social media and contests | july 2011 smb madison
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Presented by Stephanie Byrnes,
State Bank of Cross Plains
Presentation Outline History – Why Social Media?
Bank Compliance Reputation Monitoring
Social Media Policy
Banks and Social Media
Contests www.statebankhearsmyvoice.com
www.statebankcharitychampion.com Successes
Challenges/Fraud
Analytics
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
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
Word Press
YouTube
Our main goal was to grow through new channels and better personalize our relationships with customers and non customers.
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.
Statistics 462 Facebook likes
703 Twitter followers
2,100 Blog views
•Reputation Monitoring
•Social Media Policy
Twitter Monitoring: TweetDeck
Twitter Monitoring: TweetDeck
Twitter Monitoring: TweetDeck
Source: Eric Cook, Certified Internet Business Consultant
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: Aflac
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 company's 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)."
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 company's 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.
How are Banks Leveraging Social Media
PR/Brand Awareness
Customer Service
Consumer Education
Online “Resource Center”
Example: @BofA_Help
Example: @BremerBank
Example: @1stMarinerBank
Example: @statebankofcp
Example: facebook.com/statebankofcrossplains – all about community!
www.statebankhearsmyvoice.com
www.statebankhearsmyvoice.com
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).
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
www.statebankcharitychampion.com
www.statebankcharitychampion.com
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).
Campaign Details/Results
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.
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.
What have I learned over the last year 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 www.mashable.com and other social media blogs to stay abreast of trends.
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