• DE&I Commitment
  • Careers
  • Locations
  • Book a Meeting
    Book a Meeting
  • Company
    Learn a little more about us, our values, and our team
    Our Values
    We don't just talk the talk; we live by our core values
    About Us
    Empowering brands to realize their potential with data, insights, and technology
    Leadership
    Meet our leadership team
    Secure Data Architecture
    Our promise of data security and privacy. We keep your data safe from publishers, competitors and bad actors
    Corporate Social Responsibility
    We are committed to making a positive impact on our communities and our planet
  • Platform
    Plan, manage, optimize, and measure your campaigns with our omnichannel platform
    Our Platform
    A platform that connects all walled garden media
    Connected Media
    Create and manage campaigns across search, social, retail media and apps, in one platform
    Connected Data
    Make data-driven decisions as you plan and strategize
    See the industries we serve
    Learn how our customizable solutions can help with your unique needs
    Explore our partner integrations
    See the media, retailer, and data partners we work with
  • Clients
  • News and Events
    Check out recent announcements and see what we’re up to
    News
    Check out our recent media coverage
    Events
    Join us for our next conference or webinar
    Retail Media Executive Roundtable
    Join us in Chicago for a discussion with Amazon Ads on measurement and success
    Let's talk omni at Shoptalk!
    See how our omnichannel platform can help you build a winning strategy
  • Resources
    From new releases, to industry trends and best practices, Skai has you covered
    Blog
    Read the latest insights and thought leadership from our industry experts
    Capabilities
    Take your campaigns to the next level by enhancing your platform capabilities
    Research
    Explore our reports and whitepapers so you can keep up on the latest industry trends
    Subscribe
    Sign up to get the latest updates straight to your inbox
    Quarterly Trends Report
    Learn digital advertising campaign performance trends from Q4 2022
Back to Blog

The Skai 5: Five Effective Social Advertising Strategies for Financial Services Marketing

Skai™

December  04, 2020

Financial services marketing can be challenging on social media. People are on these apps to connect with friends and family, engage the greater online community, and consume entertaining content. It’s can be hard to get social media users to stop what they’re doing and pay attention to ads—what financial promotions can compete with celebrities and cute baby/pet pics?

But, with 247 million U.S. social media users as of 2019, the opportunity is just too big to ignore regardless of the complexity level.

Five Effective Social Advertising Strategies for Financial Services Marketing

Financial services advertising includes ads from commercial banks, credit agencies, personal credit institutions, consumer finance companies, loan companies, insurance agencies, business credit institutions, and credit card agencies.

The following are five ways that financial services brands can leverage social advertising to best reach and engage consumers:

Use videos to convey complex concepts

While there are many different social advertising formats, each has its pros and cons and marketers should choose wisely when picking which ad types to use.

For example, standard feed ads can be very inexpensive and reach many social media users for a tight budget. And carousel ads are great at showing different angles of a product or providing a step-by-step walkthrough of multiple products.   financial services marketingBut, financial services products are a bit different than apparel or consumer electronics. They can be a bit difficult to understand from just a text ad.

So, remember, the old adage that a picture is worth 1000 words. 

If your financial services ads aren’t getting very high click-through rates (CTR), it might just be that the general public doesn’t understand enough about retirement plans, investing, mortgages, etc. to be compelled to click. But, if you can explain your offering in a well-made, thought-provoking video, it will give social users more context into what you do and why your financial services marketing promotions might benefit them.

Split campaigns by existing customers and non-customers

One of the areas where social advertising excels compared to other marketing channels is in audience targeting. The social pubs know so much about each and every one of their users that they offer some of the most powerful and granular segmentation engines available to practitioners.

While there are many ways to build audience targets, focusing social advertising campaigns by existing customers and the rest of the world might be the most effective tactics for financial services marketing.

Existing customers already know who you are and your ads to them could skip the brand building and go right into upselling and cross-selling promotions. And you don’t just have to create one big segment of existing customers. Further segmenting them using your first-party CRM data by how long they’ve been a customer, how much they’ve spent with you, and by which financial services products they’re already using can help you to break this group down into smaller targets.

Non-customers are going to be your biggest bucket. You can use the native targeting options from the social publishers to group them by location, age, gender, household income, education level, and more. For example, maybe your retirement promotions need different messaging if the viewer is less than 30 years old and just starting their careers versus people over 50 who might be looking to invest in some additional coverage as they near the end of their working lives.

