Four tips for financial professionals on Facebook

By Amy McIlwain

Financial Social Media Marketing

In continuation with our four-part series on tips for financial professionals using the most popular social networking sites, this article will focus on Facebook.

Unlike Twitter, Facebook allows you to connect and engage with consumers on a more personal level. Most Facebook users put their life out in the open because they want to share; they want to communicate with others; they want to foster valuable relationships. The same is true with your business. Ultimately, people want to do business with other people who they can relate to and feel comfortable working with.

Facebook gives you the opportunity to share who you are and what makes your business tick. Ask yourself, why would someone want to be a fan of my business? Let’s discuss the possible answers to this million-dollar question that will help you manage a successful Facebook fan page.

To receive valuable industry information.

Many fans of Facebook pages use their “likes” as a way to load their newsfeed with valuable information about a specific industry. Think of it as another version of an RSS feed — an investor will become a fan of multiple financial publications and organizations in order to receive up-to-date news and information on the financial industry.

This means that your fan page needs to be pushing top notch information that’s relevant to your fans and your industry. However, be careful of the frequency in which you post to your fan page — you do not want to overload your fans newsfeeds, so think quality over quantity. Do not post more than one or two times a day.

To receive company news and updates.

Some Facebook users have become fans of your page because they want to follow your business and receive company news and updates. These are the kinds of fans that either already have brand loyalty or are simply looking to learn more about your company.

To fulfill your duties to these types of fans, make sure you’re posting relevant and up-to-date company news such as upcoming events, promotions and media appearances.

To become a brand ambassador.

These are the fans that business owners love. These types of fans already have loyalty to your brand and are looking to become a brand ambassador to help you spread the word.

You’re probably asking yourself, do I have these types of fans? Of course you do. These fans are your employees, friends, family members and current clients. They already know your business and are representing it in some way or another. The key is to push them to market your brand even more.

Ask them to send out fan page invites to their friends. Ask them to post fan page information on their personal profiles. Brand ambassadors are there to represent your business and attract new fans.
To follow up on a promotional incentive.

These fans are the tough ones to acquire. They’ve probably run across your fan page from a promotional incentive or through another user’s newsfeed.

The first step is to get them to click “like.” One great strategy is to create a reveal page that forces them to click “like” in order to see specific content. Try hosting a video, fan discounts or special promotions to entice non-fans to click “like.”

You also have a tough job in front of you in order to keep those fans. In order to do that, look back to answers one and two — continue to push out relevant industry news and keep your fans updated on company updates.

The last bit of advice on Facebook fan pages is definitely not the least important. One of the biggest challenges with any social network is to get followers to interact and engage with the company. Make sure you’re posting engaging content that will lure them into wanting to respond and add to page discussions. Questions, promotions and calls to action are surefire ways to get fans to respond.

But don’t just stop there. The key to a conversation is a two-way street of interaction, so make sure you’re doing your part to add value to discussions and page communications. Social media is all about relationships, but if there is no commitment from both parties, you’ll fail to see your networks grow.

If you have any tips on Facebook fan pages please let us know.