Pub. 4 2014-2015 Issue 3

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S November • December 2014 9 FEATURE ARTICLE “The first step in a successful social media program is putting the pieces into place beforehand. Think through your brand and marketing strategies and determine how social media will fit—today and in the longer term.” LEE THOMAS CSI REGULATORY COMPLIANCE Speak Up on Social Media Best Practices for Success, Whether Seasoned or Beginner N o longer a fad or for younger generations only, social media has captured the at- tention of the masses. That’s why finan - cial institutions need to consider being social, too. After all, even if your institution doesn’t join in, it’s still being discussed on social media, but without having a say—or maybe even a clue. Whether you’re new to social or in need of ideas to reinvigorate your existing presence, the following best practices offer helpful tips for a successful social media program. Planning for Social Media Strategize First, Then Jump: The first step in a successful social media program is putting the pieces into place beforehand. Think through your brand and marketing strategies and determine how social media will fit—today and in the longer term. Decide what you want to achieve with social media, as well as which demographics you wish to reach and which platforms you will use. Many institutions start out with one platform, typically Facebook, to test their plan before expanding. Assign Ownership: Someone must be responsible for the day-to-day activities of your social media program. This person or team needs to be accountable for it and report any issues to the board. Also, before you launch your program, train your employees on it. Make sure they understand how it will work, what role they will play, and what is acceptable in that role. Assume the Best, But Prepare for the Worst: After successfully fulfilling the steps above, your institution’s foray into social media should go smoothly. But what happens if your website goes down right after you launch your institution’s Facebook page? Youmost likelywill be inundated with angry posts and comments. So, proactively develop a crisis communication plan for just such instances, so it can be imple- mented immediately if something goes awry.  Social Media  continued on page 12