Social media marketing provides some tremendous advantages. But, it also brings a number of significant challenges. LKCS’ Social Media Management platform adds efficiency and mitigates some of the challenges and risks involved.
In today’s Webinar Wednesday episode, Sid Haas discusses ways LKCS can assist your company through the use of our Social Media Management Platform.
Video Transcript (Highlights)
Today’s presentation will focus on:
- An Overview of Social Media Marketing
- Effective Social Media Content
- Managing Social Media and its Challenges
What is Social Media Marketing?
Social media marketing is the process of using media platforms to engage both new and current account holders. Key ideas: — Social media is about engagement and conversation. — Social media communities must be built. Social media is NOT a set it and forget it marketing strategy. Social media marketing requires a dedication.
The Social Media Landscape
The social media landscape is HUGE and can be a little overwhelming! 100+ channels and growing! Specific audiences (general, business, interests, location)
The benefits of Social Marketing: Specific purposes
(news, friends, photos, videos, ratings) : Increase brand awareness, Enhance company and exposure trustworthiness, Strengthen relationships, Cut marketing costs and expand account . . . Monitor your brand’s online service opportunities reputation, Build a loyal community of followers. Account acquisition and loyal and active followers sales opportunities, Boost traffic to your web site and improve SEO
- 1.55 BILLION MONTHLY active users
- 1.01 BILLION DAILY active users on average
- 894 million mobile daily active users 0 148 million daily users in U. S. and Canada
- 30% of Americans get their NEWS on Facebook
- Average of over 20 minutes spent per day; Average of 8.3 hours per month
- 34% of 18-29 year—olds are Facebook users use Facebook
- 320 million monthly active users (over 89 million in the U. S.)
- 500 million Tweets are sent per day; over 5,700 per second
- Average Twitter user follows five or more businesses
- 37% of Twitter users will buy from a brand they a follow
- 74% of people follow SMBs to get product updates,
- 400 million total users (over 122 million in the U. S.) 100 million unique monthly visitors 28% of online
- 13% of online U. S. adults use it daily
- 13% of millennials (16-35 year olds) use Linkedln
- CEOs average 930 Linkedln connections
- 13% of Linkedln users don’t have a Facebook account;
- 59% don’t visit Twitter
- 90% of Linkedln users make household decisions
- 41% of millionaires use Linkedln
If you are not using Google+, you should be.
Claim your pages! Over 1 billion accounts; only 20 million active monthly users it’s easy. Start by posting your Facebook content to Google+ The #1″. reason to use Google+ – 68% of searches are conducted on Google every post to Google+ gets its own unique URL.
Your posts will be indexed IMMEDIATELY and listed in search results. Web sites that appear on the first page of Google, get 54.8% of all clicks from users Google also owns YouTube. YouTube videos are predominantly featured on Google+.
Why a Blog?
- Improves search rankings, drives traffic to the web site
- Continuous, new web site content on latest trends, products, services, ideas, etc.
- Content is easily be shared on other social media platforms
- Establish Your Expertise
- Answer common questions that your account holders and prospects have
- Generate Leads by Including calls to action in posts
Be Social: Post & Respond Often
Your financial institution will need to post quality content often, and continually monitor your page for social interactions. How often should you post? — Post 3-5 times per week 0 You can Tweet multiple times per day — Post new updates during business hours 0 Highest traffic occurs mid—week between 1 to 3 pm 0 On Thursdays and Fridays, engagement is 18% higher
How should you respond?
- Be active, spur conversations
- Thank people for comments, be visible
- Don’t ignore or delete negative comments
TIP: Develop a Post Strategy
- Create your content in advance
- “Schedule” when it goes live
- Use photos, images, links and videos whenever possible
- Keep it SOCIAL: content should be fun and informative; don’t just list products and services
What Makes Good Content
Post photos and videos. High definition photos and videos in graphic detail and vivid color provide engagement levels that far exceed plain and simple text. Links: Don’t limit your links to your products. Linkto interesting websites, related news articles, and even funny tidbits. Mix it up. Use the 80/20 rule: 80% of status updates should give value to the fans first, 20% of status updates can be promotional, or brand first. — Post like a friend, not a brand. Informal, personal language gets a better response. Stay away from complex terms. , — Reply to fans when they comment on status updates. This 1. ‘ fn burages fans ‘/0 inte/ at ore.
