Social media and contests | July 2011 SMB Madison


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Stephanie Byrnes of the State Bank of Cross Plains was the speaker at Social Media Breakfast Madison. With a full room, Stephanie shared her experiences with running two separate contests, dealing with fraud issues, success, and lessons learned.

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Social media and contests | July 2011 SMB Madison

  1. 1. Presented by Stephanie Byrnes,State Bank of Cross Plains
  2. 2. Presentation Outline History – Why Social Media? Bank Compliance  Reputation Monitoring  Social Media Policy Banks and Social Media Contests    Successes  Challenges/Fraud  Analytics
  3. 3. Who is the State Bank of Cross Plains?  103-year-old independent, community bank with ten locations in Dane County  Black Earth, Cross Plains Main, Cross Plains Motor, Madison, Middleton East, Middleton West, Mount Horeb, Oregon, Verona and Waunakee  Local decision-making and servicing  We support the communities we serve
  4. 4. Why Social Media? Started social media in January 2010. We were looking for an unconventional approach (at least in the banking industry) to promote our bank, products and events beyond our local footprint to the online community.  Facebook  Twitter  Linkedin  Word Press  YouTube Our main goal was to grow through new channels and better personalize our relationships with customers and non customers.
  5. 5. Implementation Research Compliance - Assists the Bank in managing its risk, which can be defined as the risk of legal or regulatory sanctions, financial loss, or loss to reputation a bank may suffer as a result of its failure to comply with all applicable laws, regulations, codes of conduct and standards of good practice. Worked with Outrigger 3 to get Facebook set up and customized and to learn best practices. Then we were on our own. 1 person, me, runs all of the bank’s social media efforts.
  6. 6. Statistics 462 Facebook likes 703 Twitter followers 2,100 Blog views
  7. 7. •Reputation Monitoring•Social Media Policy
  8. 8. Reputation Monitoring
  9. 9. Twitter Monitoring: TweetDeck
  10. 10. Twitter Monitoring: TweetDeck
  11. 11. Twitter Monitoring: TweetDeck
  12. 12. Dealing with Negativity Realize you cannot control conversations Opportunity for feedback Gain respect by accepting criticism Address open and honestly Let the world see how you handle problems  Example: AflacSource: Eric Cook, Certified Internet Business Consultant
  13. 13. 10 Social Media Policy Tips Remind employees to familiarize themselves with the employment agreement and policies included in the employee handbook. State that the policy applies to multi-media, social networking websites, blogs and wikis for both professional and personal use. Internet postings should not disclose any information that is confidential or proprietary to the company or to any third party that has disclosed information to the company. If an employee comments on any aspect of the companys business they must clearly identify themselves as an employee and include a disclaimer. The disclaimer should be something like "the views expressed are mine alone and do not necessarily reflect the views of (your companies name)."
  14. 14. Social Media Policy Tips Continued Internet postings should not include company logos or trademarks unless permission is asked for and granted. Internet postings must respect copyright, privacy, fair use, financial disclosure, and other applicable laws. Employees should neither claim nor imply that they are speaking on the companys behalf. Corporate blogs, Facebook pages, Twitter accounts, etc., could require approval when the employee is posting about the company and the industry. That the company reserves the right to request the certain subjects are avoided, withdraw certain posts, and remove inappropriate comments.
  15. 15. How are Banks Leveraging SocialMedia PR/Brand Awareness Customer Service Consumer Education Online “Resource Center”
  16. 16. Example: @BofA_Help
  17. 17. Example: @BremerBank
  18. 18. Example: @1stMarinerBank
  19. 19. Example: @statebankofcp
  20. 20. Example: – all about community!
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  23. 23. 2010 Campaign Goals Give back to the community by gaining exposure for Dane County non-profits. Offer a unique online experience in the financial services world. Create a PR campaign to be seen as a corporate partner that gives back to the community it serves and is progressive. Gain influence and engagement (Facebook likes, Twitter followers, mentions, retweets, wall posts).
  24. 24. Campaign Details/Results 164 Charities 70,081 Votes 2 Winners:  Waunakee Community Band  Girls on the Run of Dane County Publicity: WI State Journal, News Sickle Arrow, various non-profit newsletters, email blasts and social media hits
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  26. 26.
  27. 27. 2011 Campaign Goals Gain exposure for non-profits by creating brand advocates that rally for their favorite organizations. Exceed 2010’s campaign and make the campaign more competitive. Create a PR campaign to be seen as a corporate partner that gives back to the community it serves and is progressive. Gain influence and engagement (Facebook likes, Twitter followers, mentions, retweets, wall posts).
  28. 28. Campaign Details/Results
  29. 29. Campaign Challenges: Fraud There are always way to game any online contest. You need to monitor fraud and be prepared in the event that it happens.
  30. 30. How to Promote Contests1. Kick off the contest by enlisting your current fans, past contest participates and your email marketing database.2. Cross-promote online: Twitter, YouTube, corporate website, blog, etc.3. Promote offline: traditional advertising (newspaper ads, radio, billboards), receipts, buckslips, etc.4. Make your contest shareable.
  31. 31. What have I learned over the lastyear and a half? Social Media is a great way to give your business a personality and interact with customers, non- customers and COIs. TweetDeck is AMAZING! Make sure you are monitoring social media in some way. Monitor your competition. When running contests, be ready for anything…including fraud. Read and other social media blogs to stay abreast of trends.