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Facebook Ads: The 3 Best Targeting Options for Financial Institutions

Meredith Olmstead
May 7, 2018 11:50:00 AM

Amazing Targeting Options for Facebook Ads - These approaches are PERFECT for Financial Institutions!

One of our main goals with social media marketing for Financial Institutions is to help them reach new potential members/customers with the exact information these people might already be looking for. Building relationships around mutual benefit is one of the best ways to grow an audience that might be interested in becoming a customer in the future.

For this reason we are constantly working to improve our targeting options for clients, and one of the best places to do this is with Facebook Ads. Their digital ad targeting options currently remain UNMATCHED!

Here’s a sample of some of the methods we’re currently employing that work specifically well with Credit Unions:

1. Targeting Small Business Owners:

You can actually target users who have either self-identified or who have online habits that Facebook has linked to small business owners.

You can also target Facebook Page Admins and then narrow this geographically to reach those who might run Facebook pages for businesses in your area of service.

We are using these methods to help one CU client grow and engage with small business owners online, and eventually we hope to connect these efforts to an increase in overall business deposits and new business accounts.

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2. Target Your Competition!

With behavior targeting you can actually find a specific demographic who is or, more importantly, is NOT a customer.

National bank customers are a great group that most Credit Unions and Community Banks should try to reach with their message and the benefits of banking locally. This behavior targeting option gets your content in front of people who are banking with larger national institutions, but they also might be looking for an alternative that closer to home and has their best interest at heart, so give them a reason to consider your FI!

Banking CompetitionWant to Learn [More? DOWNLOAD Our Definitive Guide to Social Media Marketing for Banks & Credit Unions Today!]


3. Family Targeting – Get Information About Your Products to the Correct People!

Life Events and family size targeting can be HUGELY impactful. If you have a credit-builder loan or account why not target those in your areas who are younger or have just gotten out of school, who may be in particular need of such a service?

You can also narrow a custom audience, like a member email list, by income to better determine a group of members who might be interested in a particular service.

Family size and age is great for reaching users who are likely to take out a car or home loan in the near future. Again, a great way to narrow your audience and deliver them information about a product or service they are already looking for! The right message, to the right person, at the RIGHT time!

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Large Banks are spending BIG online, CUs  and Community Banks need to get into the game!

Clearly these kinds of ads are an important and necessary part of any marketing strategy. With some help from Facebook themselves or from a marketing agency Credit Unions can begin to play with the big boys online and reach more people who would benefit from the products and services they offer.

Contact us online or email us at contactus@figrow.com for more information about our marketing services for Credit Unions and Banks! 

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