The relationship between social media and the banking industry has grown cozier over the last several years. However, while social media is proven to be a powerful marketing tool, the strict boundaries of compliance in banking present a potential roadblock. A financial institution’s social media marketing success largely depends on how easy it is to define “compliant” — and how difficult it is for loan officers and other employees to consistently adhere to those rules.
Topics: Compliance, social media compliance, Social Media for Banking, social media for mortgage, Social Media for Mortgage Banks, social media regulations, strategy, social media risk management, social media management and compliance, bank marketing, Social Selling
Interest rates are at all-time lows and that means opportunity is on the table for banks. Social media is the perfect tool for building awareness, educating audiences and persuading customers so that your team can close more refinancing deals.
Topics: lender, mortgage, Social Media for Banking, social media for mortgage, Social Media for Mortgage Banks, strategy, bank marketing, Social Selling, VidVerify
This article was originally published to ABA Banking Journal.
To make sure your social selling campaign’s return on investment is strong enough to make the risk and time expenses well worth it, you’ll want to ask yourself these three measurement questions.
Topics: Social Media for Banking, strategy, social media measurement, Social Selling, ABA
What's Working Today and What's Next for Tomorrow
Ever wonder what everyone else is doing in social media? We talked to six leading financial marketers about how they’re succeeding today and planning for the next big thing. Get their insights on strengthening your social strategies, unlocking the power of employee networks and creating next-level content that drives engagement.
Topics: Social Media for Banking, strategy, social media management and compliance, bank marketing, Social Selling, social media study
This article was originally published to ABA Banking Journal.
To find out how banks are now managing social media—what they’re doing right and what obstacles still persist—the American Bankers Association surveyed more than 430 banks of all sizes. The 2019 report, The State of Social Media in Banking, provides a detailed status on where banks stand on social—and what’s changed in recent years. Here we take a look at how banks are measuring the success of their social media programs.
Topics: Social Media for Banking, strategy, social media measurement, Social Selling, social media study, ABA
This article was originally published to ABA Banking Journal.
Social media is constantly changing—and consumers’ online communication preferences are changing just as rapidly. By now, most banks know that developing and implementing a social strategy is a business imperative, but that strategy also needs to evolve alongside the social and consumer landscape.
Topics: Social Media for Banking, strategy, bank marketing, social media study, ABA
This article was originally published to ABA Banking Journal.
To find out how banks are now managing social media—what they’re doing right and what obstacles still persist—the American Bankers Association surveyed more than 430 banks of all sizes. The 2019 report, The State of Social Media in Banking, provides a detailed status on where banks stand on social—and what’s changed in recent years. Here we take a look at how banks are using social media to advance their strategic goals.
Topics: Social Media for Banking, strategy, social media study, ABA
Today’s consumers are used to getting information when and how they want it. PwC reports that almost 80% of U.S. consumers identify “speed, convenience, knowledgeable help, and friendly service” as the most important attributes of positive customer experiences. That’s why slow, inefficient social media content creation and approval processes can lead to a perception of poor customer service — which can eventually cause you to lose important customers.
Topics: social media content, Social Media for Banking, Social Selling, Social Listening
A “culture ambassador” is essentially a company cheerleader—someone who’s always engaged and enthusiastic about building, maintaining, and sharing an excellent culture within a workplace. Banks need culture ambassadors to show both potential customers and potential employees what separates them from the competition. After all, a bank’s culture goes beyond a logo, some standard messaging, and a service line. It’s about the brand personality.
Topics: Social Media for Banking, Social Media Marketing, Employee Advocacy
If you’re a banker, there’s a pretty good chance you’ve been there, done that, and gotten the t-shirt when it comes to understanding social media risk. Regulatory compliance – check. Reputation management – check. But there is one more shadowy figure that has stepped into the spotlight in the last few years: cybersecurity. Even though security breaches aren’t necessarily associated with social media use, adding any element that introduces a third party can be a potential threat. The most recent breach occurred in July 2017 when Equifax was hit by a record-breaking hack that affected as many as 2.5 million people.
Topics: compliance, Compliance, Cybersecurity, cybersecurity, gremlin, Reputation Management, social media, social media compliance, social media for banking, Social Media for Banking, social media monitoring
