Your account holders are active online. They communicate with friends and family. They shop. And they follow brands and companies that interest them. Financial institutions obviously want to be where their account holders are. Social media is a logical choice. Establishing a Facebook page, LinkedIn presence, Twitter account, YouTube channel, etc. is commonplace for financial marketers.
However, with that said, lets not forget that social media also has its challenges. Your financial institution will need to manage these challenges – even if you don’t have your own social media pages.
Brand Reputation
What are people saying about your financial institution online? What reviews have you received online? Do you know where and how to check for these?
Member/Customer Service
Social media is another channel for people to communicate with you. So how do you know when a question or issue comes up? How do you respond effectively?
Compliance
Privacy and security is vital to any of your marketing efforts. With that, there are a few things to consider when trying to maintain compliance on social media?
Content Publishing
What makes good content? How do you find it? How can you simplify publishing content to multiple social media sites? And how do you keep track of it all?
Reporting
There is a lot to track with regards to your social media efforts. How do you track and report social media activity? How do you keep senior management and the board informed about it?
Employee Activity
How are your employees representing the financial institution online?
Competitor Monitoring
What can you learn about your competitors through social media?
Get Started with Social Media…
And how do you do this while doing everything else required in your job? Managing social media does not need to be tremendously difficult or time consuming. Contact us for suggestions and even assistance on getting started with social media.
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