By Raul Han
Social media has become the de facto means of communication globally. As the Instagram mantra often goes, “Pics or it didn’t happen,” which basically means if something wasn’t on social media, it probably didn’t happen.
Brands that aren’t fully utilizing social media are missing out on a world of opportunity. A good social media strategy enables brands to improve on different facets of operation, including increased exposure, leads, sales, and improved customer service.
For startups within the evolving world fintech, social media offers a unique platform for connecting with consumers. Plus, because many startups within this space often deal with new and unique product and service offerings, social media offers the perfect platform for defining these unique concepts.
For instance, startups that are fundraising using ICOs (Initial Coin Offerings) or developing products and services around the blockchain can define their unique platforms to followers on Facebook, Twitter, and other interactive social media platforms, which usually work better than a whitepaper posted on the company’s website.
Further, with over 70% of the American population on social media, the potential to transform brands is huge.
Social media marketing, like other forms of digital marketing, is a highly dynamic field. Therefore, start by designing a future-proof strategy that will guarantee success through the different growth stages of your fintech startup.
Sing to the Right Crowd
Many brands often make the mistake of designing a social media strategy without a clear target audience. Perhaps it’s because people got tired of hearing the same message: “define your target.” No social media strategy can be successful without first defining your brand’s customer base, even if you are planning to throw money at it with a paid campaign.
Dig into every aspect of your target audience, including demographics, preferences, needs, and lifestyles. Determine pain areas and address them when designing your campaign. This will enable you to get the most out of your campaign, sometimes without having to spend a dime.
Double-down on Mobile
Every day, over 1.7 billion people around the world are logging into their Facebook, Twitter, and other social pages on their mobile devices. More specifically, 92% of Pinterest users, 86% of Twitter users, and 68% of Facebook users access their accounts on mobile.
There are tons of things you can do to ensure you are visible on mobile when designing your social media marketing strategy. For instance, you can tweak your Facebook tabs to make it easier for users to navigate. You can use apps like Tabsite and Woobox to create custom Facebook URLs that’ll ensure your Facebook site stays up and running on mobile devices.
You can also create mobile-friendly blogs and content to ensure your message can be easily read on mobile devices.
If you ever woke up one day and felt like one of the social media platforms wasn’t there before you went to bed, that’s probably because it really wasn’t. As the number of social media platforms continues to rise, many brands often wonder if it makes sense to have a presence across each channel.
The major social media powerhouses offer different sets of specialties and advantages, so do your homework before blasting your campaign across each platform. If you’ve already defined and uncovered your target audience, this part should fall into place easily.
The demographic profile of your customer base will determine which platforms to use. For instance, if you want to get in front of women more than men, Pinterest will be a great channel for your brand.
On the other hand, Instagram is popular with younger adults between ages 18 and 29, which makes it a perfect fit for brands targeting the younger generation.
Content is still King, even on Social Media
No one wants to read bland, auto-generated content on the internet, especially on social media. While you might get away with one or two poor posts on your blog or website, social might not be too forgiving.
If you really want your brand to have an impact on social media, ensure you provide value by only posting helpful content in an engaging and timely manner, even for niches that typically come off as boring. For instance, if your startup is in the business of dishing out alternative loans, provide useful information about cheapest personal loans within a specific region, making sure to add titbits of interesting information to make it sound less like a generic sales pitch.
Social media marketing is one of those ventures that you’d rather pass than perform poorly. While the rewards might be high for those who do it perfectly, anything less might make things worse for your brand.
Raul Han has over 7 years experience as an Internet professional. He is a consumer goods entrepreneur with a lot of hands-on experience in business start-ups, customer service, and marketing. His work can be found in The Huffington Post and Entrepreneur.