I think, similar to Facebook (and the web experience) LinkedIn is all about engaging content with personalization and linkage to application processes. As I mentioned in a recent Bank Marketing Strategy post and will again shortly, I think this is where short form videos with links can be powerful.

That said, LinkedIn is an unneeded distraction unless managed correctly (as you said). I believe it’s about prioritization. If your web property is weak, if you don’t have a simple online account opening/application process or don’t have a strong digital marketing strategy (including retargeting), don’t extend into another social channel and do so poorly.

Presence is no longer enough.

I think is needs to be re-iterated that the power of a thank you call/email is huge.

Good point! ….and thanks for the comment. Based on your many years of experience guiding branches, do you think pro-active calls result in additional product suggestions, and hence longer lasting customer relationships?

Great recommendation on having tellers and CSR’s pro-actively call and suggest more appropriate products for their customers. We have found that branch staff have significant down times during the work day due to reduced branch transactions and the ebb and flow of branch traffic. This is a sales activity but it doesn’t bear the stigma of used car sales.

~ Jeff

You outed my Sox fandom publicly? How dare you! Though I’d expect nothing less from a Yankees fan!

There are several banks that are doing a great job of using SM within the small business sub-community and it’s going to payoff for sure! Amex Open Forum is a great (although hard to repeat due to resources) example of the ability a FI has to create an engaging platform for this segment. Key Bank just launched a FB page as part of it’s Key4Women initiative, which has been around for awhile but not will have SM support. US Bank is also doing a great job of engaging this segment with it’s repeated contests for small biz owners and it’s U.S. Bank Connect FB page.

One might say that these are large banks with lots of resources to support this type of community building but it’s easy to empower your branch managers and biz dev officers with useful content to spread out to small biz prospects in their area. I’d also suggest that the bank’s marketing and SM officers engage in a series of educational seminars for the businesses in their markets. Teach them how to use FB, LinkedIn, SquareUp and other SM and tech devices to aid in their business growth.

SM has to be about a bigger mission, a bigger story. Small Biz is the perfect avenue for it and a great way to differentiate.

Sorry for the delayed reply…I’ve been immersed in sorrow due to the 4-10 record.

Most of my clients pursue a small business strategy… the last bastion of bank differentiation. How do you suggest banks use social media to focus on this segment?

Forget about the English teacher stuff. Do readers know you are. A Red Sox fan from Nebraska? I guess everyone has to be something.

Jeff
http://www.jeff-for-banks.blogspot.com