How to Drive Engagement – Facebook for Financial Services

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This series will provide tips on how financial services organizations, like banks and credit unions, can reach their target audience and start useful conversations on social media. First up, Facebook. With 1 billion users worldwide, Facebook is the 800 pound gorilla in social media; well worth having in your financial marketing plan. In this post, find out how to create compelling material that is both valuable and sharable to your audience.


How can banks and credit unions create engagement on Facebook? First, define “engagement.” Is it a like, a share, or a comment? Or is it someone taking the next step past a Facebook post, becoming a lead, and ultimately a client or customer? Second, create a content marketing strategy.  A recent study shows that bank customers are bored by their banks content on social media. So the challenge for banks isn’t just to engage customers, but to be compelling enough to keep their attention and provide some value to the banks bottom line.

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Update: Gremln Accounts Not Affected By Heartbleed

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On Monday, April 7, a new vulnerability in OpenSSL version 1.0.1 called “Heartbleed” was announced.  A security advisory was issued that detailed this serious vulnerability in the encryption software in use by a large percentage of the internet. Nicknamed “Heartbleed”, it potentially allows attackers to retrieve information from encrypted SSL endpoints. Learn More.

We have secured Gremln’s authentication infrastructure against the Heartbleed Bug. Gremln uses a different form of the SSL security software than is at the root of the Heartbleed bug and was not affected.  Though we do not believe any Gremln accounts were compromised, we are suggesting our customers be proactive by changing their passwords.  This is especially the case if your password and username you use on Gremln is the same as any other site that may have been compromised.  This can be accomplished in the Account Settings section of your Gremln account.

Sincerely,
The Gremln Team

Banks, Don’t Bore Your Customers: 3 Ways To Succeed At Social

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Banks and financial institutions face a number of challenges when it comes to digital marketing, particularly with social media. Compliance and privacy issues pose unique challenges for financial marketers who recognize the benefits of having an online presence, but are beholden to guidance from the FFIEC, FINRA, and SEC. Still, some banks and credit unions are successfully leveraging social media to further their brands. Susquehanna Bank is a Lancaster, Pennsylvania-based bank operating over 260 branches in four states including Pennsylvania, Maryland, New Jersey, and West Virginia. The bank engages its more than 15,000 Facebook followers with weekly features such as “Where is it Wednesday?” and “Trivia Tuesday” — as well as social responsibility campaigns dedicated to helping those in need. (more…)

Social Media Analytics: What, How, and When You Should Be Measuring

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Whether you are just getting started with your social media presence or you have an active and engaging fan base flourishing on various networks, paying close attention to your social media analytics can help you better understand your audience, increase your engagement, and make more informed decisions on your customer outreach and digital marketing efforts.  (more…)

Social Media Archiving for Regulated & Non-Regulated Industries

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Let’s talk about social media communication and record retention. That’s right — archiving. Riveting stuff, we know. But really — keeping strong archives could be the difference between happiness, sunshine, and lollipops or facing fines, lawsuits, & PR nightmares. Yikes.

If you’re in a regulated industry like finance, healthcare, or pharmaceuticals – archiving your social media activities is most likely mandatory. Even if it’s not a legal requirement, it’s certainly considered a good rule of thumb. (more…)

Healthcare: 3 Tips To Safely Enter The Digital Landscape

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Certain industries such as healthcare have faced challenges implementing social media due to privacy compliance issues. The HIPAA Security Rule, on the books since 2005, establishes standards of protection for personal electronic health information that is created, received, used, or maintained by any health organization. This includes messaging transmitted via social media – which means it’s even more important for companies to ensure they acquire the right tools, create a social media policy, and train their team to be well-versed in social media best practices. Because what you might think is a minor piece of information – such as hinting at a patient’s identity or personal health information (PHI) — can land hospitals and facilities in hot water. (more…)

Facebook News Feed Changes & What It Means for You

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In early December, just before the holiday season went into full effect, Facebook announced yet another change to the News Feed algorithm.

According to Facebook’s blog, survey results show that people are increasingly interested in reading articles and sourcing news from Facebook — especially from mobile devices. Facebook has been sending traffic to news sources more and more over the past year, nearly tripling the amount of visitors sent from the social network to various news sources. As a result, the social network is putting more weight on high quality news stories and less on viral, meme-based posts. (more…)

Updated Social Media Guidance from the FFIEC: Is Your Bank Still Compliant?

December 2013 – UPDATE:  

Nearly one year after putting out a proposed guidance on social media use for financial institutions, the FFIEC issued “Social Media: Consumer Compliance Risk Management Guidance.” This guidance has been adopted by FFIEC member organizations, including the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve (Board), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), the Consumer Financial Protection Bureau (CFPB) (collectively, the Agencies), and the State Liaison Committee (SLC).

These regulatory bodies overseeing financial institutions recognize the importance social media plays in marketing, customer service, and audience engagement – but stress the importance of banks, credit unions, and saving institutions to remain compliant while participating. (more…)