Editor’s note: Today we feature on The Money Principle, Matt Banner: the owner and writer for On Blast Blog, an online resource for bloggers and online entrepreneurs. You can find him on twitter @blastyourblog. Matt has considerable experience and helps online businesses increase their traffic. Here, he offers an easy to follow guide to social media in the form of infographic. Now, I don’t need to tell you how important social media has become for promoting your online business or how confusing it can be (I find it confusing anyway). Pay attention, follow the guidnace Matt is offering and don’t go away because you are not a blogger: most business has presence on the internet and if yours doesn’t yet, you may need to change that. Enjoy!
Social media does more than simply connect people. In today’s modern age, it’s opening up new avenues for customers and financial services to do business in new and exciting ways. Most importantly, it’s making it easier to control your financial stability and growth.
Through platforms like Facebook, Twitter, YouTube, Pinterest, and Instagram, financial services are making it easier than ever to open a bank account, access credit, and learn more about how people can take control of their financial futures.
2 Major Ways Social Media Changes the Finance Industry
Whether you’re someone seeking knowledge and help, or you offer financial services, social media represents a powerful tool to find what you need. Let’s look at two ways these platforms are shaping the industry:
- Customer Service
In today’s age, customers want to have an instant solution for their problems. If they aren’t helped immediately, they go to social media to take the issue public. Since no company wants that kind of PR, most banks and financial institutions now have social media profiles to help people immediately.
This is a great development for both businesses and customers. The only thing both should keep in mind is security of personal information when discussing or handling issues on these platforms.
- Marketing Efforts
Financing companies are now including social media as a part of their overall marketing strategy. This has resulted in larger reach and more personalized advertisements based on customer’s activity online. Again, this benefits both sides of the equation with more potential customers and better services overall
Maximizing Your Potential on Social Media
Check out the infographic below to find out how you can maximize your effort on social media to reach customers, find financial stability, or anything in between. Thanks for reading and let us know what you think about social media’s influence on the finance industry in the comments below!