If you\u2019re looking to bank <\/em>social media tips, you\u2019re in the right place.<\/p>\n As a marketer in financial services<\/a>, navigating bank and credit union social media accounts can be tricky. Balancing compliance regulations with creative content marketing is no small feat. And everything gets even trickier when you\u2019re managing multiple social media channels.<\/p>\n Fortunately, we\u2019ve got some helpful tips to make your job easier. Whether you\u2019re looking for new ways to engage customers on Instagram, build brand awareness on TikTok, or just trying to figure out what tactic will work best on Twitter, these nine tips will help you get started.<\/p>\n \t\t\t\t\t<\/p>\n \t\t\t\t\t\t\t\t\t\t\t<\/p>\n \t\t\t\t\t\t\t\t\t Grow your client base with the tool that makes it easy to sell, engage, measure, and win \u2014 all while staying compliant.<\/span><\/p>\n \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tBook a Demo<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n \t\t\t\t<\/span><\/p>\n Why do banks need to be on social media? What can social media for banks do for you? Why should you bother with a bank marketing strategy? These are questions with a million answers, but we\u2019ll start with a few.<\/p>\n According to the FINRA Foundation<\/a>, 48% of Gen Z and 42% of millennials report using social media to gather investing and financial information.<\/p>\n Source: <\/em>FINRA Foundation<\/em><\/a><\/p>\n While it isn\u2019t the most trusted resource (that one belongs to parents and family), many people turn to social media to discover educational content.<\/p>\n Gene<\/a>ration Z is five times more likely to get financial advice<\/a> on social media than people 41 and over. Gen Z\u2019s affinity for finfluencers isn\u2019t a surprise. Financial influencers fluent in TikTok know how to deliver content that speaks to this generation.<\/p>\n Your bank social media marketing strategy can take inspiration from their work, creating bite-sized videos focusing on advice or strategy.<\/p>\n Remember, Gen Z is used to getting information quickly and immediately. Booking a call with a financial advisor might not be the best strategy to get them to engage.<\/p>\n Nine out of 10 banks<\/a> state that social media is important, and 88% report being very or somewhat active on their accounts.<\/p>\n If you\u2019re not active online, know that your competitors are. And they\u2019re scooping up all your potential social media followers, telling them why their <\/em>bank is better than yours.<\/p>\n Remember when cryptocurrency blew up, and people were making money hand over fist? I do, and I remember feeling a lot of regret for not having invested in it early on.<\/p>\n That kind of FOMO drives Gen Z to invest. In fact, 50% of Gen Z investors report <\/a>making an investment solely because of FOMO. For those who have, the investment was likely crypto (57%), individual stocks (32%), or meme stocks (28%).<\/p>\n We\u2019re not saying you should entice people to invest in risky businesses like cryptocurrencies. But there\u2019s power in showing a group of people all doing or getting excited about the same thing.<\/p>\n In 2023, the financial sector\u2019s digital ad spend showed an upward trajectory. It\u2019s joining the retail and CPG sectors in surpassing $30 billion in annual spend. According to eMarketer, it will see $36.95 billion in 2025<\/a>.<\/p>\n When you create your digital strategy, don\u2019t just rely solely on organic social posts. Consider paid advertising efforts like the pros do.<\/p>\n![](\"https:\/\/i0.wp.com\/blog.hootsuite.com\/wp-content\/uploads\/2023\/05\/Hootsuite_Product-Popups_5.png?resize=726%2C631&ssl=1\")
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\n\t\t\t\t\t\t\t\t\t\t#1 Social Media Tool for Financial Services\t\t\t\t\t\t\t\t\t<\/span><\/p>\nWhy should banks be on social media?<\/span><\/h2>\n
Social media is among the most used resources for gathering financial information in certain generations<\/h3>\n
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\n<\/picture>\n<\/noscript><\/figure>\nGen Z uses social media as a way to get financial advice<\/h3>\n
Your competitors are online<\/h3>\n
Online FOMO is a big factor in Gen Z investment motivation<\/h3>\n
Digital ad spending for the financial sector was $33 billion in 2023<\/h3>\n