Updated: January 2023
Some of the most common questions we receive from newly onboarded fintech clients focus on social media for financial services:
- Do I need to be active on social media?
- How do I know what kind of content to share on my social channels?
- What platforms should I be using?
Talking about APIs, custom integrations, interest rates, and lending practices might get your heart beating a little faster, but it’s probably not getting the kind of traction you want to see on your social media channels.
In 2023, using social media is all about finding creative ways to connect with your audience through your content. But creating engaging content is easier said than done. This is why traditional financial services companies don’t have the best reputation on social media. However, it’s not too late to jump on the “fin-fluencer” bandwagon and produce some stellar content that drives audience engagement.
At CSTMR, we believe most financial services marketing, especially on social media, is a snoozefest. But don’t worry, today we are going to help you spice things up as we take a look at some compelling social media content ideas for fintechs.
Let’s dive in!
First Things First, What Is Social Media Marketing?
Social media marketing is really just a fancy term for using social channels to promote your products or services. This is what makes it so exciting: social media marketing can be anything you want it to be (and anything your audience wants!)
Videos. Memes. Reels. Posts. Photos.
It’s essential to cultivate a distinct voice in whatever format you choose. Are you educational? Witty? Sarcastic? Informational? Funny? The most successful companies on social media have a clearly defined voice.
When you first dive into social media marketing, you might feel overwhelmed by metrics. Reach (i.e., how many people see your content), clicks, likes, followers, reactions…
Want to know what really matters? Engagement.
Don’t worry so much about conversions when you are just getting started, your website will take care of those. When it comes to social media, you need to imagine it as a conversation starter.
The real success metric you should pay attention to is how many two-way conversations you’re having.
5 Benefits of Social Media Marketing for Fintech
Social media has tangible value for your fintech business. It’s an extension of your sales team, sharing who you are, what you do, and why your value prop matters with your target audience. Here are five reasons why you’ll want to take a closer look at your social media marketing this year.
1. Reach New Audiences
The global fintech market is forecasted to exceed $400 billion by 2027.
With new technology and innovation creating a more competitive landscape, how will you stand out in a crowded market? Social media has the potential to connect you with a prospective customer at every interaction. Remember, nearly five billion people are using social media networks. That means your audience IS on a social channel, somewhere out there.
Simply being present and active on social media gives you the opportunity to introduce your brand to a wider audience.
2. Build Trust and Showcase Your Brand
The very nature of fintech is personal.
Your customers likely have to provide sensitive information regarding income, bank statements, and other financial details. People are more wary than ever before of cybercrime and want to be sure they can trust any organization they do business with before they hand over their information. Trust drives new business, customer loyalty, and marketing receptiveness.
How do you overcome this initial lack of trust? Allow your potential customers to get to know you. Social media gives you an opportunity to build familiarity and foster a sense of transparency. Help them feel comfortable by discussing your security measures, how long you’ve been in business, etc.
3. Generate Leads and Boost Conversions
Social media can play an important role in your sales funnel and lead generation efforts, both directly and indirectly.
Your profile and posts offer potential customers a low-commitment way to interact with and express interest in your products/services. Followers will likely spend some time observing silently as they build trust, before fully engaging with your brand.
Social media also positions fintechs to collect leads directly from their audience, as many platforms now offer options for CTAs and lead forms for brand accounts. Consider aligning your fintech’s social media strategy with your lead generation strategy to appropriately nurture leads at different stages of the selling process.
4. Gain Industry and Audience Insights
What do people do on social media? They talk!
With every click and scroll, your audience is telling you something about their preferences and what they like. This is a data goldmine for your business. There is so much that you can learn about your audience from their activity on social media. Let their actions guide your content strategy and provide insights for your marketing efforts.
5. Humanize Your Brand
Whether your fintech focuses on B2B or B2C, you can’t forget to focus on the human element of engagement. Building authentic human connections is an important component of social media. Using social media is a way to put your company’s values on display.
Demonstrate consistency and transparency by showcasing how your product or service works, how other customers use it, and how you respond to challenges or questions.
10 Social Media Content Ideas for Fintech
“But my industry vertical is rather dull! How can I make my fintech POP on social media??
This is what we are here for! We are pros at helping fintech companies figure out what kind of content they should post to make followers stop mid-scroll.
Here are ten social media content ideas for fintechs.
1. Tutorials or Quick Tips
Do you offer a complicated platform or service?
Some quick tips or user tutorials will be great for engagement and keep followers returning for more. Tips for existing customers is a good strategy as it not only helps your current client base, but also showcases and teases what you offer to prospective customers. In fintech, sharing some quick financial tips with the use of carefully curated hashtags is a great way to raise your impressions and engagement.
Example: Give an introduction to your platform/service and show potential users what it’s like once they become a customer or client. Try making a video with a one-minute tip of the day or a product shortcut.
2. Scan Your Messages for New Ideas
Your DMs and comments can be a gold mine for future content. Chances are, you’re being asked questions that others are wondering about as well. If appropriate, answer publicly. This is a great way to not only curate content but also gain valuable customer insights. Positive feedback always works for a quick quote and share.
