SUCCESSFUL SOCIAL MEDIA STRATEGIES FOR TODAY'S … · SUCCESSFUL SOCIAL MEDIA STRATEGIES . FOR TODAY'S COMMUNITY BANKER . Eric Cook Digital Strategist WSI Digital Marketing Battle
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SUCCESSFUL SOCIAL MEDIA STRATEGIES FOR TODAY'S COMMUNITY BANKER
Eric Cook Digital Strategist
WSI Digital Marketing Battle Creek, Michigan
eric@poweredbywsi.com 269-841-5007
August 8 & 9, 2019
Successful Social Media Strategies for Today’s Community BankerGraduate School of BankingAugust 8 & 9, 2019Instructor: Eric Cook
@EricCook
• “Recovering Banker” of 15 years
• MBA & ‘03 GSB Madison while a banker• Faculty @ GSB and five other banking schools
• Digital Strategist Since 2007 with WSI• Focused on Community Banking and Digital Marketing
• Three-Time Contributing Author – Digital Minds
• Co-Founder – Digital Risk Assessment™ via DigitalRCP.com
• Let’s Get Social – www.About.Me/ECook
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2nd Edition on Amazon… (3rd coming soon!)
http://bit.ly/wsi-book2(DOWNLOAD on Amazon Kindle for FREE)
Developing Your Digital Road Map
Have Your Persona Profile Sheet Ready!
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• Organic Visibility• Convincing search engines and social platforms to make your
information available to your chosen market segment(s)• Paid Visibility
• Leveraging some form of advertising or sponsored budget to get your message in front of your chosen market segment(s)
• Personal vs. Business (or both)• Understand the role of the employee and their ”brand” in the overall
marketing effort to support the Bank• Content Strategy
• Use of information that is relevant to your market segment(s) focused on education and learning, not just on products and services
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Before We Begin - Key Definitions
Now, Let’s Get Online…
Socialnomics
Socialnomics 2019
Look Who’s on Social…
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Yet, Is This Your Reality?
Who Needs to “LIKE” Social Media?
ComplianceEmployees
Your CommunityYour Institution
We Must Become SocailWhile Mitigating the Risks…Security
Privacy
Compliance
Productivity
Reputation
Legal Issues
RELEVANCE
FFIEC’s Final Guidance on Social Media
• Risk-based strategy• Mandates monitoring• Formal policies and procedures• Third-party vendor management• Staff training & education• Compliance and audit• Reference to existing regulations• Get it… http://bit.ly/ffiec-final
Source: FFIEC & The Financial Brand
We Manage Risk Every Day
Source: The Altimeter Group
Readiness Assessment
1. Leadership Commitment
2. Social Media Knowledge
3. Customer Engagement
4. Competition
5. Staff and Resources
6. Social Media Plan7. Process
Documentation8. Policy and
Measurement
Are You Prepared? Eight Key Areas…
Readiness Assessment (cont.)
GAP Analysis● Conduct planning session based on desired state● Identifies
areas offocus
● Groupdiscussionandbenchmarks
Get Yours!riskassessment@poweredbywsi.com
Then, Consider OperationalizingYour Social Efforts
There's a Genuine Financial Impact
Coming Soon – LinkedIn Elevate
What Happens In An Internet Minute?A lot!
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@EricCook 22
• Facebook logins• 525.6 Billion
• Google searches• 2 Trillion
• WhatsApp/Messenger• 13 Trillion
• Emails sent• 99 Trillion
Scaled Monthly
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The Key Objective:KNOW me. LIKE me. TRUST me.
Social allows for this to happeneven when you’re not part of the process
Remember the Evolution of Email?
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Meet My Spirit Animal – Gary Vee• The “regulation” crutch no
longer works - INNOVATE• Above all else, customers
value their TIME• Get out of SALES mode – you
are there to ADD VALUE• Underpriced OPPORTUNITIES:
• Podcasts, LinkedIn, YouTube and Facebook ads
• Use DIGITAL as a gateway to real world IN-PERSON events
@EricCook27
2019 #FBForum
Social Media Explained By Coffee
1. I LIKE Coffee2. I am drinking #Coffee
#Hot #Yum3. I am good at drinking
Coffee4. Watch some videos of
me drinking Coffee5. Here’s a picture of my
Coffee (that will self-destruct in 10 seconds)
7. Here’s a collection of pictures and recipes of Coffee drinks
8. Here’s where I drink Coffee (and I’m the mayor)
9. Here’s a vintage picture of me drinking Coffee
10. I work for Google and drink Coffee11. Let’s chat (for free) while we drink
Coffee together (and it’s encrypted too!)
