’s a great place to start, but having a profile is only the tip of the iceberg when it comes to what benefits financial institutions can enjoy from social media. Smart financial marketers and their teams should be optimizing their social selling efforts on every network to get the most out of what social media has to offer.

Customers are active in many other places online, so why not meet them there? After all, 79% of people look to social media for financial advice. By meeting customers where they are on the main 4 networks, financial institutions can stay top of mind and grow real, authentic connections. Let’s dive into what Instagram, LinkedIn, Twitter, and Facebook have to offer and how financial services marketers can best use each platform.

1. Instagram

As far as major social media platforms in financial services go, Instagram tops the list. While many financial professionals might not at first think of the photographic and visual network as prime business territory, its popularity makes it an excellent place to strengthen real relationships. 

Instagram is one of the best ways to get in front of younger audiences, which is a worthwhile goal, considering that many Millennial customers will likely be on the search for new financial services providers as Baby Boomers pass their wealth on to the next generations. What's more, 90% of Instagram users follow at least one business account and 80% use the platform to discover new products.

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Even better, getting started on Instagram is a breeze. Instagram ads also allow hyperlinks, so you can lead readers right from their feeds to your website with specific calls to action to learn more. Lead them to a personalized and well-designed landing page on your site, for instance, and you'll be drawing each follower who clicks through one big step closer to conversion.

2. LinkedIn

The majority of financial services providers already use LinkedIn, and there are many ways to make it perhaps the most successful social selling platform out of all the networks. Employees at institutions of all sizes and financial industries can use this professional network to cultivate thought leadership and educate their customers.

For financial services marketers, a brand profile is a necessary starting point. Getting the most out of the platform, however, requires activating your employees in a social selling strategy. They can share relevant content, such as videos and published articles from trusted media outlets, as well as engage with customers and prospects one-on-one via direct messaging to establish themselves as experts and build trusting relationships. People want to engage with other people, not with general brand pages. It’s no wonder that employees on social media can garner 10x the engagement of brand pages alone.

3. Twitter

Like LinkedIn, Twitter is also a great place for agents, loan officers, and advisors to share their expertise. Understandably, financial services marketers might be intimidated by the fast-paced nature of the platform and fear they don’t have enough resources to keep up. However, with the proper social media management tools, maintaining compliant engagement on Twitter is totally possible — and worth it.

One of the greatest benefits of social media marketing for financial services is the ability to provide more value to customers. Twitter makes this incredibly easy to do. Marketers can follow all relevant news media outlets and keep an eye out for any articles that might benefit their clients or prospects. For example, an explainer piece on recent changes in tax legislation may be helpful come tax season. Retweeting such helpful resources educates followers on financial topics and builds trust in the brand and its employees.

There’s no single best social media platform for marketing. Each one has a unique opportunity to reach and engage current and future customers. If you’re already on social media, it’s time to level up your social media marketing strategy by diving into Instagram, LinkedIn, Twitter, and Facebook in more depth. No matter the size of your financial institution, extending your social media strategy to encompass these platforms can help grow your audience, build trust, and maintain solid customer relationships.

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Whether you love or loathe social media's infiltration into every element of our personal and professional lives, there's no denying that this powerful medium is never going away. Social networks are growing bigger and stronger by the day. Forward-thinking achievers in every industry understand this and have responded by leaning all the way into social selling.

For the unaware, social selling is using social media to sell a product or service by showcasing authenticity, strengthening relationships with clients and prospects, and building thought leadership. In social selling, advisors use their own social pages to promote content about their brand and services, but with a personal spin.

Everyone from dog groomers to financial advisors are utilizing multiple social networks to build a following and bolster their personal brands, and those who fully embrace social media's ubiquity outperform their competitors and win more business. It's as simple as that.

The key, though, is finding a way to stand out from the competition online. There's a big difference between "doing social media" and doing it well.

‍The difficulty with differentiation

As we all know, the internet is more than likely the first place individuals go to get advice these days — financial, familial, and absolutely everything in between. So when people go online to search for guidance on money matters, they won't find you if you aren't there, actively promoting your expertise and services.

There's no stronger business case for social media (and social selling) than that: It's where your potential customers are. Meet them there and give them what they need. If you don't, someone else will.

To set yourself apart as a financial advisor, you need to be able to sell yourself — not just your firm. Sure, many financial advisors are intermediated and you likely don't have free rein to post everything you might want to on social channels, but that shouldn't be a deal-breaker. There's still plenty to say without risking any backlash or drawing the ire of regulators.

Put your fears aside

Though some in the financial industry might feel wary or daunted by interacting directly with clients or prospects, online exchanges matter in today’s market. Brands that use a more generic social-media strategy can end up sounding too promotional, focused more on boosting the brand to a broad audience instead of forging real connections. Rather than creating original content that speaks to their particular audience, financial institutions treat these social channels as glorified billboards instead of networking opportunities for each individual advisor.

