Ben Timmons

Recent Posts

View Compliance as a Guide — Not a Restriction — for Social Media

Posted by Ben Timmons on March 3, 2020

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.

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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

Social Media Moves at Lightning Speed. Here’s How Banks Can Keep Up.

Posted by Ben Timmons on January 7, 2020

Today’s consumers are used to getting information when and how they want it. PwC reports that almost 80% of U.S. consumers identify “speed, convenience, knowledgeable help, and friendly service” as the most important attributes of positive customer experiences. That’s why slow, inefficient social media content creation and approval processes can lead to a perception of poor customer service — which can eventually cause you to lose important customers.

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Topics: social media content, Social Media for Banking, Social Selling, Social Listening

Governance and Control in Social Media (An ABA Research Study)

Posted by Ben Timmons on December 3, 2019

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 approaching social media and compliance.

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Topics: marketing best practices, social media for loan officers, Social Selling, Employee Advocacy, ABA

Undergoing an M&A? Here Are 4 Key Social Media Considerations

Posted by Ben Timmons on October 8, 2019

 


Earlier this year, BB&T and SunTrust Banks announced that they would be merging. Combined, they created the sixth-largest bank in the United States. With big banks growing more powerful by the day, regional banks have started to realize that if they hope to compete, they need to consider their own M&A options.

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Topics: social media strategy, social media compliance, Employee Advocacy

Why Credit Unions Need Social Media to Truly Serve Their Communities

Posted by Ben Timmons on August 20, 2019

 

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.

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Topics: employees, marketing best practices, Social Media for Credit Unions, social media tips, strategy

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