The latest social media news and tips for community bankers
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ICBA Hosts New Years Financial Literacy Twitter Chat
With the new year already underway, many of your community bank's customers are setting personal finance goals and looking for resources to help achieve the goals. To this end, ICBA is hosting a Twitter chat on Friday, Jan. 31 that will focus on best practices to help consumers accomplish their personal finance New Year's resolutions.
Guest Tweeters will include ICBA's Senior Executive Vice President and Chief of Staff Terry Jorde; BankRate, Practical Money Skills for Life, National Jump$tart Coalition and award winning Washington Post columnist Michelle Singletary.
ICBA members are encouraged to join the chat to share their expertise and advice.
When: Tune in on Friday, Jan. 31 at 2 p.m. (Eastern time) and follow the hashtag, #NewYearFinLit
More Information: Not sure how to participate? Check out our Twitter Chats 101 and Tweeting for Community Bankers documents.
Final FFIEC Social Media Guidance Released
Last month, the Federal Financial Institutions Examination Council released final guidance on the usage of social media by financial institutions. The guidance is meant to not impose new regulations or requirements to the usage of social media. Instead, it seeks to provide clarification and alert of risk related to the usage of this channel.
A conference call that took place after the release of the guidance emphasized that social media is to be treated as another form of communication where existing regulations may apply. The guidance also discusses third-party risk management, reputation risk and more. Read the guidance.
Go Local for the Holidays Social Media Success Stories
In 2013, ICBA launched its annual Go Local for the Holidays campaign with two new social media ideas: a Twitter chat and a Facebook contest. Both the chat and contest garnered an impressive amount of engagement and has enhanced the conversation on all things local for the holidays across social media.
The #GoLocalHolidays Twitter chat took place at 2 p.m. (Eastern time) on Tuesday, Dec. 3, and it included influential guest tweeters such as the U.S. Small Business Administration, Business Alliance for Local Living Economics (BALLE), American Independent Business Alliance (AMIBA), National Federation of Independent Business (NFIB), a local Washington, D.C., news anchor reporting on DC’s Shop Local Week, and Chesapeake Bank, a local Virginia community bank pioneering a Shop Locally campaign in its community. The chat garnered nearly 700 tweets, more than 100 participants and hundreds of thousands of exposures. During the chat, participants discussed local community happenings and events that encouraged consumers to shop locally and statistics on why shopping locally for the holidays and year round is so important. Read the chat timeline.
The Main Street Holidays Facebook photo contest also garnered exposure, engagement and a good amount of comments, likes and shares from those who claimed that their Main Street was the best decorated for the season. Community bankers and consumers submitted more than 60 photos of their Main Streets and only five made it into the voting phase. After a week of intense voting through liking the photos, Bank of Missouri’s Cape Girardeau Main Street came out on top with more than 1,500 votes. During the week of voting, ICBA’s Facebook page reached a wide audience of 48,000+ people and garnered 8,400+ likes, comments and shares; 17,000+ post clicks; and 3,000+ people talking about this.
A key takeaway in running future social media campaigns is to create ideas, resources and topics that resonate with your audience. Also, a little friendly competition never hurts.
2014 New Year Resolutions: Social Media Edition
The beginning of a new year is a great time to reflect on the past and to capitalize on future opportunities. Here are some ideas and goals which you may or may not have reached in 2013, but can make a part of your 2014 social media goals as a community banker.
- Join Twitter and tweet. In the age of instant information, many are taking to social media to find their news, engage with others in their field and to voice their opinions on issues important to them. Community bankers can find their voice on the medium as well.
- Establish a social media policy. Before embarking on a new campaign, communications method or tool, it’s always important to establish parameters, strategy and feedback mechanisms on how to engage in a new medium. Find out more about FFIEC guidance and what a policy should include
- Create an employee social media training session. Once you establish a policy, clue employees in on how to use social media professionally at work or review what is to be expected.
- Keep in mind a visual element for all channels. The predominating trend in social media is that visual reigns supreme. Facebook newsfeeds are full of images and memes, and now Twitter is adding in enhanced tweets that automatically preview a photo or video in the timeline. Visual-centered networks, such as Instagram, Pinterest and Snapchat are gaining popularity. It’s no surprise that visuals will continue to have a bigger impact in 2014.
- Integrate your social media into your bank strategy. Similar to any form of communication, social media is most effective and successful if paired with your bank’s strategy and every day interactions. Your social channels are just an extension of your physical bank presence in the community. Make your social channels a digital enhancement of what’s going in your community.
Link to resources
What is Social Success?
Starting any type of marketing or communications campaign should include a measurement for success, but in a new space such as social media, what would those measurements be? Read more.
Reputational Risk: Do You Know What’s Being Said About You?
With the new FFIEC guidance emphasizing reputational risk, it’s important that community banks keep an eye on the web to see what’s being said about them. With nearly 1,200 members using the ICBA Social Media Monitor, participating community bankers can search up to five keywords, allowing them to find even more mentions of their banks from consumers, media and policymakers.
The ICBA Social Media Monitor searches millions of tweets, Facebook posts and blogs and hundreds of other social networks for any mention of your brand and aggregates the results into a simple daily email alert.
Current participants interested in adding or changing keywords can email email@example.com. Please include your bank name, email contact info, and list of new keywords and phrases to monitor. New participants can set up their preferences at www.icba.org/webmonitor or read frequently asked questions about the program.
Social Content Wanted: Get Featured in ICBA’s Social Media Channels
Do you want to be featured on ICBA’s Twitter, Facebook, or LinkedIn channels? As the nation’s voice for community banks on social media, we are constantly looking for positive stories and content from community banks around the country.
Please submit all content to firstname.lastname@example.org.
LinkedIn Social Media Group for Community Bankers
Do you have a question related to social media that’s specific to community banking? There’s a group for that on LinkedIn! Recent hot topics include posting photos from inside your bank, FFIEC guidance and partnering with local influencers. Join here.
Social Media Landing Page for Community Bankers
Want more resources on social media? Check out ICBA’s Social Media Landing page which includes relevant hashtags, who to follow on Twitter, compliance resources and more. More Social Media Resources.
Take this edition’s Quick Poll Quick Poll on social media hurdles, and view results from the previous poll on social media policy.