Financial institutions and digital payment providers are leveraging social media platforms to boost their operations and customer engagement.
A recent report has analysed the social media strategies of the top 100 cross-border payments companies, including those featured in FXC's Cross-Border Payments 100. The report covers the use of LinkedIn, Twitter, Instagram, Facebook, TikTok, and YouTube by these companies.
Key Findings
The report reveals that these companies strategically employ these platforms, with varying focus based on their industry positioning and audience. Here's a breakdown of their social media strategies:
LinkedIn and Twitter
These platforms are the most actively used among the companies analysed. Companies often post multiple times per week, focusing on thought leadership articles, industry insights, partnership announcements, and product innovations. Ant International, a top fintech provider, uses LinkedIn to highlight milestones, cross-border payment solutions, and global expansion updates, targeting B2B clients and partners.
Twitter, on the other hand, is used for real-time updates, customer support, event participation, and sharing news. Posting frequency can range from daily to several times a week. The content is concise and often links back to in-depth articles or press releases.
Instagram and Facebook
These platforms are utilised less frequently than LinkedIn and Twitter but are key for visual storytelling, brand personality, culture, and community engagement. Posts may include infographics explaining products, employee stories, or coverage of corporate social responsibility initiatives. Frequency typically ranges from weekly to biweekly.
TikTok
Adoption of TikTok is emerging among cross-border payment companies, mostly the larger or innovation-driven firms, aiming to reach younger demographics. Content here includes simplified educational videos about cross-border payments, fintech trends, or behind-the-scenes company culture, posted biweekly or monthly.
YouTube
Primarily used for longer-form educational and promotional content such as webinars, product demos, customer testimonials, and interviews with execs. Posting varies widely but is often monthly or quarterly, depending on content production capacity.
Follower Counts
Top players like Ant International have follower counts in the hundreds of thousands on LinkedIn and Twitter due to their extensive B2B networks, while Facebook and Instagram accounts have smaller but engaged followings. TikTok and YouTube channels tend to have smaller yet growing audiences relative to more traditional platforms due to their newer adoption and specialized content.
In sum, the top cross-border payments firms concentrate efforts on LinkedIn and Twitter for business-centric communication and external partnerships, with Instagram, Facebook, TikTok, and YouTube supplementing brand and customer engagement. The frequency of posting is highest on LinkedIn and Twitter, with professional and news-oriented content dominating. Emerging platforms like TikTok are used experimentally to foster broader brand awareness among younger users.
While the report does not mention specific trends or patterns, it offers valuable insights into how these companies use social media for various purposes such as attracting new customers, recruiting new employees, and raising awareness of company initiatives. However, it does not provide any recommendations for improving social media presence, nor does it offer analysis of the return on investment (ROI) for social media strategies in the cross-border payments industry.
[1] Ant International: https://www.antfin.com/ [2] FXC's Cross-Border Payments 100: https://www.fxcompared.com/cross-border-payments/top-100/ [3] Ant International's LinkedIn: https://www.linkedin.com/company/ant-financial/ [4] Ant International's Twitter: https://twitter.com/AntFinancial [5] FXC's Cross-Border Payments 100 Report: https://www.fxcompared.com/cross-border-payments/top-100/report/
- Due to their focus on B2B networks, Ant International has gained a substantial follower base on LinkedIn and Twitter, showcasing their cross-border payment solutions, global expansion updates, and partnership announcements.
- Larger or innovation-driven cross-border payment companies, like Ant International, are increasingly experimenting with TikTok, using simplified educational videos to expand their reach among younger demographics.
