Back in August, we wrote about what NOT to do in social media and what type of content is relevant for marketing financial services in the social space. We also gave examples of financial institutions that get it right, and others that simply don’t.
Inevitably, companies love to post about things like holidays or weather or fun facts that have absolutely nothing to do with their brand, products or services – but even more problematic is that they don’t even try to make a connection between them.
This is not the case with Chase Sapphire Preferred. In keeping with the financial institution’s “So You Can” branding and its travel and dining enthusiast target audience, Chase Sapphire Preferred’s use of social media brings the product’s core value proposition to life. And in doing so, it proves that a financial institution can be successful and offer value in social media, even at the product level.
In reviewing the product’s Facebook activity over the past year, we saw example after example of things Chase Sapphire Preferred is doing well… things we recommend to our financial services clients all the time. Here are some Chase Sapphire Preferred posts that rose to the top (along with why they’re successful):
Making the connection to its “So You Can” branding – CHECK.
Reinforcing the card’s value proposition, while at the same time driving small-ticket transactions (like bike rentals and food truck purchases) not just large transactions (like international travel) – DOUBLE CHECK.
Reminding cardmembers about benefits available to them (like microchip and First Friday dining bonus points) – CHECK.
Promoting sponsorships and events – CHECK.
Sharing real cardmember experiences at these events and doing this via video content – DOUBLE CHECK.
Promoting relevant partners – CHECK.
Connecting seasonality and holidays to the product’s value proposition – CHECK.
Using Facebook to drive traffic to the product’s microsite and other social platforms – CHECK and CHECK.
I could go on and on, but you get the idea.
Admittedly, there is the occasional random post that has nothing to do with the product’s branding, products or services (e.g. National Pecan Month), but those are few and far between. And while the engagement level among likers is not all that high, Chase Sapphire Preferred has the right balance of content. It’s possible that, over time, the content will lead to increased Facebook engagement. However, it’s likely this brand is most interested in engagement with the product itself… as demonstrated by cardmember spend and utilization of rewards and other card benefits.
Tags: Chase Sapphire Preferred, financial institution marketing, financial services marketing, social media for financial services