Leveraging Your Resources: Financial Services Social Media

Getting the most out todays social media is much more than simply jumping on the band wagon

. Catch phrases and trends die quickly. They explode and many people simply follow along not realizing what exactly it is that they are doing. As financial firm, you understand the importance of looking forward and not being a trend follower, but a trendsetter, trailblazing just as the great American ideal. While you will not be the first business using social media, you can be the one that is using it too its fullest.

So what can financial services social media do for you? Well rather than looking at it as separate from other efforts, it would appear that it is best to view it in tangent with other public relations efforts. The objective of those public relations efforts is generally what determines the approaches taken, whether its social media or print.

Usually the end goal includes three things. The first is distributing relevant content and information to those who need it. The second is establishing an effective mode of communication with current and prospective clients. The third and final goal is to create a particular image and brand.

Applying these to financial services social media can be accomplished by tailoring the use of social networks to meet those goals. Some examples of customization include developing a blog, dedicating a response team to questions posted through such mediums as twitter and developing useful forums for clients to talk with upper management by using tools such as web conferences. While each of the may comprise a part of the strategy, they are not isolated, as they work together with each other and other efforts to achieve those broader goals.

So where does this leave you? Well, it means that the first thing you should do is consider what your goals are, both in the short run and in the long run. Do these align with your firms values and objectives? If so, continue on and link together the objectives with those of a public relations effort. How do the two fit together and how do the goals of your financial services social media campaign line up with those company values. Next, devise methods to achieve those targets and appropriate metrics to measure your progress. While this may seem very broad doing this kind of exercise will help you to focus your financial services social media efforts in away that compliments other pr efforts and your firms values.

Hiring a financial services social media firm to help with this process adds yet another level to the aforementioned steps. They will challenge you and help you to refine your objectives. They will also help you to adapt to new trends and make certain that you are taking advantage of all of the resources, which are at your disposal.

by: Kevin Waddel

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