A Campaign Can Help Your Financial Brand Reach and Engage Customers, Leads and Your Community
Check out our tips and strategies below to boost the value of your campaigns!
Campaign Types & Rules
Sweepstakes: A price awarded on the basis of chance. The winner is solely picked at random with no other elements of consideration.
Contest: Effort or skill is required to win a prize. A winner is determined by voting or judging criteria.
Methods to Increase Participation
Email promotion: Send out an internal email that gets employees excited for your campaign. Promote ways they can get involved and what they can win.
Social Sharing: Followers can’t join your campaign if they don’t know about it – get the word out and share it on all of your brand’s channels!
Campaign Timeline & Advertising Tips
Length of Campaign: This varies based on the type of campaign, but a good rule of thumb is to have at least a week scheduled for it to run.
Set Promotions Budget: From reaching new audiences to increasing exposure among followers, paid promotions can really improve your campaign results.
Ben Pankonin 0:06
Well, welcome to a social insurance webinar in the last one of 2019. We’re going to be talking about five things to know before running your next campaign. So grab some eggnog, or maybe refill your coffee. And here we go. Should be a fun time today. You know, as we talk about campaigns, many of you have heard my voice before then banking in the CEO and co founder of social insurance, and I am joined today with Courtney Hager. And welcome Courtney.
Courtney Haggart 0:36
Thanks. It’s good to be here for the second time this year. It’s really weird that next month, we’re going to be in a new decade. But I think that this is a really great webinar to end 2019 with and start budget planning for campaigns.
Ben Pankonin 0:49
Well, exactly. And you know, when we talked a couple weeks ago, you said, Well, this is this is actually the conversation that I have every day, and so it made me a little Bit more confident as we’re thinking about putting together a webinar that, you know, we get to talk about this. And these are the conversations that you’re having with banks every day that are running campaigns. So that’s kind of a big part of your responsibility here at social insurance is kind of helping people manage campaigns and work through a lot of the details. And so you’ve been with us for two years now. Right?
Courtney Haggart 1:21
Yep. Two years. All
Ben Pankonin 1:22
right. All right. Well, we will judge this as your review. Right. So yeah, no, should be a good time today. You know, we we got some great feedback from a number of banks who have shared with us some of the results they’ve had from different campaigns. So we’ll share some of those. We’ll also share the ups and downs in between instead of the positive things that happen when we do campaigns, some of the reasons we do campaigns, and some of the reasons or things to avoid when doing campaigns that we we do unfortunately, have some horror stories on that side too, that we could share with you a little bit. So we know that a few of you are in it just for the Rex. So, so that’s okay. But you know, starting out, Courtney, why did campaigns work?
Courtney Haggart 2:13
Yeah, well campaigns work because you’re creating an opportunity and a sense of urgency to your audience to get involved with something. Some examples that we have here are more mainstream, but think of like the McRib, or the pumpkin spice latte. It’s so popular because it’s only available for a limited time. So yeah, Starbucks could make it available all year, but the popularity of it would decline because there’s not that sense of urgency of I need to go and get this. And so the reason campaigns work is because it’s a timeline that you’re creating to tell people you know, the train is leaving the station. You need to get on it.
Ben Pankonin 2:53
Yeah, I love that. I love that example. Because you know, it is one of those things that we look forward to those things. They are only there for a limited time. And as humans, we know that we want what we can’t have. And, and we we only buy into things that have value, right? So when when we think of those two things, we we want what we can’t have we know that, oh, now it’s time, right? You know, it’s, there’s a limited release, or there’s, you know, different opportunities. Sometimes in banking in particular, we get in this mentality that says, We’re a full service institution, we can provide all of these services. But when we can kind of narrow them down, it creates an awareness for that topic or that thing. It was just working yesterday with a bank is doing some instant issue credit cards and things like that. We’re saying, hey, like, this is the time to talk about it. Like let’s, let’s pick a time and let’s just talk about that one topic. So when we think about campaigns, I think those are great things. Also Fun fact, my friend’s dad invented the McRib. How cool is that? So I think those are kind of, you know, fun examples to kind of think about, like, you know, the pumpkin spice latte gets talked about a whole lot starting fall. And, you know, we talk about, you know, going to a specific restaurant for a certain day of the week because of a special, I think, you know, we can think about those same things and harness that same sort of energy when we narrow those things down. And we know we have a campaign for a given amount of time. So restricting that amount of time is really an important component to increase that engagement. So when we think about campaigns, we’re going to kind of take a broader view of campaigns. It’s not necessarily just a giveaway, it could be, you know, a lot of different options. But we got a few different things that you’ve broken this out for us for so one of those kind of like types, and so we can kind of brainstorm a little bit. Yeah, some of the types of campaigns. We’re going to talk about rules. So For those of you who need to follow the rules, I think that’s a good thing for us. Okay. Okay, that’s a good thing for all of us to consider. And then we’ve got, you know, how do we get people to participate in a campaign, whatever it is. And then your timelines and advertising, how do we kind of set out a timeline and actually maximize that result? So cool. Well, well, with that, let’s let’s talk about some different types of campaigns. We have, you know, really, there’s, there’s really three types of a, of a campaign when we think about what we’re doing for a promotion like that on social media. One would be sweepstakes. So when we look at the first two, the difference between sweepstakes and a contest is really one involves skill and just one just involves chance. Yeah. And we also see a hybrid of these two at times. So sometimes we will have you know, like this photo in order to enter the contest vote on this.
