Making the most of social media
There are 3.8 billion active social media users worldwide1. Every single day there are over 500 million tweets, almost 6 billion Facebook likes2 and more than 100 million photos and videos uploaded to Instagram3. Each of these platforms provides opportunities for your business to build meaningful relationships with customers.
Access your audience
Connect with your customers on a personal level by communicating through social media. Whether you have a basic profile for queries, or run advertising campaigns to generate sales, social media is a unique opportunity for tailored marketing and promotion.
Develop brand loyalty
Turn customers into brand advocates by building natural relationships with your followers. Offer interesting or useful content – an online discount or a sneak-peek at ‘new in’ stock – that adds value to your brand proposition and makes you more personable.
Provide better customer service
Improve customer satisfaction by responding to complaints and queries directly, in a public setting. When done right, this helps to build a positive brand reputation, establish a loyal customer base and reduce strain on telephone support.
Customers don’t even have to leave the platform to visit your online shop now. Avoid the hard sell – social media is most effective when communication and decision-making are organic. Grab attention with eye-catching visuals and customers will be more likely to make a purchase or donation.
Develop a strategy
Before you decide which social media platforms are best for your brand, you need to decide on your objectives. For example, are you aiming to talk to real customers, respond to queries or show expertise in your field?
- Develop a tone that's appropriate for social media – adapt your brand tone of voice to be more casual on social media platforms. You still need to be recognisably you, but avoid being directly promotional or formal. Focus on being approachable and engaging.
- Think about what you want to say – make sure every post has a reason behind it, so your customers will come to trust your content. It’s about quality rather than quantity.
- Determine how quickly you'll respond to complaints/queries - acceptable response times vary depending on the platform, but it's good practice to acknowledge a customer comment within 24 hours.
Share engaging content
Start conversations with your followers and build trust by sharing quality content. This may be useful, entertaining, informative or newsworthy, depending on your brand. Consider sharing:
- Blog posts from your company blog
- Relevant posts from your business partners
- News articles related to your organisation/sector
Use tools to schedule updates and monitor feedback
Online tools and dashboards, such as Buffer†, Hootsuite† and SproutSocial†, make it easy to manage several social media profiles at the same time:
- Schedule posts in advance to work more efficiently
- See when your customers are online to optimise post engagement
- Receive alerts when someone directly messages you
- Monitor comments for specific language
- Collate data about post performance.
Use social media securely
Include social media in your overarching IT security policy to ensure staff use it responsibly and to reduce the chances of someone hacking into your accounts.
†Please note that these are just examples of the types of social media sites and social media management tools available. Lloyds Bank does not endorse the services they provide.
Important legal information
Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc, Lloyds Bank Corporate Markets plc and Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH.
Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.
Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH is a wholly-owned subsidiary of Lloyds Bank Corporate Markets plc. Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH has its registered office at Thurn-und-Taxis Platz 6, 60313 Frankfurt, Germany. The company is registered with the Amtsgericht Frankfurt am Main, HRB 111650. Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH is supervised by the Bundesanstalt für Finanzdienstleistungsaufsicht.
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.
While all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Lloyds Bank for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstances. Specific advice should always be sought in each instance.