Though financial service brands may not naturally have the same social appeal as other brands in other industries – like retail – you can still win on social media. The key for you is to ensure the data you collect is timely and accurate – and then used well to connect to your audience.
AI analytics can help you:
Find Your Humanity
For industries not viewed with the same sense of “fun” as some others, letting the humanity behind the brand shine through is of the utmost importance. It’s not as simple as projecting a “caring” attitude – because you can say you care and still come across as self-serving.
Instead, the idea is to use social insights to cultivate “relatability.” This is one of several strategies financial services brands can use to stand out. Use AI-powered analytics to find the topics and conversations breaking through the noise, and focus on the ones with the most intense sentiment behind them.
What are finserve audiences looking for? What are they in love with? What are their biggest pain points? Talking to them – relating to them – on these subjects will help you make connections. But remember not to make it all about promoting your offerings – that’s the least human thing you can do.
Just talk to your audience about things that matter to them, and your brand will become part of their circle of influence – without them feeling
Of course, you can’t talk to your audience if you don’t know who they are – and there are multiple options here. It’s probably safe to say that all consumers are interested in financial services on some level – with certain segments more interested in various aspects like:
- General Banking
- Borrowing for things like a new car or home
- Retirement options
- Starting a business
And much, much more. Using AI-enhanced sentiment analysis allows you to find those connection points consumers share, so you can offer them individualized messaging and services speaking to their exact needs.
Check out Visa for a master class on creating and reaching audience segments using Twitter bio insights.
Find Influencers to Spread the Word
Speaking of speaking… another way to humanize finserve brands is through influencers. These high profile social personalities – or bona fide celebrities – can connect your brand to their devoted followings, giving you cred by proxy.
Just be sure you find the right influencer(s) for your brand. If your products and services are aspirational, then you might do well with a Kardashian talking you up on Instagram. If your messaging is geared toward a simpler lifestyle, you need someone more accessible to be the face of your brand.
Follow the love – and engagement – and you’ll be fine.
Spot New Trends, Competitors, and Potential New Audiences
It’s important to remember your brand isn’t the only thing to monitor. Looking at category conversations overall can show you what’s being said beyond your brand, what trends are building, and where you might have prospects ripe for engaging.
We saw in the NetBase Financial Services Best Practices Guide 2019 analysis of Western Union that not all conversations related the subject of money transfers were branded. In fact, the split was almost down the middle:
Western Union has built a solid Facebook community, moving customers through the funnel to conversion by understanding the emotional drivers behind money transfers, and not coming across as too “salesy” in their messaging.
Gain Customers Through Reliable Intel
With a subject as serious as money – especially as we get into large numbers – you can’t be too careful. Understanding consumer sentiment is a powerful predictor that those who advise on investments must be attuned to.
Credit Suisse wisely uses AI analytics to track consumer emotions to know whether there’s an issue contraindicating particular stock purchases, or other competitive intel worth considering.
An issue with Starbucks a few years back was a bit concerning, but monitoring social data kept the finance brand informed enough to offer guidance for their clients to make educated decisions.
In situations like this, your insights can’t be even a little shaky. This is where AI analytics – and their unparalleled speed and accuracy – truly shine. When the stakes are high, you want best-in-class tools on your side. That’s the only way to gain – and keep – consumer trust.
Follow the Data to Win
Finserve brands are smart to focus on their customers, though we know they need to do even more with regard to digital strategy to really hit the mark. Those applying AI analytics have the advantage. Don’t let them best you without a fight.
Ready to take your business to the next level with AI analytics? Reach out and we’ll show you what they can do for your brand.