Charlotte Day, Head of Content and Social Media, easyMarkets

In the digital economy, social media is essential for business success. For financial service providers, social media is a great tool for informing investors about market news, promote products and services and educating audiences about risk management and compliance. In the following article we take a look at five finance brands that are doing social media right.

easyMarkets

Founded in 2003 easyMarkets is one of the world’s fastest growing retail financial brokers. The Cyprus-based firm just so happens to have one of the most engaging social media presences in the world of finance. Each day, tens of thousands of traders, consumers and market enthusiasts receive latest news updates, timely promotions and engaging analysis on the financial markets. We’ve always heard that you get out of something what you put into it. In addition to offering award-winning brokerage services, easyMarkets operates several financial news websites and education resources that are prime newsfeed material.

Where easyMarkets really stands out is its ability to bring its staff front and centre for the financial world to see and learn from. This makes easyMarkets not just one of the most informative social media channels, but one of the most personable as well.

Barclays

The United Kingdom’s second largest bank is no Chatty Cathy on social media, sporting a mere ~250 tweets after six years. But the bank has poured a great deal of time and energy into supporting local communities. Through social impact investment, Barclays teams up with innovative charities that have demonstrated a commitment to community and strong philanthropic initiatives. In 2012 the company announced “Community Investment” as one of its strategic pillars. The company’s social brand value has been on the up and up ever since.

It also doesn’t hurt that Barclays launched Twitter Payments in 2015, becoming the first British bank to let social media users make payments via social media.[1]

PayPal

Believe it or not, PayPal was long considered to be a faceless payments company that lacked true brand value. We all knew what PayPal did (and certainly thanked them for it), but never really knew about the company’s story or people behind it. This began to change in 2013, when the company finally decided to transform its image. Addressing the social media woes were at the top of the list.

PayPal quickly launched a customer service Twitter handle called @AskPayPal and started using various social media channels to engage celebrities and other brands in real time. Before you knew it, the company became a thought leader with its PayPal Forward innovation blog. PayPal always had the resources to excel at social media, but never prioritized it until recently. By embracing social, PayPal has become one of the most coveted and iconic brands in the world of finance.[2]

American Express

If sheer numbers and total engagement are your thing, then you can’t go wrong with American Express. The credit card company has utilized social media more than the vast majority of financial service providers. With several Twitter accounts and Facebook pages, American Express makes sure it gets its voice heard in the social world. The company’s main Twitter page currently has around 6.5 million likes. Its Twitter handle also has upwards of 881,000 followers. According to Corporate Insight, bank and card accounts have but a small fraction of American Express’ Twitter followers.[3]

Citi Bank

Citi not only boasts more than 1.1 million Facebook likes and 874,000+ Twitter followers, it launched a leading professional women’s network on LinkedIn, the world’s biggest professional network. Citi realized that professional women need a venue to share their experiences and discuss issues that impact their careers. Using its vast resources and broad social media reach, it introduced a LinkedIn social networking community called Connect: Professional Women’s Network. Such networks are commonplace today, but not in 2012 when Citi launched the group. Fast-forward to today, the group boasts nearly half a million members.

The professional LinkedIn group has been praised by the media for creating a sense of community for professional women. By establishing the network, Citi has been welcomed into customers’ trust circle, something that has surely benefited the company’s position in the market. Today, the group is considered to be the most active community on LinkedIn – truly amazing![4]

[1] John McCarthy (February 25, 2016). “Barclays brings banking and social media closer with Twitter Payments.” The Drum.

[2] PayPal: From Faceless to Friendly. Increasing Brand Engagement. ShortyAwards.

[3] Forbes. Eight Financial Companies That Get Social Media Right.

[4] Citi’s Connect: Professional Women’s Network On LinkedIn.

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