Example: If you know that your customers struggle with a particular aspect of using your product (because they’re emailing or sending messages!), do a video post or a step-by-step graphic with snapshots. Remember, showing is always better than telling!
3. Leverage Customer Testimonials
Everyone loves a good story. You can celebrate a happy client and highlight a good project by having your customers share their experience, which you can, in turn, share on your own social channels.
Doing this humanizes your brand while also showcasing your success. Your customers value this transparency. One study found that more than half of consumers (53%) are likely to consider brands that are transparent on social media for their next purchase. However, a lack of transparency on social leaves 86% of people likely to take their business to a competitor.
If you are featuring a customer, be sure to tag all of their social account names when sharing on your own channels (this will help drive engagement). If you are featuring them, they may push it out and share it with their own followers.
Example: Did a customer share an incredible stat or fact about how your product or service impacted your business? Highlight it in a post as a quote and share the review or testimonial!
4. Recycle Old Content
Not everyone sees your content when you post, and you’re always gaining new followers. When you have something of value to share, it’s worth re-posting it. The old wives’ tale that content has to be “fresh” just isn’t true anymore. If you have something relevant to say due to a recent news piece or based on the time of year, by all means, re-share.
Example: If you’ve got a top-performing blog that you have shared before, take a new quote from the same blog and post it again.
5. Don’t Forget Hashtag Holidays
Don’t be shy about jumping on the hashtag holiday bandwagon. It’s a perfect way to be seen by a greater audience. We love this extensive list of Social Media Holidays from Hubspot for ideas. Pick something relevant to your brand, but remember to have fun with it.
Puppy Day? Awkward Moment Day? National Donut Day?
You might be surprised by what resonates with your audience. Check out CSTMR’s social channels to see some of the fintech-related hashtags we like to use.
Example: Check out this post from AccessOne for Valentine’s Day this year. It’s not a Valentine’s Day post, but they figured out how to relate to the holiday with their payment platform.
6. Keep Tabs on Your Competitors
There’s nothing wrong with doing a little research and seeing what competitors and others are doing online in your industry. A quick quarterly analysis of what they are doing can help inspire you to see what kind of content might resonate with your audience. Pay attention to what content formats perform the best, and don’t forget to check the comments to gain insights into their audience reactions.
Example: Do the followers for one competitor have a common issue? Address how your product or services handles this in one of your next posts.
7. Create an Ongoing Series
You may have seen #MarketingMonday online before.
What does your company do? Are you a lender? How about a weekly series about different loan products? Are you an investment firm? You could run a weekly series defining the advantages of different types of investments. Whatever your genre is, search for a common theme and talk about it each week. Consider creating your own hashtag. It gives you something to aim for and helps to educate your followers.
Example: Turn your company’s value proposition into a series! Serve small businesses? #SmallBusinessSaturday doesn’t just have to be a hashtag for November. Do you teach people how to invest? #FridayFinancialTip could be the next big thing.
8. Feature Your Employees
Social media is all about connections.
Showing that the people who work for your company are real will help to foster that personal connection. It’s also a way to authentically share your company’s values and culture by allowing your audience a peek behind the curtain. Think about what makes your company stand out. Do you offer flexible work hours? Have a high percentage of women in leadership positions? Celebrate promotions, work retreats, and new hires on your social channels.
Example: Do a social media takeover! Hand over the reins for the day to an employee and let them post about their position and what it’s like to work at your organization. You could even do a “day in the life” sort of post on a rotating basis so people can learn more about what your company does.
9. Team Up with a Partner Brand
Who are your partners?
Does another company supply you with a critical piece of technology or an integration? Team up with them for a co-branded piece of content! Each of you will get exposure to one another’s audience as you double-dip the engagement. Make sure you choose a partner on the same playing field as you with a similar target audience.
Example: Create a co-branded graphic explaining the relationship between you and a chosen provider. Be sure to highlight how it benefits your audience.
10. Host an AMA (Ask Me Anything)
What better way to cultivate transparency than to give your audience the floor? You can do this on any platform by going live or just answering questions via posts and comments for the day. The AMA concept is a great way to showcase your expertise as an organization while also generating some interesting user insights.
Example: Generate some interest ahead of time and tease your AMA! Set a specific time and date for questions, and introduce the person who will be hosting.
Social Media for Fintechs: CSTMR’s Approach
Social media isn’t just for selling. Remember the 80/20 rule: 80% of your content should be informational and educational, and only 20% is promotion.
Informational and educational content for fintechs doesn’t have to be boring! At CSTMR, step #1 in our approach to social media marketing is intimately understanding your audience. Who are they? Where are they? What do they want to see? Only with the answers to these questions will you be ready to produce content that truly resonates with them.
Need some help to get you started? We’re on it. We can build out your social media strategy as we produce content driven by your brand’s unique value proposition. We know fintech because we were built by industry veterans, and we are ready to help you succeed.
Schedule a free consultation with our CEO, Rory, to learn about our content and social offerings for fintech and financial services.