2024 Journal of Community Bank Case Studies

2024 COMMUNITY BANK CASE STUDY COMPETITION

Uses for Social Media in the Communication Plan

Even though FCCB has maintained a ratio consistently

In collaboration with SASSO, b1Bank creates social media posts schedule to communicate with its customers and utilizes various metrics and key performance indicators to track engagement on their platforms. SASSO and b1Bank analyzes engagement data such as likes, shares and comments, eventually sending monthly performance reports to b1Bank’s marketing team. The reports include detailed analytics comparing their engagement numbers to industry standards. Besides posting and seeking direct engagement with its customers, b1Bank also utilizes digital advertising on social media to increase traffic to its website. By integrating links in their digital ads that lead directly to specific product pages or promotional content, b1Bank effectively directs possible customers through the purchasing funnel. Albrecht points out that this marketing strategy aims to create a seamless transition from customer awareness, to consideration, and finally to transaction. Once users land on their website, b1Bank tracks these interactions to gauge the effectiveness of their campaigns and refine their marketing strategies accordingly. Tracking effective interactions allows the bank to focus on items that boost brand visibility and engagement as well as increase customer acquisition and retention. Additionally, b1Bank’s social media strategy involves having a well-known figure serve as the bank’s ambassador–Drew Brees, a successful entrepreneur, owner of multiple small-businesses, and formerly Super-bowl

higher than that of its peers, the bank is still within optimal ranges in most years.

worsen, contributing to a massive withdrawal of $42 billion from the bank. Unlike SVB, b1Bank maintains a timely and proactive communication plan on social media, especially during times of crisis. To control the narrative and counteract misinformation, b1Bank aims to respond quickly during the first hour–the “golden hour” of crisis communication–because “social media is a two-way communication. And, if you are not active, somebody is writing that narrative for you” (Albrecht et al, personal communication, March 21, 2024). To ensure effective oversight, b1Bank’s marketing team collaborates closely with its marketing agency SASSO to actively monitor and manage their social media presence. They leverage technology such as the Notified app, which provides immediate notifications of social media activity, and address issues immediately to maintain trust with their customers and control over the information surrounding their brand.

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