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Social Media Strategy Tips for Your Financial Institution

Social Media Strategy Tips for Your Financial Institution

Is your financial institution using social media yet?

Is your financial institution using social media yet? Some of you might say you have just made your page and posted a few tweets on Twitter or a couple of pictures on Facebook. That’s a great start, but did you think about your strategy and policy before you started? When starting social media it’s important to take a crawl, walk and run approach and I’ll let you know what I mean by that.

1. Crawl – This is where the research begins. For financial institutions there is a great place to start your research and that’s cbanc Network. (If you haven’t heard of it yet, I highly recommend checking it out.) You’ll need to do research within and outside of your company to 1. Build your FIs Social Media Strategy and 2. Create your Social Media Policy.  Your strategy should include who your audience is, how you are going to reach them, what you will post about and how often are you going to post, etc. Your Social Media Policy is more focused on internally how you will protect confidentiality, keep employees engaged with your FIs pages without confining them, etc.

2. Walk – Now that you have completed your research, it’s time to get into the fun part. This is where you create your Facebook Page and Twitter account. This is when you upload your profile picture for your page and get to choose your background for your Twitter page. The creation process has begun! Not only are you creating the pages, you now need to create some posts. After doing your research and creating your strategy you should have an idea of what your FI is going to post about. Maybe it’s about events you are hosting or a local business client’s success. This is the time to take it slow and see what people are interested in hearing from your FI. Make sure you are starting conversations with your customers and members. What do they respond to?

3. Run – Now that you have your Social Media Strategy and policy in place and you have started posting, your FI might have a good group of followers and Likes. You feel comfortable posting and have conversations going on. Don’t settle for what you have though, strive for more. This is the step where you can create a newFacebook App – try showcasing your employees or launch a contest.

Try out this crawl, walk and run approach and see how it works for your FI!

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