Courtney Haggart 6:04
Yeah. So like to comment this to be entered into the contest? Yeah.
Ben Pankonin 6:09
Right. Right. And so, you know, sometimes you have like, qualifying entrance, right, just so they could, you know, they could be it took some skill to enter the contest, but then maybe the, you know, winner is chosen at random.
Courtney Haggart 6:22
Yeah, I think that’s a big difference between a sweepstakes and the contest is how the winner is determined. With a contest. It’s always going to be some sort of voting or judging criteria. Typically, we like the public to vote, just to keep it as fair as possible. And so no one can come back and say that your financial institution selected these winners unfairly. Yeah, we want to always be able to defend the winners that were chosen.
Ben Pankonin 6:48
Right. Now I have seen somewhere they’re sort of like decided by committee, and that can be okay, too. I’ve helped to be on the committee before it’s kind of an honor. But But you know, really Realistically, the what a lot of times those are doing is when we do something like that that’s more decided by committee. Usually it’s something that’s that everybody would agree is good. Like, we’re going to give away some things to some nonprofits. And or, you know, we want to, you know, gather some stories of positive tivity in our community, things like that are more decided by committee. That’s kind of how we decide scholarships and things like that, oftentimes, and that’s somewhat of a contest. Now, the third one, which we haven’t talked about yet, is a lottery. And, quite honestly, you know, we, we bring this up, and we’ve brought this up a number of times, but reality is, that’s when we get into trouble. And, you know, we, obviously we’re not licensed to conduct an unsanctioned lottery. So we don’t want to be in a lottery, but whenever we’re requiring a purchase, we’re requiring them to create a bank account in order to be entered into win, then we are essentially creating a lottery. Yeah. And so I’ve actually had a couple in the last year, or I’ve had to respond back and say, actually, this steps over that line into the area in which it becomes a lottery. And that’s, that’s definitely something we want to avoid. So yeah, obviously, an unsanctioned lottery isn’t something that we want to support. And there’s implications both from social media channels, taking action on that, as well as, you know, regulations in particular. Now, there’s, there’s other things that are non compliant. And we’ll talk about some of those too, but, but that’s one of the ones we want to make sure we avoid. So types and rules. So give us give us kind of a breakdown of the different types of campaigns here.
Courtney Haggart 8:51
Yeah, so this is really what this section is about. And we have more, I’ll go more into depth on photo contests, comment giveaways and charities later here in the present. But I wanted to start out with showing two examples. The first one on the left is a photo contest. And this is compliant and up to regulation to run on Facebook. And the second example is actually against Facebook’s guidelines. And it’s not a campaign that you want to run. So I thought it was important to show these side by side to kind of show the differences in language. The second one is requiring a follow it’s requiring you to tag a friend and comment in order to be able to enter, we’re going to want to stray away from those in any campaigns that we’re running on social. And then the in the first one, it’s just the language of encouraging them to vote, telling them specifically how to enter the timeline of the campaign. So those are really important things to mention whenever you run a campaign on social
Ben Pankonin 9:50
awesome, yeah, so I mean, and the the ones that you’re giving here, great clarity, but yeah, there’s there’s really kind of a A couple fundamental things we want to think through right is sort of like, are we like, in the beginning? Are we starting out a sweepstakes? Or are we starting out a contest? Or some hybrid of both? Yeah. It should help you to unify languages are starting to think through those. But yeah, a couple couple great examples. And so when we start kind of like a sweepstakes, or giveaway, what are the things we should be thinking about?
Courtney Haggart 10:25
Yeah, so this is an example of a photo contest. These are really popular on Facebook, you see these all the time. Some things you want to consider are having a clear call to action, there’s a clear timeline shown and a simple submission form, the easier you make it, the easier it’s going to be to get involved. So here’s an example of what a photo contest looks like when it’s broken into three parts on a landing page. I get a lot of questions about this, when I’m talking about this day to day so I wanted to highlight this in our presentation but the reason we break this in three parts and have a landing page is for a few reasons. First is the entry period. If you’re having people enter on Facebook, there’s less control over what’s being entered. And so if somebody submits something inappropriate or not relevant to the contest, yes, you can delete those comments. But it might be up for a specific period of time people might see it, we don’t have that happen as often. But that is a risk. So that’s why we do it on the landing page. It also makes entering it easier, and we have to compliance can improve every entry and make sure it’s appropriate and relevant before it goes on to the landing page for the public to see. The reason that we do a first voting period on the landing page is because if you’re having 30 plus people enter a contest, if you’re posting all of those on your Facebook page, studies have shown that people are really only going to scroll through five to 10 photos. So if you’re thinking of what you would do on your timeline, if somebody posted 50 photos, would you really scroll Through all of those, probably not. So that’s why we’d like to do a first round of voting on a landing page. And then the third is on your Facebook page where you move the top three to 10 photos for the public to vote on. And it’s just making it simpler, having less choices makes it easier for people to choose and to have a more successful contest.
