Financial Social Media: What Are You Afraid Of?

The answer to the question posed in the title: the regulatory authorities such as the SEC and FINRA

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If you are in the financial services industry, utilizing social media isnt just an option. Its a necessity. Its an opportunity to communicate with hundreds of clients, and thousands, if not millions of potential customers, in seconds. Financial social media hasnt been prevalent in the past, with interactions between clients typically limited to pre-approved messages and the like.

Face it, things have changed since the rules were first written. Todays client is mobile and has a myriad of devices at this disposal to remain in touch. In this era of texting, tweeting and Facebook status updates, financial social media is now considered the number one Internet activity and will only increase as the ease of use and penetration of mobile web usage grows. Financial social media can take advantage through branded profiles, conversation activity on Twitter and even posting financial services social media videos on a dedicated channel on YouTube.

Financial social media and video are great ways to differentiate your brand and promote your client results, commercials or coverage of an associated event or sponsorship. Financial Social Media strategies can include tweeting about industry news, spreading your successes through links, announcing your own brand news on your corporate website and perhaps most effectively, simply communicating and adding to the conversation with customers and newsmakers.

Additionally, a financial social media strategy can extend towards customer service. Clients can feel part of your community through the development of financial social media communities on private networks custom built for your brand or developing a community on existing social media networks like Facebook.

In addition to distributing information, financial social media is a great tool for recruitment strategies. Appealing to bright young minds of finance is as simple as using financial social media to promote internship programs or spread news about recruitment events.

Utilize the growing presence of mobile web by developing a financial social media application that lets users access their accounts and reports right from their phone. Financial social media strategies should also consider the power of networking. If your company isnt on LinkedIn, it should be. Get connected to your clients and other connected potential clients will notice.

by: Kevin Waddel

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