Trust is a crucial factor in business, and it takes a long time to acquire it and a short time to lose it. The finance industry is majorly affected by the acquisition of trust from their clients since they are responsible for protecting and multiplying their clients’ money.
With the advent of social media, customers can share and empower each other about what they go through and the services they get. As a result, financial institutions and insurance companies are forced to up their game regarding customer experience and traditional services.
These companies have realized the importance of social media, and they have embraced it. Here are examples of five such companies.
Banking and finance are generally dull topics. However, with accessibility and personal, warm experiences, marketers get an opportunity to get in touch with the customers. Capital One took this opportunity to launch the Banking Reimagined Tour. The bank has a trailer that has been traversing the country trying to showcase a personalized digital experience.
In addition, there is an interactive wall that allows customers to acquire knowledge about financial values and set goals. The campaign plan is to generate new ways of thinking about finance. Capital One is pushing this strategy using cutting-edge technology.
Chase has decided to use sports superstars in its latest social media campaign. It brought together basketballer Steph Curry and tennis player Serena Williams for a Battle of the Paddle.
Chase has tried to improve people’s financial knowledge using sports. For example, they have collaborated with LeBron James’ media company, Uninterrupted to launch an online series called Kneading Dough.
The financial institutions lost a lot of trust and popularity from the public after the recession. Corporate social responsibility was a way of regaining public trust. Morgan Stanley established Capital Creates Change, an initiative tailored to rejuvenate the company’s image and relationship with the public. It shows Morgan Stanley’s role in the evolution of technology, infrastructure, and culture as ways of improving the world.
It has designed a financial social media strategy that treats each social channel and its respective audience individually. They have realized that different channels have different audiences.
New York Stock Exchange
It has a unique financial brand on social media. NYSE is channeling its notable profile through social by taking chances with new technology and social platforms. For example, the NYSE has been streaming its opening and closing bell ceremonies live on Facebook. The brand is also using Snapchat to promote content on its account.
Social media has taken over the business world, and it is paramount that a company maintains a social media platform for prosperity.