Social Media Management Tools for Financial Services

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Financial service companies are very active when it comes to advertising their products and services. Therefore, it comes as no surprise that, for many of them, social media is being increasingly used to help them communicate better with their existing clients and to reach new customers. However, for social media strategies to work, you need not only a plan and engaging content, but also the right tools to that help with the different core areas of social media management.

The financial service industry is diverse and can refer to a number of different businesses, such as banks, mortgage and loan officers, or credit unions. While there are differences in terms of target audiences, marketing approaches, and business models across many of these businesses, they share many of the same goals in terms of social media. From advertising their products, keeping existing clients informed, and as a customer service channel, social media is a very important tool for these companies. What makes social media management complicated is the fact that many financial services companies have a presence on multiple networks and can have dozens or more profiles that they ended to manage.

The diversity of tasks and sheer number of networks and profiles to manage means that many social media teams in the financial services world focus on improving the speed, efficiency, and organization of their work. This is the makes finding the right social media tool for financial services companies so important. In this case, we are here to help to you navigate the expansive list of social media tools available to you. 

This article will be about taking a structured and informed look at the core features social media marketing management tool for general financial brands/services, credit unions, loan originators, mortgage officers, and banks. This includes an overview of why social media is so important for the financial services world and the various aspects of social media management that you need to keep in mind. Our article will also take a look at all the different tasks and challenges there are with social media management. In ending, we present a list of social media tools that you can consider if you are a financial service business. 

Why Social Media is Important in the Financial Services World 

Social media represents an important channel for financial services companies, but also presents a number of challenges. For one, there is a lot of competition just in terms of profiles trying to get attention and also a strong social media presence from financial services brands that you need to complete against. Second, there is a constant requirement not only for ways to build your brand, but also to protect it online. Social media is an important channel in this regard. Third, customer service and answering customers’ questions is constantly being done through social media. This means that teams need an organizational structure and strategy to manage all of this on social media. Lastly, keeping people updated on the latest news and services/products should also be a priority. For financial service companies, this is about more just showing up in their feeds but getting them to engage with your content and, in the best cases, helping you share your message with others. 

In addition to these challenges, there is also a constant need to continually increase reach, improve overall KPIs, and create a scalable and sustainable social media presence. This means that social media teams need to invest time in creating and planning content, conducting analyses that help guide them in the creation of this content, and organizing how to manage communities that are following various profiles.

All of these tasks make the use of social media management tools for banks, credit unions as well as financial services and brands a necessity. With that being said, there are some important strengths that social media tools should have for these types of businesses to help them meet these challenges. The question then becomes how exactly you can navigate the different tools on the market and assess the different features that you need. In order to help you with this, we have put together an overview of 5 key areas that you should focus on when researching social media tools for financial service companies:

  1. Planning, Posting, and Content Management
  2. Content Optimization, Benchmarking, and Tracking
  3. Community Management and Customer Service
  4. Researching Trends and Developments
  5. Monitoring Brand/Company Mentions
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1. Planning, Posting, and Content Management

When it comes to finding a social media marketing management tool for mortgage and loan officers, banks, and general financial brands, publishing capabilities usually come to mind first. However, while we often focus on the end result, there are several steps that you need to first take to create engaging social media posts. In many ways, careful planning and teamwork is equally important as the creating the content itself! That is because teams need to work well together through sharing ideas, coordinating tasks, and making sure that deadlines are met. After all, the entire post creation process most likely involves more than one person, so project management features are important to keep everyone on the same page, especially if there are multiple networks and profiles that you are managing. For this reason, your social media publishing tool should excel in terms of planning and project management features.

