Social media has become an integral part of our everyday lives. The number of global social media users stood at an estimated 4.76 billion in January 2023. People across the generations engage in social media to keep in touch and, increasingly, engage with their favourite brands.
A ready-made audience for your brand
As a result, many businesses see social media as an excellent way of communicating with clients and promoting their brand, products and services. For example, 93% of marketers use Facebook as part of their digital marketing strategy, while 78% use Instagram.
A social media agency that understands your industry
TOMD is a social media marketing agency with years of experience working with firms in highly regulated sectors such as financial services and law. We help them with social media management, copywriting and graphic design to reach and engage both existing and potential clients. We also provide compliance approved social media content to help financial services firms stay on the right side of strict regulations.
It’s very important to remember that you should not use social media purely as a promotional tool. Particularly in industries where consumer trust is already low, social media should instead be used to display what your brand stands for.
As a rule of thumb, we recommend that only one in five posts are overt promotions of your business. The others should aim to engage and inform. These posts might take the form of:
- Business news, for example promotions, award wins and team socials
- Any charitable activities or community support initiatives
- Engaging thought leadership pieces about your industry
- Your take on the latest news and developments
Part of your wider communication plan
Finding the right social media strategy for you
As with many elements in your business’s communication armoury, social media should not be viewed as a standalone tool. Instead, it should be viewed as one element of a well-rounded and planned out marketing strategy.
You should use it strategically to achieve the goals and objectives set out within your overall marketing communication plan. Random social media posts without any objectives or end goals in mind are unlikely to reap results, and may even harm people’s perceptions of your brand.
Our experience tells us that social media works best in combination with other platforms such as email, advertising and your website. It works well as part of an integrated marketing campaign, with the same messages being distributed across a broad range of channels.
The proliferation of social media platforms now available (Facebook, Instagram, YouTube, Twitter, LinkedIn, Pinterest, WhatsApp, Snapchat… we could go on) proves a potential challenge for modern businesses. While it’s understandable that you want to reach as many prospective clients as possible and ‘keep up with the Joneses’, having a presence on every channel is neither advisable nor useful. Instead, be selective and choose platforms that you feel comfortable on and that attract a demographic that most closely matches your target audience.
Beat the algorithms with paid social
Advertising on social media
Organic social media is a great place to start for any firm wondering how to get going with digital advertising. However, businesses are being increasingly penalised by social media algorithms that prioritise content from friends and family over branded content. According to research, the average reach of an organic post on a business’s Facebook page is now just 5.2% – meaning that just one in 19 followers of the page even see it.
Marketers are increasingly turning to social media ads not only to circumvent these algorithms, but also to leverage the data social media platforms hold on their billions of users and to harness their advanced targeting capabilities.
For example, say you are a law firm trying to target millennials who are looking to purchase their first home. Facebook not only allows you to target by typical demographic information such as age, location and gender, but also by incredibly specific characteristics such as parents with toddlers, those who are newly engaged, and even by their residential profile, such as recent home buyer or mortgage borrower.
The most appropriate social media advertising platform depends on your advertising goals. If you’re a wealth management firm looking to attract wealthy professionals, a LinkedIn advertising campaign that targets users who occupy senior management positions may be the most suitable. A FinTech company promoting a new app might do well with Twitter, Facebook or even TikTok ads to capture the attention of millennials looking for convenient ways to manage their finances.
Whether your primary aim is lead generation, brand awareness or increasing traffic to your website, TOMD can help you create a social ad campaign that meets your objectives.
How TOMD can help
We provide a broad range of social media support, from creating and managing content schedules, producing and scheduling posts, to designing eye-catching graphics to accompany your posts.
In addition to our bespoke social media offering, we also provide pre-written, pre-approved financial services posts as part of our syndicated content offering. These can be used in conjunction with our syndicated articles, videos and blogs to drive traffic to your website.
Depending on your requirements, you can use us to support your existing marketing team by taking over time-consuming tasks such as content creation and post scheduling. Equally, we can take on the full management of all your social media platforms and activities, giving you back the time you need to focus on your core business.
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