That’s too bad because there’s real power behind social selling today. When comparing the social media potential of brands vs. individuals, one study found that employees have 10 times the reach and double the engagement of the brands they speak for. The best sellers in large companies, meanwhile, were the ones who regularly used technology to foster connections with new prospects or existing clients. Building genuine relationships pays off for both advisors and brands.

So, how does someone improve their social-selling efforts? How can financial advisors use the power of their individuality to differentiate themselves from their peers? Here are five tips to help you better accomplish social selling on your personal pages:

1. Ask an expert

Even if you’re on board with tapping into the potential of authentic relationship-building through social selling, you still need the right tools and training for the job. After all, your area of expertise is in the valuable services you provide to your clients, not online marketing.

An excellent move for advisors is to seek advice from your firms’s marketing or branding team. Not only can they help you develop an effective social-selling strategy, but they can also provide you with the resources and tools you need to more effectively and efficiently create, plan, and schedule your posts. Compliance experts can also educate you on the rules that govern social media in the financial services industry. Ideally, your firm provides continuous training and tools to ensure you stay on the right side of regulations.

2. Be real

The type of posts that most people see on their social-media feeds are at least partially determined by an algorithm. These algorithms are generally designed to serve up content that users are most likely to engage with in one way or another. This can be a huge advantage, but it also means that you can’t expect to stay on people’s minds if you deliver bland, uninteresting content that isn't relevant to your audience.

That doesn’t mean you should go posting clickbait or try to shock people (there’s definitely such a thing as bad engagement). Instead, the best way to get and keep people’s attention is to be your real self. Post about what matters to you and do it in your own voice, not just copying/pasting brand posts. Post about local happenings that people in your area might care about. Speak to the challenges you hear clients ask about most. In social selling, authenticity is the fastest way to start building deeper and more lasting relationships.

3. Consistency is key

How much engagement your posts garner will often depend on when and how often you post. Not only does each channel (like Facebook or LinkedIn) tend to have different times when engagement is at its peak, but your specific audience may also have their own preferences. A little research here can go a long way.

Build a sustainable cadence and stay the course. Consistency is crucial. If you post more than once a day, make sure that each has a few hours to shine on its own. And if a post is getting a particularly high response rate, wait a while before potentially drowning it out with something new. Remember: Algorithms are looking for engagement, not frequency.

4. Mix it up

Another way to ensure better engagement (and a better response from the algorithm!) is to mix up the type of content you share. Your online presence should be a healthy medley of brand, industry, and personal and community content.

You will need to figure out what the right balance for your own audience is. Think about what they care about, the questions they ask when you work together, or specific local concerns. The bottom line in every case is to make sure you’re maintaining a variety of relevant content in your social selling strategy.

5. Give and take

Approach social media as a conversation, not a bullhorn. Social selling is about more than just getting engagement — it’s also about engaging with your audience in return. This give and take is how relationships are made and strengthened, whether they be prospects or clients you know and love.

Don’t just be reactive by responding only to comments or likes on your posts. Take time to respond to others’ posts as well, whether they’re customers or other thought leaders in the industry. This doesn’t always have to be through comments, either; a simple like can let people know you’re paying attention to what they have to say.

Social selling is a powerful tool that can help financial advisors bring in new prospects and keep old clients coming back for more advice through the power of relationship and trust building. However, in order to rise above the noise, you can’t lean on your — or your firm’s — reputation. Instead, you need to establish an authentic presence for yourself that showcases exactly what makes you the right person for the job.

Learn more by downloading our Social Selling Guidebook for Financial Institutions.

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When my father worked in insurance decades ago, he’d sit down with people at their kitchen tables and listen. He’d share. He’d build the relationship. And he’d sell.

Fast forward to the digital age, and authenticity still has just as much relevance, if not more. The only difference? Social media platforms replaced the kitchen table. Instead of coming to people’s front doors, agents are coming in through Facebook, LinkedIn, Instagram and Twitter. These exchanges are no less real to potential clients — and no less critical to the relationship-building model that succeeds time and again in the insurance industry.

Most intermediaries and their carriers know the importance of social media by now, while others might need more guidance around strategy and how to implement it at the agent level. Even new agents from digitally native generations can find the “hows” of fully leveraging social media confusing and intimidating.

Whether an agent is new to social or has been running personal accounts for years, it’s essential to use social media as more than a digital billboard. Instead, agents must use social media as a vehicle to take their relationship-building and thought leadership into the digital world. And most importantly, they must be authentic when doing it.

