5 Steps to Social Media Success for Financial Services Marketers

Financial services firms are starting to have a closer relationship with social media, despite the compliance requirements such firms face when talking to consumers.

The best firms are developing social media plans and getting their advisors’ voices out there, says Christie Campbell, marketing director at Austin, Texas-based marketing software provider Socialware. The vendor lists its clients American Portfolios Financial Services, Cambridge Investment Research Inc. and Guardian Life Insurance Company of America among the institutions doing so. She suggests:

“With executive support and while mapping social business programs to overall business objectives, firms should address:

  • Policy—Determining social networking policies before implementing technologies will help overcome compliance concerns;
  • Procedures—Assign the teams, roles and usage recommendations;
  • Training—Ensure employees are confident and knowledgeable to start using social networks for business results;
  • Activation—Provide the guidance, structure, education and ongoing best practices; and
  • Optimization—Measure social business efforts, update social content and keep an open dialogue internally to maximize efforts.”

Heather Fletcher is senior content editor with Target Marketing.

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