Ben Pankonin 12:21
Awesome. Yeah. And, you know, I think what you’ve shown here, too, is like, it’s so simple, that people should understand really quickly, and be able to tell somebody else. Sometimes we get into contests where we’re brainstorming, and all of a sudden, it gets complicated. And if you’re feeling like it’s getting complicated, then something’s wrong. Like it shouldn’t. It shouldn’t feel complicated. It shouldn’t feel like like we have to sort of come up with ideas and you know, simplify, you know, more than three steps and it gets tough.
Courtney Haggart 12:53
Yeah, I think complications can also be solved by breaking it into parts like this as well. So if we did it all in one, it would be complicated for the public to understand. But by saying, This is the entry period, this is when you’re going to vote. This is the final round, and really laying that out that just eliminate eliminates the confusion from the campaign.
Ben Pankonin 13:12
Yeah, you’re right. No, I think, yeah, I think the more simple, the more engagement we’re going to get to, every once in a while we watch, you know, we work through a campaign and I’m thinking, you know, this sounds really cool. But like, we’ve got to find a way to make it. Hey, they can make a quick comment, or here’s how quickly they can upload a photo. So yeah, we’ll go through some other examples of that, too. Now, what are some tips here for you got some go local, and for state bancaires, which I think are two great contests.
Courtney Haggart 13:46
Yeah. So these are just other examples of campaigns that are different from photo contests. One of them is a common campaign. So to enter people, the one on the left, they just have to tell them about Their favorite local business and why for a chance to win a gift basket full of local items. This was a really great campaign to get the local community involved because a lot of small businesses actually donated this. So it was a low cost campaign and it saw a lot of engagement because you’re just asking people a simple question that they can easily enter. This happens all in one post, you’ll notice that this isn’t broken down, like a photo contest is the second example is a Charity Campaign. So this particular institution highlighted five charities that they’re close with, and they donate to regularly and kind of gave us an offset of what each of them is about and what who they helped around the community. And then the public voted on who they wanted their donations to go to. So that was a great way to give back to the community and have the public, you know, kind of have a say of, I’m also passionate about this organization and I would like to see you donate To this
Ben Pankonin 15:00
awesome, we see a lot of good ones. These both kind of embrace local really well, yeah, I think that’s a, that’s a great model. Regardless of the number of branches, I actually talked to several that we’re working with right now that, you know, kind of spanning multiple states and, you know, some of those options where they’re saying, Hey, we, we have the struggle of still being local. So whether you’re, you know, you’re trying to span multiple states, or you got one branch, I think that’s still, the concern a lot of times is, Hey, you know, we’ve got you, we’ve got to maintain that view that we’re local. So I think I think both of these do that in some really nice ways. We’ve also seen some examples where, you know, there’s multiple markets or multiple branch locations or multiple communities, where you kind of doing one giveaway per community and both of these would work for examples like that too. So, so a few things in that entry point. One of them is You know, hate making sure we know that we’re avoiding that sense of a lottery, that’s, that’s definitely a top priority, requiring to, you know, entrance to, you know, open an account, participate in that way, if you’re asking them to participate is as a business relationship in some way that could step over that line. So definitely something we want to make sure we avoid in any way. So we don’t want to be doing that. But then, you know, in each of those contests you ran, we were linking to rules. Even those photo contests that just say, hey, like comment on a photo, we’re still linking to some additional rules, so that at least we know that they have an opportunity to read those. So I think that’s really important.
Courtney Haggart 16:50
This is really where compliance comes in and feels comfortable with a campaign because you have to have those rules stated because there are people out there who do try To find loopholes, and we see it happen not regularly, but from time to time, even big companies that happens to so you want to clearly be stating how people can enter eligibility, things like that just get those all crossed off before you run a campaign. And you won’t run into any issues of people trying to find loopholes and trying to get where you have to give everybody $500 who entered. So that’s what we’re avoiding by making a rule stage.
Ben Pankonin 17:25
Yeah, I mean, one of the great tests is, is to go down the hall, right? You might be the marketing person of one, or you’re the one kind of creating it, sometimes you get really close to it. And so one of the things I’ll do is sort of present a contest to a stranger and say, Hey, here’s, can you tell me how this would work? And is a great way to just, you know, take that person down the hall and say, Hey, could you could you just read through this and tell me how it works, and then have them tell it back to you and it’s a great way to just emphasize the simplicity. If they tell it back to you and they’re wrong, then you got to go back to the drawing board right? Again, it wasn’t clear enough. So clarity, I think is ultimately important. eligibility requirements, we see some great eligibility requirements. So sometimes we have this example where we’d say, Hey, we want to make sure that we’re doing a contest, but we want to make sure it’s in our, you know, market serviceable area, we don’t want, you know, a whole bunch of people that are maybe out of country or across the country that are that are applying. There’s some really simple ways to do that. One is to have them collect their prize at a branch location, right? Yeah. Like that can be part of winning. Or you can make the eligibility based on your market service areas. Yeah, that can work on you make sure you’re not going to narrow on those, you know, eligibility requirements, like you must, you know, live within a mile of a branch or things like that we can get into soon discriminatory problems. So it’s CRA challenges, if we’re doing that. So so that’s That’s definitely something you want to make sure to, to avoid. But you know, if you’re saying, hey, are our market service areas as a bank, are these three counties or, you know, this state, being able to state that clearly, I think is important.
