In order to remain competitive, many companies, including banks, have turned to social media to keep customers engaged, updated and happy. There are currently 1.23 billion people with a Facebook account and 328 million with Twitter accounts.
The digital world can sometimes feel overwhelming and exhausting. Weeks spent in front of the computer with a cell phone at your ear can lead to a sense of enormous stress. This is why people find that it makes sense for them to take a break from it. it's time for a digital detox!
The concept of social selling is simple: it aims to do away with traditional cold calls/emails by personalizing the whole concept. With LinkedIn, Twitter, Facebook and analytic tools, you have potential investors, employees, colleagues, clients and most importantly, customers, literally at your fingertips.
Many industries have taken to social selling like fish to water, but the banking industry in particular is facing some challenges. The governing body for financial institutions, the Federal Financial Institutions Examination Council (FFIEC), has released a press release regarding this that’s got some banks confused.
Banks, credit unions and financial institutions of all sizes are now making social media an integral part of their marketing strategies. While some of this is defensive, most now recognize that a smart social media strategy can strengthen an organization’s brand, promote its products and build superior customer relationships.
The challenge facing financial institutions is that their social media efforts are subject to increasing regulatory oversight. In response, it is essential to develop comprehensive policies and procedures to assure that the company and their employees are complying with applicable regulations.
When it comes to bank marketing ideas, a novel approach that helps to expand your brand presence online is a social media contest. Creating a social media contest will attract new customers and increase customer engagement with the bank, which in turn significantly grows your active online audience. Best of all, these benefits are achieved organically when a social media contest is strategically and efficiently created. This article provides you key tips to keep in mind when creating a social media contest to ensure you meet your audience engagement and growth goals.
A Contest Should Focus on Organic Promotion to Achieve Marketing Success
A key facet to understand about social media marketing is that campaigns are most successful by focusing on organic growth, and there are several great ways to achieve this. One way is to encourage users to share the contest. A great contest will get users excited about winning, and this will result in them doing a lot of the marketing legwork for you. They will share the contest details on their social media platform of choice and other users will then check out the contest and do the same.