According to recent research from Unica, via the eMarketer website, social marketing has become a "must have" in organizations. That said, the integration of these sites varies significantly by tactic. Many of the tools continue to be used for discrete events not directly connected to the overall marketing campaigns. We've seen the same challenge in our institution. How do these statistics compare to your experience with social media marketing in your organization? I'd love to hear your thoughts.
As noted in a recent Socialnomics blog post, Hitwise has documented that Facebook now exceeds Google in weekly market share. Traffic increased 185% from the same time last year versus a 9% increase for Google.
So what, you ask? Well, for those bankers who have chosen to sit on the sideline and avoid the social media, the "Tipping Point"is here. While you depend on the traditional Internet marketing efforts using Google search terms and SEO strategies, your customers (and prospects) are flocking to social media sites like Facebook. It may be time to rethink your strategy. Many of your competitors already have.
As everyone in the financial services industry, and many consumers are now aware, Bank of America announced they are ending overdraft fees on Debit Card transactions beginning this summer. You know it's a big deal when the story makes it to the Today Show. This is their answer to the recent Regulation E changes enacted by the Federal Reserve that take place later this year.
On the surface, this appears to be a consumer friendly solution from a bank that has been battered in the public relations arena. They've taken a lot of heat (often unfairly) for the bank bailout and the mortgage crisis. They really need something to repair their image.
Our bank, on the other hand, is taking a different approach. We see this as an opportunity to both educate consumers and allow them to make the decision, not us. For more information, take a look at this post on our bank's web site. As always, I'd love to hear your thoughts.
As most people know, January through April are the primary selling months for Girl Scout Cookies. Girl Scouts all around the country go door to door selling their cookies, the major fundraiser for theses local groups since 1917. The selling process has remained pretty much the same since it's inception. Until now.
Last night, on the National Public Radio (NPR) program "All Things Considered", there was a story about a troop outside of San Francisco that is using online appeals through various channels, including social media outlets like Facebook. It is fantastic to see these young entrepreneurs using today's technology to market their products, in addition to the more traditional sales approach. There is a lesson to be learned for those of you who aren't sure about the value of social media. These Girl Scouts and their leadership certainly get it.