An Untapped Marketing Goldmine For The Finance Sector

Most finance organizations don’t realize that they are sitting right on top of a marketing goldmine, and the larger the organization the more gold there is. You could be a bank, and asset manager, or an advisory group, it doesn’t matter, the gold is there.

So, what is it?

It is the collective voice of your employees and/or colleagues.

Most people in the finance sector have a few hundred connections on LinkedIn. If you don’t, spend a few hours on LinkedIn and you will. That first batch of people is easy to get. Now extrapolate beyond LinkedIn and think about Twitter, and in some cases, Facebook. These connections, followers and friends are just sitting there, ready to be put to work, but few people in the finance sector take advantage of this.

The question is, why? There are two reasons.

Number one: The most senior people in the finance sector are old school (and I am keeping my head low when I say that). Regardless of how “tech savvy” they want to be, they typically don’t fully comprehend just how much the world has changed. (And, yes, I am generalizing to make a point.) Those aged 45-ish and below aren’t reading newspapers, watching TV, or reading magazines, although content is hitting them in 1,000 other ways.

Because those steering the ship don’t fully appreciate how to leverage a connection on LinkedIn (or the like), they don’t harness the opportunity.

Number Two: This is even more legitimate. Everyone in the finance sector is paranoid about the compliance and regulatory ramifications that surround social activity. This is an extremely legitimate concern, however, technology has evolved to accommodate this concern. Take ten seconds and check out Platforms such as Dynamic Signal allow a centralized body of an organization to approve all content that is created both by the centralized corporation or any of its employees. It entirely eliminates the concern around compliance. Even more importantly it allows you to track the effectiveness of content marketing.

This new realm of marketing is called employee advocacy. It is the act of empowering the collective voice of your employees to shape opinions or build audience.

My point: Financial organizations, asset managers, and the like can easily harness their employees social networks to promote the values and thinking of their firm, but they don’t. Most within the financial sector (and note I said most) still view social networks and blogs as frivolous time wasters. This couldn’t be further from the truth. They represent the new reality of how people receive information and form opinions, and technology now exists to control the content and track results.

If you are like me, you place very little credence in traditional advertisements. We have been over marketed to at almost every level. If you want to influence how I think, expose me to honest people talking candidly about how they feel about something. Don’t sit there and tell me my life will be better because you “mitigate risk.”

By Kyle Dunn