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It is important to stay ahead in the financial services marketing world that is always changing. As we step into 2024, the power of social media in this industry is undeniable. However, it’s not all smooth sailing. To move through the changing landscape, you need to clear up some common misconceptions that might be stopping you. In this blog, we will explain five common misconceptions about marketing financial services on social media.
“Social media is only for B2C businesses”
The finance industry often has a hard time accepting that social media is not just for B2C companies. Social media can help you connect and learn. We’ll explore how B2B and B2C financial services can harness social media’s potential.
“Compliance makes social media too risky”
Compliance can indeed be a daunting challenge, but it’s not an insurmountable one. You can market yourself on social media. Have a strong policy in place, team training, and monitoring tools.
“Financial services are too complex for social media”
The financial industry is often viewed as complex and filled with jargon. Simplify complex financial concepts so your audience can understand them easily. Leverage visuals, infographics, and videos to demystify complex ideas or concepts.
“Posting less equals lower risk”
A lot of finance companies think that if they use less social media, they will be safer. In reality, this approach limits your reach and engagement. Consistent, high-quality content can reduce risk and build trust with your audience.
“Social media is just for promotion”
Social media is not just a promotional platform. It’s also a space for education, thought leadership, and relationship building. Sharing insights, answering questions, and engaging in conversations can boost your online presence.
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