Comments on: 25 Things More Important Than Online Social Media

By: 5 Ways Financial Institutions Can Use Social Media* | The Financial Brand: Marketing Insights for Banks & Credit Unions

Wed, 01 Dec 2010 14:52:49 +0000

[...] updates about Saturday hours and tweets promoting International Credit Union Day); they simply have more important things they could be doing. But that is not to say “social media is useless.” There are certainly some [...]

By: Why Social Media Is a Waste of Time for Most Banks & Credit Unions : The Financial Brand: Marketing Insights for Banks & Credit Unions

Wed, 03 Nov 2010 14:27:32 +0000

[...] to dabble, as long as they acknowledge the opportunity costs. In all likelihood, there are probably more important things you could be doing than social media — things with more immediate relevance to your organization’s brand and/or bottom line. [...]

By: Was für Banken wichtig ist « Finance 2.0

Was für Banken wichtig ist « Finance 2.0 — Sun, 20 Jun 2010 14:30:35 +0000

[...] http://thefinancialbrand.com/11549/25-priorities-over-social-media/ [...]

By: Christian (of a Texas credit union)

Christian (of a Texas credit union) — Tue, 18 May 2010 14:16:17 +0000

Kudos!!!

I’m an IT Director and besides the security risk that Social Media presents in the work place, I’ve seen it as nothing more than hype.

I do admit that Social Media does have it’s place in some industries i.e. Dillard’s, K-Mart, grocery store chains where they have something relevant to communicate at least once a week such as sale items, etc. However, a majority of Credit Unions have a “special” once a month at best and many “specials” are seasonal. Who’s going to follow you on Face Book or Twitter if you’ve only got something to say once a month or so?

I believe that because many credit unions can’t compete with technology and such to the same degree that Bank of America does and the likes that when something is mainstream and it doesn’t have a large price tag, credit unions like to jump on board just because they can and it doesn’t help when you have your state credit union leagues add to the hype. Honestly, it just shows me how little they know and understand the technology. Especially their total disregard concerning the security risk involved.

Thanks for a great article!

By: Why social media matters in finance | Digital Benjamins

Why social media matters in finance | Digital Benjamins — Sun, 16 May 2010 00:45:34 +0000

[...] recently came across an article on The Financial Brand that touched on 25 things more important than online social media. If you get a moment, go take a look at leave your feedback. My main argument against the post is [...]

By: Adam Weight

Adam Weight — Wed, 12 May 2010 22:40:54 +0000

This is a fantastic post! From my perspective, social media useage only makes real sense when these other pieces are working well. Social media marketing is not “the answer”, it’s an outgrowth of service or a piece of the general strategy, as noted by Bryan and Kasey above.

FI’s (perhaps more appropriately, FI management) needs to recognize that you can’t force human social interaction on a device if there is no meaningful human interaction occuring in person first.

By: Bryan Clagett

Bryan Clagett — Wed, 05 May 2010 23:16:36 +0000

I believe FIs need to figure out better ways to engage their customers, across all relevant channels. So I hope your audience considers this valid list of 25. But let’s start engaging customers based on market need, with understanding that each FI has unique needs based on a myriad of strategic factors.

Banking remains too much of a commodity. Let’s change that at an emotional level and genuinely connect with those we serve.

PS I can personally see a social media (SM) strategy supporting all 25 of the above. But SM plays a supporting role.

By: Jason

Jason — Wed, 05 May 2010 21:34:19 +0000

Great article and points out there are many things to be considered as a part of ‘new’ marketing, not just bright shiny objects in social media.

By: CU Water Cooler » Blog Archive » CU Water Cooler 5/4

CU Water Cooler » Blog Archive » CU Water Cooler 5/4 — Tue, 04 May 2010 13:35:48 +0000

[...] • 25 Things more important than online social media [...]

By: Kasey Skala

Kasey Skala — Tue, 04 May 2010 01:38:07 +0000

Here’s the thing…true social media success integrates all of these. I don’t see this as a “25 things before social media” or “25 things more important than social media”. Instead, it should read “25 things social media so include.”

However, I highly disagree that remote deposits, iPhone app or open new branches should be thought of before social media. I would argue 750 people who are actively engaged with your brand are more valuable than 750 people downloading your iPhone app. Additionally, remote deposits is still a ways away from adoption. 500 million people are on Facebook, I’d say that’s a better channel to focus on.

Open new branches? If remote deposits, mobile bank and iPhone apps are important, what does that say about branch traffic? Goes against each other there.

Here’s the thing. 90% of financial institutions don’t know how to use social properly. I would argue day and night that an effective social strategy is much better than a majority of the items listed here,

By: Janelle

Janelle — Mon, 03 May 2010 15:33:09 +0000

I like this article. It makes the businessperson think about their brand more critically and develop a plan to best reach the target audience. Great read!

By: Kent Dicken

Kent Dicken — Mon, 03 May 2010 12:06:06 +0000

A well-planned strategy beats trendy “me-too” marketing every time. Terrific checklist for marketers to use in strategic planning, and in discussions with their management team. Every point could be a lengthy article.

By: News Update – Best of the Day

News Update – Best of the Day — Mon, 03 May 2010 07:37:32 +0000

[...] If you think about the alignment of social media and your brand, there should be more to consider: 25 things for example, thinks The Financial Brand. [...]