Social media is a melting pot of all different types of people, from all different walks of life, with multiple points of view. That being said, it’s difficult to figure out who your bank needs to speak to, or how to speak to all of them at once.
Besides, after all is said and done, your goal is to nurture relationships. This way, when a purchasing decision is to be made, they look to your bank. So what are the relationships that each bank needs to nurture to make sure everyone feels included.
The following three types of relationships all need to be nurtured to have maximum effectiveness on social media.
Prospects are everywhere, and by using social media to post about their life, they are letting marketers know exactly what products and services they are interested in. Using tools built into social media platforms, marketers can mine for these consumers, and start a relationship.
Here are two quick ways to find potential prospects through social media.
This can be used to search industry specific keywords and find out who is talking about them. In order to narrow it down, come up with 3-4 keywords that are most important to your business.
Many individuals on LinkedIn belong to groups to exchange information and advice. A simple search of these groups can get yourself involved with the right people. Once you find these groups you can narrow them down, join as you please, and begin building relationships with already interested consumers.
Social media is a very powerful network, and consumer behavior can be influenced by reaching out to prospects. In a study by The Advertising Research Foundation, 54% of consumers have admitted to taking action after seeing a brand mentioned in a Tweet. Of those that take action, 23% visit the company website, 20% search for the brand online, 19% consider trying the brand, and 18% ReTweet Tweets mentioning brands.
While social media is extremely busy, and full of life, prospects are out there. Finding them and interacting with them is one relationship banks want to nurture.
Customers are already a lover of your institution, many of which have lives within social media. In a study by The Advertising Research Foundation, they found that 80% of consumers mention a brand name when Tweeting. That means that it is very likely your customers are mentioning your bank on social media, whether you’re on it or not!
That being said, these relationships are nurtured differently from prospects. Your customers already know what products and services you offer, some may already be following your social media channels, and others are waiting to be found.
There are many social media tricks you can use to help nurture relationships with your customers. Here are a few.
In both Facebook and Twitter you can create lists to organize your customers, and easily see their activity. This makes your customers easy to find, and avoids having to dig for status updates or Tweets.
Remember that social media is based on the premise of being social and having interactions. Therefore, anything you create shouldn’t be one sided. Social media isn’t a press release, but rather a community that fosters a conversational environment.
Devote Time And Effort
Relationships with your customers take time and effort. Think about those customers that have been walking through your bank’s doors for years. The relationships you have with those individuals are very different from those who walk through your doors for the first time. But those relationships have taken time to develop. Social media relationships are no different.
Get A Personality
Social media is full of family members, friends, and brands alike. This means that the battle for attention is heightened. That being said, it is important for your bank to have a voice, and a personality.
For a bank, these might include charity organizations, industry influencers, or legislative personnel. The important thing to remember is, that while they may not result directly influence your bank’s ROI, they can help influence others.
Ask yourself what other segments or groups of people your bank interacts with, and how you want to interact with them on social media. It will help expand your network, project your bank image, and add diversity to your social media strategy.
Prospects, customers, and other individuals, are all important to growth and the interaction your social media strategy receives. It’s just a matter of finding them, and then understanding the best way to interact with them online.
As time passes, and interactions occur relationships will develop. Your bank will see it’s social media following expand, engagements rise, and loyalty solidify.
What more could your bank ask for? Let us know what you think in the comments section below!