Getting Social - A Reputation Management Plan (Part 1 of 3)

(PART 1 of 3)

We have a lot of community banks and credit unions asking us about Social Media.  "How can we…?"  "Should we…?"  "Can you help…?"

Well, to all you community banks and credit unions … Yes we can!  Yes you should (probably)!  Here’s how…

As you consider Social Media, or as you craft your plan, consider the following:

OBJECTIVE

As with any other marketing element – start by sole searching.  What do you want to accomplish?

• Are you positioning yourself as an expert, product leader or as community-oriented?
• Are you trying to open a new direct line of communication (both ways!)
• Are you leveraging targeted relationships?
• Are you trying to increase awareness?
• Are you trying to start or direct the community conversation?

PRE-PLANNING

We believe that all good plans are built on a foundation of knowledge.  With complete understanding of the objectives of your social media initiative, the following should be identified:

• Audit of your institution's current social media image, use and capabilities
• Audit of social media usage and image of your key competition
• Survey exiting customers/members to determine:
• Social media wants/needs
• Current tools used

TARGETING / SEGMENTATION

Each social media tool provides unique opportunities to achieve specific objectives with specific target groups.  Twitter provides an immediate reaction with a predominantly younger demo.  Facebook provides more detail and can have images and link to your URL or micro-sites.  YouTube is more visually stimulating and can provide entertainment as well as education. Foursquare can help drive traffic and support promotions.

For social media to be most effective, it is crucial that you know your audience and use the social media tools that are geared toward that target.  Consider demographic segments and psychographic profiles.

Be on the look out for part 2 (Tools, Content & Tracking) on Wednesday 

and part 3 (Negative Feedback, Responsibilities, Following, Guidelines & Mistakes) on Friday.

MarketMatch is a full-service marketing firm, dedicated to the credit union and community banking community.  We utilize knowledge-based strategies to help you FOCUS on the efforts that will generate MOMENTUM and yield the greatest RESULTS for your bottom line.

Learn more here.

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