Is your institution’s Facebook page missing this vital engagement tool? A critical element of the top financial institution pages on Facebook is education.
The Financial Brand has posted the Q3 results of the best and brightest financial institutions on Facebook. Who’s generating the most likes? Well, it’s no surprise to see Big Banks taking up the top spots in the US, but small to mid-size banks, and credit unions, are finding their own big opportunities to succeed.
The data allow us to compare banks all over the world to credit unions in the US. You’ll notice that despite their relatively smaller size, credit unions are still able to generate thousands of likes every quarter, coupled with strong engagement rates almost across the board.
Educational content appeals to customers’ direct and personal needs without pitching a product. On social media, people don’t want to be sold things in a traditional sense. A Facebook page that only posts product ads will get ignored. A stream of ads on your Facebook page is like endless product placement in a movie or TV show; Ads aren’t why people tune in.
The Top 100 institutions on Facebook show that people do tune in to see community news, to be entertained or participate in contests and for education, but only one of these can be effectively used to drive sales. More than anything, educational content works because it provides a direct benefit to customers. Content helps customers save money and avoid mistakes.
Content develops the brand’s persona as an informative guide through the entire buying process, not just when the customer is ready to buy. Content sets the stage before customers are ready to buy – before they’re looking at ads and comparing rates. Content sells by not selling, providing the guidance and information that customers need, right when they need it.