Planning and Strategy: Objectives for Financial Institutions Using Facebook Marketing

July 25, 2011: Marcus Anderson, Interactive Marketing Strategist

Social media platforms don’t sleep at all, ever! They are literally open for business 24/7/365. Many Credit Unions and Banks on Facebook have already heard the wake up call and have taken the first sips of morning coffee with interactive marketing by establishing a Facebook page. Unfortunately, without considering a complete marketing plan or strategy for Facebook presence, many pages are just sitting at the breakfast table waiting to see where the day will take them next.

Facebook is an eye-opening, logical first choice to establish an inaugural presence in social media marketing. With more than 3 million Facebook Fan Pages and 1.5 Million Local Businesses using the platform, it's easy to see why marketers should consider adding a page as a marketing tool.

As I mentioned, many credit union and bank pages are launched without realizing the full capabilities and benefits of a social media platform. This is where Priority Integrated Marketing can help. With pages in this condition, a majority of our Facebook questions center around establishing a viable, active presence on this platform.

Credit unions and banks who are thinking about using a Facebook Page for marketing or have just started one, must take the necessary first steps. Developing a plan and strategy are essential items to address for social media marketing. This includes a deep dive evaluation of the familiar objectives for their current marketing efforts.

The most common credit union business objectives for Facebook that might fit within your current marketing strategy include:

  • Building meaningful long-term relationships with members.
  • Making customers feel that their needs are understood.
  • Establish trust with members, delivering exclusive solutions for their needs.
  • Offer “unique opportunities” as opposed to product promotions.
  • Communicate and earn the right to ask for more business with new programs.
  • Foster customer loyalty with exceptional service.
  • Extend reach within regional footprint, drive new business contacts.

Before deploying these objectives as strategies, it is necessary to establish plans and a policy for your Facebook Page, including

  • Administrators - How many internal contacts will be responsible for posting, monitoring and maintaining the page?
  • Users - What are the expectations and posting guidelines for followers of the page?
  • Engagement and Response - What tactics will be used for handling comments, questions, security issues with users?
  • Infrastructure - What types of content needs to be featured in the sections (tabs) and wall posts?
  • Design - What brand elements and features need to be highlighted in the infrastructure of the page?

It requires a significant commitment of time to prepare and align these internal roles, processes and policies, especially when they involve re-working existing marketing plans to include Facebook objectives. We provide our clients with detailed training and examples of successful Facebook plans.

Remember social media, just like the Web, doesn’t sleep. Hopefully some of our key findings can help you open your eyes to the strategies, possibilities, benefits and results for using interactive marketing.

Read my next post in the series: Creating a Facebook Page Policy: Statements of Usage, Rules for Engagement Disclaimers.

This blog post was originally published on the Priority Blog at Priority Integrated Marketing is now BlueSpire Strategic Marketing.

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