DigitalGroundUp Aims to Teach Best Facebook Practices for Financial Services

The Chicago-based startup will be working with Facebook to provide educational tools on Facebook ads, regulations for advertisements, Fan Pages and more.

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DigitalGroundUp announced a partnership with Facebook on Thursday to teach best practices for financial services. Now that consumers are getting more comfortable with using financial services online, there are big gains to make for those in the know.

While only 41 percent of social media users believe banks are trustworthy, where the message comes from can make a difference. Eighty percent of users who trust financial service providers would trust “a technical expert in the company,” and 68 percent would trust “a person like [themselves]” if he/she had a general distrust of banks.

It’s statistics like these that make engaging with customers on social media essential. Users may distrust institutions, but they’re getting more comfortable with conducting financial business online. According to a ROI Research Inc. and Performics study on consumer behavior, one in five checking accounts is purchased online. This same study noted that 17 percent of social network users have made a FinServ purchase because they were influenced by social media content.

That’s where DigitalGroundUp steps in. The Chicago-based startup will be working with Facebook to provide a series of courses that help educate small- to medium-sized companies in best practices for advertising financial services. The courses will be industry-specific, and the collaboration will receive support from Facebook and DigitalGroundUp staff.

The initiative hopes to teach business owners to manage their campaigns better, with the hope of serious improvements in their marketing campaigns.

“By learning how to test, measure results and optimize, business owners will be able to track their performance improvements,” said Riva Minkoff, founder and president of DigitalGroundUp. “And by learning about some useful new features and how to apply them, they can gain insight that will allow them to make better informed decisions about their marketing strategy and tactics.”

The courses hope to focus on both paid and organic engagement, how to get and stay competitive, and how to tailor your marketing campaign to the consumer. “It’s imperative for businesses to bring their advertising online to remain competitive in today’s markets. Our courses are designed to help companies understand how to do that effectively and efficiently,” says Minkoff.