Garner trust through influencers

Trust is an incredibly important aspect of financial services marketing. After all, these cus relationships often involve how best to utilize a consumer’s savings. The trust requirement they need to have with you is a lot higher than with a brand from which they’re just buying a $20 item.

For newer brands, you can get instant credibility by aligning with trusted influencers. While social media users know that influencers get paid to promote brands, there’s a bit of an assumption that there’s a filter in place and that these mavens wouldn’t align themselves with a brand that they thought would be detrimental to their audience.

For long-standing financial brands, you may already have strong market equity that you can bank on, but you might not have that same trust level with younger audiences. To reach those people, you can leverage social influencers to help you tell your story to Millennials and Generation Z. As you can see below, younger generations are more likely to buy based on an influencer’s recommendation than older ones. 

social advertising influencers

Increase relevancy of your financial services marketing

One of the elements that tends to often lead to improved marketing results is relevancy. Reaching a consumer when they are already thinking about how to solve a financial problem that your brand solves can be just the right moment to engage them with your promotion.

Google has pioneered the concept of micro-moments, which are various points throughout the day where people turn to the web to find answers or fix issues. If you can reach people during these micro-moments with a highly relevant message, you probably have a better chance for them to engage with you. 

financial services advertising

One of the ways you can make your social advertising more relevant is to use external signals to trigger your ads. For example, Skai Social clients can tie ads to weather signals such as rain, temperature, and even pollen count.

Another good tactic to increase relevancy might be the use of dayparting—to pause your ads during low conversion-rate times of the day and to activate them when your conversion-rates are the highest. For example, maybe your data shows that people are more interested in engaging with financial services ads at night, when they’re not distracted by their work day.

Pair social advertising with your television ads

With today’s busy consumers, multitasking is the new normal and the most popular activity on mobile while second-screening is engaging in social media. 

financial services ads

A few years ago, Facebook commissioned a study to better understand the multi-screen phenomenon:

“Mobile and TV are an increasingly irresistible combination. An in-home eye-tracking study Facebook IQ commissioned in the US revealed that 94% of participants kept a smartphone on hand while watching TV, making mobile nearly as common a TV companion as a remote control. The results also showed that viewers focused on the TV screen just 53% of the time, and one of the top reasons they looked away was to use their smartphones.”

Skai Social clients can activate—and take various automated actions on—their social ads based on real-time television signals.

For example, a retail brand whose commercial airs in Baltimore can leverage TV Signals for Social to run the same creative on Facebook or Instagram in the Baltimore DMA. Consumers who happen to be watching the channel at the time of the airing of a commercial might also be reached with a social ad. This activates the power of multi-channel messaging which has shown to increase advertising response rates.

Use Skai Social for best-in-class financial services marketing

Social media marketers need more than loose reporting on brand impressions and engagement. They need to mobilize their audience mix while connecting the dots to real business growth. They need to understand, at scale:

  • The role of social in the broader marketing mix
  • Which new platforms and ad formats are most effective
  • How to navigate new privacy laws
  • Creative and audience strategies

Skai Social delivers for enterprises with Total Social Intelligence. To learn more, schedule a brief demo to see Skai Social’s innovative features.

Book a Meeting of Skai Social

Related Posts

  • Abstract painting representing CPG digital marketing.
    CPG Digital Marketing to Grow Your Online Share of Voice
    Read More
  • Pencil ready to mark meeting and time checklist
    Automated Marketing Tools for Dayparting: 3 Options to Consider
    Read More
  • Master Full-Funnel Social Advertising
    Read More
  • Several people engage on social media platforms with their mobile devices.
    Using Third-Party Audiences in Social Advertising
    Read More
  • Woman on her mobile phone with a web of connections and network with social media.
    Maximize Ad Spend and Save Time With Skai’s Audience Bid Multiplier
    Read More
  • The Skai 5: Five Social Advertising Predictions for 2021
    Read More
  • Share on Facebook
  • Share on Twitter
  • Share on LinkedIn
  • Share via Email
  • Copy Link
    Copied!
Tags: Audience, Create, Facebook, Fin Serve, Kenshoo 5, Mobile, Plan, Social, Target, xPSx