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Top 20 Banks on Social Media
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Source: https://thefinancialbrand.com/82332/power-100-2019-q1-bank-rankings/
Top-Performer Observations• Engaged and respond to comments (some even using
their personal names)• Leveraging video to tell their stories• Proactive Messenger on Facebook inviting conversations• Twitter Brand and Twitter Help accounts• Increasing use of #hashtags, GIFs, and emojis• Multiple platforms (Instagram (stories), LinkedIn, and some
even on Snapchat)
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Using Video to Tell Your Story
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YouTube = World’s #2 Search Engine
Title Insurance613,000 Credit Score
390,000
Mortgage Loans53,400
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Video on the GO!
YouTubeComing Soon!
34@EricCook
LinkedIn Joinedthe Video Club…• Did you notice this
recent addition to the LinkedIn app?
LinkedIn LIVE now in private
beta…
@EricCook35
Millennial JobSearch Tool?
@EricCook36
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Look Where It Got Her!
LinkedIn Live/VideoLinkedIn.com/in/goldie – Goldie Chan
@EricCook38
Follow #DailyGoldie on LinkedIn
@EricCook39
Some Live Video Tips• Build anticipation for your live event and promote it• Write a strong description• Encourage comments and sharing during process (and
interact with them)• Remind participants of upcoming events (and how to
follow you)• Remember that some will watch it in replay• Consider enhancing quality of your transmission
• External battery power, network/WiFi signal, directionalmicrophone, stability (tripod)
Resource: https://www.facebook.com/facebookmedia/best-practices/live@EricCook
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Big Blue’s Social Plan…
Stories Groups Messenger Video
@EricCook42
Share Your Bank’s Story
@EricCook43
Are You Talking to (with) Your Audience?
@EricCook 44
Key Facebook Features• Watch Party for live video• Groups tab and Groups button for your website• Messenger/website and chatbot options (and AR effects)• Filtering messages• Facebook live video and Watch channel• See First (for profiles and pages)• Download ALL your information• Video cover photos
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Chatbots – The Future of Communication?
Source: MailChimp and Neil Patel
Open Rate: 88%CTR: 56%
Typical Email Engagement Rates
@EricCook47
Take the Conversation to the Next Level
Are Your Ready for a Bot-Driven, Platform Agnostic Solution…?
@EricCook48
Greater Volume @
One-Tenth the Cost.
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Microsoft and LinkedIn – Its’ Here!
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Without Even Leaving Office 365This new experience, rolling out now to first release customers, provides rich insights about the people you’re working with—inside and outside your organization—right from within Office 365.
Read More: http://bit.ly/ms365-linkedin
Key LinkedIn Features• Updated profile layout• Know your SSI (Social Selling Index)• Find Nearby functionality• Native photos and video
• Live video available in private beta now• Message system (green dots)• Updated mobile app
• Follow hashtags• Posts and articles to share information
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Social Selling Index:Your Own Personal Baseline
• Visit LinkedIn.com/sales/ssi to get your score!
Social Selling Index – What It Means
So Many Posting Options!1. WHO can see your post
• Anyone, Anyone + Twitter, Connections, Groups
2. WHAT do you want to say• Don’t forget @mentions
3. Add a HASHTAG (or two)• Yup, these help
4. Something other than TEXT• Add a Photo, Video, or Document
5. Share KUDOS• Unique way to give praise on LinkedIn
@EricCook55
Find Your Tribe…
@EricCook56
Inside the LinkedIn Ecosystem
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Green Dots and Mobile Posting Options
New Interaction Options
@EricCook59
NEW
SLIDE!
