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Social Marketing 101

Social Marketing 101. Prepared for: NUVO Bank & Trust Company Prepared by: Market Mentors, LLC October 2010. Why Social Media? Your competition is using it Your customers are using it Your employees are using it Benefits : -Very Low Cost -Personal Brand Building

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Social Marketing 101

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  1. Social Marketing 101 Prepared for: NUVO Bank & Trust Company Prepared by: Market Mentors, LLC October 2010

  2. Why Social Media? • Your competition is using it • Your customers are using it • Your employees are using it • Benefits: • -Very Low Cost • -Personal Brand Building • -Build Relationships with Current & Potential Customers • -Reach out to Employees, Clients, Consumers, Contacts and Potential Employees • -Increased Visibility • -Increased Links (Leads to Better SEO) • -Networking Opportunities with Other Business Professionals

  3. Social Networking Outlining which communities best fit your business, finding out what your competition is doing and figuring out how to get the conversation started is key when using social media. Now’s the time to take advantage of the social web and get in touch with your customers! Social Networking will assist your business in: • Coordinating interaction between your current and potential customers • Generating brand and product interest • Developing conversation-centric campaigns • Driving action • Finding out where your customers are and what they think of you

  4. Examples of Financial Institutions Utilizing Facebook: www.facebook.com/arvestbank Pros: “About Arvest” box Company Overview Events Photos Videos and Commercials Community Services Frequently updated http://www.facebook.com/easthamptonsavingsbank Pros: Constant updates CRM Problem solving

  5. Suggestions: 1) Get creative. Anticipate the community’s needs and then try and supply real solutions to their problems. 2) Don’t be a pushy sales provider, no one likes to be approached that way. 3) Upload pictures of community events, renovations to office, grand openings, etc. 4) Post questions or quotes of the day. Interact with your customers. 5) Ask what you could be doing better, or what customers like about your business. 6) Post tips, links, articles, etc. *Your content should deliver on the three “E” elements: educate, enlighten, and entertain. 7) BE PATIENT! Social media is about networking, which we all know takes time. 8) Always remember the 90/10 rule. 90% of your content should be valuable to the reader and only 10% should be promotional

  6. Advertising on Facebook: • You create the exact ad you want with Facebook Advertising • Get your message across clearly with easy to use Ad Creation • Upload your logo and any other images you would like to use in the ad • Pay per impression (CPM) or per click (PPC). You choose! • Set daily maximum budgets (as little as $1/day) • Target users of a specific region (U.S., Massachusetts, Springfield, • etc.), gender, age, occupation, etc. • Schedule the ad to run on specific dates, or continuously • Modify accordingly to get the most bang for your buck!

  7. What is LinkedIn? • LinkedIn is the world’s largest professional network with over 60 million members and growing rapidly. LinkedIn connects you to your trusted contacts and helps you exchange knowledge, ideas, and opportunities with a broader network of professionals. • -Establish a personal profile or create a space for your business • Connect with professionals you already know or those you may want to establish a relationship with • Research company (prospect) information • Join Groups of interest to you, or, create your own • Post industry updates, job openings, events, etc.

  8. Groups: Linked Springfield Ma Business Network– 363 members Open to all members of the Springfield Massachusetts business community. Join us to collaborate, network, brainstorm, discuss, post and find job openings, and share our collective professional resources. Banking and Finance Technologies– 18,479 members Group established to share experience about systems and applications used in banking industry / financial institutions. American Bankers Association (ABA) – 3,749 members Founded in 1875, the American Bankers Association represents banks of all sizes and charters and is the voice for the nation’s $13 trillion banking industry and its 2 million employees.. Professional Trust and Fiduciary Systems – 965 members Designed for professionals working in trust companies to network and share information and opportunities. Individuals who have obtained or are pursuing professional trust credentials, such as through the ABA or Cannon Financial are welcome to join.

  9. Groups eMarketing Association LinkedIn Discussions – Members can ask questions, post updates, tips, etc. Example: “Looking for a venue/hotel for a conference with about 150 to 200 attendees - suggestions appreciated.” “Is Google the best way to Advertise your business on the web?” News – Members/Companies post articles related to the groups interest Example: “Five LinkedIn Power Strategies” “Wake Up to Facebook, Twitter. Five Tips for Using Social Media” “Write to Sell: Basics of Copywriting Workshop”

  10. Blogs • A blog is a type of website, usually maintained by an individual with regular entries of commentary, descriptions of events or other material such as graphics or video • Blogs usually provide commentary or news on a particular subject, others function as personal online diaries. The ability of readers to leave comments is a very important part of blogs • A collaborative blog is a blog in which posts are written and published by more than one author • Another means of social media to aid in Search Engine Optimization by adding links for your business, and an additional medium for your customers to use to learn more about you Example of a good collaborative bank blog -http://blog.wellsfargo.com/

  11. Google Alerts • Google Alerts are email updates of the latest relevant Google results (web, news, etc.) based on your choice of query or topic. • Enter the topic you wish to monitor, then click preview to see the type of results you'll receive. Some handy uses of Google Alerts include: • Monitoring a developing news story • Keeping current on a competitor or industry • Getting the latest on what’s being said about you or your company

  12. Social Media Appeals • Generation Y • Attract new customers • Become aware of problems • Increase frequency of interactions • Gather customer opinions • Promote sense of community Social Media Risks • Brand new • Platforms are proprietary (you have no say) • Privacy issues • Little regulatory guidance

  13. YOU’RE NEVER TOO OLD FOR SOCIAL MEDIA! • “Ah, that social networking stuff is for kids….” • There is no such thing as being “too old” for social media and there’s certainly no excuse for not using it to enhance your business in today’s marketplace. It’s easy and can be really fun! • “But I prefer talking to real people….” • The fastest growing demographic on Facebook are those between the ages of 34-55. • No one can walk, talk and chew all at the same time. We learn those skills over time – through practice and persistence. Social media is no different. We encourage you to give it a try!

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