However, that is not all. Social media managers working in the financial services industry most likely need to publish content across many different profiles and social media networks. This means not only curating content from a centralized tool, but also being able to schedule posts to go out at certain times and target certain audiences. Therefore, multi-posting capabilities are a must for many financial service companies. This should include the option to automatically plan and post content in the future so you don’t have to manually doing these tasks on a regular basis.Lastly, the rise of AI technology has created new possibilities for content creators on social media. Having a tool that integrates AI capabilities for both content and image creation can assist you in getting started on an idea, generate just the right image you are looking for, and help you accelerate the entire post creation process. While many tools may claim to have AI features available, make sure that you can use it to create amazing content.

2. Content Optimization, Benchmarking, and Tracking

Social media tools are often associated with analytics, and it is no surprise that this is an important aspect that those searching for a tool concentrate on. This is because social media analytics tools can provide helpful guidance as to what makes content successful, and what is working for them in terms of reaching their target audience. Moreover, in today’s social media world, it is essential that you post engaging content that resonates with your audience. This is why the financial industry invests a lot of time and effort into their social media activities. Therefore, social media management tools for banks, credit unions, and financial services and brands need to provide dynamic, data-based analytic insights to help their teams optimize their content. 

Using data to develop your content strategy in a competitive environment is essential. Therefore, having access to a social media tool with powerful analytic features is a must. Three areas you should look at closely at relate to optimization analyses, benchmarking capabilities, and the number of profiles you need to track. 

Content optimization is one of the main uses for social media analytics, and your analytics tool should help you find ways that increase your reach, engagement, and number of followers. Most of all, it should help you research various aspects of a post and show you what to optimize in each. Optimization can mean a number of different things, depending on what you want to accomplish. Some of the most popular analyses include finding the best times to post, top-performing hashtags, and best posting formats. In reality, there is a long list of optimization analyses you can do depending on your goals. In looking at different social media analytics tools, you should be sure to check that you have flexibility when it comes to choosing the charts/tables/graphs you can use, be able to adjust the time period of your analysis, and can analyze the metrics that matter most to you. 

Benchmarking is important for a number of reasons. First, it shows who you should look closely at what profiles in your field are top-performers so you can more closely analyze their strategy and content. There are important competitor analysis research steps to follow in this case. Second, benchmarking is essential for accurate goal setting. The most meaningful comparisons will be done with similar profiles in your industry to see where you currently stand. Lastly, benchmarking helps you assess your progress relative to your competitors when you do long-term tracking. This can help to see if your optimization activities are actually working. 

In terms of the overall tracking, optimization analyses, and benchmarking, one key thing to keep in mind is the limits on the number of profiles you can analyze with many social media tools. This is because the more profiles you track, the more data points you have to analyze and the more competitors you can add to your benchmarking report. Unfortunately, many tools like the overall number of profiles you can track. When researching various social media tools, always look to see what limits there are for profile tracking. If you have dozens or even hundreds of profiles that you want to track and analyze, it probably makes sense to look for a tool that allows you to track an unlimited number of profiles

3. Community Management and Customer Service

Being reachable in the banking, loan, and mortgage industry, or in the entire financial services industry for that matter, is crucial. Nowadays, social media is one of the conduits in which people can ask questions or make an inquiry. The overall number of messages your profiles receive can be high, especially if you have many different social media profiles across different networks. Moreover, your profiles are there to help you show off your brand and business. Therefore, comments and posts made on them should always be monitored in case unwanted messages show up there. 

This goes to show that having a well-thought-out community management and moderation plan is not only a recommendation, but is required in the social media world. Your team is there to not only grow your brand, but also protect it. This can be difficult since social media moves fast, and new comments, messages, and posts are constantly coming in. Social media community management tools can help with this challenge on a number of levels. 

First, having the ability to centrally manage their responses to the inquiries they receive from their social media activities should be a strength of social media management tools for banks, credit unions, loan offer and originators, and financial services and brands. Moreover, larger banks and financial institutions may have an entire team responsible for community management. 

