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Social Media Is an Immense Asset to Any Financial Marketer's Arsenal

By Paige Whiteside 24 June, 2023 3 mins read

Financial marketers have a lot of great tools in their arsenal, including social media. Social media is a vital tool for any financial marketer. 81% of Americans use it at least once per day. Boomers, millennials, as well as generation z use social media to communicate with friends, find new business opportunities, and keep abreast of current events. By maintaining a constant presence on these platforms, financial marketers will be able to grow their customer base and establish brand trust.

Inbound marketing

Inbound marketing is a great way to increase organic traffic and improve your conversion rate. This strategy puts customers first and addresses buyer's pain points during the entire buying journey. Goldcore, an industry leader in financial software development and analytics, uses it. In just two years, Goldcore has grown its blog traffic by over 80% and established itself as a thought leader in the industry. Its content is often quoted by media outlets, including Bloomberg, Reuters, FT and Bloomberg.

Finance firms can use inbound marketing to create more engaging content. It helps to attract qualified leads and provides a personalized sales experience. Financial marketers have been slow adopting this strategy, despite its many benefits.

Customer experience

HiTouch is a global company providing financial services to business. After completing a quarterly account audit, executives were confused about the best way to improve customer service. They decided to run a mini audit of their customer service programs. They discovered that the majority of their vertical-market teams hadn't moved beyond tracking leads or analyzing buying patterns. Most employees thought that CEM was simply a sales and marketing job.

Customer experience is becoming increasingly customer-centric. This requires a multichannel approach. An omnichannel approach allows consumers to be reached on their preferred platforms in their preferred languages. This will improve response rates, and produce more relevant data.

Social influencers

You can increase your sales and revenue by using social media influencers to promote your financial products. To create educational content and promote other products, it is important to build a relationship. Fidelity for instance has leveraged the power to tell stories and worked with influential people to promote their Spire app. It is an app that helps people plan financial goals.

Influencers are known for their influence and ability to influence others. In fact, a study by IScoop found that 79% of Facebook users let their friends influence their purchases. This shows that peer pressure has a huge impact on purchasing decisions.

Customer outreach

For financial services customer outreach, it is vital to use the correct marketing channels. The best way to engage with customers is through a comprehensive approach that is proactive and thorough. Use great content and digital marketing techniques to boost your visibility. This will help you create loyal online customers. Customer loyalty programs are another way to motivate customers to buy products and services. You should focus on rewards that are unique and not limit your program to those that are already common.

Customer outreach is one of marketing's oldest strategies. A financial marketer can create loyalty and enthusiasm for their products by reaching out to potential and current customers. These efforts can include free consultations, webinars, and debt management programs.

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FAQ

Who hires consultants

Many businesses hire consultants to assist them with their projects. These can include small businesses and large corporations, government agencies as well non-profits and educational institutions.

Some consultants work directly for these organisations, while others freelance. The process of hiring depends on the size and complexity the project.

Many rounds of interviews are required when hiring consultants. Then, the final decision will be made about who you believe is best for the job.

Is it possible to start a consultancy from home?

Absolutely! Many consultants do this already.

Many freelancers work remotely via tools such as Skype, Trello and Basecamp. So they don't miss company perks, freelancers often make their own office space.

Some freelancers prefer working in cafes and libraries over traditional offices.

Others prefer to work from home as they feel more at home with their families.

Of course, working from home has its pros and cons. However, if you love what you do, it is worth considering.

What is the average time it takes to become a consultant

Depending on your industry and background, the time required will vary. People start work with a few weeks before they find employment.

However, consultants can spend many years learning before they are able to find work.

What is the cost of hiring a consultant?

There are many factors that influence the price of consulting services. These include:

Project size
Time frame
Scope of employment
Fees
Deliverables
Other considerations such as experience level, location, etc.

What should your consulting fees be?

It all depends upon what you offer. You don't have to charge anything if you provide services free of charge. However, if you are selling products or services, then you need to set prices based on value.

If you're providing low-quality service, you don’t have anything to offer. Why should anyone pay for your services?

If you provide high-quality service, you may ask for higher prices because people appreciate the value you offer. Also, clients who purchase multiple packages from your company may get discounts.

What skills will I need to be a consultant?

A consultant should have strong analytical skills as well as interpersonal skills. This is vital because you may not understand the scope of your work. It is important to learn how to quickly solve problems and manage people.

Also, you must have great communication skills. Clients expect a response within 24 hours. If they don’t hear from you within 24 hours, they assume you don’t care. It is important to keep them updated and make sure they fully understand the situation.

Statistics

"From there, I told them my rates were going up 25%, this is the new hourly rate, and every single one of them said 'done, fine.' (nerdwallet.com)
According to statistics from the ONS, the UK has around 300,000 consultants, of which around 63,000 professionals work as management consultants. (consultancy.uk)
My 10 years of experience and 6-step program have helped over 20 clients boost their sales by an average of 33% in 6 months. (consultingsuccess.com)
So, if you help your clients increase their sales by 33%, then use a word like “revolution” instead of “increase.” (consultingsuccess.com)
According to IBISWorld, revenues in the consulting industry will exceed $261 billion in 2020. (nerdwallet.com)