Courtney Haggart 19:17
And for photos, you always want to make sure that they’re checking a box that they’ve read the rules and agree that you can use their photos as promotional purposes on your Facebook or social page. That’s really important to have. Typically, they just check the box without reading the rules. But it’s important to have the rules ready to go and compliant so that if they do read them, they’re understanding that you will use their photo for a promotion, right? We don’t want them stealing somebody else’s photography. We also don’t want to when we’re creating those contests, these stealing anyone else’s trademarks, we’ve run into that a number of times, especially around ticket giveaways,
Ben Pankonin 19:57
right tickets, you know, things like Yeah, sporting events, or, you know, something like, there’s that big game that we play at the end of the season for professional football. There’s that one, right. Like, and and we know, there’s some some very specific language that we can use without saying the real name, right? Yeah. And so that, like, those are things that we have to kind of work through when we’re making a contest. That happens to be, you know, your tailgate contest or things like that. Yeah,
Courtney Haggart 20:29
it gets a little trickier when it comes to sports, because you’d be surprised at how many different words and language are trademarked by the university or by the sports team. So you always want to make sure all of those are Google. And if you’re not entirely sure what you can and can’t say in a promotion, there’s usually a trademark office that you can call for that specific university or professional team and they’ll be able to tell you, you know, what’s allowed and what isn’t,
Ben Pankonin 20:56
yeah. Or, you know, reach out to USPTO Yeah, there’s definitely some good, you know, ways to look at that. But But yeah, you know, definitely when we’re looking at some of those, that’s, that’s really probably where we get into the biggest trouble. But you know, we also see examples when that isn’t followed. Yeah, we had one. We were just checking that the other day, a bank that that we’ve worked with, had reached out a month ago and said, our Facebook page has been removed. And so I said, Well, you know, what happened? They said, Well, we were actually given a list of guidelines and rules by a software company that services financial institutions, gave us a, you know, guidelines for running a contest. And so we ran that on Facebook, and now Facebook pulled our page now. Now, the reality was there. There were a few reasons why that got pulled down when when I went to look at the regulations. I think they were intended The contest to not be a social media contest. And they were intending for that to be a contest that maybe you would do in a branch or things like that there. So there was a giveaway involved, things like that. But stating those things like Facebook’s no in no way affiliated with this contest, which is language that Facebook gives us directly. If you don’t include that Facebook can just remove your Facebook page. And so they removed it for about a month.
Courtney Haggart 22:28
Yeah, I just came back a couple of days ago. So that’s a whole month, especially around the holiday season. That’s just last
Ben Pankonin 22:34
Yeah, yeah. So it was really fortunate that you know, we were able to get the the page back up and running. But you know, it was it was close to a month that that they didn’t have a Facebook page. So you know, it’s nice to nice to get that back. Glad that that they’re up and running again. And then you know, not to troll, you know, the Iowa Hawkeyes, but as a Nebraska boy, it was it was kind of Interesting to see that their account was the one that that got it get that got suspended, but it was suspended actually for using copyrighted music on Twitter. And this actually extended when this happened earlier this year, I wasn’t just their account that was suspended. It was also the clippers. There were several other professional teams that that were implicated in this at the same time and Twitter just decided to take a stance on it. And so they just pulled down those Twitter profiles. And no
Courtney Haggart 23:33
one is too big to fail. So Right, right. nebraskaland never good,
Ben Pankonin 23:37
good putt. But yeah, no, in this space, I think that’s that’s kind of one of the big challenges there is, you know, this can affect everybody. So using copyrighted material, making sure that you’re you have terms and conditions that are clear, and that do comply with Facebook’s terms and conditions. Facebook’s terms and conditions aren’t super long. So you know, reading through those You know, it doesn’t necessarily require a law degree to get through those. But you know, it is important that we, you know, you make sure that you’re, you’re paying attention to some of those details in the way those are shared. So now, you know, now that we’ve kind of gotten through some of the the challenges and frustration, let’s get some people involved in these contests. And, you know, Courtney, we’re always kind of having those conversations with with people about how do we make sure that this has good brand awareness? How do we make sure it gets likes on our page? What do we do to get contests going? You get it as a few tangible ways. Yeah, to make sure we get people to participate.
