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5 Steps to Managing Privacy on Facebook

Posted By Carie Schelfhaudt, McDougal & Duval, Monday, July 11, 2011
Updated: Tuesday, November 19, 2013

The social media revolution exists at the intersection of our personal and professional lives. Being socially immersed in the online world creates challenging boundary issues for workers whose jobs require them to be present in online communities, but hesitate to have their personal lives revealed with coworkers on the Internet. Blurring the lines between our working and personal lives could have negative ramifications if not treated with care. Choreographing a unique dance around the line between your work and personal lives will help to extinguish any concerns as we nudge into this new medium of communication.

Your Facebook friends are likely a carefully compiled mix of friends, family, coworkers and acquaintances. Because of this, the content you generate on Facebook may not be appropriate for all of your friend circles. For instance, you may not want to share photos from your high school reunion with the CEO of your company. If you've hesitated recently about hitting the accept button on certain friend requests, you may want to consider increasing your privacy settings.

Google+ (Google's "answer" to Facebook) has recognized privacy as a huge issue for adults in the working world and has created drag-and-drop friend circles to allow you to only share certain content within each friend circle. This feature allows you to have a diverse range of friends and simultaneously protects you from over-exposing your private life. However, what many consumers don't realize is that you can categorize your friends just as easily on Facebook. Here's how:

  1. Start by taking a good look at your current friends and those who want to be friends with you. Online and offline, we know people in different contexts and share information with them in that context, and sometimes that context alone. Have you not accepted certain friend requests? And for what reason? When you take a good hard look at your friends, you will realize the diverse mix of friends, family, coworkers and acquaintances, yet they all see the same information on your profile. Think about ways to group your friends based on the content that you are wanting or willing to share with them. If you really don't want every single one of your friends to be updated with photos of your anniversary barbeque or you think Aunt Helen will flinch if you post an edgy blog entry, creating friend lists will help you mind the gap between friend circles.
  2. Analyze the type of content you share with your online community. Do you often share pictures or videos that are appropriate for all parties? Start looking at your content from the perspective of your friends; through their eyes. Really try to understand why they friended you in the first place. Not only will your friends appreciate the gesture, but you will have the added benefit of protection from friends that you don't know as well as others.
  3. Start building simple friend lists. Choose friend lists/categories that are easy to remember. Don't get bogged down with too many lists because it will be hard to remember the privacy settings for each list. Two or three lists are usually sufficient. To access your Friend Lists from your Facebook homepage, click on "Friends," then "Manage Friend List." From here you can create a new list and add friends to that list. Once created, Friend Lists will be displayed in the left-hand navigation for adding or deleting friends. By default you will see a list of friends not currently on a list.
  4. To change the permissions for a friend list, click on "Account," then "Privacy Settings." From here you can click "Customize Settings" to see a list of the different content that is available for your friends and networks to see on Facebook. Selecting the "Customize" option from the dropdown menu for each area of sharable content will allow you to manually type in a list of friends that you would like to hide from seeing the respective content.
  5. Privacy settings change. Many times, they change with little to no notification. Be smart about the content you put on the web and be sure to check your work. Periodically view your page as others would to make sure that the security settings are still in place.

Continue the conversation online feel free to email me directly atcschelfhaudt@mcdougallduval.comwith any questions or comments.

Tags:  facebook  privacy  social media 

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Identifying an over-looked and vital social media component

Posted By Adam Cupples Digital Marketing Officer, HarborOne Credit Union, Monday, July 4, 2011
Updated: Tuesday, November 19, 2013

Move over "Location, Location," here comes CONTENT, CONTENT, CONTENT!

On June 24th, I attended the Social E conference held by Banker and Tradesman at the Hyatt Regency Newport in Newport, RI. I was invited to sit on a panel full of smart, talented, and informative men and women, oh, and me. There were some great takeaways from the sessions, but one thing was lacking... don't get me wrong, everyone was great, especially the "Socialist Bankers" panel, (ahem), and I think everyone left well-informed and pleased.

Sessions included some web basics: Blogging, Facebooking, Tweeting and broader challenges facing some financial institutions: merging traditional media with digital, inbound marketing and more. Still, I couldn't help noticing that something was being overlooked.

It was encouraging to hear that many financial institutions have active Social Media Policies in place. Teams are creating and thinking about social networking sites, blogging, and the effects on their Financial Institution. They also shared concerns and fears of tracking the return on investment, time management, and the dreaded, and sometimes unavoidable, negative comment.

The one, most important word for social media discussions, the one little word that I didn't hear often enough was content. Content should appear in every other sentence and should be echoing in your heads: content, CONTENT,
C O N T E N T!

Take a step back and think, why do you "Like", "Follow", subscribe to a blog or e-newsletter? What do you think when you find out quickly that they've (companies) set up accounts because someone told them to, without realizing how to use it well? Posts shouldn't be obligatory, but engaging. I think with social media/digital marketing it's not so much about getting your name or logo in someone's news feed as it is really offering something of interest.

If you provide content that is engaging, educational, etc... the people, comments, interaction, and a magical relationship will follow. Okay, maybe not magical, but you get my point. Not in the magical,Field of Dreams way., "If you post it, they will come" but in a realistic way. Find out and research your audience to see what engages them and what they want to hear. One piece of advice is to develop what I like to call a "Conversation Calendar". Developing a calendar of posts, articles etc. will keep you on track, without worrying about coming into the office everyday, logging on to your Facebook account and saying to yourself "What will I talk about today?" Having the calendar will keep you focused on your Financial Institution's goal of why you launched into the Digital Marketing era.

Tags:  content  social media 

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Behavior-based Customer Value: The New Paradigm

Posted By Patricia F. Donohue, Principal, The Marketing Mix, Inc., Tuesday, March 1, 2011
Updated: Tuesday, November 19, 2013

Because of the economic downturn and new regulations, it's never been more difficult for banks and credit unions to grow revenue streams. It's even more difficult without a perspective that provides a clear understanding of account and client value.

Behavior-based value is a vital component in the sales and marketing planning process in this brave new world. The behavior-based approach reflects how individual clients actually use the accounts and services they own with your organization...the balances they keep...the interest they earn...the fees they pay...their channel-specific transactions. This methodology achieves results that are straightforward, provable and actionable. And with these results you can quickly and easily determine both what a client's value is as well as why accounts and customers are profitable or unprofitable.

Focusing solely on more traditional metrics like balances or cross-sell ratio often obscures key conclusions – impacting the success of your revenue improvement plans. For example, you may discover:

  • Households with substantial deposits can be a significant drain on your bottom line
  • Your least profitable clients often have as many services as your most profitable
  • You will have two distinctly different types of high value clients – and the strategies you employ for each group should be drastically different

The ultimate objective of a well-designed model is to provide clear direction on how you can enhance your bottom line. You'll uncover winning strategies for priority client clusters, including:

  • Retention: Focus on maintaining clients who provide 80, 90, or 100% of your company's revenue
  • Cross-Sell: Pinpoint profit-based initiatives to strengthen ROI
  • Product/Pricing: Explore cost/benefit trade-offs of various approaches
  • Prospecting: Target efforts on demographic profiles producing superior results
  • Network Evaluation: Observe the contributions of clients aligned with various business units to help direct service and staffing

Everyone is working with more limited resources these days. By adding a comprehensive value perspective to your strategic planning process you'll compete more effectively by knowing where to focus those resources to achieve the strongest payback.

Patricia F. Donahue will be speaking on this topic at our May conference on Thursday, May 12 at 4 p.m.

Tags:  consumer behavior  relationship  sales  segmentation 

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