The advantages of being authentic in social

You establish an invaluable foundation of trust when you are human on social media. It’s no secret that trust remains essential in insurance; people who don’t trust a brand, an agent, or a product will go elsewhere. Competition is fierce, and today’s consumers don’t care about brand loyalty; they care about whether or not you can meet their needs. Trust is the glue that keeps a client or prospect from saying goodbye.

Many opportunities open up when agents use social media to get closer to your clients. For instance, a lead might mention a significant life moment on their social channel, like the birth of a child. If savvy agents follow and listen to the lead, they can drive meaningful connections with a friendly response, continually building the relationship. It’s not about closing a sale on a social post; it’s creating conditions that may eventually lead to an opportunity to present new insurance options that make sense for their new bundle of joy.

When interactions like this are genuine and timely, they can lead to more business and even stronger ties between agents and clients.

A final benefit of deepening relationships on social media is that you humanize your brand. Every agent should focus on showcasing their authentic personality, whether underneath a carrier banner or not. Agents whose followers see them as “the local expert” or “a trusted friend” set themselves up to become go-to resources that prospects will consult when they have insurance-related concerns. Authenticity builds relationships, which will help you connect with more of your customer base.

Get started with social selling

Social selling is essentially what it sounds like: Using social media to build credibility, thought leadership and trust, which help to sell a product or service. This savvy marketing strategy enables intermediaries — such as agents and brokers — to bring more value to the customer journey.

Individual content posted to social media is said to have 10 times the reach and drive double the engagement compared to content shared by brands. Consumers want to work with trusted individuals when making big decisions related to finances and insurance. As an agent, you need to be empowered to use social media in your sales mix; otherwise, you’re leaving opportunities on the table.

So, how do you seize these opportunities? Start here…

No. 1: See yourself as an influencer.

In 2023, everyone’s heard of social-media influencers. These ambassadors use their personal talents and creativity to build loyal followings and offer sway and endorsement to brands. To get in the right mindset, you should try to see yourself as a micro-influencer for your community. This perspective can help you grow your following and prioritize your engagement strategy (think commenting, replying and liking posts).

Consumers are turning their backs on traditional advertising. They’re not turning their backs on influencers, however, especially when they’re local. In fact, micro-influencers have been found to have even higher follower engagement than their macro counterparts. Fewer followers mean more time to interact with each one, leading to stronger relationships. Some even see them as the voice of reason and truth. Agents who adopt practices that get creative, showcase their personalities, offer value and aim to solve followers’ problems will quickly find a loyal, influencer-like audience.

No. 2: Get personal.

Plenty of agents live and work in the neighborhoods they serve. This allows you to craft locally specific posts that are relevant to prospects and clients but not overtly promotional or self-serving. It’s OK to talk about statistics, sales or promotions occasionally, but you will find more success in the community by sharing content relevant to where you work and live.

This could mean anything from giving a quick shout-out to a favorite small-business coffee shop to discussing how a product helped a client. (Always following all regulations, of course.) Putting a regional flavor and human face on social media content reinforces that you’re an actual person, not just an automated bot posting pseudo-advertisements at pre-arranged intervals.

No. 3: Aim to educate.

As an insurance agent, you are selling a promise to consumers. A promise that many people can find confusing. Many consumers are also unaware of the life milestones that should trigger a new insurance decision.

Using social media to demystify insurance and educate on these milestones not only highlights your expertise but puts this valuable information in the path of the consumer, who is likely starting their buying journey with self-guided research online.

Social media can have the same intimate, relationship-boosting effect on agents and consumers as the kitchen table once did. Luckily, the secret to making social selling work isn’t all that different: Focus on authentic, genuine relationships, and you’ll find your following.

Want to understand how it works in real time? See how Shelter Insurance® found success with social selling in this case study.

This article was originally published in PropertyCasualty360.

Digital transformation means that social media has become an integral part of everyday life.  It has changed the way we communicate and connect with others, and it has also transformed the way financial professionals operate. Loan officers, insurance agents, and financial advisors will find that social media networks like LinkedIn have immense potential in terms of building connections, establishing thought leadership in the industry, and supporting their business. 

LinkedIn has quickly become a need for financial professionals: in fact, 9 out of 10 financial advisors are currently using LinkedIn for their business, and other industries can show similar numbers, too. To leverage the full potential of LinkedIn, intermediaries should create a strong social media content and post strategy. Here’s how to get started:

Define Your Target Audience

Before creating any content or posting anything on LinkedIn, it is essential to define the right target audience. By knowing this audience, it’s easier and more effective to craft content that resonates with them, and to also tailor any message to their needs and preferences. For the financial services industry, understanding clients and prospective clients is crucial to growing connections on social media.

