{"id":14573,"date":"2020-04-29T13:25:58","date_gmt":"2020-04-29T13:25:58","guid":{"rendered":"https:\/\/thesocialelement.agency\/?p=14573"},"modified":"2020-10-21T10:09:39","modified_gmt":"2020-10-21T10:09:39","slug":"managing-social-for-financial-service-organisations","status":"publish","type":"post","link":"https:\/\/thesocialelement.agency\/managing-social-for-financial-service-organisations","title":{"rendered":"Managing social for financial service organisations"},"content":{"rendered":"\n
While some customers will be more severely impacted by the lockdown than others, everyone will be going through a time of increased apprehension and stress.<\/p>\n\n\n\n
While all brands should be communicating with empathy, financial service brands will see people at their most anxious. <\/p>\n\n\n\n
Social media is a great platform for financial service brands to build trust and provide quick and clear updates to customers. It also allows them to be more human in their communication.<\/p>\n\n\n\n
Firstly, while social media offers many advantages to financial service brands that want to engage their customers, local regulation has to be taken into account. Regulation will vary depending on locale, but there\u2019s a brief summary of major regulation in the UK and US available in the financial services guide.<\/p>\n\n\n\n
Once the regulatory considerations are accounted for, financial services companies can use social media to:<\/p>\n\n\n\n
One advantage of having a well-managed social media presence during the lockdown is that it may help reduce demand at customer service call centres so that people who are vulnerable or elderly and may not be online, can get the help they need.<\/p>\n\n\n\n
If the organisation has had to pause or shelve certain campaigns due to the pandemic, perhaps use the free time to develop that new channel launch that\u2019s been discussed. That way, once lockdown has eased and the situation is less critical, the organisation will have a new way to reach audiences.<\/p>\n\n\n\n
Financial service providers should regularly review their social media strategy. What problem does the social media presence solve? <\/p>\n\n\n\n
Once the strategy is in place, come up with a comprehensive and accessible set of guidelines for employees to use when managing social media. Make sure you use these guidelines when training staff and regularly update them. <\/p>\n\n\n\n
While people often turn to social channels to talk to brands, it\u2019s still a place we go to for entertainment and to chat with friends and family. Financial service providers need to ensure that their content is engaging and informative but not intrusive.<\/p>\n\n\n\n
For example, think about what the right social channels are for your brand. Think about content from the customer\u2019s perspective. What do they want to see? What\u2019s important to them?<\/p>\n\n\n\n
Ensure that any social channel you establish is adequately resourced and monitored. It\u2019s so frustrating not to receive a response when you have an urgent query (especially these days, when other contact options may be limited).<\/p>\n\n\n\n
During a crisis –<\/a> especially a prolonged one – it\u2019s essential that financial service providers have enough trained staff on social media to be able to rotate people on and off the teams. <\/p>\n\n\n\n Customers are likely to be less patient, with their emotions running much higher than usual. It can be very stressful for teams to manage social media during this time, so you need them to be able to cope with the increased demand.<\/p>\n\n\n\n Financial service providers are going through a period of intense demand – not just for information and regular services, but a demand to provide the extra support that people and businesses need in this time of global crisis. <\/p>\n\n\n\n When used within the regulations, social media can be an efficient and creative way to talk to customers and act with empathy at a time when people will greatly appreciate (and remember) kindness. <\/strong><\/p>\n\n\n\n With the right systems and software in place, social media can also be a brilliant tool for insight – allowing organisations to monitor and analyse what customers are saying and doing on the organisation\u2019s channels. These insights can help with product and service development, and provide much needed information to the organisation’s leadership team (which will reinforce the importance and impact of the organisation\u2019s social media work).<\/p>\n\n\n\n It\u2019s more important than ever that financial services brands communicate clearly, regularly and with empathy and understanding. While some customers will be more severely impacted by the lockdown than others, everyone will be going through a time of increased apprehension and stress. While all brands should be communicating with empathy, financial service brands will see…<\/p>\n","protected":false},"author":52,"featured_media":15045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"sync_status":"","episode_type":"","audio_file":"","transcript_file":"","castos_file_data":"","podmotor_file_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","footnotes":""},"categories":[15],"tags":[286,212],"series":[],"episode_featured_image":"https:\/\/thesocialelement.agency\/wp-content\/uploads\/2020\/04\/michael-longmire-lhltMGdohc8-unsplash.jpg","episode_player_image":"https:\/\/thesocialelement.agency\/wp-content\/uploads\/2019\/01\/Genuine-Humans.jpg","download_link":"","player_link":"","audio_player":false,"episode_data":{"playerMode":"light","subscribeUrls":{"amazon":{"key":"amazon","url":"https:\/\/music.amazon.com\/podcasts\/3abc34c3-ff60-4a78-b347-6119461b7ed1\/GENUINE-HUMANS","label":"Amazon","class":"amazon","icon":"amazon.png"},"apple_podcasts":{"key":"apple_podcasts","url":"https:\/\/podcasts.apple.com\/gb\/podcast\/genuine-humans\/id1561811296","label":"Apple Podcasts","class":"apple_podcasts","icon":"apple-podcasts.png"},"google_podcasts":{"key":"google_podcasts","url":"https:\/\/podcasts.google.com\/feed\/aHR0cHM6Ly90aGVzb2NpYWxlbGVtZW50LmFnZW5jeS9mZWVkL3BvZGNhc3Q?sa=X&ved=0CAYQrrcFahcKEwiQz-mM7dzvAhUAAAAAHQAAAAAQAQ","label":"Google Podcasts","class":"google_podcasts","icon":"google-podcasts.png"},"spotify":{"key":"spotify","url":"https:\/\/open.spotify.com\/show\/7jkfw0qeUlwrauhfy2pCGU","label":"Spotify","class":"spotify","icon":"spotify.png"},"youtube":{"key":"youtube","url":"","label":"YouTube","class":"youtube","icon":"youtube.png"}},"rssFeedUrl":"https:\/\/thesocialelement.agency\/feed\/podcast","embedCode":"You can find more information in our updated guide: managing social media engagement for financial service organisations<\/strong><\/em><\/a>.<\/h4>\n","protected":false},"excerpt":{"rendered":"
Managing social for financial service organisations<\/a><\/blockquote>