As my grandmother told me often, we have two ears and one mouth, so by design we should listen more than we talk. I used twitter for a while without ever tweeting anything. I listened to what my competitors had to say and what people were saying about me. Then I slowly started tweeting. The important thing is to decide how you are going to use twitter.
When I was at Banker at Chase Bank , they were pretty early adopters of this type of social media. I believe they used it primarily to monitor their brand and then started using it as a more swift customer service tool. They say that every complaint is a possible opportunity, and Twitter allows you to exploit this. They started seeing better customer service scores and while bonuses were always based solely on checking accounts open (campaign), they started realize Twitter played a part push branch bonuses more toward service. Every single bank I talk to says that it is their service that makes them stand apart, yet so few are using the ONE tool that can exponentially make this a reality.
Still don’t believe me? Well, at Chase, I tested to see if they were paying attention (which previously they were not). I made a facetious comment about getting moving walkways into branches so it would force the confused customer into more efficiently ‘get in and get out’ strategy. I was later written up by my boss for inappropriate use of technology because this made it all the way up to Jamie Dimon, the Chase CEO. It was like watching a blooper reel as my boss sat me down to “write me up”; he couldn’t stop laughing. He was also in disbelief. I just sat back, smiled and exclaimed, “Wow, they really ARE paying attention now!”
So…if this type of medium can get the attention of the CEO of one of the biggest companies in the world, how do you think it will work on your current and potential customers. Give it some thought and stop being a twit and start with reading a tweet.
Adopting a mascot at your financial institution could significantly help engagement with your customers, while making your branding efforts easier. One financial institution, Middleburg Bank, has not necessarily out foxed anyone, but rather out focused other banks in their marketing approach around their “spokesfox”, Mosby.
As Mosby says on Middleburg Bank’s Website: ” I have been associated with the Bank since 1924, when the first office of Middleburg Bank opened across from the Red Fox Inn. ‘Why is a fox associated with Middleburg Bank?’ you might ask. Well, for generations, we foxes have long been a part of the culture of Middleburg and the surrounding areas of Virginia. As the fox is an intelligent, resourceful animal (if I do say so myself), I was chosen to represent the spirit of the bank and I’ve been an integral part of the Bank’s identity for many years. A couple of years ago, the Bank wisely made the decision to feature me as their “spokesfox” and since that time, my role within the Bank has continued to grow. In fact, last month Gary let me take over the Bank’s Facebook page and interact there with our many clients and fans.”
I’m on hundreds of bank websites/social media pages each week and Middleburg Bank really stands out, thanks to Mosby. In talking to Robert Miller, Chief Marketing Officer at Middleburg Bank, he says that without Mosby, their marketing would look very different “with messages built around products, rates and commitment to the community. While we still touch on some of those things in our
current marketing, using Mosby has allowed us to develop a distinctive identity, voice and personality. We believe that over the long haul, this approach will drive the brand’s likeability and help separate us from the pack.”
I can identify with this, stemming from a couple of my own experiences. Universities use mascot’s for the same purpose as banks; to symbolize the identity of the group, school, city or community for which it represents. I was the Cougar mascot (Butch T. Cougar) of Washington State University. I was surprised about how much time I had to put in to understand the personality of Washington State’s beloved mascot. The Cougar mascot before me was Blitz the Seahawk for the Seattle Seahawks and he helped train me. This may sound silly, but there were three of us all playing the role of Butch T. Cougar and we all needed to have the same walk, mannerisms etc. They took this serious enough that I was not allowed to tell anyone who I was. It was to remain a secret until right before I graduated.
Yet another example comes from when I did a couple of appearances as Chase the Dog, while working for Chase Bank. Now, I was there during the “fun” occupy movement and let’s just say Chase wasn’t seen as the best bank in the universe, yet there was more engagement happening in our branch around a mascot that couldn’t talk then we had prior. People could identify with the personality of a dog; loyal, happy, loveable and eager to meet new people.
So what’s the point? Well, so many financial institutions have enough people working on marketing, that it’s hard to find one voice or one personality. Having one voice and personality is so important and nobody knows what that voice and personality looks and sounds like better than the bank. There is an Irish Proverb that says, “The fox never found a better messenger than himself.” This is so important because if someone else does all the work, you may have a very different voice/personality and this could compromise your brand. When asked by folks why I love Washington State so much, all I have to do is describe the personality of the mascot I worked so hard to become; Courageous no matter what, community focused, VERY spirited, kind, and willing to waive the flag anytime, anywhere. How do you easily describe your bank’s voice/personality without your financial institution just adding to all the white noise? I know how Middleburg Bank does…