Social Media Strategy for Financial Services Using Videos

Quick Summary: The number of financial content creators is increasing daily. Find out how you can curate a powerful social media strategy for financial services videos on platforms such as TikTok, Instagram, Linkedin and more.

TABLE OF CONTENT

Boosting Financial Engagement with Video: TikTok, Instagram, and Beyond
The Power of Interactive Video Content
Top 5 Strategies to Foster Genuine Audience Engagement

1. Consistency & Posting Strategy
2. Encouraging Community Interactions
3. Contests and Giveaways
4. Exclusive Content for Loyal Followers
5. Leveraging Interactive Features

Best Interactive Elements on TikTok

1. Duets and Stitches
2. Challenges and Trends
3. Live Q&As
4. Best Interactive Elements on Instagram
5. Polls and Quizzes
6. Q&A Stickers and Interactive Stories
7. Instagram Live Sessions

Case Studies: Successful Financial Content Creators

1. Humphrey Yang
2. Tori Dunlap

Is Video Content Marketing Worth the Investment?
Frequently Asked Questions (FAQs)

Social Media Strategy for Financial Services 

If you are not utilizing video content to market your services at banks, credit organizations, or other financial institutions, you are missing out! Modern-day consumers and customers, especially Gen Zs, demand far more from marketers than what was offered years ago. The post-Covid era has seen many people relying on video content as a source of important information on various disciplines. This online habit has extended to financial matters. Audiences now go to social media platforms to research topics on mortgages, credit cards, insurance, and more.

According to Oberlo, as of 2024, TikTok is leading in influencer marketing, with 68.84% of brands using the platform. The report also notes that Instagram comes in second, with 46.7% of brands using the platform in their marketing activities. This means that you can easily and successfully adopt video marketing on these platforms if you use the right strategies.

So, what are the best strategies for boosting engagement with financial video content? Well, that’s what I will discuss in this blog – stay tuned!

The Power of Interactive Video Content 

If you are a marketer at a bank, insurer, financial advisory firm, wealth management etc then  using social media content for financial services marketing to engage prospects and clients is no longer optional. In my experience with social media marketing for financial advisors, I have watched many brands leveraging various social media apps that support video marketing. They have valid reasons for doing so.

Here are some of the reasons why you should also reconsider your financial marketing strategy:

Capturing Audiences’ Attention – Interactive videos can easily keep a viewer fixed on your content compared to any other form of marketing. Have you ever heard the saying, “Every good story must have a beginning and end?” Start with a catchy hook about your brand, products, or services. The aim is to keep your viewers affixed to the video so that they can learn more about what you are offering. Follow it up with brief and concise information on the features and benefits of your products or services. This part can be a bit tricky, considering that viewers might stop watching if they deem the video to be boring or not helpful. At the end of the video, ensure that you achieve what you set out to deliver at the beginning: either teaching your audience something new or giving solutions to some of their problems.

Interactive Videos are Easily Shareable – Whenever you make a video on financial topics, do you always encourage your viewers to like, share, and follow your account? You should know that people only share content they think is entertaining or useful. This is exactly how your interactive videos will spread from one network to another and, in turn, generate more traffic to your product and service pages.

Google Favors Videos – The new era of content marketing will witness a surge in short video content. This is because Google rewards you if you can successfully keep visitors locked in on your site. What better way to do this than giving them something short and useful to watch?

Videos Boost Trust and Credibility – Modern digital marketing for financial services has surpassed the era when you only had to tell people about your products or services. A lot of people tend to trust an advertisement more when they see the product in action. For instance, if you tell people that Money Market funds (MMFs) will increase their financial security, create a video showcasing how that will happen. Show how their money will accrue interest. Give examples using actual figures, not just words. If possible, show your audience how MMFs have personally improved the financial security in real life examples.

Top 5 Strategies for Financial Social Media Marketing To Foster Genuine Audience Engagement

Regardless of your marketing model or tool, you must have a proper plan and strategy to execute it. For video content, you must go the extra mile to build a genuine audience engagement. So, how do you do this? This section will guide you on some of the best engagement-nurturing strategies.

Consistency & Posting Strategy

You must be consistent with your content creation and posting. If you are a fan of any top content creator, you know that they always plan the video filming, editing, and posting. Consider creating a calendar of events, plan what you need to do, and decide when to do it.

