By Laura Redman, Founder and Managing Partner at Perfect Storm CO/LABS
In an era where digital presence is increasingly important, financial institutions have been lagging behind in utilising key social platforms to reach customers. Despite the huge potential of platforms like LinkedIn as a powerful tool for engagement, marketing, and crucial customer acquisition, many banks and financial firms are still treating it as an afterthought, leading to missed opportunities.
So what does a good LinkedIn look like? What are the common pitfalls the financial sector falls into? And how can brands find the missing Link in their social strategy?
The misalignment between communications and marketing teams
One of the central issues faced by these financial institutions on LinkedIn is the disconnect between communications and marketing teams. While the comms department may use LinkedIn to broadcast company updates and internal achievements to raise their industry profile, marketing teams have a different agenda and are tasked with driving brand awareness and customer acquisition, which demands a different approach. Often content falls somewhere in the middle – generic, misaligned and sporadic, resulting in a disengaged audience.
Leveraging LinkedIn as a social network
LinkedIn should not be viewed merely as a platform for corporate announcements; it is a social network designed for professional engagement. Finance brands have a unique opportunity to harness this platform for cutting through and building relationships, sharing valuable insights, and driving customer acquisition in a more strategic manner.
Take the example of Monzo and Starling Bank—two digital-first, startup banks that have mastered LinkedIn’s potential. Their success stems from a clear understanding of their target audience, a willingness to engage in conversations with replies, and a knack for creating content that is platform specific. They treat LinkedIn not as a corporate megaphone but as a tool for building trust, sharing stories, and driving engagement. Brands like EY and Goldman Sachs do this well with both utilising visual content and varying the formats for engagement- from curated powerpoints, to video interviews, to polls, charts, and more traditional blog posts.
Moving beyond pushing out content
To make the most of LinkedIn, finance brands need to adopt a new strategic framework that goes beyond simply being ‘always-on’ and switching to ‘always relevant’. This involves at its core a clear objective for the platform and understanding of the needs and wants of your audience, planning your content for that audience, and following up with engagement and interaction.
Recognising the diverse needs of your LinkedIn audience, from potential customers to industry peers, and future talent. Content should be tailored to provide value, whether it’s through thought leadership, industry insights, or showcasing company culture. The reality is that the face you show the audience is not just a manifestation of the information you want to share, but of the personality and type of business you want to show off.
Planning a coherent content plan is also key. Instead of sporadically posting updates, create a content strategy with key phrases and core messages that aligns with your business objectives and audience interests. This ensures that content is not just relevant, timely, and impactful, but also consistent.
But the platform is not just about broadcasting; it’s about conversation and socialising. Financial brands should actively engage with their audience, respond to comments, and participate in industry discussions. This not only builds trust but also humanises the brand for consumers, which is especially important for financial institutions looking to differentiate themselves from their competitors.
Getting this right can deliver results. It’s not a secondary channel, it’s a strategic tool to reach new audiences. Build a strong social content strategy and they will come.
