New Year, New Trend Forecasts: How Will Social Media Change in 2017?

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It’s official. 2016 is behind us, and we’ve got a fresh new year full of possibilities ahead of us. As we continue planning our strategy for social media and digital marketing for the coming months, here are a few trends you’ll likely be seeing take hold:

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Convince Your Boss — It’s Time to Get Social!

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Gremlin Social Is the Best Fit For Your Bank’s Social Media Marketing Efforts

It’s easy. It’s effective. And it helps you master social media.

If you’re looking for a way to make your social media management easier – or are just getting started and need some help diving in – Gremlin Social Guardian is the solution. Need to convince your boss? We’ve got you covered. This list of talking points will make it clear that when it comes to social media management, Gremlin Social Guardian is the tool to use.

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Building a Social Media Strategy for Financial Services

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The new year is always a chance to wipe your slate clean and start fresh. Championing new ideas that will take you a bit out of your comfort zone seems much easier at the beginning of the year, when you are at your most optimistic and energized for what’s to come.

Perhaps your team has decided that 2017 is the year to take your social media marketing efforts to the next level – whether that means you’re just getting started, or you’re ready to bump up your interaction and offerings with your audience.

To help you get started, we’re sharing an organized approach to building your financial services firm’s social media strategy – which we’ll be following up with an in-depth webinar in early January (sign up here!) with our friends at the American Bankers Association. 

Set Your Goals

Take the time to meet with your team and decide how you’re going to define success throughout the year. Then, work out the processes you’ll be taking to accomplish those goals – making sure to schedule regular check points throughout the year to check in on your progress.

Social Media Best Practices

Compelling content, authentic conversations with your audience members, and a well-organized content calendar are all stellar ways to knock your foray into social media out of the park. Take time to really plan your content throughout the year, and consider how you want to engage with your audience.  The more you can plan ahead, the less likely you are to feel the stress that can sometimes be associated with social media’s fast-paced nature.

Marketing Strategies

Explore the benefits of social media advertising to further your campaigns and efforts to expand your audience or market your company’s offerings. Depending on the network, you can determine your own budget – from as low as $5-10 to start – and test some different audience markets to see which perform best.

Response Guidelines

When you are engaging with your audience, it can be extremely beneficial to have a plan ahead of time for how you want to respond to various comments – whether they’re questions, compliments, or critiques. Determine how you’ll best be able to manage these conversations – which can come at any time of day or night – in a quick, personal manner.

Content Creation & Marketing Strategy

To make sure your content gets the attention it deserves, you’ll want to spend some time identifying your audience on social media. Are you looking to reach your current customers, or new ones? Do you want to serve the baby-boomer generation, or millennials? Perhaps a combination of both, but on which networks? Answering these questions will help you determine the voice and language you’ll use throughout your content creation process. You’ll also want to consider the best method for packaging it – do videos, blog posts, or images resonate with your audience most? Dedicate a good amount of time to testing and researching what works best, and you’ll be on your way to creating content that resonates with your target market.

Train Your Team

It’s extremely important to spend the time discussing best practices and guidelines with your social media team (whether that’s one person, or a company-wide effort) Inclusivity is important, as it can help foster a positive, team-centered environment. However, without proper rules and guidelines in place, you can increase your risk of non-compliant behavior on behalf of your staff. The pre-planning efforts you do in determining a chain of command and team organization will help your staff feel supported and excited about their participation with promoting your company via social media.

For a more in-depth discussion on these tips (and many more!) be sure to sign up for our webinar, co-hosted by the fine folks at American Bankers Association. As a special bonus for joining us for the webinar, you’ll get a free download of our Financial Services Strategy for Social Media E-book – chock full of information to help you build your company’s social media strategy.

 

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3 Key Steps For A Strong Social Media Strategy

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Have you decided your bank needs a social media presence in 2017? Smart move! But now what? Before creating your social media accounts, we at Gremlin Social recommend these three key steps to help you build 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.

2)     Organize & Train Your Team – Getting internal buy-in is crucial to a good social media strategy. Who will be responsible for posting, creating content, and monitoring accounts? Who will deal with a social media crisis if it happens? Compliance guidance recommends having an appointed manager monitoring social media activities to ensure standards are met, but it is a good idea to train all employees on social media best practices.

3)     Create a Social Media Policy – FFIEC, SEC, and FINRA rules mandate that financial institutions have a social media policy, but there are also policies and procedures for your business to be considered. What is the process for dealing with customer questions or complaints, negative brand feedback, or breach of privacy issues? What about a cyber security breach? Make sure you consider all key stakeholders in your company, including marketing, HR, IT, and compliance. This will ensure a well-rounded policy for your company.

One last thing – don’t forget the tools! You will need to manage and archive your social media posts, as well as have a workflow in place for content approval. Contact us for a live demo of the Gremlin Social toolkit, and take a tour of our blog to find out the latest and greatest in social media news and compliance updates.

4 Tips for Determining Your Social Media Marketing Spend in 2017

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Christmas is fast approaching, and we’ve got a brand new year basically starting tomorrow. Which means you need to get your marketing budget locked down and approved so you can spend 2017 basking in the glory of success.

We’ve got you. Whether you’re looking to completely restructure your marketing efforts, or simply need some help convincing your C-level executives to approve your budget, we’re here to help you accomplish your marketing goals. How? Simple!

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Millennials and Banking – Do You Have What They Need?

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Millennials are an increasingly sought-after group when it comes to financial services. According to a report by the American Bankers Association, the Millennial generation, or Generation Y as they’re also known, consists of 77 million individuals born between 1980 and 2000. Compared to the affluent Boomers, Millennials face critical financial challenges. Seventy-five percent of college grads have student loan debt and are earning less money. (more…)

How to Win Social Media Like Navy Federal Credit Union

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Credit unions have a unique position when it comes to social media. Unlike banks, which are opened to everyone, credit unions have a specific customer base. Members have to be affiliated with certain groups, such as an employer, community, or school. With the smaller, more targeted pool of members and potential members, social media can be viewed as a natural extension of strategic community engagement. The challenge is getting buy-in from credit union decision makers, as well as tracking ROI of social media participation. However, the tide seems to be turning, as research from CUNA Mutual shows that 60 percent of credit unions have been using social media for about 2 years. (more…)

Don’t Tweet That! The Dangerous Reality of the Social Family

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It’s probably safe to say that by now, most of us live in a healthy state of caution when it comes to social media. We’ve read the cautionary tales so selflessly provided by J.P. Morgan, Epicurious, and Justine Sacco, and most of us have decided that, yes, we should exercise a little care on the keyboard.
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The Future is Now: Mobile and the Social Banking Branch

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A recent report shared that 173 million Americans own smart phones, and CNN reported that mobile apps overtook desktop usage for the first time ever in February 2014. While mobile adoption rates continue to grow amongst consumers, a recent study by Capgemini found that financial institutions are relatively slow to adopt mobile banking capabilities – much to the chagrin of their customer base. So what can banks do to increase customer satisfaction and expand on their mobile offerings?

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Social Media Analytics: What, How, and When You Should Be Measuring

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Whether you are just getting started with your social media presence or you have an active and engaging fan base flourishing on various networks, paying close attention to your social media analytics can help you better understand your audience, increase your engagement, and make more informed decisions on your customer outreach and digital marketing efforts.  (more…)