Courtney Haggart 24:40
Yeah. So one of the things that you don’t want to do is require somebody to tag a friend share on their timeline to enter, share to get additional entries, and people give me a lot of questions about this because it’s not a lottery. So this isn’t illegal. It’s not against The law to do this, but it is in fact, against Facebook’s guidelines for running a promotion. So that’s why we recommend that you do not require any of these things. When running any type of campaign on Facebook or Instagram, they actually state in their promotion guidelines that any type of that language is not permitted. So you’re risking the campaign being taking down, we’ve seen somebody page get suspended for a month. So these are things that we want to avoid when creating a campaign.
Ben Pankonin 25:32
Awesome. Yeah, no, we’ve had we had some good questions on, you know, coming in on, you know, how to make sure we’re running contests that are getting people to engage with them, actually had a great question come in about how do I run a contest on LinkedIn? So I think that’s a fun one, you know, we spent well, you and I actually spent a whole day with a bank talking with them. about different contests and different things that they could do last week on LinkedIn. And there’s there’s some really fun examples about that. You know, some fun ways to really get your team involved. And I think that was kind of a fun one that, you know, when we start talking about things like LinkedIn, it’s about getting your team involved, more so than it is, you know, just getting your public involved, right? Because you can amplify everything that’s happened. So that’s a really fun way to think about it. Because it’s not just about getting you involved. It’s more about getting your team evolved. Yeah. So yeah, good stuff there.
Courtney Haggart 26:41
So after I tell clients what they can’t do, I always get the question, what will then what can I do? How am I going to get engagement on this? Really, it’s all about the language that you’re using. So yeah, you can’t require people to tag a friend but you can encourage them to tell a friend so that they can enter the call. Test as well, you always want to make sure that it’s clear that no purchase is necessary to win. But I think this is a really great example that we have with the language of you know, don’t forget to follow our page to stay updated on this contest. So you’re encouraging people that there’s more to come, there’s more excitement. So they’re more enticed to follow your page. And again, with complexity, we want things to be clearly laid out. Because if your page is seen as confusing, people aren’t going to follow it.
Ben Pankonin 27:29
Yeah, so making sure that there, yeah, that everything is understandable. I like the children are grilling, I think that’s a lot of fun. You know, it hints towards, you know, towards this idea that, hey, when we run one of these contests in order to get participation, if that involves being outside, and we happen to be in the north, maybe we don’t want to do that January, February, like like so I think we also we want to have broad appeal when we can and then we want to you know, Make sure that we’re, you know, making sure we’re asking people, you know, to try to engage with us, but we can’t necessarily, you know, tell them that likes her are the only way to do that. So, so good stuff. Yeah, a lot of times we do have this mail in, you know, breach entries to make sure that it’s, it’s fair. So I’ve seen, you know, compliance officers end up on both sides of that argument, some of which would say, okay, we need to allow them to mail in. We never get Malan entrance like it just never had that had never, it never happens. So if you do include that in your long list of language, don’t be worried about being swamped with with mail in entries. People don’t have to mail anything or read newspapers anymore. So you have some participation guidelines on making it easy for the public to be involved. And I think there’s an art to A lot of times when we’re looking at how to find a contest that feels local, but also gets the public involved. And then general topics, sometimes we get hung up into something that we think is important, but making sure that a lot of people will find that important. Um, you know, several times posting the contest several times, this kind of goes back to we actually had a question about this earlier that I kind of wanted to save a little bit is, what do I do? Should I post once about the contest? Should I post the same post multiple times? What’s the art in that one? Courtney, what do you usually tell people about, you know, should I post multiple posts about, you know, hey, come join the contest, or should I really promote one post?
Courtney Haggart 29:48
Yeah, so I think that really depends on what type of campaign that you’re running per photo contest. You’re going to want to have multiple posts throughout each stage, to let the public know what’s going on what stage you’re at. But for a contest, like a comment campaign, all of that engagement and entry is going to happen on one post. So you’re going to want to do an announcement post, obviously, to let people know that in a couple of days, this is what you’ll be doing. But then on that one post, you’re not going to want to keep posting about that and bury it on your page. So with post that all of the engagement is happening on that one, you’re gonna want to boost that for people to see multiple days in a row, but not necessarily post about it in different posts every day.
Ben Pankonin 30:34
Cool. Yeah, no, I think, you know, there’s, there’s some virality that we want to tap into, right? Like, like, if I get some, if I get 100 people to engage on one post, the chances of their friends seeing that post, whether it’s on Facebook, whether it’s on Twitter, whether it’s on you know, LinkedIn or Instagram, they go way up. So if I can, if I can narrow that to one post, and get a ton of engagement on one post, that’s better than me getting minimal engagement on 3000 or, you know, something like that. So, you know, and the other thing that happens is if I get a small amount of gauge engagement on three to five posts, then what I have happen is, it’s the same people that engage in those three to five posts, where if I get a bunch of engagement, it starts to tap into that virality. So when you’ve seen this, you know, if you’re actually LinkedIn started doing this a lot more where LinkedIn will start to say, Hey, your post is getting viral, which means Hey, we’re starting to share this with people outside of your network. That Facebook doesn’t tell you when something starts to go viral, but it does happen.
