Case Study - Banking on Social Media
We worked with a social enterprise ethical lender whose target market was low-income households who had had bad experiences with doorstep, payday and illegal lenders.
Through extensive client database research, which pinpointed the key demographic as being female, aged 25-45, and observational evidence of those customers’ behaviour - “They NEVER put their phones down!” – we advised that social media should be adopted as key route to market.
The client was dubious – they’d steered clear of social media after a bad experience – but were willing to give it a try. “But what do we say?” they asked. Jo sat down with the client and together they worked out areas where social media activity could be used to encourage responsible financial behaviour, homing in on the celebrities many clients followed.
From there ideas snowballed and the client saw how by linking social media activity to seasons, financial news and celebrity activity, they could engage positively with their client base.
A key aspect for them was the realisation that, in their marketplace, they didn’t need to tweet or post every day. That took the pressure off and helped them relax into using social media in a constructive way for their business.