A recent article in the UK’s Financial Times reported that an increasing number of firms in the City are beginning to use social media to target younger, affluent prospects and maintain strong client relationships.
In particular, previously traditional firms such as wealth managers, where the average age of clients has previously been over 55, have been turning to social media to build relationships with a younger audience; an audience estimated to be worth over $30 billion, according to a recent study by Cisco.
So, how does a traditional firm with a conservative corporate reputation succeed in transitioning to communicating with a younger audience on social media?
The answer – as is important in any other successful social media campaign – is to implement a detailed, rolling and reactive communications plan, designed to promote the company’s key messaging, and drive client and prospect engagement.
This will enable your social media managers to carefully control the message, particularly when combined with consistent tone guidelines and a robust content development process. These additional procedures are paramount to ensuring a protected, strong brand message while continuing to maintain compliance with stringent industry regulations.
Those new to social media also need to remember it’s not just about posting regular, good quality and relevant content. Social media facilitates a two-way interaction – which means having the processes in place to respond quickly and effectively to messages from clients, prospects or other interested parties – and is key to building relationships.
When built into any social media plan, these critical elements will help to grow and maintain a strong, reputable and engaging social media presence, designed to target the increasingly important affluent youth market, while improving cross-channel visibility, media interactions and supporting corporate website SEO.
With this multi-channel visibility uplift, there is increased opportunity for audience engagement, new business lead generation and improved client service satisfaction.