Intro:We began with a social media strategy for our largest affiliate, Zions Bank. Aside from launching each property, we’ve assisted in the execution of several successful Social Media campaigns, as well as creating weekly/monthly analytics reports for the properties. Based on the successes of Zions Bank’s strategy, we’ve worked to develop best practices and recommendations specific to the other affiliates.
Socialize:Social Media isn’t about simply pushing messages to your consumers. Invite them to join in the conversation with you, let them know you’re listeningCredible Voice: Consumers want to engage with people, not brands. Be personable and conversational, as if you were speaking to a friend. Listen and respond: Being a part of social media means opening your brand up to feedback, both positive and negative. Don’t ignore negative comments—respond to them. And unless it requires obtaining personal info from a customer, respond online so people know that you’re doing what you can to resolve problems. Negative comments are ok; it would be much worse if they weren’t saying anything about your brand. Write what you know: Write about your area of expertise, especially as it relates to your industry. Keep in mind which property you’re communicating on, be it Facebook, Twitter or blogs. It’s difficult to keep reader’s attention, so be concise and to the point.
Transcript of "Retail Financial Services Symposium"
Retail Financial Services Symposium<br />Matthew Wilcox<br />Vice-President, Director of Interactive Services<br />Zions Bancorporation<br />
Zions Bancorporation<br />Zions Bancorporation operates more than 500 full-service banking offices in ten Western and Southwestern states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah and Washington. <br />With $54 billion in assets and over 11,000 employees, it is one of the 40 largest banking companies in the United States.<br />Affiliate Interactive Services (AIS) acts on behalf of Zions Bancorporation to deliver innovative interactive solutions for affiliates, including:<br />strategic guidance<br />products and services <br />financial analysis <br />marketing strategies and programs<br />2<br />
Strategy Development<br />After Social Media Business Case approval, we executed a Social Media strategy for Zions Bank<br />Creation and implementation of individual strategies for:<br />Zions Bank Facebook Profile<br />2 Twitter accounts <br />one serving as a customer service portal<br />3 Blogs <br />2 external blogs, 1 internal<br />YouTube channel<br />Implementation of tools for monitoring and response, as well as metrics and analytics<br />Radian6<br />OmnitureSiteCatalyst<br />3<br />
Integration of Social Media<br />Social Media is not meant to replace traditional marketing methods, but simply to support them<br />Since launching Social Media properties for affiliates, we’ve worked to cross-promote through other channels such as email, advertisements (both print and digital), and websites<br />Banks who use Social Media intuitively are using it for:<br />Community Building<br />Product Research<br />Customer Service<br />Marketing & Promotion<br />Transparency <br />4<br />
Best Practices<br />Why would you want to be friends with your bank?<br />The Three E’s of Social Media: Engage, Entertain, Educate<br />How can banks do this?<br />Socialize with your consumers<br />Less monologue, more dialogue<br />Develop a credible voice<br />“Relax” the message<br />Listen and respond<br />Negative feedback can be a good thing<br />Write what you know<br />In any industry, customer service is more than just selling products<br />5<br />
Questions<br />What are some of the challenges of developing social media strategies in a regulated industry? <br />How can social media be relevant to banking?<br />How do you measure the success of social media in a financial industry? <br />What specific tactics do you employ to provide value to viewers of your social media properties?<br />6<br />
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