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
This article was originally published to Credit Union Times.
The power of being active on LinkedIn, Facebook, Twitter, Instagram and other social media platforms can’t be overstated. Companies such as Robinhood, a commission-free stock and ETF trading app, have built entire followings through their social media channels. In fact, Robinhood found the social aspect so beneficial that it even integrated an activity feed into its website that allows for further customer engagement. User input builds brands – just as community input can build your credit union.
Topics: employees, marketing best practices, Social Media for Credit Unions, social media tips, strategy
This article was originally posted to ABA Banking Journal.
As more and more people rely solely on digital channels to meet their banking needs, the importance of social media as a two-way communication channel grows. Facebook, Twitter, LinkedIn, and other platforms offer unique opportunities for candid, trackable feedback from customers, and social listening is becoming a more valuable marketing and customer service tool for banks.
Topics: customer service, social media compliance, strategy, Social Listening
As a financial institution, consumer trust is your currency, but building that trust (and converting it to sales) involves more than creating and deploying a few TV and radio ads. Rather, it’s about starting a two-way dialogue with your customers — and as we discussed in part one of our “Calculating Costs” series, your employees are the perfect conduit for doing just that.
Topics: ROI, social media ROI, strategy, team, social media measurement, Social Selling