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.
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.
Now comes the fun part – choosing the social networks that will further your brand online. If it seems like an overwhelming task, no worries! We have assembled the Gremln Get Started Guide to help banks understand the value of social media. We will provide helpful tips on organizing your team, policies, and workflow; and guide you through the account set-up process for Facebook, Twitter, and LinkedIn.
One last thing – don’t forget the tools! You will need to monitor 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 Gremln social media management tools; and take a tour of our blog to find out the latest and greatest in social media news and compliance updates.
Download the Gremln Get Started Guide now, and follow #GremlnGSG on Twitter!