Expanding Your Online Reputation – A Starter Guide to Digital Marketing

The FCA has reported that 62% of 18-29-year-olds were following social media influencers online, with 74% of these saying they trusted their advice.

‘This has been coupled with a substantial rise in influencers being used by firms to promote financial products and services. Often these influencers have little knowledge of what they’re promoting. This lack of expertise is reflected in the large number of promotions that are either illegal or non-compliant, making it likely that consumers will see poor quality information on social media.’

Financial Conduct Authority

There is a gap in the virtual market for you to appeal to an audience in need of sound financial guidance.

9 in 10 young followers have been encouraged to change their financial behaviour – a case of potentially misplaced trust.

According to Capital One, 80% of financial content on YouTube has been created by a figure with no qualifications.

‘Only 21% of all videos analysed were created by someone with a financial qualification (recognised by the Financial Conduct Authority to meet the requirement to provide financial advice) meaning almost 80% of financial content was not given by a financial advisor or someone with a relevant qualification. This highlights the risk taken when taking advice shared on the platform at face value.’

Capital One

With such a large digital market to access, you have the ability to guide those seeking reliable financial advice, increasing your leads and reputation. If you haven’t optimised your digital presence yet, look below for some tips.

Tailoring Your Online Content Effectively

According to Facebook, content creators have a grand total of 1.7 seconds on average to capture the attention of mobile phone users.

Your online content must be precise and tailored to ensure you’re resonating with the right audience, or you’ll lose their attention.

Different platforms possess ranging demographics, requiring a unique approach to each. You may not have time to spend significant amounts of time on every platform, so it’s best to target the ones that hit your demographic. See different age ranges below.

Video content is important as it helps to portray complex messages whilst compressing the content into a concise format. Platforms such as TikTok and Instagram Reels help to convey your ideas and advice effectively online, whilst keeping the video runtime to a minimum.

It’s important to think of quick, snappy captions and titles that sum up the video in a few words. The more engaging, the better!

Utilise video crafting applications such as Canva or use templates online to create your own video content. This adds an extra medium to your sales services and helps appeal to a unique audience.

Try talking to the camera and discussing an important topic for people looking to protect their homes. Add in a few tips and advice to accompany the talking point and try edit it all into a short informational video.

Building Up a Review Profile

Reliability. It’s a word that holds significant weight in the consumer world. When a customer pays you for services, they expect a reliable professional they can trust to help with their decision making.

Sites such as Trustpilot, Google Reviews and Facebook provide a digital trail of customer experiences that validate your status as a consistent source of knowledge and guidance, with genuine testimonies providing reliable evidence.

Maximising these reviews enhances your chances of targeting new business. To put yourself in the best position for these sites, read our guide on becoming a Consumer Champion to expand the positive experiences your clients will have.

Separating Business and Personal Profiles

Building up a business profile on social media requires boundaries to ensure you’re coming across in the right way.

We all have interests and hobbies, but keeping them separate from your business is essential to providing a professional service.

It’s alright to show a bit of personality in your posts, and it can even be used to help sell your business, but there’s a line that defines personal accounts and professional pages.

Making your personal accounts private can ensure your friends and family still connect with you, but potential customers can connect with you via public, professional accounts.

Engaging with Your Audience Through Social Media

It’s one thing to post content consistently, but you need to actively engage with your followers to increase your chances of converting potential clients into concrete business.

• Dedicate a small amount of time each day to respond to messages, emails, and other essential communication types. Consistently interacting with your followers increases your reputation as a reliable figurehead for their insurance needs.
• Sharing relevant financial tips and industry news is a good way to break down any misconceptions around insurance whilst remaining active on socials.
• Encouraging discussions and feedback to build a community around your brand! Talk to other advisers you know, or industry figureheads to expand the knowledge and outreach.
• As part of the client onboarding process, ask your customers to follow you on social media. They can connect with you and get in contact with queries and questions, as well as following you for news and updates.

References

FCA | Guidance consultation. Financial promotions on social media

Capital One | Credit Blog

Statista | Active social media audience in the United Kingdom (UK) in January 2024

Facebook | Capturing Attention in Feed: The Science Behind Effective Video Creative