The financial industry within the social media platform?

People who use social media platforms are engaging online for a reason, whether it is keeping up to date with their friends, to network with potential employers, or to discover what selfie Kim Kardashian has uploaded.

By Mayfair Bridging.

Everyone has a purpose to why they are on social media and with what they are wanting to engage with. In today’s society social media is now key for communication. Is face to face business really going matter a century from now?

There are currently 3,192,949,985 people on the internet and this is growing by the second. It’s not only social media that’s changing rapidly as technology has developed in such a way that you can purchase your goods in a supermarket using self-check-out or pay for your goods with a contactless card, none of which are using any social interactions face to face.

The financial industry has been a little slow to catch up with social media marketing, but now they have a secure and stable strategy that just keeps getting bigger and better. Many financial firms get too caught up in not wanting to be mind-numbing to their audiences, this usually happens after all of the rules and regulations have been complied.

People are not using social media to be inundated by offers for credit cards or home loans, it is important that financial services companies make themselves useful to the individual, rather than attempting to force feed their product information.

Social media has the potential to build enhance relationships with customers and develop trust, while financial firms are similarly focused on managing relationships and building trust, as well as seeking for new clients and talented employees.

Firms that have a clear business purpose in mind will not only be more efficient in their online interactions, but will also have a better understanding of the risks involved. Regardless of the business purpose underlying the use of social media, it is absolutely vital that a financial services company remains mindful of its record keeping responsibilities under the rules of FCA's as applicable, which does make it challenging for the financial Industry within the social media world. We all know networking is important, and the ever evolving social media platform has made it a necessity to be online.

Mayfair Bridging is doing just that. Already proficient on twitter with over 500 followers. The company has since created Facebook, LinkedIn and Google+ accounts in order to accommodate the hundreds of connections wishing to be associated with the business. Additionally, Mayfair Bridging also have a new website under development and results are already beginning to show. It has led to new enquiries coming through to the business driving and a significant growth in connections as more and more people and companies continue to contact the business directly through social media.