The document discusses challenges for financial institutions on social media. It notes that creating engaging content with limited resources is a key challenge. The document emphasizes building relationships over sales pitches on social media. It recommends allocating a portion of the marketing budget, such as 10%, to social media efforts. Goals of the discussion include discovering challenges, defining necessary social media elements, and providing action items to improve financial institution social media strategies.
4. Divider Slide Option 1
“Social
is
no
longer
a
“part-‐3me
job.”
It
requires
3me
and
aPen3on,
which
can
be
a
challenge
for
resource-‐
strapped
banks.
So
the
biggest
challenge
I’ve
seen,
is
how
to
create
great
social
experiences,
with
limited
resources.
#BankOnSocial
@Ray_Rahmati
6. Divider Slide Option 1
“Focusing
on
sales-‐pitch
messages
rather
than
rela3onship
building.
#BankOnSocial”
@mosamarketing
“I
see
banks
get
trapped
in
transac3onal
thinking
when
they
should
always
be
focused
on
building
a
rela3onship
#BankOnSocial"
@Ray_Rahmati
7. Divider Slide Option 1
“But
the
biggest
mistake
is
geUng
hamstrung
by
#compliance.
Be
mindful
of
the
regula3ons
but
don’t
let
them
s3fle
#BankOnSocial”
@Ray_Rahmati
9. Divider Slide Option 1
“Latest
industry
data
that
I’ve
seen,
shows
that
most
companies
allocate
a
minimum
of
10%
of
marke3ng
budget
on
social
#BankonSocial”
@Ray_Rahmati
“An
allotment
for
paid
advg
because
organic
reach
(esp
FB)
is
low.
Don’t
think
of
social
media
as
“free.”
#BankOnSocial”
@gurufox
13. Divider Slide Option 1
“1.
goals
2.
choose
your
channels
3.
research
market
4.
content
calendar
(or
something
like
that)
#BankOnSocial”
@oliviawood_610
“You
need
to
ask
the
tough
ques3ons.
And
that
starts
with
”what
is
the
business
challenge
we
MUST
solve
as
a
bank?”
#BankOnSocial"
@Ray_Rahmati
14. Divider Slide Option 1
“Also
ask
if
you’re
internally
suppor3ng
the
message
you
project
on
#socialmedia.
To
work
they
must
match
#BankonSocial”
@mosamarketing
16. Divider Slide Option 1
“COMPLIANCE!
Also,
the
rest
of
the
marke3ng
team
so
everything
works
as
a
unified
well-‐oiled
unit.
#BankOnSocial”
@FredCntyBank
“Solid
point.
Sit
down
with
compliance
EARLY
AND
OFTEN
to
discuss
and
set
guardrails.
#BankOnSocial"
@Ray_Rahmati
18. Divider Slide Option 1
“Get
your
approvals
ahead
of
3me!
Don’t
wait
un3l
you
want
to
post
to
have
it
approved.
#BankOnSocial”
@oliviawood_610
“Yes!
A
content
cal.
with
a
mix
of
evergreen
&
real
3me
content.
Compliance
can
approve
way
ahead
#BankOnSocial"
@HelenLawr
19. Divider Slide Option 1
“It’s
about
quality,
not
quan3ty.
Don’t
set
goal
to
post
7x
a
week.
Aim
for
a
few
quality
posts
that
will
provide
value
#BankOnSocial”
@Ray_Rahmati
21. Divider Slide Option 1
“Don’t
focus
so
hard
on
the
conversion
and
the
transac3on.
Focus
more
on
building
the
rela3onship.
Then
the
sale
will
come
#BankOnSocial”
@Ray_Rahmati
“Every
rela3onship
takes
3me
to
build.
Use
social
to
create
lots
of
touch
points
to
build
those
rela3onship
#BankOnSocial”
@Alukomnik
23. Divider Slide Option 1
“For
us
its
par3cipa3on,
we
are
a
small
org.
so
if
our
employees
are
excited
we
are
doing
something
right
#bankonsocial”
@oliviawood_610
“Average
response
3me
and
response
rate.
Set
benchmarks,
look
at
the
data
olen
so
you
can
measure
increases
in
efficiency
#BankOnSocial”
@Ray_Rahmati
25. Divider Slide Option 1
“Show
them
what
your
compe3tors
are
doing.
Show
leadership
the
convos
your
customers
are
having
in
social
WITHOUT
YOU
#bankonsocial”
@Ray_Rahmati
“Exhibit
your
community
events
and
staff.
Easy
place
to
start.
#bankonsocial”
@FredCntyBank
26. Divider Slide Option 1
“One
easy
trick
is
to
take
photos
and
do
two
minute
interviews
(talk
to
compliance
about
them
of
course)
#bankonsocial”
@Alukomnik