Facebook for Financial Services – A Canadian Lesson


It’s impossible to deny that social media has had a huge impact on people’s lives. A few short years ago, ‘like’ simply meant that you enjoyed something. Nowadays the word is inextricably linked with the use of the thumbs up sign on Facebook. There are around 1 billion users of Facebook and many users are checking in daily to see what friends and family have been up to.

With these kinds of numbers, it’s no surprise that Facebook is seen as having the potential for mass exposure of a company’s brand. It is portrayed as an essential marketing platform for all manner of businesses. While you’re not going to get your brand in front of each and every Facebook user unless your brand is as well-known as Red Bull (36 million likes), having a fan page on Facebook makes perfect sense for your business. When implemented and managed properly, it can really help to attract new fans, get more brand exposure and even result in more sales.

Some businesses seem to have embraced social media marketing more forcefully than others. Even though financial advice, insurance issues and banking can be considered dry subjects, many such businesses are using Facebook to its very best. In Canada I could go so far to say that if you are offering financial services in Toronto, Vancouver or anywhere in between and you’re not on Facebook, you are in danger of being left far behind your competitors.

For many companies, the effective management of social media such as Facebook becomes very time-consuming and so it’s more cost-effective and efficient to use an external company to manage it. If you want a great Facebook presence for your business, work with a professional company who will create your own Facebook community, interact with your fans and post regular,interesting items to encourage more likes and shares.

Take a look at how some of the Canadian financial institutes are using Facebook to its fullest potential and hire an experienced social media management company to achieve exactly the same for your business.

1. Provide interesting posts

Sun Life Financial Canada is an insurance company with a modest 9,000 likes but it is definitely king of the Facebook content. Every day it posts an interesting article relating to financial services with an eye-catching photo, and some other more general lifestyle posts just to jazz things up a little.

2. Encourage fan engagement

Cornerstone Insurance Brokers posts competitions;’True or False’ questions regarding insurance issues, and polls its fans for their opinions. It really does everything possible to increase fan engagement. With over 3,000 likes it’s clearly working for them.

3. Encourage visitors to click through to the website

Canada Car Loans is in the business of offering finance for car purchase. Its Facebook page is one of pure temptation for every car lover out there. With regular posts of photos of amazing cars, car enthusiasts will be licking their lips in anticipation. The Facebook page has nearly 30,000 likes and as the posts have a link to the website, it’s a dead cert that many people will be visiting the website to get a car loan quote.

4. Interact with clients

RBC Royal Bank – Canada has completely nailed this. Its Facebook page has 125,000 likes and every day clients send personal questions and enquiries. No more waiting in queue at the bank to speak with a teller! And the most important thing is that the bank responds on the very same day to each and every question, courteously and carefully.

5. Dealing with client complaints

Some clients use the RBC Royal Bank – Canada’s Facebook page to let off steam and express disappointment in a particular service the bank offers. Does the bank hide its head in the sand and ignore the comment? Certainly not. It comes back with the rationale, or in the case of a very specific complaint, tries to take the discussion away from the public’s eyes by asking the complainer to contact them by a separate route. A perfect and diplomatic response each and every time.

Many think that Facebook is all about posting photos of their great day out so friends can see what they have been up to. But if set up and managed well by an experienced company, Facebook really can help any business to increase their profile and improve brand recognition. By following some of the great examples of Canadian financial services that use Facebook wisely, any company can nurture a fan base that looks forward to the next post or they can use their Facebook page as a forum to address client’s questions and concerns quickly and painlessly.

Copyright 2013 Michelle Collins

Source by Michelle M Collins

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