Courtney Haggart 31:45
Facebook has the guidelines where if you have a post that’s performing better than the other posts on your timeline, it will encourage you to boost that post. And if you’re doing a campaign, you really do want to have some type of pay to play in there as well. But Facebook does give you some, not as much as not as much insight as LinkedIn. But they will tell you when a post is performing better compared to your other ones on your page.
Ben Pankonin 32:10
Yeah, yeah, no. So those are those are really good. When we talk about participation, sometimes when we’re picking out different options as well, for getting people to participate. Make sure you know what’s required of you to so I was working with a bank in the southwest that said, Hey, we’d love to do. You know, it was kind of a student generated content and they said, let’s do college savings bonds. Well, cost savings bonds are great, because it did was or Lincoln with their brand message. But you know, my advice would be not to do that again, because there’s a lot of red tape you have to fill out to get each one of those. There’s some paperwork, and then you got to work with the winners. And yeah, they picked several winners and so you know, some of those things for participation. Make sure it’s not too much hard on your part either. So determining the winner should be really clear and straightforward. Also, awarding the winner should be clear and straightforward. You know, if that’s that you’re going to hand them something or get them involved, like, make sure that that’s easy to get them involved. I would also say, you know, once they win, we want to photo then too. So one of the things we miss sometimes when we make guidelines, or I’ve seen missed a lot of times is somebody says, Oh, yeah, now I want a photo of the winner. I need them to sign something so that I can get a photo release for the winner. Well, just put that in your guidelines, right? Yeah, people are like, if I win, sure, get a photo with you. Like that’d be great. And don’t make don’t make further challenges for yourself by not pre planning some of those things into your contest, because then you can just tuck it right into your contest. If you win, we we love to use your likeness or, or whatever that is. You can put that those terms Conditions right in the guidelines, and then you don’t have to worry about it later. Yeah. So those are good ones on getting employees involved. I think this is a great pro slide. You know, drafting his emails beforehand.
Courtney Haggart 34:13
Yeah. Any other company email before letting them know, Hey, we’re running this campaign. This is what it’s about lookout for it on our Facebook page, they’re going to be more alert and ready to share, like the post. Obviously, posts with higher likes appear higher on users’ newsfeeds. So we want our employees to get involved, even if they may not be able to enter. Due to rules and guidelines, they can still share so that their friends can enter and they can share it to their timeline so that more people see it.
Ben Pankonin 34:41
Yeah, know that. I think employee engagement is huge. When we start seeing, you know, more and more engagement by employees, getting them to buy into it, even getting them to say, hey, you’ve got a dog that’s driving through the drive thru. Here’s a treat by the way. We’re doing contests that involves pets, like we’d love to have you involved. You know, we’d love to have, you know, that cute cat or dog or whatever it is, you know, coming through the drive thru, I think those are fun ways to invite people. And I think when you can turn to your tellers and universal bankers and say, Hey, we want you to invite people, this is fun for all of us, and it ramps up our brand. You know, those are, those are really fun ways to do it. And if it’s giving in the community, you know, getting your employees to share what they’re doing. You know, we have a huge initiative, we’re working with a lot of CRA regulations, and also tracking of social media, and, and tracking of employee involvement. And I think those are fun ways to bring them in and say, Hey, we want to give back to some of these community organizations. How are you? How are you doing this? Who are you involved with? I think those are really fun ways to do that, too. So let’s talk a little bit about setting up that timeline. And I just had some questions about advertising. So I’m gonna I’m going to hold a couple of those here for a few slides. But when we think of a length of campaign, what’s the magic? Courtney? Like? What’s the magic to a length of campaign?
Courtney Haggart 36:11
You know, there’s there’s no end all be all answer to that question, man, because it really does depend on what type of campaign for a photo campaign, that’s going to be the longest type, I would say that you’ll have, typically because there’s just more parts that go into it. As we mentioned before, we do it in three parts. So we want that to be 12 to 14 days and to give people at least a week to enter a photo. But for common campaigns, charity campaigns, those typically range from four to 10 days. I like the amount of seven days because I think that a week is a good amount of time for you know, people are going to work they might not have time to check. I think seven days is good, but any any range of these timelines are are going to get engagement and will be good for your brand. Cool. And there’s, you know, there’s some variables in there, right? Like, you know, when we asked about things like LinkedIn, if I was running a LinkedIn contest, I would double it, like, I would just double any number that you’re looking at, because people don’t necessarily check
Ben Pankonin 37:14
it every day. And it just takes longer. Also LinkedIn, that work, so they have to enter, they might need to remember to log back on afterwards. Right? And and, you know, LinkedIn is going to save that content for a longer period of time. Um, you know, when we look at Instagram, I would generally skew that one a little bit longer than Facebook. You know, just we’re not making as much content, you know, Instagrams, a really tricky one for campaigns a lot of times because, you know, entering sometimes is tricky. But yeah, there’s just the way that linking works on Instagram. Yeah, you know, makes things a
Courtney Haggart 37:51
little bit more bio rather than on the actual post itself. Yeah, there’s definitely elements of complexity depending on what social You’re on.