Subscribe to Updates

Media that matters.
Marketing that works.
© 2023 Kenshoo, Ltd. All Rights Reserved.
Privacy Policy. Cookie Policy. Recruitment Privacy Policy.
  • Connected Data
    • Market Intelligence
    • Our Approach
    • By Need
    • By Solution
  • Connected Strategy
    • Dynamic Marketing Mix
    • Budget Forecasting
    • Strategic Consulting
  • Connected Media
    • Overview
    • Retail Media
    • Paid Search
    • Paid Social
    • App Marketing
    • Auditing
    • Expert Services
  • Measurement
    • Incrementality
    • Experiments
    • Cross-Channel Attribution
  • Resources
    • Blog
    • Glossary
    • Case Studies
    • Training & Enablement
    • Developer Hub
Privacy Preference

We use cookies on our website. Some of them are essential, while others help us to improve this website and your experience.

Privacy Preference

Save All

Save

Accept Only Essential Cookies

Manage Cookie Preferences

Cookie Details Privacy Policy Imprint

Privacy Preference

Here you will find an overview of all cookies used. You can give your consent to whole categories or display further information and select certain cookies.

Save All Save Accept Only Essential Cookies

Back

Privacy Preference

Essential cookies enable basic functions and are necessary for the proper function of the website.

Show Cookie Information Hide Cookie Information

Name
Provider Owner of this website, Imprint
Purpose Saves the visitors preferences selected in the Cookie Box of Borlabs Cookie.
Host(s) .skai.io, skai.io
Cookie Name borlabs-cookie
Cookie Expiry 1 Year
Name
Provider Owner of this website
Purpose This cookie stores selections made by the user in the Accessibe tool in order to maintain those settings on future visits. These cookies help us make our website compliant with our obligations under US law.
Privacy Policy https://accessibe.com/privacy-policy
Cookie Name acsbState, acsbReset
Cookie Expiry n/a
Name
Provider Owner of this website
Host(s) skai.io
Cookie Name wordpress_sec_,wordpress_test_cookie,wp-postpass_*, wordpresspass_*, wordpressuser_*
Cookie Expiry Session / 1 Year

We use these cookies to enhance functionality and allow for personalisation, such as live chats, videos and the use of social media.

Show Cookie Information Hide Cookie Information

Accept
Name
Provider Owner of this website
Host(s) .chilipiper.com, skai.chilipiper.com
Cookie Name fs_uid, CHILI_PIPER_CLUSTER, guest-session, _sp_ses*, _sp_id*
Cookie Expiry Session / 2 Years
Accept
Name
Provider Owner of this website
Host(s) .comeet.co, www.comeet.co
Cookie Name visid_incap_, nlbi_#######, incap_ses_, referrer22_00a, incap_ses_1364_2167377
Cookie Expiry Session / 1 Year
Accept
Name
Provider Owner of this website
Host(s) skai.io
Cookie Name moduleFormPardotDownload
Cookie Expiry 30 days

Statistics cookies collect information anonymously. This information helps us to understand how our visitors use our website.

Show Cookie Information Hide Cookie Information

Accept
Name
Provider Google Ireland Limited, Gordon House, Barrow Street, Dublin 4, Ireland
Purpose Cookie by Google used for website analytics. Generates statistical data on how the visitor uses the website.
Privacy Policy https://policies.google.com/privacy?hl=en
Cookie Name _ga,_ga_*,_gat,_gat_*,_gid
Cookie Expiry 2 Months
Accept
Name
Provider Hotjar Ltd., Dragonara Business Centre, 5th Floor, Dragonara Road, Paceville St Julian's STJ 3141 Malta
Purpose Hotjar is an user behavior analytic tool by Hotjar Ltd.. We use Hotjar to understand how users interact with our website.
Privacy Policy https://www.hotjar.com/legal/policies/privacy/
Host(s) *.hotjar.com
Cookie Name _hjClosedSurveyInvites, _hjDonePolls, _hjMinimizedPolls, _hjDoneTestersWidgets, _hjIncludedInSample, _hjShownFeedbackMessage, _hjid, _hjRecordingLastActivity, hjTLDTest, _hjUserAttributesHash, _hjCachedUserAttributes, _hjLocalStorageTest, _hjptid, _hjSessionUser_2229986, _hjIncludedInPageviewSample, _hjIncludedInSessionSample, _hjAbsoluteSessionInProgress, _hjFirstSeen
Cookie Expiry Session / 1 Year

Marketing cookies are used by third-party advertisers or publishers to display personalized ads. They do this by tracking visitors across websites.

