To go social or not to go social… that is the question.

In the industry of banking—I know I know.. we talk a lot about banking–…. Anyways… In the industry of banking, they as we know have been a bit behind the times when it comes to being social.  Do not get me wrong they are a bit behind the times in other things.. but we are here to talk social media.

Banks and credit unions were behind on joining the social media world because it is scary and at first (and even now) it is an unknown world.  With every item and word that is published by a bank in ads or press releases being checking and re-checked by compliance the idea of posting daily to blogs, twitter, and Facebook was not something people were going to get excited about- so they didn’t go social.  The problem was that their customer, vendors, and neighbors were all going social without them.  So if nothing else get onto facebook to see what others are saying! because you cannot control what you do not know.

Every good Bank of America Facebook?

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Weird huh?!

You can also find countless blogs and posts about their twitter accounts, and how they are handling their brand. 

When it comes to banks, and credit unions.. not all social media sites are going to really work out the way that they do for say.. a restaurant or pub…

Facebook- Works great! Banks are able to post things going on in their local community, show limited ads (compliance), promote a new service (Mobile Banking), and host contests that people can vote or share.

 This is when Citizens Bank joined FacebookImage

This is when TD Bank joined Facebook.. Image

Yes Facebook Launched in 2004

Twitter- Ok but not as good as Facebook! Twitter is hard because banks really don’t have that much going on every day, so they cannot use twitter the way it was intended.. they can post maybe 3-5 times a week… but let’s be real, how quickly would that get lost on your twitter feed?  

Pinterest- umm NO… Pinterest was made for people to be creative, and dream about things they do not have, and may never be able to afford… Banks have no place telling me how to save while I am pinning photos of my dream home, on an island, in Fiji ((PERSONAL THOUGHT))… but when you search Pinterest for banks… good luck finding more than a handful of active accounts

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Intagram- I won’t even comment on this- what are they going to post? They aren’t getting the likes or comments on Facebook, why would Instagram be any different? Really. – the only ‘banks on Instagram is Tyra!

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Four square- Do you want everyone to know when you want to the bank. Are you really willing to admit you are the mayor of a bank?! When was the last time you really walked into a bank?! Really?! 

http://thefinancialbrand.com/27303/pinterest-fails-banks-and-credit-unions/

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2 thoughts on “To go social or not to go social… that is the question.

  1. I think it’s very telling that it’s taken so long for banks to jump on the social media bandwagon. When it comes to Twitter I do agree that there are cases where the company could be starved for topics and content, but I don’t think this necessarily means that they cannot use the site effectively. While they might not be able to post sporadic updates such as “Come by and get some free pizza!” they can post meaningful, helpful articles and advice. It doesn’t even need to be complicated; the point is to make the follower feel like it’s a relationship, rather than an infomercial. Banks have your money in their pocket, so I’d imagine they’d have at least some sort of common ground to talk about.

    • i think you are on to something. you have a good point about the relationship already being there.. it is not on the bank to build on it and make it interesting! thanks for your comment!

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