In 2022, financial service companies are being pushed to significantly bolster their digital marketing efforts.

Back in late 2020, a Cerulli Associates study said there were hardly any European asset managers who didn’t use social media channels to push their messages. A large chunk of them expected social media and digital activities to soak up more marketing budgets over the subsequent two years.

Making the most of platforms such as LinkedIn when it applies to wealth managers has been a focus for various figures in the field for some time. (See an example here from InvestCloud.) One individual who has made a recent business from showing how to maximise a LinkedIn presence is Melanie Goodman. Based in London – and before, that, Geneva – she runs Trevisan Social Media Marketing. Back in July 2020, as the world contended with the pandemic, Goodman explained the benefits of creating the right presence. Goodman returns to these pages to explain what still needs to be done. The editors of this news service are pleased to share these views and invite replies. The usual editorial disclaimers apply about the views of outside contributors. Email tom.burroughes@wealthbriefing.com

The rise of digitisation across industries ever since the COVID-19 pandemic hit the world isn’t an unsurprising phenomenon. Marketing of organisations has been happening in the online space, most recognisably on social media, for quite some time now but, for professionals, the Linkedin bulb is burning that much more brightly now: 43 per cent of internet users are spending longer hours on social media since the pandemic.

For the financial services sector, this period has been volatile and challenging, to say the least. It came face to face with economic shocks, regulatory changes and shifts in demand and supply. However, besides going remote with their operations, corporate finance companies have also switched up the way they use social media, especially LinkedIn.

LinkedIn has in recent years been the preferred social network for financial services when it comes to lead generation, content marketing, community building and overall brand engagement but as we move into 2022, it’s increasingly imperative that financial services firms bolster their LinkedIn strategy. 

Precision and personalisation
If everyone is jumping on the same bandwagon, the question arises as to how to differentiate yourself. In response, the online marketing strategies of financial service companies need to become more personalised and precise. Marketing budgets have shrunk and financial businesses are feeling the effects, so the goal of digital marketing for these companies should now be to become smarter (not necessarily bigger) resource pools. 

Whether it’s through targeted messages, personal messaging or account-based marketing, LinkedIn has the power to unleash a stream of leads for financial service companies and boost their revenue.

Empathetic approach 
The way corporate financial professionals approach content marketing is now undergoing a significant transformation. LinkedIn has always been a great platform for financial services to share thought leadership content to create value for their audiences. Now that’s changing, as their audiences are showing a preference for more humanised and relatable content. They are now looking for content that exudes empathy and relatability – something that strikes an emotional chord with them.

The digital landscape is now so competitive that only meaningful connections can help brands stand out. Finance companies should now devise LinkedIn marketing strategies with content that forges long-lasting, loyal relationships with people. It’s all about engaging audiences on a deeper, more emotional level. Sharing core-shaking insights or a good dose of knowledge can engage LinkedIn audiences and give them a reason to opt for their services.

In practice, think about sharing photos from your office showing you or your team at work, you out and about meeting clients, a personal insight into what makes you tick as a person, not just an advisor. 

Rich media content
Taking an empathetic approach to content marketing is great but most finance professionals, especially the novice ones, who incorporate LinkedIn marketing into their strategy, face a dilemma – what kind of content to share on the platform? 

In 2022, it’s time to create an ideal mix of content that will rev up their revenue engine. Long-form content works very well on LinkedIn since it garners the most shares but it’s time to enrich the content mix for driving more engagement.

The LinkedIn algorithm loves document posts – pdfs – as they play on the metric known as “dwell time” which means that people stay on the posts longer as they scroll through the pdf page by page, signalling to LinkedIn that it is a popular post. Polls are also great engagers and you can use them strategically for market research into who needs your services and what features they are looking for.

Above all content formats, video is the ideal tactical content pillar: Video courses and webinars are incredible content formats that can simplify complex financial concepts for audiences, share expert opinions, and support high-level business decisions. People have a substantial visual appetite and 2022 is the time for finance companies to satiate it through LinkedIn. Making the best use of video on LinkedIn can help financial service companies build brand reputation and convert leads into actual customers.

Showcase your services: Share original and curated content in your LinkedIn posts to showcase your services and specialities such as investment, pensions, wealth management, or fintech. A key feature is the "Featured Section" under your heading: are you using this? Adding testimonials and key thought pieces to this section will increase your credibility in strides.

Greater involvement of the community
The role of LinkedIn Groups in boosting the visibility of brands is widely discussed and written about. The benefits of building a community on LinkedIn using this feature extends even to finance companies who are required to maintain strong relationships with clients. Joining relevant groups in both the finance niche and, equally importantly, where your ideal clients are members can bring your brand successfully into the limelight. 

The lead-generation capability of LinkedIn oozes out successfully through LinkedIn Groups where financial service companies can have meaningful interactions and ignite valuable relationships that convert into material transactions.

And the golden nugget? You can message as many people as you wish within groups without being connected to them! (You merely have to have been a member of the group for more than five days.)

Conclusion
Transformation and attitudinal shifts of audiences are pushing financial services companies to adopt more agile and focused marketing strategies. The key to success lies in staying abreast of the latest trends and embracing the change that’s taking place.

In 2022, financial service companies are being pushed to significantly bolster their digital marketing efforts. They need to use more targeted approaches to lower their costs and increase their RoI. With Facebook threatening to pull out of Europe and Twitter under fire for its “dark side”, what kind of change are we seeing?

Certainly more advisors are turning to channels such as Tik Tok for social proof so it appears that omni channel may be the future but, in reality, companies need to consider using the channels that are generating material income for them.

As long as LinkedIn is undergoing its respective evolution as the professional network, newer and more advanced marketing opportunities for finance companies will keep emerging. Staying abreast of the plethora of new features that LinkedIn is releasing is crucial to taking the opportunity to make hay when the sun shines.