LKCS will help you navigate.
Over 75% of all adults have established at least one social media profile. Over 70% of them use Facebook, and over 71% of Facebook users engage with that site daily.
Compare that to the old marketing standby: the newspaper. Only 23% of Americans say they read a newspaper every day.
People are getting their news, keeping up with friends and family, and following the latest trends in fashion, food, sports, and entertainment through social media. And, at the same time, users are reviewing content and advertising posted by numerous businesses and organizations like yours.
Still, many financial institutions fear social media compliance and risk, losing a way to attract more members while making sure that they are top-of-mind when their members are in the market for a new financial product or service. This is especially important with the millennial generation who are making online sharing in their networks a lifelong habit.
You need to be where the people are. You need to be social.
There are proven ways to manage social media compliance and the risk that comes along with it. Fear should not keep you from utilizing social media as part of your marketing tactics. In fact, the fear of not building and engaging with a loyal online community, and thereby becoming isolated in the marketplace, should be the motivating factor to use social media effectively.
Learn more about developing a social media strategy that is compliant with the FFIEC’s rules and regulations for financial institutions in our upcoming webinar.