How Financial Brands Can Benefit From Using Pinterest
Pinterest was an immediate hit among fashion, food, and design brands, and we’ve seen how others have benefited. With incredible growth and a wealth of success stories, it’s hard to believe that there are still some industries that haven’t embraced it yet. Currently, only a small portion of financial institutions are active on the platform. They might not seem like a match for it, but several financial brands are doing great things with Pinterest.
This is concerning because women, who influence 85 percent of all purchase decisions, make up the majority of the site’s user base. Of Pinterest’s 70 million members, roughly 80 percent of them are women.
The platform has revolutionized the way consumers share information, and making use of it is an innovative way for financial organizations to offer customers visually compelling information about their brand. Here are some themes to focus on and examples of financial brands that have successfully leveraged Pinterest’s popularity.
Create Pins Around Life Stages and Financial Concerns
While your Pinterest account should be a reflection of your brand, that doesn’t mean every pin should be self-promotional in nature. Being successful on any social network requires finding that happy balance between sales jargon and content that consumers will find valuable. So although some self promotion can be useful, your pinboards shouldn’t be loaded with marketing materials.
For financial institutions, rather than pinning your latest credit card offer, consider sharing your blog post about tips for students looking for their first credit card. Consider who your customers are and tailor your content to meet their needs. Money might not buy happiness, but it does provide choices and opportunities. As such, major life decisions are often made with an individual’s current financial situation in mind.
In addition to providing tips on establishing credit and avoiding credit scams, your Pinterest profile could also include helpful pins regarding student loans, financial aid, and dealing with debt.
The Delta Community Credit Union, for example, addresses credit myths, student loans, and even money-saving tips for back-to-school shopping. Although it might not have the same reach of global banks, the DCCU is clearly on the right track in terms of content and customer support.
H&R Block offers similar content in its Teaching About Money: H&R Block Dollars & Sense board. Here the company shares interesting statistics and important lessons helping to prepare students for the expense of school and surviving in the “real world.”
Teenagers and students aren’t the only ones who need financial help. Consider all of the people planning weddings, honeymoons, or having children — those can amount in some major debt. If fashion and travel brands can find success among these target groups, then there’s no reason why financial organizations shouldn’t also play a part.
For instance, Capital One and American Express both maintain pinboards for brides on a budget, world travelers, and bucket listers. Both brands do a great job of connecting their messaging with an overall goal, and the pinned visuals could be repinned on anyone’s inspiration, savings, or wedding boards.
The Firefighters Community Credit Union even dedicated a pinboard to teaching kids how to be money-smart. This is probably one of the most well-rounded Pinterest profiles we’ve found for a financial institution. From budget basics and banking 101 to frugal holidays, the FFCCU has a pin for just about every stage of life.
Pinning for retirement is full of opportunities for financial brands. You could pin about everything from retirement party ideas, decorations and gifts to tips on saving for retirement and investment goals. Additionally, you can create a pinboard dedicated to senior excursions, fun activities for grandchildren, and so on.
While Pinterest doesn’t have a huge senior citizen population, that doesn’t mean younger professionals aren’t thinking about it. And thanks to Pinterest’s easy sharing features, your pins can quickly end up in the inboxes, Twitter streams, and Facebook timelines of your target audience.
Pinterest offers a lot of opportunities for brands across a wide range of industries. The number of topics that financial institutions can run with on the platform are endless — you just have to think creatively. As long as you’re provide your customers with educational pins and information that they truly need you can’t go wrong. For more details on using Pinterest for business, visit business.pinterest.com.