Facebook now boasts 80 million small- to medium-sized business pages, and this cutthroat competition means it’s harder than ever to break through the noise.
This hasn’t shaken Facebook’s status as a valuable business marketing tool for your bank, though. And assuming you keep your compliance and risk management in check, Facebook actually has a ton to offer in the way of attracting new business and building a network of engaged followers. As it turns out, social media and banks can actually work quite well together.
Unlike LinkedIn, though, Facebook isn’t just about business. Users turn to Facebook as a way to connect with peers, not just to find leads or career opportunities. That means that when it comes time to post promotional content, professionals must walk a fine line. Banks have to find ways to stand out with the plethora of businesses and entertainment-related content on Facebook. Follow these three pointers for a step in the right direction.
1. Forget the rambling.
If there’s ever a time to get off your digital soapbox, it’s when you’re posting on Facebook. Posts should be short, sweet, and to the point, but they still have to entertain. In a study on Facebook engagement, marketing expert Jeff Bullas found that when brands stuck to 40 characters, their posts generated 86 percent more likes and comments — and you thought Twitter copy had to be short.
Another study by BlitzMetrics examined 120 billion Facebook impressions. It found that the longer a post was, the less engagement it received. Facebook itself has also reported that its users prefer ads with less text, so brevity rules here.
The shift toward mobile has played a huge role in this trend. Mobile content consumers, which make up more than 95 percent of Facebook users, favor small snippets that can be quickly consumed before scrolling to the next post. If a post is too long, the text is truncated, and the user has to take additional action to see your content. That’s a big ask in the world of social media.
2. Turn heads with video.
Collectively, people spend 100 million hours watching Facebook videos every day. So if you have videos, post them on Facebook — and do so natively (not just via a link to your YouTube page).
If that sounds far-fetched, just think about your own social media habits. If you see a post that explains how to make the best macaroni and cheese in a step-by-step format, you might click it. But if there’s a video of said mac ‘n’ cheese sparing no ooey gooey details, you’ll probably linger on that video instead of continuing to scroll.
While mortgage loans and banking tips might not be as delicious, the same concept applies. If you can make your message visual and convey it without a hunk of text, it’s significantly easier for users to consume on a mobile device.
If you retain anything about video engagement on social media, remember this: Text-only posts get abysmal engagement compared to their multimedia counterparts, so be sure to build up your visual content library (and put it to good use).
3. Consider community.
Your Facebook strategy shouldn’t just plug services.
Facebook encourages businesses — including banks — to establish a relationship with those in their communities. In other words, posting here isn’t strictly business. Talk about community events, share experiences, and ask for opinions. You’ll spark meaningful conversations that your audience will remember.
Sure, your main reason for using Facebook is probably to boost your business, but social media is, well, social. Keep posts casual and conversational as if you were writing them to a friend or your peers. Think “relatable” rather than taking a sales-esque approach.
Before you schedule a post, ask yourself two questions: Is this something I would want to engage with? Would I comment on this or reshare it to my page?
The bottom line here is that if you focus too much on stuffy business talk, your followers will skip your posts and go to the next one in their feed (and that will probably be a video about mac ‘n’ cheese).