There is a good article on bai.org covering how banks can win at social media. It offers some good pointers. But like the majority of articles offering financial services social media advice, it does not go far enough.
Yes, we should have someone dedicated to a social media effort. Yes, we should provide timely updates, respond to customer/client posts, and focus on helping instead of selling. But honestly, this is simply the price to play today. To take financial services social media efforts to the next level, we need to provide great content. Content that helps people solve a problem or take advantage of an opportunity that will improve their lives.
For an excellent example, check out how the folks at Mint or Ameriprise Financial post. Both are helpful and engaging in delivering insight, helpful hints, useful articles and more. This is financial services social media done right.
Banks have been notoriously slow at getting this. But here’s how we can fix that. Let’s stop posting the picture of the bank vice president shaking hands with the chamber of commerce president. Honestly, nobody cares. In fact, customers regard this as self-serving junk. It’s getting in the way of why they engage with social media. Instead, let’s start asking ourselves how we can help them. Then, post great content that can make a real difference in their lives.