Do any of you have childhood memories of learning to play the piano? I’m sure many of you do. Regardless, imagine being a small child and sitting down at the piano to learn your latest musical piece. At times you may become frustrated because you can’t get it right. Some parts may be easier to accomplish than others. Sometimes navigating your tiny hands across the keys seems impossible. But each day you sit down as you are told to practice. Your mother’s words echo in your head, “Practice makes perfect!”

Those words are exactly what society has taught us. We have been taught that practice makes perfect. With social media being still being fairly new to banking institutions, it’s a given that we’re going to drop the ball sometimes. It’s OK. Practice makes perfect. We need time to learn, and we’ll likely make some mistakes along the way. Here are three content strategy errors financial institutions continue to make on social media.

Posting What Your Bank Wants, Not What Your Audience Wants

Banks tend to believe that their social media isn’t working because their audience isn’t interested. They tend to neglect the fact that customers aren’t interested in the content banks are providing. It’s not so much that they don’t want their banks on social media.

Many banks still believe they should be providing financial information and tips. However, consumers have expressed that this type of content is not what they are most likely to interact with. There’s a lesson there. The key to seeing success is to measure what your audience interacts with to recognize what trends are occurring.

Consumers want their content catered to them, not the other way around. Are you asking yourself “Is my content engaging?” or “Does my audience care?”

Just Posting And Not Engaging

Social media is a conversation between individuals with the same interests. Banks that just continuously post and do not engage with their customers are missing the point of social media. And it will show. It will be reflected with the amount of interaction they get.

For example, if you went to a bank’s Twitter page and noticed that the only time the bank posts is to announce something about its own bank, how likely would you be to use it and/or visit again? Chances are you are not as likely as if you saw tons of engagement. Seeing tons of engagement would allow your consumers to know that their questions, concerns, or comments were valued by the bank. They would know they’d be provided with useful information.

It would show that the bank was more interested in helping its customers than in self-promotion. The bank’s Twitter account would become a resource that consumers found useful.

Posting The Same Type of Content

Many banks post the same type of content over and over again. However, consumers want to see variety. While one day they might be interested in a picture, the next day they may be interested in a blog post you have written. Either way, they want to see all different types of content provided to them.

In addition to providing different types of content, each individual social media handle should have different types of content. If your bank posts the same thing on Facebook and Twitter, there is no reason for a customer to follow you on both.

If banks have a separate strategy for each platform, and different goals, they can use their social media platforms successfully to increase their following. And if different types of information are provided on each platform, then each platform has been assigned value. A social media platform with value is a successful one.

These three content strategy errors on social media are the main reasons it continues failing for banks. Should we begin to understand our mistakes and make strategies to change and improve them, we will begin to see ourselves get better.

Just like our childhood piano-playing self, the more we practice, the more we’ll begin to see small improvements. It will take some time, but once we begin to understand what content our customers like to interact with, how to engage in conversation, and how to strategize for each platform, we’ll see improvements above and beyond our expectations.

We may have sweat on the piano bench, believing we’d never get any better. Our mothers knew better. They knew that with a little practice, we’d get closer and closer to perfect.


What’re your thoughts on these errors? Does your bank still struggle with them? Have you moved past them and experienced great results? Lets us know in the comments below!