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Why Twitter Matters in Marketing

DATE - 10/04/2017   |   David Pawsey   |   Blog

With such a rich variety of digital marketing channels available it can be all too easy to overlook Twitter, or perhaps even be dismissive of its value. Yet when armed with the correct strategy, Twitter is one of the most powerful communication channels available to the finance and Fintech sector, writes David Pawsey.

Twitter is now over a decade old and very much established as a mainstream social media channel for most major institutions and companies – just try finding a bank that doesn’t have an account. Yet while maintaining an active Twitter feed should be an integral part of any successful marketing strategy, you also want to ensure that the time and energy invested in it are paying off.

So if you haven’t reviewed your Twitter strategy recently – or haven’t yet created one! – here are three key points to help you reap the most value from your 140 characters (or less):

The number of actual tweets sent each day has remained almost constant since 2013, despite increases in monthly active users.

This seems to indicate that there are potentially lots of users out there who read but never post. But what does this mean in marketing terms? Ultimately, it means there are there are far more readers on Twitter than your engagement stats might initially reflect.

It therefore offers a fantastic platform for demonstrating how engaged your organisation is with latest trends and can help mark it out as a thought leader in your industry. This is achieved by having a good balance of re-tweets - sharing relevant content from other accounts - and creating your own content.

In addition, it builds up a ‘snapshot’ for prospective clients of who you are, what you do and what sets you apart from your competitors. Twitter can even be used to direct these prospective clients to other platforms where they can obtain further information, such as your LinkedIn page, website, company blog or newsletter sign-up page.

With the exception of the over-65s, the majority of people use social media at least weekly.

Which only serves to highlight why consistency is so important. Make sure your strategy includes manageable goals that can be regularly maintained - don’t start tweeting ten times a day then go weeks without tweeting.

And while Twitter may be perceived as a platform dominated by millennials, an increasing number of senior executives are also recognising the value of Twitter. By the start of 2016, 28% of over 45s were using Twitter which is the biggest jump of any of the age groups. Twitter is therefore key for engaging directly with industry leaders, both future and established.

The platform also provides your firm with a valuable monitoring tool for gauging market sentiment. This could be in terms of reaction to macro- and micro-economic trends or even direct feedback on a product launch, or in development.

Twitter analytics can reveal valuable information about your followers, useful for further engaging existing and potential clients. By monitoring their various demographics and key interests you can hone and tailor your content to ensure your interactions are as relevant and engaging as possible.

In marketing terms, Twitter can also be creatively used to engage directly with clients during an event, webinar or roundtable and can be used to monitor just how much of a buzz your event is creating, or created. And why not use it as the ideal channel for company news? It may not justify a press release, but Tweeting a link to your company website or blog with the announcement will tell your readers more about the company and help build-up your unique voice and brand in the process.

1% of accounts are responsible for 20% of all tweets and 85% of all tweets are accounted for by just 15% of total accounts.

Well, you don’t need to be part of the 1% of course but you should be aiming to make your twitter feed as lively, engaging and useful as you can. In turn, you also need to be easy to find. It’s still worth using relevant hashtags to increase your reach – but do your research. For example, your post may be about FX but the #FX hashtag is mainly used by forex daytraders or FX analysis posts rather than organisational updates. Other information will probably be more useful – perhaps a key figure or event name?

And don’t forget that most media outlets now use Twitter to generate story ideas or identify sources. Even if you’ve press released out your news, Tweet it out as well. In the same way, don’t forget that interesting tweets are read and noticed. If you can create an interesting Twitter feed then you can create interesting content for publications as well.

Furthermore, don’t forget to add a personal touch. Include photos from an event or roundtable which not only demonstrate your work in action but helps to put faces to names. And is there a key figure in your firm who may want to run their own Twitter account with more personal observations? Corporate accounts can be hard to relate to so take time to find where your organisation’s voice and personality can come from.

Ultimately, building up a targeted Twitter following of relevant and engaged users does take time and effort – there are no short cuts. But if you produce engaging, relevant content on a regular basis you will generate the types of followers you want. As with any other marketing strategy, you ought to set out with clear objectives of what your organisation would like to achieve, monitor how effective your approach is and then hone and refine your strategy as necessary.

Does your social media strategy deliver real results? If not, talk to MD Consulting today. Or take a look at our video here

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