Social media is a high-risk channel for financial services, and brands have the right to adopt it strategically. Compliance concerns, reputational risk and the challenge of creating truly engaging financial content make social adoption feel like a major hurdle.
But financial services brands are not a monolith. This complexity makes it difficult to formulate a successful strategy, but is essential for gaining market share.
However, social media marketing isn’t just about trends and hashtags – it’s the definitive channel for building trust. In this guide, you’ll learn how to overcome these challenges, covering the full impact of social media on financial services, as well as practical tips and examples to help you create a winning, compliant strategy.
Influence of Social Media in Financial Services
Financial services digital marketing agency on social media are transforming how banks, credit unions and investment firms connect with customers by building trust, providing education and providing customer support on platforms such as Instagram, LinkedIn and Facebook. Today’s financial institutions use social media to establish credibility, combat misinformation and build authentic relationships that drive business growth.
The latest research from the Bloom Agency shows how much social media is now shaping financial decision-making:
- In the U.S., 44 % of households rely on social media for financial insights, compared to 28 % in 2022.
- In Australia, between 46 % and 68 % of borrowers say that social-media content has informed their understanding of banking products.
- Digital-only providers now serve 50 % of adults in key markets in 2024 — up from 16 % in 2018 — underlining how digitally-driven channels (including social) are central to financial services strategy.
This gap presents a major opportunity for financial services brands to step up as trusted advisors in the digital space.
Social media is also an excellent customer service platform. More than half of customers (54%) now prefer to be reached via social media messaging channels rather than email or phone, highlighting why financial services brands can no longer treat social as just a marketing channel.
In fact, customers who engage with their financial providers through digital and social touchpoints report higher satisfaction and stronger loyalty, while the cost of service is lower – underscoring the business case for using social as a customer care channel.
Understanding the Financial Services Audience on Social Media
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Before you post, you need to know who you’re talking to. The financial services audience is not alone. The social media habits of a fresh graduate opening their first savings account are completely different from the habits of a seasoned investor managing a diversified portfolio.
Start by defining your key audience. Are you targeting first-time home buyers, small business owners or high-net-worth individuals? Each group has unique pain points, goals and levels of financial literacy.
Understanding these differences is key to creating content that resonates. This informs which platforms you prefer, which tone you use and which topics you cover. This audience-first approach ensures that your message not only reaches the right people, but also builds trust, which is essential in finance.
Top Social Media Platforms for Financial Services
Depending on your target audience and overall marketing goals, some social platforms may be a better fit for your brand than others.
To help you see what might be right for you (and figure out what to post), here are three social media platforms you should consider focusing on.
Instagram is quickly becoming a popular channel for financial services. Due to its highly visual nature, it is perfect for brands looking to showcase their personality and make finance more accessible. For example, the Bloom Agency recommends that brands use digestible infographics and short-form video formats to deliver key concepts.
As the largest and most popular social media platform, Facebook remains a powerful channel for digital marketers – especially when paid advertising is part of the mix. Meta’s advertising tools allow brands to run highly targeted campaigns on Facebook and other Meta-owned platforms.
LinkedIn is the world’s largest professional network. As it is more business and employment-focused than other social platforms, it is a natural fit for financial services brands looking to reach decision makers and institutional audiences.
How to Start a Financial Services Social Media Strategy
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Investing in social-media marketing without a strategy is like setting out on a road-trip without a map. You might get to your destination eventually, but you’ll probably waste a lot of time, energy and resources along the way.
Here’s a step-by-step process for building a financial-services social-media strategy from scratch.
- Conduct a social-media audit. Review your accounts. What’s working (and what’s not)? What’s your audience engaging with? Is your branding consistent? An audit will help you establish guidelines and identify key areas for improvement.
- Establish clear social-media policies and guidelines. Define rules, processes and approval workflows for content creation, engagement, compliance and security. Ensure all social-team members can access these policies.
- Use a consistent and trustworthy brand voice. What are your brand’s core values? How do you want your audience to feel when they interact with you? Use these questions as the jumping-off point to develop clear tone and messaging.
- Use tools for social-media management and analytics. Management platforms help schedule posts, track engagement, monitor brand mentions and analyse performance.
- Monitor and respond to customer inquiries promptly. Social media never sleeps, so set up alerts, response workflows and protocols.
- Build brand trust by highlighting company culture, values and employee experiences. Use social media to put a face on your brand.
- Prepare for crisis management and reputation protection. In financial services, your reputation is your most valuable asset. A proactive crisis plan is essential.
- Use social listening to improve customer experience. Track brand mentions, competitor activity and sentiment to stay ahead of issues.
- Gain insights from social data. Define your goals and KPIs. Then measure post-engagement, audience growth and conversion metrics to optimise your strategy moving forward.
Examples of Social Media for Financial Services
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Do you need inspiration? The Bloom Agency points to several financial services brands that do this well:
- A global bank uses an Instagram carousel to educate its audience about fraud detection.
- A regional bank leverages LinkedIn polls and infographics to engage corporate customers.
- A digital fintech provider turns complex topics into well-designed visual content and partners with creators to increase reach.
How to Find the Right Balance with Social Media in Financial Services
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Finding the right balance with social media for financial services can be difficult. Your brand must be accessible and engaging, as well as reliable and compliant. And in such a highly regulated industry, creating content that stands out without breaking any rules can feel like walking a tightrope.
What do we recommend? get support. Social media for financial services is not a one-man job. Marketers, compliance teams and industry experts need to work together to create accurate, engaging and on-brand content.
You also need sufficient time, resources and an approval process to plan and create brand-safe content. If you’re starting out, it’s more sustainable to focus on more evergreen content—like financial tips, FAQs, and expert insights—that can be approved and planned in advance than chasing viral trends.
FAQs
How do I measure ROI on social media for financial services?
Track conversions using UTM to measure the performance of social apps, account registrations and consultations. Connect social data to CRM to track the customer journey.
What are the key social media compliance considerations?
Financial institutions must archive all social communications, include disclosures about promotional materials and protect customer data. Avoid asking for certificates if it is prohibited in your area.
How should financial institutions deal with negative feedback on social media?
Acknowledge concerns publicly, then move the conversation to private channels for resolution. Use feedback to show service commitment.
Which social media platforms should financial services prefer?
LinkedIn works well for B2B and money audiences, while Facebook and Instagram are better for consumer banking and community building. Choose platform based on audience and goals.
How do I balance compliance with engaging content creation?
Focus on educational, evergreen content that answers audience questions rather than chasing trends. Create approval workflows with your compliance team.
Rahul M.
B2B Service Provider