One of the biggest assets any FinTech can possess is the audience’s trust. In this age of social media with all its fake news, misinformation and cybersecurity threats, FinTech brands are more pressed with the need to win the trust of their audience due to the services they provide, which are largely financial. This is why leading brands in the industry make the welfare of their users and audience in general central to their operation. They do this by being authentic in their approach.
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Indeed, research shows that 86% of consumers say authenticity is important when deciding what brands they like, support and buy from. This is why the first asset you must acquire as a FinTech brand is the trust of your audience. Let’s think about it: if you want a customer to share personal information, bank account details, and hard-earned savings, they need to feel confident in your product or service and know they are in safe hands. In this article, I share proven ways to gain trust through social media marketing.
Provide Support At Every Stage
If you have just gotten a new customer or subscriber, the first thing to do is to make them feel safe, wanted and welcomed. It is all about telling them that there is top-notch customer service that is there to service their needs. Hence, using social media platforms as well as email marketing is the fastest way to provide support to customers at every stage. By scrolling through your social media pages, you might find one or more customers asking questions or laying complaints that need answers. It will be very defining when you identify customer pain points and come up with solutions.
Also, still using social media as a platform to provide support, you can provoke conversations that surround users’ financial problems. For example, you can start a challenge that can inspire customers who are finding it difficult to save, to put aside a few nairas each week for a period of months. By helping customers achieve financial goals, you are as well inspiring them to trust your FinTech.
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Finally, to make this strategy work, your FinTech must make excellent customer service a crucial part of your social media activities. Never leave your customer’s complaints, suggestions, or questions hanging for too long. In this age of stiff competition in this industry, customers are more likely to look elsewhere. Therefore, make sure you have a dedicated Community Manager or Social Media Manager to stay on top of your social conversations.
Establish Yourself As A Thought Leader
One of the biggest turn off for audience in the social media is excessive promotional, marketing or sales content. Social media audiences are happier to connect and trust a brand when that brand is offering value. This is why you must establish yourself as a thought leader in the FinTech industry. Whether as a company or as an individual, when you are offering valuable content on social media, especially LinkedIn which professionals frequent, you are more likely to get higher engagements.
For example, a leading B2B FinTech firm known as Affirm did an excellent job in its content delivery by blending promotional posts with thought leadership blogs which it shared on LinkedIn and newsletter. By providing content that helps businesses and individuals achieve their financial goals as well as maximizing your products, you are creating an avenue where the audience can trust your brand.
Finally, to achieve the most of this strategy, monitor keywords and hashtags relevant to your industry. See what people are talking about and identify where you can offer your expertise. For instance, you can offer expertise on trendy topics like cybersecurity, Bitcoin, stocks and trading. Let your content be all about how your audience can move from the point they are to the point they want to be.
Support Audience’s Values
Studies have shown that brands that support the values of their target audience connect more with them on a deeper level thus inspiring loyalty and trust. In fact, another study showed that 77% of consumers prefer to buy from companies that share their values. By supporting trendy values like climate change, gender equality, racial inclusiveness, and healthcare awareness, you are likely to get the desired engagement.
However, there is a caveat to this strategy. Supporting all manner of clichés and movements can be counterproductive if you aren’t careful. Therefore don’t just jump on any bandwagon with your customer support. At best remain silent. Yet the bulk lies on your table as a FinTech owner. You need to choose a cause that resonates with your audience and matches your FinTechs values.
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In social media marketing, success stories such as positive reviews told by customers are trusted by the audience. Indeed, research reveals that 76% of consumers are more likely to trust content shared by ‘normal’ people than content shared by brands. Therefore, to stand out in your social media marketing encourage customers to rate and review products and services and share positive feedback on your channels to build trust.
FinTechs in Nigeria must engage their audience on various social media platforms if they desire to build trust. And just have we have highlighted in this article, there are predominantly four ways FinTech brands can inspire trust in their audience through social media marketing. They include providing support, providing valuable content as a thought leader in your field, connecting your values to your brand value, and sharing success stories. In this present age of social media, Nigerian FinTechs must utilize the agency of social media to encourage more users to sign up on their platforms.
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This article was first published on 14th December 2022