A recent study from Carlisle & Gallagher Consulting Group shows that most banks are significantly missing the mark with customers on social media. Out of 1,002 consumers polled, 52% said they believe their banks use of social was ineffective, and a whopping 87% said banks are “annoying, boring, or unhelpful” on social media. No worries! The data presents an opportunity for financial marketers to blaze new trails on social media. Here are 4 ways to activate your customers and brush the cob webs off your social media networks:

Topics: Marketing, Mobile Banking, social media, social media for banking, Social Media for Banking, social media marketing

Two of the most important keys to a loan officer’s (LO) success are trust and relationships. And while that aspect of the business hasn’t changed, the strategy to build trusting relationships has evolved. The old “grow and nurture” method included in person meetings, cold calling, and advertising – and then nurturing those leads with emails, calls, or letters. Growing and nurturing your network is still important, but now in addition to using a call sheet or email list, you have social media platforms. It’s no longer just about a sales pitch, but staying in touch and adding value to your network in as many ways as possible.

Topics: linkedin, Marketing, social media, social media for loan officers, Social Media for Mortgage Banks, social media marketing, Social Media Marketing

In our first installment of Hiring Your Social Media Dream Team, we talked about the importance of having an organized plan in place to help your team be as successful as possible and start you on the right track. Our second installment described the various team members and positions that can make up a Dream Team. Today, we’re helping you make sure your newly-assembled team rises to the occasion and propels your company’s social media efforts to the next level.

Topics: Marketing, social media, social media for business, social media marketing, Social Media Marketing, strategy

Ask yourself: who is your audience? All financial institutions are not created equally, so it is important to have a grasp on to whom you are selling your services. Previously, we discussed how to reach out to millennials, those born between the years of 1980-1999. Now it’s time to talk about their predecessors, the group born between 1960-1979 who Douglas Coupland famously coined as Generation X.

Generation X presents an interesting challenge for marketers because there is no slam dunk way of appealing to them. They are tech savvy, but not as likely as millennials to look for their banking solutions online. They have a bit of money, but quite a bit more debt than Boomers; not that Gen X are frivolous spenders. The debt is a result of their position as the most educated generation, and consequently, the generation who owes the most in student loans. Let’s take a look at what else you can expect from Gen X, and how to close the deal with them.

Topics: facebook, Gen X, linkedin, Marketing, social media, Social Media, social media marketing, Social Media Marketing, strategy, twitter, twitter marketing

Millennials are an increasingly sought-after group when it comes to financial services. According to a report by Nielson, the Millennial generation, or Generation Y as they’re also known, consists of 77 million individuals born between 1977 and 1995 – that’s close to 24% of the population. And while they may not have the affluence of the Baby Boomers just yet, their burgeoning careers and bank accounts make millennials a prime audience for the financial services sector. In the first of this series on connecting with different generations, we will talk about what makes Millennials tick.

Topics: financial services, Marketing, Millenials, social media, Social Media, social media for banking, Social Media for Banking, twitter

Setting Up Your Twitter Profile

Twitter – 140 characters of sheer bliss! Don’t feel that way? Don’t stress. We’ve got the basics covered here for you – from setting up your profile to plotting your online presence – guiding you step-by-step through the process.

Twitter is a micro-blogging site that started in 2006 as a San Francisco-based company’s internal communication tool. It quickly evolved into one of the most communicative social networks available. Friendships, customer relationships, and even marriage proposals have blossomed within its short-and-to-the-point confines.

Topics: 101, Business, business, Marketing, social media, Social Media Education, social media for banking, Social Media for Banking, social media for business, social media marketing, strategy, twitter, twitter business, twitter marketing

Does your company have a social media policy? Maybe you’ve determined your business needs one, or perhaps you’re on the fence about the value of such a policy. Maybe the one you have needs a little finesse. In any case, you need to know where to start, what to include, and why it matters. We have some tips to get you on your way toward compliant, secure, and engaging social media success.

Topics: 101, Business, business, compliance, gremln, Marketing, policy, regulation, social media, social media policy, strategy, tips, twitter business tools

Topics: brand, Business, gamification, Marketing, social gaming, social media, super bowl

We’re one month deep into 2013, and you’ve been hitting the gym like a champ. You’re reading more, watching less TV, eating healthy, quelling your vices, and basically knocking all your personal resolutions out of the park. Will power 1, couch potato 0. Way to go, you.

Topics: 101, Business, business, gremln, Marketing, ROI, social media, Social Media for Small Business, strategy, twitter business tools

Now that 2012 is just about over, I can officially state, with all appropriate certainty, that the social media question I heard the most often this year was, “How do I determine social media ROI?” The main reason returns on social strategies are so important, of course, is that success (or the lack thereof) almost always determines budgets, and every now and then it even determines jobs. Which makes this a very important question indeed.

Some people will tell you that you can’t calculate social media ROI, but I respectfully disagree. Measuring social media ROI isn’t impossible…it just isn’t straightforward.

When you calculate return on a traditional financial investment, there’s a simple, straightforward calculation that allows you to quickly determine your return: ROI = (Gain from Investment – Cost of Investment) / Cost of Investment. The reason this formula is so straightforward is that all the variables are distinct. You know how much money you’ve invested, and you know how much money you’ve gained from that investment. Simple.

The reason social media returns aren’t quite so simple to calculate is because the variables aren’t as clear cut. What, exactly, have you invested? Employee salary? Graphic design costs? Social media software costs? Facebook ad expenditures? Product giveaways? Where do you draw the line between social media resources and everyday business expenses?

And how about that return? Ideally, of course, you’ll see an increase in revenue as a direct result of your social strategies, but that’s not the only type of positive return you can get. What about engagement? Social media is all about building communities of people who, when the time is right, will rally around your product or service…so high levels of engagement are important, aren’t they? And how about brand strength? If you can manage to move your Facebook likers from fans to brand loyalists, what’s the dollar value there? Certainly that’s a positive return. The same goes for customer service. If you use your social media as a customer service tool (and you should), isn’t customer satisfaction a positive return on that investment?

The problem isn’t that social ROI is impossible to calculate; the problem is that there are just too many ways to calculate it. In order to get an accurate return measurement, you’ll need to settle on the type of return you want to measure. Here are four suggestions on getting started, with a little help from Gremln:

Topics: 101, brand, Business, business, campaign, dashboard, education, facebook, google+, google plus, gremlin, gremln, linkedin, Marketing, media, ROI, small business, social, social media, strategy, twitter