Financial regulatory bodies continue to encourage member institutions to build an active presence on social media, if only to monitor brand mentions and respond to customer questions, complaints, or compliments. But getting active on social media can do so much more for your bank than just keep you compliant!
Topics: financial services, Infographic, social media, social media for banking, social media marketing
You’ve mastered marketing to Generations X and Y. Now it’s time to gear up for the next generation – Gen Z – the post-Millennials who grew up with the internet and will redefine the way you reach your future audience.
First, let’s get a better understanding of the people that make up Generation Z. Defined as those born between 1992-2010, Generation Z-ers are currently in their teens and early twenties. According to Mashable, “Nearly half of teens who use the Internet buy things online, more than four in five will use social networks this year, and 96% of U.S. teens ages 12 to 17 will use the Internet at least monthly.”
Topics: Business, generation z, social media, social media for banking, Social Media for Banking, social media marketing, Social Media Marketing, strategy
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
Have you Googled yourself lately? What comes up on search engine results pages (SERP’s) can make or break your online reputation. Harvard University research on Yelp shows that a 1-star difference in reviews on Yelp may result in 5% to 9% in business gained or lost. Review sites aren’t the only place customers can let you know their opinion. A study by Brandwatch found that customers of financial brands are more likely to use social media and online forums to air grievances . There is also the issue of poor reputation for the financial services industry overall. The 2014 Edelman Trust Barometer found banking and financial services to be the least trusted industries globally. Add to that the challenges of balancing personality and regulatory responsibility, and having an online presence might make you ask – why bother? Use these tips to change public perception and control the conversation about your financial brand.
Topics: facebook, google+, gremlin, linkedin, reputation management, Reputation Management, Social Media, social media for banking, Social Media for Banking, twitter
In the first installment of this series, How to Create Engagement - Facebook for Financial Services, we discussed 6 ways to leverage Facebook to build relationships with your customers. Next we’ll tackle Twitter and unveil 10 tips to tweet safely and compliantly in 140 characters or less. That’s right – while Facebook lets users to be as verbose as time and attention spans allow, tweets must get the job done in 140 characters. In fact, best practice is to leave 20 or 30 characters of space for followers to retweet and add comments. Therefore, a tweet is reduced to a brief 110-120 characters, including links.
Topics: FINRA, gremlin, social media, Social Media, social media compliance, social media for banking, Social Media for Banking, twitter, twitter business, twitter business tools, twitter marketing
So you have decided your bank needs a social media presence – great – now what? Before creating your social media accounts, the Gremln Get Started Guide outlines 3 key steps for a successful social media strategy:
1) Determine Your Purpose & Voice – Decide how you plan to use social media to further your organization. Is it for brand awareness? Building relationships within your community, customer service, or all of the above? The goals you set for your brand on social media will determine the direction of your strategy. Additionally, you will need to define the “voice” of your social media to ensure your messages have the same tone across the board. Are you casual and fun, friendly, or more professional? Know your audience and choose the voice most representative of your brand.
Topics: compliance, Compliance, facebook, FFIEC, gremlin, linkedin, social media, Social Media, Social Media Education, social media for banking, Social Media for Banking, strategy, twitter, twitter business, twitter marketing
In 2011, FINRA (Financial Industry Regulatory Authority) issued two notices and a new rule geared specifically to electronic communications with social media. Generally speaking, financial services organizations can assume that social media falls under the rules of any other business-related electronic communications in terms of recordkeeping, suitability, supervision, and content. However, certain aspects of social media, such as third-party posts and data feeds, require further oversight.
Topics: compliance, Compliance, FINRA, social media, Social Media, social media compliance, Social Media Education, social media for banking, Social Media for Banking
Banks and financial institutions face a number of challenges when it comes to digital marketing, particularly with social media. Compliance and privacy issues pose unique challenges for financial marketers who recognize the benefits of having an online presence, but are beholden to guidance from the FFIEC, FINRA and SEC. Still, some banks and credit unions are successfully leveraging social media to further their brands. Susquehanna Bank is a Lancaster, Pennsylvania-based bank operating over 260 branches in four states including Pennsylvania, Maryland, New Jersey and West Virginia. The bank engages its more than 15,000 Facebook followers with weekly features such as “Where is it Wednesday?” and “Trivia Tuesday” — as well as social responsibility campaigns dedicated to helping those in need.
Topics: compliance, Compliance, facebook, FFIEC, social, social media, Social Media, social media compliance, Social Media Education, social media for banking, Social Media for Banking, social media marketing
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
When you think of social media, the first network that probably comes to mind is Facebook, and for good reason -- it currently boasts more than 1.2 billion users worldwide.
Upwards of 15 million businesses, companies, organizations, and public figures have company Pages -- and Facebook continues to gain more and more power as a marketing, customer service, and outreach tool. These Pages can be managed by a number of admin, and are easily integrated into Gremln's dashboard system.
Topics: 101, Business, business, education, facebook, facebook business page, Facebook company page, facebook fan page, social media, social media 101, Social Media Education, social media for banking, Social Media for Banking, social media marketing
