Social media isn’t just for killing time anymore; it’s become a key player in how we connect every single day. According to recent estimates, in the U.S. alone, there are 246 million users as of 2023, meaning that 72.5% of Americans are on social media.

For the financial sector, social media is more than a trend; it’s a powerful tool to have communication and client engagement. A study done by the American Bankers Association showed that a staggering 88% of financial institutions are actively leveraging these platforms. In fact, advisors using social media successfully report an average of $1.9 million in assets gained through social media activities.


In this post, we’ll cover:
  • Social Media Platforms and What Works Best
  • Tips for Creating Engaging Social Media Content
  • 12 Social Media Content Ideas to Use at Your Branch
  • Partnering with Social Media Specialists

Navigating the Social Media Maze – Strategic Platforms For Financial Institutions

The social media world can be overwhelming. With so many platforms to choose from, it’s important to understand where to focus your efforts for maximum engagement. To help banks and credit unions make informed decisions, we’ve created a chart that reflects the current usage trends of various social media platforms within the industry. This will help give you a clearer picture of where your peers are thriving and where there are opportunities to stand out. Let's take a look at the platforms that are leading the charge in connecting with clients and enhancing the digital banking experience.

Social Media Platform Percentage of Banks Using What Content Works Best
Facebook 97% Videos and curated content are the top performers. Users engage more with visual storytelling and shared content that resonates with their interests.
LinkedIn 76% Professional content, including jobs, company news, and industry insights, performs best. LinkedIn’s audience looks for value-driven, career-related content.
X (Twitter) 59% News, blog posts, and GIFs see the highest engagement. X’s fast-paced nature makes it perfect for timely content and humorous or relatable animations.
Instagram 48% High-resolution photos, quotes, and Stories are the most engaging. Instagram’s visual-centric platform is ideal for eye-catching imagery and short, impactful messages.
YouTube 45% Short-form videos, especially those that are informative or entertaining, tend to do well. YouTube’s platform is geared towards engaging video content that captures attention quickly.
 
Did you know? Despite being used less in the financial sector, social media platforms like Instagram generate the most engagement.

Insights from the Chart

The chart conveys a narrative of strategic content placement and platform utilization by banks:

  • The overwhelming preference for Facebook suggests that banks value platforms with a broad demographic reach and versatile content capabilities. 

  • LinkedIn’s prominence highlights the industry’s focus on professional networking and business growth.
  • The notable presence on X/Twitter and Instagram indicates a strategic approach to engaging with clients through timely updates and visually appealing content.
  • YouTube’s usage reflects an investment in video marketing to provide informative and engaging content.
These trends suggest that banks are diversifying their social media strategies to cater to different audience segments and content consumption preferences, aiming to maximize their outreach and client engagement.

Essential Tips for Creating Engaging Social Media Content

Creating compelling content on social media for banks is about striking the right balance between informative and engaging material. Posts that offer financial advice or tips are a goldmine for engagement. Here are a few tips to help you create content that resonates with your audience :

  1. Align Your Voice: Ensure your social media voice is consistent with your bank’s character. Whether it’s professional, friendly, or a mix of both, it should reflect your institution’s values.

  2. Engage with Visuals: Create effective visuals for every post. Posts with images see 2.3 times more engagement than those without.
  3. Leverage Video Content: Integrate basic finance tips into shareable videos. Video posts have 48% higher views.
  4. Celebrate Milestones: Share your bank’s achievements and milestones. This humanizes your brand and fosters a sense of community.
  5. Content Variety: Diversify your content to include how-to guides, expert tips, interviews, industry news, and client stories. This variety can start conversations and build relationships.
  6. Compliance and Security: Always follow financial regulations on social media carefully to keep trust and security intact.
  7. Monitor and Adapt: Keep an eye on engagement metrics and be ready to adapt your strategy. Banks that actively manage their online presence see a 19% lift in customer retention.

12 Social Media Content Ideas to Use at Your Branch

  1. Financial Health Checklists: Create posts with checklists for different financial goals, such as saving for retirement or buying a home. These can be interactive and encourage followers to engage by checking off their own progress.
  2. Investment Explainers: Use infographics to break down complex investment concepts, like mutual funds or stock market trends, making them accessible and shareable.
  3. Tax Season Tips: Offer timely advice during tax season, such as how to maximize returns or understand tax credits, which can be highly valuable to your audience.
  4. Budgeting Best Practices: Share budgeting templates or best practices that help followers manage their finances more effectively.
  5. Financial Product Spotlights: Highlight the benefits of specific financial products, such as high-yield savings accounts or reward credit cards, with real-world examples.
  6. Client Success Stories: Feature stories of how your services have positively impacted clients, focusing on specific financial milestones they’ve achieved. For example, feature a couple that was able to purchase their dream home thanks to your home loan offerings!
  7. Economic Updates: Provide concise, easy-to-understand updates on economic conditions and how they might affect personal finance.
  8. Live Q&A Sessions: Host live sessions where financial experts answer follower questions, providing a platform for real-time engagement and support. The best part? You can do this virtually, reaching a broader audience and saving the time and money that would be needed for an in-person event.
  9. Financial Myth Busting: Create a series that debunks common financial myths, providing followers with accurate information and dispelling misconceptions.
  10. Behind-the-Scenes Content: Give followers a glimpse into your company culture and the people behind the brand, which can humanize your institution and build trust. For example, write a social post so followers can ‘Meet Your Local Lender’ and include your lending teams’ bios and photos. If your team is comfortable with it, you can tag them in it and have them share it on their socials, prompting more engagement.
  11. Interactive Polls and Quizzes: Engage your audience with polls about financial habits or quizzes that test their financial knowledge, encouraging interaction and learning.
  12. Celebratory Posts: Acknowledge national holidays, awareness days, or milestones related to finance, such as National Savings Day, to connect with broader themes and trends.

By following these tips and keeping abreast of the latest social media trends, banks can create a compelling online presence that engages clients and builds lasting relationships.

Partner with a Social Media Specialist

If you’re looking to enhance your social media strategy and need expert guidance, reach out to a social media marketing specialist at forbinfi. Our team is equipped with the knowledge and tools to help you navigate the social media maze and achieve your marketing goals. Contact us today to start your journey towards a more engaging and visible brand on social media.

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