As a marketer, I can assure you that nobody will watch a video that just sprung from nowhere. You must let your audience be part of the content creation if you want to build a genuine connection with them. You should always post the expected video release dates to help your audience plan their time and set reminders on their phones.

You can also create suspense by sharing snippets of the process. It is like the movie trailer version of content creation – it mirrors how movie and TV show production organizations often share short videos of what they are filming. That is the kind of consistency that will make your video content marketing strategies thrive.

Encourage Community Interactions

Building a community around your brand goes beyond comments and likes – the interaction must be authentic. Of course, responding to your audience’s comments and direct messages and liking their comments shows that you value their opinions. It gives your customers a sense of belonging to your brand and can create a community of brand ambassadors you can engage with. That is what an authentic connection is and you need it to survive the endless fleeting attention spans.

Contests and Giveaways

You can’t thrive in a competitive niche without mastering how contests and giveaways work. Most of the time, you will see financial institutions like banks issuing a challenge to their customers and giving prizes to the winners. The engagement rate increases when people participate in such competitions. So many brands drive engagement using comments, likes, hashtags, and shares. This helps create a buzz around the brand and people will be left wondering what you are all about.

Exclusive Content for Loyal Followers

One of the best feelings as a consumer is when a business sends you personalized content. As a financial institution, you certainly have access to analytics on all your loyal customers’ behavioral patterns. Such information can help you tailor your videos to their preferences. You can also try to implement something akin to what Spotify does with the annual ‘Spotify Wrapped’, where the company sends users their listening metrics from the preceding year.

Leveraging Interactive Features

Once you learn how to utilize interactive features of different social platforms, boosting engagement becomes a walk in the park. What do I mean by interactive features? The most common interactive element is a shoppable link – this is where you attach a product link to the video. It makes it easier for someone who wants to subscribe to your services when they click the link directly from your video.

Other features include quizzes, polls, and Q&A sessions. I will discuss how such interactive features boost engagement when analyzing TikTok and Instagram as top social platforms for creating video content.

Work with a Professional Financial Services Video Agency 

Admittedly, effective use of social media in financial services content marketing may is labor intensive. There is a lot of research, planning, writing of copy, casting, filming, editing, designing of motion graphics, posting, tracking of analytics, tweaking strategy, pivoting when necessary etc. You and your team may require outside assistance if not for all of the tasks, at least for some of them.

Working with a financial services video production company may help you list your social media marketing objectives, create a content plan, write scripts, find influencers and content creators in your niche, create filming and post-production schedules, and even manage your social media platforms. Even for financial institutions with internal marketing teams, outside help can always make it easier and faster to achieve goals.

Best Interactive Elements on TikTok

Did you know that video posts on financial matters increased by a staggering 373% on TikTok in 2024? This wouldn’t be possible without the numerous interactive elements the social platform has added to the app. If you are looking to get the most out of TikTok, here are some of the features you shouldn’t neglect:

Duets and Stitches

Duet is a cool feature that lets you post videos side-by-side with other TikTok creators’ videos. The two videos play at the same time on a split screen. The condition is that you must set your account as ‘public’ to allow other users to duet with you.

Here is the step-by-step procedure for using Duets:

1. After identifying the relevant video, look for the Share button on the right side and select Duet.
2. Click Duet among the selections available.
3. If you don’t want to use filters or effects, click the Record button to start recording your video. Use the same button to stop recording, then click on Continue.
4. You can choose to edit your video first, then go to Next.
5. A page with various editing features and privacy settings will appear. Make the relevant changes, then click Post or Drafts to either publish or save the video, respectively.

A Stitch, just like duets, lets you use other creators’ or your own videos with the one you are recording. When using the Stitch feature, you can choose to use part of or the whole video from the other creator.

Here is the step-by-step procedure for using Stitches:

1. Go to the video you want to Stitch with and click Share.
2. Select Stitch from the options provided.
3. You can choose to Stitch part of or the whole video. Click Next once you have made your decision.
4. Choose the video’s maximum length and click Record.
5. After creating your video, click Continue.
6. Make any relevant edits and click Next.
7. You can edit the video again and choose your preferred privacy settings, then click Publish to post or Drafts to save the video.

