“Social media is a risky place to be.” ~ Claudia Sandino, VP of Social for Sterling Financial.
Which is one of the main reasons many financial institutions have such a difficult time using social networking platforms to their fullest capabilities. Despite the possibilities of creating connections, promoting financial wellness, and generating brand awareness, the prospect of security and compliance issues can be daunting.
One of the scariest things about Facebook, Instagram, LinkedIn, and other platforms is the possibility of negative sentiment or social faux pas. We’ve all seen a single social post turn into a PR nightmare. Keeping tabs on who is saying what and where becomes essential to putting out fires and staying the course.
Fortunately, there are a wealth of Social Media Monitoring tools available to help your institution keep tabs on your brand and help cool compliance questions. Here is a quick list of just a few.
- From the makers of SEO PowerSuite and Buzzbundle, Awario boasts the ability to crawl over 13 billion web pages daily as well as APIs. The system will enable you to track brand related and industry keywords worldwide and even in foreign languages. Its reporting system is set up to help track sentiment, identify influencers, and analyze progress over time. In addition to general tracking, Awario provides an “alert comparison” option to help users adjust their keywords and alert settings to optimize the platform.
- Sprinklr’s system listens across a variety of channels to help you address and engage directly as your brand and keywords are discussed. Rather than a strictly monitoring tool, Sprinklr consolidates publishing, reporting, and listening into a single platform to allow users to see and respond to mentions within the same software.
- Unlike many other monitoring platforms, Synthesio offers metadata regarding content, author, and tone for posts – complete with interactive filters. The system pulls information from a wide range of social networks in 195 countries in a multitude of languages. Another exciting feature is the interaction and engagement data, which can help determine how long posts and specific content resonate.
- Brandwatch offers a customizable query builder which allows your institution to track your channels, hashtags, specific phrases, and keywords. It pulls data from a variety of sources including social media networks, forums, and blogs. Like many other listening platforms, Brandwatch includes insights into sentiment, emotions, and demographics.
- PR and media company Cision also offers a Social Media Monitoring option called Cision® Communications Cloud®. The system “listens” to social media networks, daily news stories, broadcast, and social channels, as well as print publications, news websites, blogs, and forums. The platform allows you to track your brand and keywords across channels and provides reporting to help analyze impact.
With approximately 77% or more of the US adult population utilizing smartphones and over 68% regular Facebook users, there are few places with more opportunity for outreach and growth. And let’s be honest, would YOU want to bank with an institution you couldn’t reach online? Being on social media is, indeed, risky. However, with the implementation of a proper monitoring tool and a well-thought social plan, the danger is manageable…and, arguably, well worth it.