All this is to say that the need for organization cannot be underestimated if there are many different profiles to manage. This makes the centralization and organization features of any community management tool essential. For starters, your tool should allow you to receive and manage all these comments and messages centrally in one easy to use platform. Additionally, this platform should allow you to organize these messages and comments into different either by topic or assign them to specific team members. These types of features are important since you may have community managers or customer service support staff working together side by side to manage messages that are organized according to what task needs to be done.  

One of the challenges when it comes to social media community management these days is that while the use of social media is increasing, teams may not be growing at the same rate. Therefore, the amount of work increases, but the size of the team stays the same. This makes efficiency features very important when shopping for a community management tool. Be on the lookout for community management tools that offer AI features that can help you write responses, the ability to set up automated workflows so you don’t have to keep doing repetitive tasks manually, as well as the options to create templates so you can use the same reply with just the click of a button. 

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4. Researching Trends and Developments

Those who are managing the social media presence for various financial service companies are always on the lookout for topics and trends that their target audience are interested in. First, this is not always as straightforward as it may initially seem, since trends may be different in different fields, industries, countries and languages. Second, there may be specific trends you want to look at when it comes to social media, whether it relates to the top-performing posts in your industry during a specific time period, what hashtags are currently trending, or sentiment/opinions of general topics. 

Your social media research tool should give you the ability to research trends on a post level, in that you can see what posts are trending according to the metric you select. Moreover, it should also allow you to research wider trends for hashtags, posting times, sentiment, etc. When looking at social media research tools, make sure that you can filter your searches according to keyword(s), country, and/or language so you are able to effectively zero-in on a certain subject, country, or language.

If you work for a financial services company that is utilizing these types of research tools, be sure to also keep in mind that you can use them to find influencers to work with. Finding the right influencer for your business is essential for successful collaboration, and your social media tool should give you the insights you need to make an informed decision. Research tools can give you in-depth insights into the performance of potential influencers so you can better assess if they are a good fit for your business.  

5. Monitoring Brand/Company Mentions

Brand and reputation management is incredibly important in the banking, mortgage, loan, and broader financial services world. Trust is the key in so many banking, loan/mortgage, and financial planning fields, so knowing what people are saying about your brand or company should be a priority. This makes social media monitoring particularly important as part of a social media monitoring tool.

The challenge here is that monitoring is rather difficult since people are talking about your business or brand on the entire web, just not social media. For this reason, the first thing you should look at when shopping for a social media monitoring tool for financial brands is that it has extensive coverage of the social media networks and various websites. Check to make sure the social media monitoring tool you are actually can monitor the social networks that matter to you and has decent coverage on the internet as a whole.

The other important factor you should consider is looking at the analytical insights that a monitoring tool can give you. This includes the analyzing the reach of mentions, sentiment, as well as where various mentions of your brand originate. Analytical insights are especially important if there are hundreds or even thousands of mentions, so it is helpful to have ways to analyze this large amount of data. 

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Finding the Right Tool Social Media Management Tool for Financial Service Companies

So far, we have gone into detail about the different areas of social media management and the various features of a social media tool you should look for. The next part is up to you, which means doing your research and finding the social media tool that best fits your needs. You should always start with a list of features you need and want in the areas we detailed above. 

However, you still have to go out and do a search, and this sometimes may require some time. In order to help you speed things up, we have complied a list of, in our opinion, the 9 top social media management tools for financial services companies:

  1. Fanpage Karma
  2. Sprinklr
  3. Buffer
  4. Hootsuite
  5. Agora Pulse
  6. Sprout Social
  7. Swat.io
  8. Metricool
  9. Zoho Social

1. Fanpage Karma

As a social media management tool for financial services companies, Fanpage Karma really shines. As an all-in-one social media management tool, it is especially designed to help those in the financial service industry efficiently manage and analyze their social media presence. Fanpage Karma offers unlimited profile analysis and tracking across major networks, allowing users to compile large data sets that help take your content optimization and competitor analysis activities to the next level. Overall, its advanced analytical features provide customizable reports and insights, making it easier to track performance, compare metrics, and refine content for better engagement.  

