5 Tips for the Finance Industry to Improve Online Reputation Management Strategy
Paul Bloomfield
The finance industry is increasingly reliant on online reputation management services to protect and improve online presence. Having an effective online reputation management strategy can help financial services companies maintain credibility and build trust with customers.
With the rising importance of digital marketing, it has never been more important for finance companies to have a comprehensive online reputation management strategy in place. Millennials, who are now at the age where finance and financial services are more relevant to them, are more likely to use “GAFA” (Google, Apple, Facebook, Amazon) to search for everything, including financial services.
Over 50 percent of those searching for financial services have no specific brand in mind. In such a saturated market such as the finance space, the comparative presence and narrative of companies is vital to attracting and engaging new customers, while retaining those who are already on the books. Brand loyalty, afterall, is not what it used to be.
ORM in the Finance Sector: Things to Consider
There is a number of ways that finance companies can use content-focused, digitally minded ORM to improve their online reputations:
01
Google Yourself Regularly
In today’s digital world, it is essential for financial services to monitor their digital footprint and take control of their online reputation. One of the most important steps to achieving this is to Google the brand regularly. This is especially important for those in the financial services industry, as the smallest of details can have a major impact on online reputation.
By searching for the name of the financial services business online, it is possible to get an idea of what potential customers and clients will see when they search. If there are any negative reviews or articles about the company, it’s important to address them as soon as possible.
02
Create and Maintain a Positive Professional Profile
Creating and maintaining a positive professional profile is an essential part of online reputation management for financial services companies. A well-maintained professional profile can help a company build trust with customers, establish credibility within the financial services industry, and protect its reputation against negative content.
Creating a professional profile requires a few steps. First, choose the best platforms for the business. Depending on the type of services offered and the target audience, different platforms may be better suited. Consider creating profiles on professional networking sites such as LinkedIn or setting up accounts on review sites such as Yelp.
It’s important to keep up with reviews. Research shows that 85% of people trust online reviews as much as a personal recommendation. Responding promptly and professionally to both positive and negative reviews will show customers that their feedback is appreciated. This will help maintain a good public perception online and strengthen customer relationships.
03
Publish Relevant and Thoughtful Content
Online reputation management services go beyond just monitoring a brand and responding to negative reviews. It’s also important to publish content that is relevant and meaningful to the target audience. Creating engaging content helps to ensure the business stands out from the competition, showcases the work the company does, and positions senior management and other team members as an expert with the industry.
Content can come in many different forms, including blog posts, website copy, whitepapers, podcasts, infographics, social media posts, videos, and more. When crafting content for financial services companies, it’s important to make sure that it’s not only accurate but also clear and understandable.Strive to create content that is engaging, informative, and helpful to the audience.
Moreover, when creating content it’s essential to focus on topics that are important and relevant to stakeholders. Topics should be related to the business, the financial services industry as a whole, and any trends or developments within the sector. Creating content that provides useful information and insight into the industry, shows expertise while establishing trust with potential customers.
In order to maximize the content’s impact, it’s important to also ensure that it is optimized for search engines. This means using keywords in titles, headings, and throughout the content. Doing this will help ensure that content ranks higher in search engine results pages and that potential customers can find it easily. Creating and promoting relevant content is an important part of online reputation management for financial services companies..
04
Manage Your Social Media Accounts
Social media is a key part of ORM strategy, and one of the best ways to protect a brand and maintain a positive presence is to actively manage all social media accounts. Nearly 25 percent of people between 16 and 24-years-old use a financial service and 70% of them are planning for retirement already. Meanwhile, while millennials use Google, most of Gen-Z look to social media for their information.
Not only does a good social media presence allow for direct engagement with current and potential stakeholders, it provides controlled links that rank well on the first pages of Google. Creating a comprehensive content strategy for each social platform is essential. This should include everything from the type of content to share, to when to post, how often, and what tone or style of communication to use.
Posting, however, is just the start. Be sure to respond to all comments, questions, and messages quickly and in a professional manner. A timely response is essential for building relationships with customers, as well as developing trust, while continually monitoring accounts for any negative comments about the company’s services or products. If negative responses appear, it’s important to address them immediately and find a solution that is satisfactory for both parties.
05
Analyze and Evaluate Efforts
Keep track of online reputation management efforts. Analyze the effectiveness of campaigns and make adjustments as necessary. This will help to understand what type of content resonates with your customers and gives insight into how to further improve online reputation management services.
Taking the time to manage an effective content strategy, will maximize the impact of the online reputation management services, protect financial services business, and gain control over important digital ‘real estate’ (those important positions on Google pages).
When Should Finance Companies Start ORM?
There is a common misconception that ORM is only needed as a method of crisis marketing, however companies should consider implementing ORM as early as possible to mitigate potential issues, protect their brand and promote customer confidence.
As a highly regulated and competitive sector, trust and credibility are essential for the finance industry. Having a positive online reputation can have a major impact on a company’s ability to attract new customers and build relationships with existing ones so it’s important for financial services companies to proactively manage their online reputation and ensure that it remains strong.
ORM can be a complicated process and often requires dedicated resources. However, the potential rewards can make the effort worthwhile. By taking proactive measures to manage their online reputation, financial services companies can strengthen customer trust and loyalty, ultimately helping to increase sales.
Percepto has been creating online reputation management strategies of companies across the finance and financial services industry since 2007. The team’s expertise branches across a number of marketing disciplines, from which we draw to create bespoke strategies for each of its clients.
Stay Ahead of Competition
As the financial services industry continues to grow, organizations must stay aware of their online reputation. By investing in content ORM services, financial services organizations can actively protect their brand and ensure that customers trust them.
Through regular monitoring of Google results, creating and maintaining a positive professional profile, publishing relevant and thoughtful content and managing social media accounts organizations can build a strong online reputation and make sure they stay ahead of their competition.