Social media are online platforms that allow people to connect, share content, and have conversations; they include social networks, blogs, wikis and sites for sharing photos, videos and bookmarks, and account for about 10% of time spent online globally. While myths persist that social media are just for young people, over half of Facebook users and 80% of Twitter users are above age 25. Banks and other companies are recognizing they must have a social media presence to engage customers and monitor brand conversations happening outside of their control.