According to recent research, 92% marketers say that social media has helped their business gain exposure. There is no doubt that social media has become an important marketing tool for every sector of the market, including FinTech. If you aren’t harnessing the full potential of social media, you are missing out on a great opportunity to attract and engage your target audience.
So, how do you choose which social media platform works best for FinTech marketing? The best place to start is with the social networks that are the most active. Among these, which platforms does your target audience use the most? Each social media platform has its unique selling point. Here’s a look at the social media channels that you need to focus on especially for an effective FinTech marketing strategy.
Facebook is the world’s largest social media platform, with over 2 billion monthly active users. This network is used by people of all age groups, with the largest segment belonging to 25-34 years age group. It is a great platform for generating leads and target marketing of FinTech services. It is also a good choice of platform to engage with the customer and build relationships. According to research, over 70% of the users on Facebook have an annual income over $70,000 and have completed some or the other form of higher education, making them an ideal target for FinTech services.
Instagram offers a completely different means to promote your FinTech agency. It has over 700 million active users, who use this platform to access photos, videos and stories from friends, family, celebrities and even brands. Instagram is used by 59% of internet users aged 18 to 29 years and 33% of internet users aged 30 to 49 years. This platform offers an opportunity to use the most impactful form of content today – visual content. Instagram Stories and Instagram Live can help establish a human face for your FinTech brand. It also allows you to directly engage with users, enhancing your FinTech PR.
Twitter can help you position brand as a thought leader. By providing information and news regarding major announcements, analysis of market events and opinions, you add value for your target audience with your feed. A majority of the users on Twitter are below the age of 50, making it the optimal platform for FinTech. In fact, Twitter has become the go-to social media channel for participants in the financial markets, from companies that plan to launch an ICO to brokerages.
Twitter also provides targeted FinTech advertising options, with multiple formats for advertising, depending on your business and strategy. You can promote your Twitter account, which will then appear in the left column or a Tweet from your brand that will appear in the user’s feed. You can even start a trend to engage more users.
LinkedIn is a great option for FinTech digital marketing, given that this is considered a more professional platform. You can publish editorial content on this platform and establish your brand’s credibility and reputation as a leader or expert in the field of FinTech. The majority of active users on this platform are aged 30 to 49 years, comprising a key consumer segment for FinTech. Studies have demonstrated that around 80% of LinkedIn users want to engage with brands to improve their purchasing decisions. Around 50% of this user base is most likely to use the services of brands they engage with on the platform.
YouTube is the world’s second largest search engine, after Google. It has almost 2 billion active monthly users. While 400 hours of video are uploaded on this platform every minute of every day, more than 1 billion hours of YouTube videos are watched every day, which is more than Facebook and Netflix combined. The appeal of videos is undeniable. From interesting videos that evoke emotions to explainer videos, FinTech brands have multiple opportunities to connect with their target audience on this social platform.
Social media is one area that traditional financial institutions have failed to capitalise on. One pro tip to keep in mind is that each channel and the way people interact with it varies. Don’t make the mistake of always posting the same content across all your channels.
Your target audience loves to engage on social media, ensure that you are easily visible to your audience. The easiest way to achieve this is to hire the services of an experienced FinTech marketing agency, who can not only ensure the best FinTech website design for you but can engage with your target audience on the right channels.