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Facebook Marketing for Banks & Credit Unions: What You Need to Know

A lot has changed in social media marketing over the last five years, but Facebook - the original social media king - still remains one of the most effective ways to reach financial customers. In fact, according to The Financial Brand, nine out of 10 financial institutions currently use Facebook as part of their marketing strategy.

Below are three tips to keep in mind as you look to maximize your bank’s Facebook presence:

1. Ensure Your Facebook Page Looks and Sounds Like You

Because your company Facebook page is one of the first places prospective customers will go to learn more about you, it’s important that the look and feel accurately reflects your brand. This includes the imagery you choose, the way you describe your company and services, and the messages you share. All of these components should point back to your corporate values and key differentiators in the marketplace.

2. Use Targeted Ads Advantageously

Another key benefit of incorporating Facebook into your marketing strategy is the ability to target specific, viable customers. Promoted content on Facebook generates 21 times more interactions per post than non-promoted content. There’s a reason promoted content works: it is shared with relevant audiences who are more likely to have a real interest in the information than just the individuals who follow your page. Buffersocial found that banks and credit unions can reach 89 percent of their target audiences through social media, as compared to 38 percent with other digital targeting tactics. If promoted content is new for you, start out with a small campaign and work your way up. That way, you have little to lose as you figure out what works for your brand.

3. Be a Strategic Content Curator

Not only is content creation crucial for a bank or credit union’s Facebook marketing strategy, but so is content curation. This means identifying financial trends you want to align with and posting relevant content generated by other reputable organizations or news sites. As you plan your content calendar, remember to be selective with the topics you focus on. According to Unmetric, since Q2 2014, financial institutions have decreased the amount of content they post to social media by 44 percent. They have learned that content frequency is not as important as content strategy. Stick with a few themes so you don’t oversaturate your audience.

Keeping Facebook in Your Social Media Toolkit

Facebook is a powerful tool banks and credit unions have at their disposal. It offers a variety of opportunities to get in front of prospective customers, so it’s worth exploring how you can refine and expand your presence on this platform. For more tips on how to use social media in your marketing strategy, check out 10.5 Steps to Power Up Sales with LinkedIn.