Social media for financial services – part 3

The most important part of a social media strategy is to understand your social media goals and objectives and how they tie into your overall company sales and marketing strategy.

Your digital profile is not just about your website and email any more. You need to think about your presence on the key social sites and create content that is easy to share, discuss and comment on.

Core to this is understanding the sites and tools your customers use. In the UK, professional and business use of Facebook is low. However, LinkedIn has an active professional intermediary community, as does Twitter. There are also key industry verticals to be aware of and monitor, like Steve Bee’s JargonFreePensions, FT Adviser’s community, Panacea and IFA Life.

Before you even start to engage, there are a few things to think about; is your senior management team supportive? Do you have social media guidelines for your employees that cover acceptable usage? Are your IT security and risk people on board? Who can use social media and manage responses? And do you have appropriate compliance and response handling processes in place.

Once you’ve answered all these, you need a robust social media process. This can be split into 3 parts.

1) Listen

You need to track comments and conversations about your organisation and respond when necessary. How will you do this, what tools will you use and how will you use this feedback?

2) Engage

How will you encourage feedback and comment? Remember, this is a social conversation so you need to be open about comments & responses.

3) Share

How will you share content, thoughts and opinions? What sites and networks do your customers use and what groups are they part of? Are your web site and email platforms integrated with social media?