What Makes Good Content
- Keep status updates short.
- Use 250 characters or less when possible (only 140 on Twitter).
- Celebrate milestones. People like numbers and celebrations.
- Recipes: I know it seems silly. But, guess what. People love posting pictures of food on Facebook, Twitter and especially Pinterest.
- MOST IMPORTANTLY POST REGULARLY. Be a consistent, reliable source of information and financial expertise.
- You can still take time off.
- Schedule ahead. Use your team.
Ask for likes.
Tell users to “click like” if they agree with a statement. (On Twitter, ask for Retweets.) Trivia isn’t trivial. People love a good factoid. Whether it relates to your product or company, current events, or is just interesting, a cool nugget of information will have people looking for you in their news feed. Ask a question about an image. For example “Where do you think this photo was taken? ” Photo caption contests: Ask fans to post or title interesting photos and announce a winner. Use simple fill in the blank prompts: For example “My biggest savings challenge is _________.”
Dealing with Negative Posts
- Turn negative comments into positive opportunities
- Don’t delete all negative comments, keep them visible
- People know that not everyone is always happy with their financial institution
- Remove any posts that are inappropriate/ offensive, contain vulgar language, violate privacy or other policies, etc.
People who post negative comments want a reaction. Deleting their comment does not diffuse the situation and will encourage them to continue to complain where you can’t do anything about it. lt’s how you resond to these negative comments that makes the difference.
Your service and responsiveness will be seen by other users, and will influence their banking decisions
Negative Post Response Examples:
Denied for a Loan
We’re sorry to hear that. Our lending policies are based on sound financial practices that protect all of our account holders. Our social media team understands your frustration. Would you like me to have a loan officer contact you directly to discuss your situation? We have several resources available to help you improve your credit score and other loan decision. Please visit www.creditcounselingageny.com.
Member/Customer Service Complaint
Thank you for bringing this to our attention. Would you like a manager to contact you directly?
We’re sorry to hear that. We pride ourselves on service and will certainly bring this issue to our management team.
We would like to learn more about this situation to see if we can remedy it for you. Please contact our marketing team at 1-800-123-4567 x123 to discuss.
High Fees/Bad Rates
We try to keep our fees/rates as reasonable and competitive as we can in today’s market. We appreciate your feedback and will pass it on to the appropriate people.
Thank you for pointing this out. Fees/rates are reviewed regularly and we’ll make sure this example is brought up at the earliest opportunity.
Thank you for your comments. We will contact you to discuss the issue further.
Social media keeps compliance people up at night
- Same rules and regulations apply as all other advertising
- Risk management and reputational risk
- Keep management and board informed of your use of social media Employees’ use of social media FFIEC Social Media Guidance – released December 2013
- No new requirements Meant to explain potential risks, expectations to manage risk, and suggestions regarding social media policies and procedures “
Social Media Platform Functions Monitoring:
Unified inbox with all posts and comments to you. Automatic sentiment scoring. Respond to posts/ comments directly. Even privately. Keyword searches across social media (not just your profiles), review sites, and web for mentions. Get notified of mentions of company name, product names, competitors, executives’ names, board members. Look for limitations in number of searches you can specify.
- Reporting: Build and schedule custom reports.
- Track metrics most important to you from each of your social media profiles.
Identify posts with most engagement. Archive all posts.
- Reporting – Facebook Sample Page Fans 0 Page Engagement o 5.900 500 Isreb 250 Fans +1.24%
- Daily Page Engage Users
- Override preview images.
- Publish Facebook cover photos, photo albums, videos, etc.
- Assign activities/ responses to other users.
- Set up auto responders, auto followers.
- And do this so it doesn’t look automated.
- Content curation.
LKCS’ Social Marketing Solutions
Through a combination of design and marketing strategies, LKCS can help you to leverage the potential of social media!
- Account Setup
- Social Media Monitoring
- Profile Design
- Community Building Strategies
- Daily Management
- Social Media Advertising
- Social Media Training