The platform offers robust publishing and content management capabilities, including a centralized content calendar that supports the scheduling of different types of content. Automated publishing is available across multiple platforms, and collaboration is streamlined through workflows that allow for the collection, approval, and delegation of content ideas. Fanpage Karma also includes a central inbox for community management that consolidates messages, comments, and mentions from multiple networks, while AI-powered tools assist with sentiment analysis and automated responses.  

With additional features such monitoring, influencer research, and trend analysis, Fanpage Karma provides a comprehensive solution for companies looking to improve their social media performance. The 14-day free trial allows users to fully explore its capabilities, making it an excellent choice for financial services businesses looking to streamline social media operations and maximize their online impact. It also offers a free weekly webinar that gives you an in-depth overview about how to use the tool.

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2. Sprinklr

Sprinklr excels in many different aspects of social media management, especially in analytics and social listening. It offers businesses a comprehensive set of tools to monitor online conversations, track customer sentiment, and stay informed about the latest social media trends. By leveraging AI-powered insights, Sprinklr enables teams to refine their strategies, identify opportunities, and respond to audience needs with precision. 

In addition to social listening, Sprinklr provides a wide range of features for managing social media accounts, including content scheduling, campaign performance tracking, and benchmarking against competitors. Its AI capabilities help users optimize posting times, tailor content for specific audiences, and improve overall engagement. 

Sprinklr’s pricing reflects its focus on providing advanced tools for medium to large businesses. The basic plan starts at $199 per month and includes basic features such as profile tracking and performance analytics. Although its pricing seems to be mostly geared toward medium to large businesses, the comprehensive features make it a strong choice for those prioritizing advanced, data-driven strategies.

3. Buffer

Buffer is a solid choice that helps users streamline their online presence with ease. It provides a clean, intuitive interface for scheduling posts, managing content, and analyzing basic campaign performance. Ideal for individuals and teams looking to maintain an organized and consistent social media presence, Buffer offers straightforward tools that are easy to use regardless of experience level. Whether for personal use or professional teams, Buffer offers an accessible and dependable tool for managing social media effectively.

The platform offers a freemium version as well as relatively low-cost paid options that allow users to access core features without upfront costs, making it an accessible option for those with simple social media management needs. Paid plans unlock additional features, such as advanced scheduling and analytics, making it scalable for growing businesses or those requiring more functionality.

4. Hootsuite

Hootsuite is a feature-rich social media management tool designed to help users effectively manage their online presence. It offers a centralized platform to manage all aspects of social media, from scheduling and audience engagement to performance tracking. Its customizable dashboard and broad functionality make it suitable for businesses of all sizes, allowing users to tailor the tool to their specific needs while staying organized and consistent in their social media efforts.  

One of Hootsuite’s standout features is its ability to integrate multiple social media platforms into a single interface, making it easier to manage accounts and monitor activity in real time. The platform also includes audience engagement tools that allow users to quickly respond to messages and comments. Hootsuite’s reporting capabilities help users understand the impact of their campaigns by tracking key metrics and providing insights to refine future strategies.  

Hootsuite pricing starts at $99 per month and provides access to basic features such as post scheduling, analytics, and limited profile tracking. For businesses with more advanced needs, premium plans offer tools for competitive analysis, advanced reporting, and collaboration options for larger teams. While the entry-level cost may be higher than some other solutions, the breadth of features and scalability make Hootsuite a valuable investment for those seeking a professional, all-in-one social media management platform.

5. Agora Pulse

Agorapulse is a comprehensive social media management tool designed to help users streamline their social media workflows while gaining valuable insight into their performance. The platform offers a wide range of features including publishing tools, advanced analytics, reporting capabilities and competitive benchmarking. Agorapulse’s detailed metrics and trending analysis tools make it a great choice for companies looking to track their social media performance and refine their strategies based on data-driven insights.  

