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First Federal on Social Media, Part Deux

March 27, 2009 2 comments

First Federal has now added their social media links to their Contact Us Page.  So far, the Twitter account has mostly been used to announce workshops that the bank has sponsored.

First Federal Contact Us

First Federal Contact Us

Here are the links to their sites:

Twitter: @firstfederal

Facebook: First Federal FB

YouTube: First Federal Online

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Time To Get Social

Well, First Federal is starting to tip its toe into the pool of social media. After securing our Twitter account last year, I began having occasional lunch meetings with our webmaster and our contact in Marketing.  We’ve been discussing some strategies and have looked at what other banks and credit unions are doing.

Needless to say, with everything happening in our industry, tools that can provide free marketing are starting to look pretty good.  Also, permission marketing seems to be a better way to connect with our customers and market.  It doesn’t hurt that one of our local competitors is also embracing the web in their business strategy.

With that said, I’d like to invite you all to follow us on the following sites:

Twitter: @firstfederal

Facebook: First Federal FB

YouTube: First Federal Online

Also, you can follow me on Twitter at @gpasley.

Your Firewall Isn’t The Problem

March 6, 2008 2 comments

Chris Skinner over at Finextra recently wrote an article I’m sorry, you are firewalled out. In the article, he told a story of how the CEO of a major, strategically led, global company was surprised that Google bought YouTube for $1.65 billion. He was surprised because he’d never heard of the company. He then conferred with his direct reports and found that none of them had heard of YouTube either. The CEO then attempted to go to YouTube’s website and was stopped by the company’s firewall.

The conclusion was, management is effectively blocking themselves through policies they dictate for the company. Because websites such as YouTube, FaceBook, LinkedIn and MySpace are blocked, management doesn’t know the value they could bring to the company.

Hogwash. Firewalls and policies aren’t keeping management in the dark. Lack of inquisitiveness and communication is. In the example of the CEO, the direct reports must not have read any trade magazines or websites in the past couple of years. YouTube, FaceBook, LinkedIn and MySpace have constantly been mentioned on sites such as Infoworld, Computerworld and CIO. I’m willing to bet there were plenty of employees at that company that knew about YouTube. They just weren’t asked because they’re lower level employees.

And that is the crux of the problem. Innovation and strategy doesn’t only come from the top and filter down the organization chart. Anyone in the organization can have an idea. Anyone could also be keeping up with technology. Sometimes, it’s as simple as asking the employees around you.

Got YouTube?

January 9, 2008 1 comment

Over the last year or so, there has been a lot of articles about FIs embracing the new “Web 2.0” phenomenon. Should you start blogging? Create a FaceBook widget? Open up access to LinkedIn and MySpace? Build a branch in Second Life?

I have a suggestion for you. Why not just dip your toe and post all of those expensive TV commercials onto YouTube? I know there has been discussion at our bank about putting our commercials there. Here is a free outlet that you can take advantage of. Also, if your commercial is popular, you could bring more exposure to your FI.

Just to satisfy my curiosity, I went to YouTube and did a search on bank commercial and credit union commercial. What I found was, in the top 20 results, two credit unions and one ad agency had posted their commercials. E-Trade was the only “bank” in the results of that top 20. All the other commercials were posted by other users.

This is a very easy opportunity for everyone. Do you know of a better way to get your brand out there with material that you’ve already paid for? Besides, the content will stay out on YouTube indefinitely, unlike the typical commercial run.

Categories: Marketing, Web 2.0, YouTube