Show Cookie Information Hide Cookie Information

Accept
Name
Provider Linkedin
Cookie Name lidc, li_gc, lang, AnalyticsSyncHistory, UserMatchHistory, li_sugr, bcookie, TDCPM, TDID, bscookie, ln_or
Cookie Expiry Session / 1 Year
Accept
Name
Provider Skai
Accept
Name
Provider 6sense
Cookie Name _gd_session, _an_uid, _gd_visitor, _gd_svisitor, 6suuid
Cookie Expiry Session / 400 Days
Accept
Name
Provider Pardot
Purpose Cookie name associated with services from marketing automation and lead generation platform Pardot. The visitor value is the visitor_id in your Pardot account. This cookie is set for visitors by the Pardot tracking code.
Host(s) .pardot.com, pi.pardot.com, skai.io
Cookie Name pardot, visitor_id*, lpv*
Cookie Expiry Session / 10 Years
Accept
Name
Provider Google Ireland Limited, Gordon House, Barrow Street, Dublin 4, Ireland
Purpose Cookie by Google used for conversion tracking of Google Ads.
Privacy Policy https://policies.google.com/privacy?hl=en
Cookie Name IDE, 1P_JAR, NID, SOCS, CONSENT, AEC, _gcl_au, OTZ, test_cookie
Cookie Expiry Session / 400 Days
Accept
Name
Provider Meta Platforms Ireland Limited, 4 Grand Canal Square, Dublin 2, Ireland
Purpose Cookie by Facebook used for website analytics, ad targeting, and ad measurement.
Privacy Policy https://www.facebook.com/policies/cookies
Cookie Name _fbp,act,c_user,datr,fr,tr,m_pixel_ration,pl,presence,sb,spin,wd,xs
Cookie Expiry Session / 1 Year

Content from video platforms and social media platforms is blocked by default. If External Media cookies are accepted, access to those contents no longer requires manual consent.

Show Cookie Information Hide Cookie Information

Accept
Name
Provider Wistia
Host(s) .wistia.com
Cookie Name cb_anonymous_id, _sp_ses.2b40, _li_dcdm_c, __hssrc, _gcl_au, _clsk, hubspotutk, _sp_id.2b40, __hssc, __hstc, _uetsid, _uetvid, _gid, _ga, _ga_GQR109DZ3Y, _lc2, fpi, _ex-pricing-cta, _fbp, cb_group_id, cb_user_id, _clck
Cookie Expiry Session / 400 Days
Accept
Name
Provider Meta Platforms Ireland Limited, 4 Grand Canal Square, Dublin 2, Ireland
Purpose Used to unblock Instagram content.
Privacy Policy https://www.instagram.com/legal/privacy/
Host(s) .instagram.com
Cookie Name pigeon_state
Cookie Expiry Session
Accept
Name
Provider Openstreetmap Foundation, St John’s Innovation Centre, Cowley Road, Cambridge CB4 0WS, United Kingdom
Purpose Used to unblock OpenStreetMap content.
Privacy Policy https://wiki.osmfoundation.org/wiki/Privacy_Policy
Host(s) .openstreetmap.org
Cookie Name _osm_location, _osm_session, _osm_totp_token, _osm_welcome, _pk_id., _pk_ref., _pk_ses., qos_token
Cookie Expiry 1-10 Years
Accept
Name
Provider Twitter International Company, One Cumberland Place, Fenian Street, Dublin 2, D02 AX07, Ireland
Purpose Used to unblock Twitter content.
Privacy Policy https://twitter.com/privacy
Host(s) .twimg.com, .twitter.com
Cookie Name __widgetsettings, local_storage_support_test
Cookie Expiry Unlimited
Accept
Name
Provider Vimeo Inc., 555 West 18th Street, New York, New York 10011, USA
Purpose Used to unblock Vimeo content.
Privacy Policy https://vimeo.com/privacy
Host(s) player.vimeo.com
Cookie Name vuid
Cookie Expiry 2 Years
Accept
Name
Provider Google Ireland Limited, Gordon House, Barrow Street, Dublin 4, Ireland
Purpose Used to unblock YouTube content.
Privacy Policy https://policies.google.com/privacy?hl=en&gl=en
Host(s) google.com
Cookie Name CONSENT
Cookie Expiry 6 Month

Borlabs Cookie powered by Borlabs Cookie

Privacy Policy Imprint