Using Twitter in the financial services industry
Twitter, one of the most popular social media channels used by many financial service businesses, offers brokers an outstanding opportunity to develop new marketing opportunities: it can really help build sales and engagement with customers. We’ve seen first-hand how this platform, in particular, has revolutionised the way businesses interact with their clients and brokers, and its use is only set to increase. Social media space may seem a little daunting to those who aren’t regular online networkers. However, as more and more businesses go digital, awareness and willingness to get on board with new channels that offer ways of extending reach and engaging with customers are to be highly recommended.
Twitter can offer brokers a great platform to broadcast their offering to potential new clients, as well as provide a channel for interacting with key players in the wider industry. In the run up to the NACFB Commercial Finance Expo on 25th June, Shawbrook launched a Twitter campaign using a dedicated hashtag to interact with our Twitter community and encourage brokers to get talking about Shawbrook at the event. By using relevant key words that are easily searchable (hashtags) and keeping messages short and sweet (under 140 characters), we’ve been able to create a buzz and awareness about our presence at this key industry exhibition.
With businesses across the board increasingly turning to social media to engage with customers and promote their brand, Twitter allows brokers to initiate relationships with new business leads as well as maintain contact with existing clients. Below are some of the benefits we see:
Provides marketplace insight
By following relevant industry players (such as lenders), clients, potential business leads and even competitors, Twitter offers the perfect opportunity to quickly learn about new market developments and engage with questions and views. It helps to put your individual voice and business acumen on the map and boost your overall online outreach.
Allows you to build a community of followers and increase customer engagement
Twitter often acts as a live customer feedback forum, providing instant reactions from existing clients, as well as potential business leads. It also allows you to tweak your business approach so you are more closely aligned with clients’ needs.
Twitter opens doors to potential clients who you might not have previously encountered through other marketing activity. Monitoring and commenting on news from the financial services industry, and building relationships through online interaction, helps turn relationships into business opportunities. As well as opening new avenues, Twitter also allows brokers to manage a greater number of relationships simultaneously, making your time spent online more efficient.
Grows business partnerships
By following industry leaders and other key influencers on Twitter, you learn about breaking news, and can develop connections with people who have the ability to help you and your business. This takes time, but is worth the perseverance – particularly if you’re venturing into new markets.
Improves sales and reduces marketing spend
We recommend Twitter as a channel to pursue sales leads and see its potential as an important supplementary marketing tool for brokers. Although it requires time and dedication, it is free, and using it as a central part of your marketing strategy can help reduce total marketing spend.
If you’re interested in finding out more about our Twitter campaign or would like to know more about using this social media channel, come and chat to us at the NACFB Commercial Finance Expo on the 25th June at The Pavilion, NEC in Birmingham from 9:30am to 4:30pm at stand B01.
Jim Moulton, Head of Marketing & Broker Engagement, Commercial Mortgages, Shawbrook Bank