In an increasingly competitive space, Instagram (IG) is experiencing remarkable growth and popularity. What began as a photo sharing site, is now the go-to social media platform for business of all types, including finance. With 2 billion active users in 2024, the introduction of Reels and Stories gave brands even more ways to connect with their audience. Here’s how finance brands can utilise Instagram’s top performing features.
Instagram Stats
- 650 million people use IG each day
- 6 billion Stories are posted daily
- Instagram posts have 10% organic reach, vs 1% on Facebook
- Over 500,000 active influencers leverage the platform making it the leading platform for influencer marketing campaigns utilized by 80.8% of marketers
- 9% of users are between 18-34 years of age with an even gender split
- Popular Instagram finance hashtags include #finance #business #money #investing #financialfreedom #investment #entrepreneur #trading #stockmarket #stocks #wealth #invest #bitcoin #success #forex #motivation #realestate #investor #cryptocurrency #accounting #personalfinance #crypto #financialliteracy #wallstreet #smallbusiness #credit #entrepreneurship #marketing #trader #financetips
Financial firms have understood the potential to reach clients on this platform. From educating, informing and entertaining their followers, they are using Instagram to build stronger relationships with their traders, investors and clients.
As a social media agency for finance, at Contentworks we’ve come across some excellent examples of companies engaging and converting clients. Let’s look at some best practices for Instagram Reels and Stories in finance.
Reels and Stories For Finance
While both are geared to engage users with short-form content, Instagram Stories are not the same as Instagram Reels. Here are some basic differences and use cases.
Reels
Reels are usually short and more polished videos (up to 90 seconds). Their aim is for viral engagement and have more sophisticated transitions, music and effects. They are permanent and can be discovered through the Explore page. Finance brands can use Reels to communicate complex topics in a more engaging way
Tips for finance companies can using Reels:
- Simplify complex information. With their short format, Reels encourage simple, succinct messages. Deliver digestible, bite-sized content that is relatable to your audience. An example would be to have a consistent company member explain terms in under 60 seconds. E.g. ‘What is NFT’, ‘Why RSI is your best friend’, ‘What’s a pip worth?’. Be consistent with the style and people will start to look out for them. Ensure you are using your branded tone of voice and don’t be afraid to lighten the mood. Finance can be fun!
- Grow your reach. As Reels are predominantly featured on Instagram’s Explore page, you can reach a larger organic audience than with Stories or traditional posts.
- Brand personality. Yes, finance can be boring. But it doesn’t have to be! Reels are a great way to add the human element to your company. They are informal, can showcase company culture and are perfect for behind-the-scenes glimpses into your people and what goes on at your offices, events, expos and parties. All this makes you more relatable, and 84% of people buy from brands they are emotionally connected with.
- Frankenstein’s monster of education and entertainment, Reels are perfect for learning by delight. Don’t be afraid to incorporate trends, memes, challenges or popular music. Take traditionally dry financial education and turn it on its head.
Admirals Uses Reels to Educate
Stories
Stories are designed to disappear after 24 hours, unless they are saved as highlights. They allow a combination of images, videos, quizzes, polls and more. These interactive elements make it easy for firms to engage users on a more personal level and garner quick feedback.
Tips for finance companies using Stories:
- Real-time engagement. Their temporary nature can give them a more impromptu and personal feel. They’re great for quick updates “we just rolled out our mobile app 2.4”, “NFT release in one hour”. And for question and answer sessions like ‘ask me anything’ (AMA) by asking users to submit their question through the Q&A feature.
- Community building. The interactive elements in Stories like polls, quizzes, and count-down timers etc, allow you to engage with users in ways no static post is going to. Polls are a great way to gauge interest in a new asset you’re thinking to introduce, or get feedback on traders’ challenges.
- Driving conversions. Stories with a swipe up feature (now a clickable link sticker) allow you to direct traffic to your landing pages, sign up pages, or to webinars etc.
- Time sensitivity. Disappearing Stories can be a great way to build a sense of urgency and create FOMO. These can be used for limited time promotions “we just dropped the spread on Gold for 24 hours”.
How Finance Brands Can Use Instagram Story Highlights
A Highlight can be a Story or collection of individual stories that live permanently on your profile. Financial marketers could use this feature to outline sign up processes or provide educational guides that users can go back to at any time. They could also save events, launches, milestones and interviews. Take the time to design covers for your highlights and create a user-friendly naming convention.
Here’s a quick summary of the different use cases for Instagram Reels and Stories for finance.
Best Practices for Finance Brands On Instagram
Brokers and financial firms offer specific products and services that come under heavy regulatory compliance. That’s a challenge that can lead to some innovative and creative approaches. Here are some top tips to make the most of your Reels and Stories.
- Keep it simple: For both Stories and Reels, keep your message clear and simple. Don’t try to fit in too much. Make one point and express it well.
- UGC: Leverage user generated content and encourage your followers to share their trading succeeds Stories, their top tips (maybe have a #TipsTuesday hashtag), and questions.
- Be consistent: Posting regularly is the best way to maintain engagement. Create a content calendar that includes key economic events, holidays and company news.
- Mobile optimised: IG posts, Stories and Reels are largely watched on mobile. In fact, only 2% of users are accessing Instagram via desktop! Ensure your text is easy to read and that content is optimised for small devices with clutter-free frames.
- Metrics count: Measure the performance by regularly tracking your Stories and Reels. Check views, likes, shares and click through rates. Doing this on a monthly or quarterly basis allows you tweak your strategy based on what is working best with your followers.
Don’t Do This with Your Instagram
Here’s what you should avoid on Instagram.
- Complicated content: Don’t try to add too much into a story or reel. You’ll overwhelm your audience and they’ll just scroll on past. Zero-in on one key message and don’t try to explain too much.
- Forgetting compliance: In trying to quickly respond to trends you can easily forget about compliance checks. Contentworks stays updated on latest regulatory changes from key global authorities and ensures compliant content to speed up the process of compliance approvals.
- Ignoring your brand: Stories can be quick and impromptu, but that doesn’t mean that you ignore your brand tone of voice and messaging. While image quality that you share doesn’t always have to be perfect, your own images and videos should be of high resolution. Have ready made templates that allow you to react quickly to dynamic trends and stay on brand.
- Over posting: Don’t overwhelm your followers and become wallpaper. Find the sweet spot of how much you should post that engages your audience without spamming them. Mixing up posts, Stories, Reels, polls, AMAs etc is a great way to keep it fresh.
A brand that recently forgot itself on Instagram was Motion. Whether it was an agency, partner or influencer who posted the misogynistic Story below, it was entirely off-brand and downright offensive.
High profile pressure from eminent female business leaders forced the brand to apologise and backtrack on its actions. Rightly. Ensure that your agencies and partners are following a strict code of conduct and brand guidelines to prevent this type of Instagram fail.
Instagram Stories and Reels are immersive, native experiences that connect audiences to your finance brand. Financial marketers don’t need to grapple with big advertising budgets to make effective Instagram Story and Reel content. But, they do need to strategise, plan content and prepare engaging images and captions. Need help with your finance Instagram? Speak to our social media strategists.