BID® Daily Newsletter
Apr 24, 2020

BID® Daily Newsletter

Apr 24, 2020

Social Media Tips During COVID-19

Summary: Social media may not be top of mind right now, but, it is a useful communication channel for many of your business customers. We have three effective ways to use social media during COVID-19.

Did you know that eggplants are considered berries? So are avocados, tomatoes, chili peppers, and bananas. While you consider a fruit salad including eggplant and chili peppers, we thought we would discuss social media use during COVID-19.
You may not think now is the time to work on your social media skills. However, now may be the ideal time. We have found three ways that community financial institutions can use social media through the COVID-19 pandemic.
Provide customer support. Using social media as another way to provide customer assistance is important as people look for help. Make sure to include accurate information about COVID-19 and what your institution is doing to mitigate the risks, so they can easily find the information and reassurance they need. You can also remind them that you still have ATMs, online banking, mobile banking, and remote deposit capture for checks to use while waiting out the crisis.
Social media is also a great channel to communicate regarding stimulus lending opportunities and other hardship options for customers. Giving your business customers the information they need when they need it, is more critical than ever. If your institution is participating in the federal Paycheck Protection Program, you can explain how the program works and how your institution can help them through the process. One community financial institution in the Southeast touts how their expertise in being a top Preferred SBA lender can expedite PPP loan approvals for their small business customers.
Connect with your community. You can more easily show all that you are doing to help your community through social media, as it is more visual. That Southeast community financial institution on their Facebook page posted a photo of their loan processing staff (taken prior to the pandemic), giving them a "special shout out" because they processed 5x their normal loan volume, "working day and night to ensure our customers receive needed funding quickly." While there aren't community events these days, you can still show how you're helping people in need and provide special recognition to those on the front lines in your neighborhoods.
Provide greater opportunities. Through social media, you can not only reach your customers but also new customers. As many people are looking for financial information and additional support, you can show your expertise and compassion through your social media posts. While this may or may not result in new customers, it will definitely strengthen your brand within the community and provide you with possible opportunities you may not have seen.
Since it goes both ways, you can also follow the local better business bureau or small business organization too to offer your services, if needed. But, make sure you monitor your social media accounts regularly for timely responses.
We hope these tips help you stay connected to your customers. If you are looking for more information, feel free to revisit our article, Extending Your Social Media Through Employees.
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