This is NOT Relationship Building…
LJ
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Key Twitter Features• Character expansion – now 280• Questions and Answers / Polls• GIF integration• Bookmarking and share Tweets• Lists (public and private)• Allow DMs from anyone (support)• Timeline filtering (curated vs. natural)• Working on an EDIT feature???
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Key Instagram Features• STORIES!!!• Video chat (individual and group)• AR camera effects (like Snapchat)• Enhanced search capabilities (Followers and Following)• Account switching• New business tools/accounts• Feed filtering and notifications• Follow hashtags
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Information Overload?
It’s not a case of Information Overload as much as it’s a case of Filter Failure.
-Author, Clay Shirky
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#Hashtags to the Rescue!
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#HashtagsGoMainstream
@EricCook
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Telling Your Story:First, Understand the Buyer’s Journey
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REACH
ENGAGEMENT
CONVERSION
• Research Reports• eBooks• Editorial Content• Expert Content• Whitepapers• Educational
Content
• Industry Reports• Whitepapers• eBooks• Expert Guides• Webinars• Testimonials
• Bank Comparison• Rate Comparison• Applications• Visits
Awareness Stage
Consideration Stage
Decision Stage
How to Become a ResourceShare information that is educational and informative to your
connections – don’t just try to sell them something
Social Content – Think Like a Publisher
Ninja Tool: AnswerThePublic.com
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Create Your Personalized Newsfeed• Think about your “audience” and what they want to know
• Find and share this information to help others• My favorite app to get you started… Flipboard!
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How Put Flipboard to Work for YOU• Success• Entrepreneurship • Business• LinkedIn
• Time Management• Health• Social Media• Fitness
Now Share on LinkedIn
And Know How You’re Doing
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The Process of Building a PersonaKnow what makes your customers “tick”
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Here’s Something to Help…
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BIGversion
available
• Currently renting for the past 2-5 years
• Married with two kids (< 10 years)
• At least one college graduate
• Age 30-40• HHI $50k-$75k• Dual employed• Only one is a
college graduate
• Word of mouth• Existing deposit
customer• Search
engine/digital
• Social media• REALTOR referral• Education seminar• Employer program
• Still paying off student loans
• Two kids in school, sports, schedules
• Credit card debt
• Time management• Saving for a down
payment• Intimidated by the
loan process
• Can they get a loan• How does their
credit stack up• How much for a
down payment
• How much will it cost
• Will they need a co-signer
• How long will it take
• To feel dumb• Hassle or a lot of
manual paperwork• To be un-informed• Long decision time
• To be told NO (work with them)
• To have to take time off work
• Online convenience• Education and
information• Personal attention• Reputation (WOM)
• Fair interest rate and fees
• Full financial partner• Trusts their lender
and the institution
• ”Hold their hand”• Educate and
prepare• Work long-term to
repair credit
• Other banking conveniences
• Financial planning services
• Make it happen!
First-Time Homeowner
Community 1st Bank August 3, 2018
More Helpful Tools and Apps• Content sourcing and ideas
• Nuzzel, Fipboard, SmartBrief (emailupdates too), Zest (Chrome)
• Don’t forget local and national news sites• Image/video creation
• Buffer’s Pablo• Canva and Adobe Spark• Lumen5 (videos from blogs)• RelayThat, Animoto, Promo, Wave.video
• Post scheduling and interaction• Buffer• Hootsuite• Tweetdeck (part of Twitter now)
Finally, Lock Down Your AccountsFor your protection, you should be using two-step (factor)
authentication on ALL of your social media accounts
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Tips to Remain Relevant• Train and empower your employees to engage
• Organic reach will continue to be a challenge• Your employees are there anyway
• Consider new channels• Use more images to tell your story• Leverage video to build familiarity
• Embrace mobile• Website, apps, engagement, location
• Focus on educating, providing value, and being genuine, not just selling products
Don’t Forget Your Book!
http://bit.ly/wsi-book2(DOWNLOAD on Amazon Kindle for FREE)
Let’s Keep in Touch!Eric Cook
eric@poweredbywsi.comPoweredByWSI.com/BES
FreeWebinarWednesdays.comAbout.me/ecook
http://bit.ly/wsi-book2
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