Why Facebook Matters: A Guide for Financial Insitutions

How much does social media affect your credit union or bank? Whether you have a rigorous posting schedule or log in a few times a month just to check things out, the answer is: more than you think.

In an article from creditunions.com on turning “Likes” into loans, they break down the importance of forming a virtual relationship and the impact it can have on your financial institution.

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The article suggests that, while you can’t exactly track ROI on social media, you CAN effectively follow a few steps to make sure you’re seeing the results of your effort. First, post regularly with thoughtful content. By asking interesting questions or requesting that fans “Like” your status if they agree (yep, you can do that) you’ll stay at the top of news feeds and give members a reason to check back frequently.

Once you’ve got the content covered, check interactions (i.e. comments, shares, favorites and re-tweets) to see if people are engaging with what you’re saying. Then cross-reference it with marketing stats. For instance, did you notice more people signing up for a seminar after you posted a link to register on your Facebook page?

One tip that the article didn’t mention was making your content sharable. When you create emails using the Email Wizard, make sure to add descriptions that will show up when people chose to share the content of your email. That way when you’re promoting a contest or announcing big news, it’s easy for email recipients to spread the word with the click of a button.

Have you noticed a difference when you engage actively in social media? Tell us about it!

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