One of the standout aspects of Agorapulse is its freemium version, which offers an accessible starting point for individuals and small teams. This plan allows users to manage up to three profiles and use the platform’s basic features. For users who require more advanced features, Agorapulse offers tiered pricing plans to meet different business needs.  

It’s important to note, however, that tracking additional profiles beyond the 10 included in the Standard, Professional and Advanced plans is an additional $10 per profile per month. This structure makes Agorapulse scalable for companies with moderate needs, but can add costs for businesses managing a significant number of profiles, depending on their needs. Nevertheless, Agorapulse remains a strong option for those looking for a feature-rich and reliable tool to improve their social media management. 

6. Sprout Social

Sprout Social is a versatile and feature-rich social media management tool designed to help businesses optimize their online presence. It offers a wide range of capabilities, including analytics, publishing, and more, all within one easy-to-use platform. These features enable businesses to monitor performance, streamline workflows, and foster meaningful connections with their audiences across multiple social media platforms.  

One of the outstanding aspects of Sprout Social is its focus on providing actionable insights through robust analytics. Organizations can measure the success of their campaigns, track performance metrics, and identify areas for improvement, making it easier to refine strategies over time. 

While Sprout Social offers significant value, its pricing structure reflects its focus on providing advanced features for organizations with growing social media needs. Plans start at a premium price, with costs increasing based on the number of users and additional features required. For organizations looking to invest in a tool that prioritizes analytics, collaboration, and comprehensive social media management, Sprout Social is a strong choice that can scale with your needs.  

7. Swat.io

Swat.io is a social media management tool that can be used by businesses of all sizes. It has a flexible pricing model, which means that the cost depends on the number of profiles and users included in your plan. Swat.io is great for publishing content, and it provides users with reliable tools to plan, schedule, and manage posts across multiple platforms. Its interface is easy to use, and it has powerful publishing capabilities. This makes it a reliable option for businesses looking to streamline their social media efforts.  

While Swat.io has everything you need to get started, it’s important to note that its advanced features, like detailed analytics and performance insights, are only available on higher-tier plans. This means that users on more affordable plans might have limited access to insights and reporting. For businesses or individuals with a lot of profiles, the costs can go up a lot, as more profiles and users cost extra.

Despite these considerations, Swat.io is a great choice for businesses that need to publish content and organize their workflow. Swat.io can grow as your needs change, so it’s a good choice for companies of all sizes. It’s a useful tool for managing social media. Swat.io can adapt to different needs, so it’s a valuable addition to any social media strategy.  

8. Metricool

Metricool is a versatile social media management tool that offers a freemium option, making it accessible for users starting out with social media strategy. With the free plan, users can analyze up to five competitor profiles and manage their own social media presence across platforms. This entry-level option provides the basics needed to begin organizing and optimizing online activity.  

And if you need a little more, they’ve got paid plans that’ll give you more features. The paid plans include unlimited post scheduling and better reporting options. These features make Metricool scalable for growing businesses or agencies managing multiple accounts and brands. Its user-friendly interface and range of functionalities make it a valuable resource for individuals, small businesses, and teams looking to streamline their social media management and enhance their online presence.  

9. Zoho Social 

Zoho Social is a social media management tool that offers a bunch of features to help businesses manage their online presence effectively. The platform has solid publishing capabilities, so users can schedule and post content across multiple platforms without any difficulty. It also has reporting tools that let users analyze social media performance, track engagement metrics, and gain valuable insights to optimize their strategies.  

One of the key advantages of Zoho Social is its affordability, with plans designed to cater to different budgets. These options make it accessible for small businesses and individuals looking to get started with social media management. The platform supports multiple users and profiles, making it scalable for teams or growing businesses that require collaboration and broader management capabilities.

Zoho Social’s combination of publishing, analytics, and budget-friendly pricing makes it a versatile choice for businesses of all sizes. From scheduling content to analytics, Zoho Social provides the essential tools needed to manage social media activities efficiently and effectively.

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