Ben Pankonin 38:01
Yeah, yeah, for sure. So yeah, but you know, you’ll definitely see those Hey, there’s you can enter with those those multiple stages, spacing those out for at least a few days can it gives you that, that spacing in it. So, a few checklist items for thinking about how you would think about a contest and for what you might be thinking about.
Courtney Haggart 38:27
Yeah, you name a hashtag making sure that that’s something that’s understandable, right? So these are all of the things that need to happen internally, before you’re posting this to your social pages. These all need to be well thought out, written, ready to go before you’re running your campaign.
Ben Pankonin 38:44
Right, you know, making sure it’s unique, right? That’s really where you’re going to kind of brainstorm that hashtag something that’s memorable. Something that you know, is clear enough that you can find it later. I think those are really important. You know, making sure you get that rules page, whether you’re doing that, you know, having somebody like us and generate those rules and conditions. I think you also want to be very, very cognizant of things like CRA when you’re running those, those contests. If you’re working with a third party to help design some of those things, they need to understand what is discriminatory and what would not be discriminatory. So making sure that that you’ve got a clear definition around all of those if somebody else is working with you to make some of those rule pages. There’s definitely things to think about within banking that you wouldn’t have to think about. If you were just sort of like generally making social media contests. So definitely some things like that. And then, you know, at the bottom, you talked a little bit about boosting. Alright, so, so when we think about how do we advertise or boost those? Why would we advertise or boost a contest? Isn’t isn’t it already a giveaway? Courtney?
Courtney Haggart 39:56
Yes. So ideally, you’re getting a lot of work. content and people are sharing those posts organically so that it’s able to view for more people. But by boosting your advertising your campaign, you’re just getting more exposure to people who don’t necessarily follow your brand, who are in the area in your geographic location who might not have seen it. Otherwise.
Ben Pankonin 40:21
Yeah, yeah. So the reality is, you especially a channel like Facebook, it’s a pay to play space. So if Facebook wants to, to see some level of financial commitment to distribute that outside your network, that’s just part of part of running a contest. But you know, you can you can reach a much, much bigger audience with a minimal amount of investment there could be five could be $10. You know, targeting, you know, your branch areas. If you get something that involves branch traffic, we’ve seen some, some cool contests that do involve random contests where they want to see you engage with a branch, they want to see some level of commitment that you’re either showing up to a branch or involved in one, maybe you have to select a branch. Those are kind of interesting. But then, you know, you can boost by each one of those. And you can actually do tracking if you do it that way. So you can see which branches had you know, had more traffic on social media, things like that. So those are interesting. That can create some complexity in the setup, though. So you know, reaching, you know, different audiences with advertising. You could reach people, you can target people who have visited your website with that offer, if you want to. So it depends on kind of what you’re trying to get behind that. If it’s people that have visited your website, and you just want them to see you’ve got a new offer, you’ve got a new product that you’re releasing. Those are great options and really low cost. So that’s one of the lowest cost advertising opportunities. retargeting people have already visited your website for one reason or another. So, yeah, no right or wrong in spending or boosts. I mean, you know, obviously, you know, when we say no right or wrong, you’re going to have more results with more dollars spent. You know, the minimums are around $5. But even a $5 boost will help you dramatically. But we know when you start to look at what you’re spending in other campaigns or opportunities that might not be on social media. You know, when you start to get to, you know, larger boost budgets. It really is a cost savings over other ways to notify people about what you’re doing. You know, I would also think about how many posts need to be boosted do we want to sort of like make one viral and then there’s some other announcements we want to make some reminders, a reminder, it’s not too late to enter archives. contest. I think those those can be effective to just create that sense of urgency. That also reminds me we had one that said, What about? We had a question that came in just a bit ago? On what about having people enter the contest multiple times? Have you run into this much? I’ve had a bunch of these, where we have people that enter the contest. And we’re like, oh, yeah, you can only enter once, right? And so, so that can help you limit some of those options.
Courtney Haggart 43:36
Yeah, because if you’re giving away more than one prize, allowing people to enter more than once, what if that person won the first and second prize? Then you’re getting into a little bit of a gray area there. So rules and guidelines is really what that comes back to and
Ben Pankonin 43:51
yeah, and settings if you have pain, yep. And settings if you’re creating it with a, you know, with a third party app, you know, then you have to consider like two Allow them to vote multiple times. So, so those come up.
Courtney Haggart 44:05
Another thing to consider when it comes to boosting ads, if you decide that you want to have multiple posts that are boosted, you don’t necessarily need to spend the same amount on each post, you may decide that that first post is more important to gain exposure and gain knowledge around the campaign. So you’ll spend more money on that first post. And then when it comes, you know, a few days later, and you post about it again, you won’t spend as much because there’s people who already know and have entered your campaign. So that’s important to keep in mind too. You don’t have to spend the same amount on each post that you’re boosting throughout a campaign.