Develop a Content Strategy

Once the target audience is identified, the next step is to develop a content strategy that aligns with business objectives. The content strategy should focus on creating value for the audience and positioning oneself as an expert in the financial industry, be it insurance, mortgage, banking, or wealth. It’s always helpful to create a mix of content, including articles, blog posts, infographics, videos, and podcasts, depending on current events and what the target audience would prefer.

Some themes to consider using in the content strategy are:

• Industry news and trends
• Tips and advice for financial planning and investments
• Case studies and success stories
• How-to guides and tutorials
• Thought leadership pieces on industry-specific topics

Optimize The LinkedIn Profile

A LinkedIn profile is the first thing that potential connections will see. Therefore, it is essential to optimize the profile to make a good impression and establish credibility. Some tips for making a LinkedIn profile stand out are:

• Use a professional headshot
• Write a compelling headline that reflects expertise
• Craft a well-written summary that highlights skills and experience
• Add relevant keywords to the profile to make it easier for people to find in search results
• Include media such as videos, infographics, and presentations to showcase work

Engage With Connections

LinkedIn is a social media platform, and like any other social network, engagement is key. Engaging with connections demonstrates real interest in building important relationships and sharing valuable insights. Some meaningful ways to engage with connections might include:

• React to and comment on posts
• Share posts with existing network
• Send personalized messages to build rapport and establish connections
• Participate in LinkedIn groups relevant to industry

Measure and Refine Your Strategy

Finally, it is crucial to measure any LinkedIn strategy's effectiveness and refine it over time. Using social media analytics is a smart way to track an audience's engagement with posted content, such as views, likes, shares, and comments. Based on this data, it’s simple to refine an existing strategy, identify what works and what doesn't, and adjust the tactics accordingly.

In conclusion, creating a social media content and post strategy for LinkedIn can help financial professionals build connections, establish thought leadership, and support their business. By defining the right target audience, developing a content strategy, optimizing the profile, engaging with connections, and measuring and refining the approach, anyone can leverage the full potential of LinkedIn and make social media a priority.

Ready to start building your social selling game plan? Check out this Social Selling Playbook for Financial Institutions.

There are plenty of AI skeptics out there, but there’s no doubt about it: these tools are here to stay! Marketers that don’t embrace the features of AI and how they can make your content work smarter, not harder, will fall behind those that don’t. There are many ways that AI can boost an institution’s social media strategy, and combined with other social selling tools, it can be an invaluable asset for your team. 

Running a social selling program is no easy feat, and one of the main challenges to overcome is giving users guidance and content to create their own engaging social media posts. That’s where AI comes in! It’s not about replacing people or taking away their voices: it’s about giving them assistance to do more with less. AI like Denim Social’s Social Sidekick take off the pressure of crafting the perfect message. That way, loan officers, insurance agents, and financial advisors can build a presence on social media without having to spend too much time on it (and so they can focus on their business!). 

If you’re hesitant to adopt AI in your social media strategy, consider these three ways that it can make your content stronger than ever. 

1. AI can help you start a post. The proverbial writers’ block: even the most seasoned marketers can experience it, and for those that aren’t trained in social media writing, it can be a serious issue when trying to convey a message. Oftentimes, social sellers know what they want to say, but aren’t sure how to say it or how to begin. AI should never replace authentic, human content, but it can give users something a launch pad for what they need to say. Having that initial push can open the door to future content success for inexperienced users, especially. 
2. AI can help you build a content library. For many institutions, a major key to social selling success is providing team members with guidance on what to post. If you are the administrator for your institution’s program, that’s a lot of pressure, time, and effort spent building up content to share with users. With AI, it’s much easier to increase the quantity of content without increasing any individual’s overall output. Having a more robust library means more social media posts going out and more access to valuable resources for brands and their users. 
3. AI can fine tune your messaging. Sometimes a post just isn’t quite right. Especially when complex subjects around financial services are up for discussion, getting the right tone and wording is hard to do. You want to be both educational and entertaining, so it’s always about striking the right balance with the message. It’s easy to be either too vague or too wordy. With AI, you can easily reword and regenerate a message to be more clear and concise if needed. Even better, you can be assured that your post is grammatically correct and formatted as needed. It’s perfect for social sellers that are just starting out or worried about posting the right way. 

Don’t let uncertainty about AI keep you from taking advantage of such a powerful and helpful tool. It can work wonders for institutions that are trying to drive user adoption, make the most of limited resources, or simply trying to boost their social media presence. There are many functions AI can serve, but most importantly, it can increase your social selling efficiency. Thanks to the Denim Social platform’s integrated AI compliance workflows, you can also control what’s being posted across all users and networks, too. 

Sign up for a demo today to learn more about how it works and what it can do for your institution. 

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