Top 3 Strategies to Recover From Facebook & Google “Slap”

If you are using Facebook to get more people to know your bank or grow deposits and loans, you need to read this email carefully, maybe twice.

Recently, Facebook has just launched another “tweak” to limit the organic reach on your Facebook page.

Social media industry commentator and consultant Matt Navarra shared what appears to be part of an email from Facebook to page admins or social media managers in a tweet.

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This is an email Facebook sent about their latest roll-out:

What does this Facebook “tweak” mean to you?

If you only posted to your Facebook page organically (without running any boost or ads), you will be affected by this change and likely will see your traffic dip.

You may say, “Well, if Facebook limited my organic traffic, I could go to Google, Michael.”

On the Google side, things are not much better.

According to the Search Engine Land, the list of Google “algorithm update” in 2019 is even scarier.

In the meantime, Facebook and Google account for 70-80% of the entire web traffic in any category you can imagine.

So, you can run away from Facebook and Google, but you can’t hide from them.

Since we can’t hide from them, the next question is: How do you build a reliable traffic plan? How do you craft one that can always get more people to know your bank, grow your deposits and increase your loans, no matter what “algorithm updates” Facebook and Google are rolling out?

 

I. Paid Advertising Campaign on Google and Facebook

I remember this quote quite well from JP. Morgan:

With the domination of Google and Facebook in the online advertising world, it’s hard to hide. 

The easiest way is to join them by creating an advertising campaign on Google and Facebook and use their platforms to achieve your goals –– whether that is to get more people to know your bank, grow deposits, and/or increase loans. 

The screenshot below was taken from our client’s Google Ads dashboard for a campaign to increase deposits. 

It indicates how often your ads are displayed on Google because when you placed an ad on Google, you are at their mercy.

In other words, Google will get to decide when your ad is shown, and when it’s not so that Google can maximize its ad revenue and use up your ad dollars as FAST as possible.

 

 

  • The blue dot represents my bank client, a small and hard-working bank (like you)
  • The rest are those 800lb-gorillas players

You can see a big gap between the blue dot and the rest. 

What it means is my client’s ad was shown five times more than Edward Jones, Fidelity, TD Ameritrade, and Merrill Lynch.

“How is that possible WHEN those guys have DEEP POCKETS and are E-V-E-R-Y-W-H-E-R-E?!” you may ask.

I can get deep into the technical elements of the campaign, but the short answer is: the ad is so optimized and well-written that it commands the highest share of the display.

And at the end of 90 days, we secured $2.9 million for our client from this Wealth Management campaign. 

Here are the client’s words about the campaign’s performance:

I am not telling this story to brag about my client’s victory. 

The main reason you need to hear this story is because I want you to know that paid advertising campaigns work if you know how to execute them properly. 

If you want to learn more about how to run a profitable campaign like this for your Wealth Management service, you can visit GotoBankWebinar.com to watch an insightful 60-min webinar about this case study. 

And if you need faster results and want to talk about how I can personally help, please grab a 15-min spot on my calendar (http://BrandMyBank.com/15), and let’s talk through what you might need help with.

 

II. Build-your-own-traffic-geyser without paying Google and Facebook

There are three steps in this process:

  • Understand your target market
  • Design your message
  • Reach Out/Acquire local traffic sources

For example, here’s how I helped my client find their own “traffic geyser.”

One of their branches is in Denton, TX, so I need to find out where people in Denton are hanging out and spending their time. One of the most talked-about topics is a foodie.

So, I did a quick search “Denton food blog” to find bloggers writing about this topic, and here’s what I found out:

As you can see, several local bloggers are serving content to readers like my client’s bank. 

The next step is to examine if those bloggers/publications are offering to advertise like in the case of WeDentonDoIt blog (look at the tab advertisement)

In most cases, when they offer “Advertise” option, you can learn more about their traffic stats:

With 20,000 views per month and 1,200 clicks per day, it’s not big, but it’s the right traffic. Imagine if you could get 10-20 of these websites targeting a similar audience like yours. It would be a home run.

As it turns out, WeDentonDoIt has a good traffic source, and I went ahead and helped my client place an ad on their site (under the “Sponsors” tab on the right-hand side).

As a matter of fact, besides “food,” there are various topics you can target to find local traffic.

Travel, Cooking & Food, Music, and Technology are leading topics that you can use to get started.

And if you need consultation on how to source your local traffic geysers, please grab a 15-min spot on my calendar (http://BrandMyBank.com/15) to discuss the strategy.

 

III. Foot Traffic to the Branch

Besides online traffic to the website, you will also need strategies to bring in foot traffic to the branch. That’s why I want to recommend several strategies to help you increase it.

Waze Advertising

Waze Ads is a new product from Google, and it bills itself as “Ads that reach nearby drivers.”

Since Waze is a digital app, you will know exactly how many potential customers engage with your ads. 

Drivers near your location can now see your ad and click on it to view more information. Ad Formats. Branded Pins. 

Like a store sign, pins inform and remind drivers that your business is on (or near) their route.

On the screenshot below, you see, since April 24, 2019, we helped our client reached over 91,036 (and counting) drivers who are using the Waze app to navigate with an average $200 per month.

This October alone, the ads on the Waze app have been generating over 39,000 impressions. 

 

Facebook Geofencing (Advanced technique)

This strategy relies on the power of Facebook Ads to run a geo-fencing campaign to target areas within your branch, and thus drive foot traffic.

For example, you can set up your ad to only show people who are traveling or currently in the drop pin in and exclude those red areas.

This strategy is advanced, but you have total control over the geographic areas you want to include and exclude. 

The application of this method is mind-blowing. 

For example, I can run a geofencing campaign at a concert in a city where your branch is at or a town where you don’t have a strong presence. 

What if you are opening up a new branch and you want to draw people in? 

What if you are running a charity event and only bring people in the neighborhood to your event? 

And if you need assistance on how to bring more foot traffic to your new/existing branches, please schedule a 15-min spot on my calendar (http://BrandMyBank.com/15) to discuss the strategy.

In summary, just like the volatility of interest rate, Facebook and Google are making regular changes to their “algorithm.” Community bank leaders will need to pay attention to strategy to hedge their traffic risks against Facebook and Google so that you can have a reliable source of web and foot traffic to your website and your branches no matter what happens.

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