Ben Pankonin 44:41
Yeah, yeah, I think those are, those are really critical to just kind of think through like how you want to reach all of your market. So and you know, I throw on here some of the CRA guidelines. You know, when we look at discrimination, it’s it’s actually when we start Start using advertising. This is where a lot of times, people can get into trouble about who they target, why they’re targeting them. So, if you’re putting money on Facebook, and you’re creating an audience, every time you create that audience, you could be discriminating in one way or another. So that’s something to just keep in mind. Whenever there’s advertising dollars being spent, that we have to think about, who we’re targeting, why we’re targeting them. Are we being inclusive? Or are we being discriminatory when we do that, so, so those are really important. So some different things that we measure, and I know you work on a lot of the reporting. So you’re setting up a lot of these different types of reports. Yeah. What are the things you look for?
Courtney Haggart 45:48
One of the biggest things I look for is the change in page likes and engagement. I think there’s a really clear cut of when a campaign starts after you go back after it’s ended. And you go and look at that. The insights provided by Facebook, there’s a huge increase of organic engagement. So that’s something that I like to look for within a campaign. New page likes are really important for any financial institution. Because by getting that they’re ensuring that somebody who maybe is your customer maybe isn’t, wants to be involved with your page in the future and not just for the length of your campaign. And page traffic is also something we like to measure. It goes way up during campaigns, especially with those boosted posts. You’re going to have more people visiting your page. So you want to make sure that everything’s updated, like
Ben Pankonin 46:36
profile, photo, cover photo, and everything looks good for when you have new page traffic coming. Yeah, you know, we actually noticed this happen sometimes when we run a campaign that’s just paid social and might not even involve the page. So we might go run a lending paid social campaign, but it happens to link to your Facebook page. So All of a sudden, you know, we’re spending a bunch of money to target on specific ads. But it’s not even showing up on your Facebook page. But people are all of a sudden clicking through that profile. And then you see an increase in page likes. So so that can happen, you know, depending on on why you’re targeting. So sometimes the after effect can be page likes, even though our intention on the whole contest was we just wanted people to meet with a loan officer, or we wanted them to come in and open an account or looking at a new checking opportunity. Those are sometimes don’t seem like they’re correlated, but we definitely see that happen a number of times. So So when we think about all of this, Courtney, you know, when we think about kind of putting all of this together, we’ve got rules. We’ve got, you know, different participation ways like we can, we can get employees involved, we can get people in the community involved. We didn’t talk a ton about getting those nonprofits involved, but that’s Something we see a lot, right this time of year is working with a nonprofit and saying, look, we normally give, you know, $1,000 at this time of the year, what we’d like to do. And I’ve seen some banks be very effective at this where they’ll reach out to the nonprofit and say, hey, we’ve got $1,000, we’re going to give this to you anyway. But by running a contest, we hope that we can heighten awareness for the nonprofit. Yeah. And I think that’s, that’s an important way to think about it. And to start reaching out to some of those nonprofits and saying, hey, we’d like to help you and run a contest at this time.
Courtney Haggart 48:38
We’ve never had a nonprofit that is not willing or doesn’t want to participate. So
Ben Pankonin 48:42
Right, right. But you know, I think there’s some some great ways you can be respectful of them in the community to to say, hey, look, if we just give you $1,000 that doesn’t raise awareness for your nonprofit in the same way as if we’re running a contest where Our employees don’t have shoes, or our staff is not shaving. Like we’ve got some things that we want to highlight about this. And I think, you know, just messaging to those people who are running the social media accounts for those nonprofits are great way to just connect with them and say, Hey, here’s why we’re doing this with the food bank. Or here’s why we’re doing this, you know, for whatever nonprofit. And it’s, it’s a cool way to start to link some of those together. So and then you know, that hopefully avoid some of the advertising spend that you have to put through it. But But you know, even then, that really helps you benefit that nonprofit to kind of say, hey, this isn’t just about a story and get together a contest to see who wins. We’re going to highlight your nonprofit. We’d love to help help sharing that as well. Yeah. So, so a lot of things to think about, you know, you’re kind of finishing out 2020 we also have our next webinar, we’re going to be talking about the changing CRA regulations. So fun fact, I spent this past weekend reading the 240 page proposed ruling, which actually there are some really important things. So whether you’re in ag lending, there’s some cool things about that. Whether you’re focused on people who don’t have branches nearby, you’re focused on very metro areas. There’s some some different things that apply there. There’s a ton that applies to services and community involvement that that I think can benefit you whether you’re the CRA officer, you’re the marketing manager, or somebody in compliance. There’s a lot of different things that will start to change around CRA that I think are welcome. But with that, Courtney, this is our last webinar of 2019. It doesn’t feel
Courtney Haggart 50:53
like it I can’t believe we only have like a week and a half left.
Ben Pankonin 50:57
Yeah. So thank you, everybody for participating. Today, I hope you have a wonderful Christmas next week and Happy New Year. So thanks for being with us. Thank you.