Challenges and Trends

TikTok challenges and trends can be about literally anything on this planet. We have seen challenges based on trends from the 1980s on TikTok. The catch is that you must be able to replicate it or outdo the person who started the challenge. Many brands always jump on these trends to capture the attention of their audiences.

You can create your own challenge in the form of a contest or competition. Use a hashtag to brand the challenge and make it easier for your audience to participate. This will increase your reach to the target audience.

Live Q&As

The Live feature allows viewers to ask you questions through a chat section. You can use this to give customers firsthand information about your products and answer any questions. This will enable you to connect directly with your target audience.

Best Interactive Elements on Instagram

According to Emplifi, the number of financial influencers on Instagram increased by 6% as of April 2024.  This indicates that other financial institutions are embracing sharing of financial content, including videos, on Instagram. What are you waiting for?

Here are some of the interactive features you should consider:

Polls and Quizzes

One thing I can guarantee you about people who spend a significant amount of time online is that they love giving their opinions on almost everything! Polls and quizzes are very direct yet powerful when it comes to collecting your target audience’s preferences. Both features allow you to ask your audience questions – the only difference is that polls have only two answer selections, while quizzes have multiple (more than two) answer options. This is a great method of collecting valuable brand data.

Q&A Stickers and Interactive Stories

You can make your Instagram stories interactive by adding Q&A stickers. This entails an “Ask Me Anything” session where users can tap on the sticker on your Instagram story and type any questions about your brand. You can then screenshot the question, post it on your story, and add your answers as a caption.

Instagram Live Sessions

Nothing beats a one-on-one session with your audience. Instagram Live is a feature that allows you to go live and interact with existing and potential customers.

You can use this to do a live video interview or Q&A session with your audience. Such a collaboration breeds unmatched trust and credibility.

Case Studies: Successful Financial Content Creators

It is common practice for influencers to review brands’ products even without a paid partnership. But why let that positive publicity go to waste? You should partner with some of the top ‘finfluencers’ to increase your brand engagement and visibility.

Here are two of the top financial content creators across TikTok and Instagram:

Humphrey Yang

At the peak of his influencer career, Humphrey Yang was the most popular finance content creator. Everyone, including you (if you are a staunch financial content follower), knew about Yang’s informative and educational videos on personal finance and non-profit organizations.

He currently boasts 639,000 followers on Instagram and 3,300,000 followers on TikTok.

Tori Dunlap

Tori Dunlap has worked so hard to rise through the ranks and achieve a Humphrey Yang level of popularity. At just 25 years, Dunlap had already saved about $100,000 and was empowering women with personal finance knowledge.

She has 2,200,000 Instagram followers and 2,400,000 TikTok followers.

Is Video Content Marketing Worth the Investment?

From my perspective as a marketer, video content marketing is the next big thing! It will be the backbone of digital marketing in the distant future. You might want to jump on this ship before it sails too far.

As more and more people are getting addicted to social media videos, you have to adapt your brand to the content consumers expect to see – that is, short but informative videos!

Let’s recap some of the most crucial video content marketing statistics: videos on financial matters increased by 373% on TikTok in 2024, while Instagram influencers increased by 6% the same year. As you can see, everyone is embracing video content marketing – don’t be left out!

Frequently Asked Questions (FAQs)

What types of financial topics work best on Instagram Stories?

The two most important financial topics revolve around people’s income and salaries: investment explainers and tax tips. Every tax season, people want to know about how the new tax measures will impact their ability to earn a living. This will also determine their savings and investment budget.

How do I measure engagement success on TikTok and Instagram?

You can do this by comparing the comments, likes, saves, and shares to the number of views on the videos you post. Here is a mathematical representation:

Total Number of Engagement
(comments, likes, saves, and shares)
x 100%

Number of Views

What are some mistakes to avoid when creating financial video content?

You should avoid making:

1. Long videos
2. Poor quality videos
3. Videos with too much information
4. Videos that don’t answer the viewers’ curiosity or questions

How often should I post financial video content?

The goal is to keep your audience entertained and informed – posting 3 to 5 times a week would be ideal. You wouldn’t want to overload them with information. On the other hand, they might get bored if you post every day.

For banks and financial companies in big cities like New York, it can be helpful to work with agencies. These agencies specialize in financial video production services in NYC. They can assist with creating and publishing content.