Don't leave it up to luck: nine questions to ask a digital or social media agency.

AuthorHershberger, Tara
PositionSOCIAL & DIGITAL MEDIA

A GROWING NUMBER OF FINANCIAL INSTITUTIONS are turning to agencies to manage the increasingly complicated and time consuming effort required to fulfill their social and digital strategy. It can be a delicate balance finding the right agency. There are the qualifications, experience and factual background that are must haves on your checklist. Then there's that extra something else--the connection, akin to the relationship bankers have with their clients, that can sustain a productive agency relationship for years. No matter how well "qualified" an agency is, without both of these elements, the relationship is bound to suffer. The decision making process is a balance between emotion and logic. So this article will identify some key questions to evaluate a potential social media agency from both perspectives.

All full -service agencies aren't experts at everything, particularly when it comes to digital and social media, which are disciplines unto themselves. So, oftentimes even though an agency is fully and successfully functioning as a bank's agency of record, there may be a benefit to finding a separate social or digital agency of record.

The "agency of record" designation is a more involved, longer term commitment by definition and is arguably even more important when considering a social media partner. They respond on your behalf to direct questions, public comments and public reviews. They are your voice. Done right, the social media agency of record becomes an extension of your financial institution's marketing department. Your social media agency strategizes your defense and advocates the positives to the very influential and vocal social media community.

The nine essential questions to ask a social media/digital agency of record:

  1. To what extent have you managed social sites/digital campaigns and how are they similar to our needs?

  2. What success have you had and what were the metrics?

  3. Have you worked with any financial institutions and can you provide references?

  4. What kind of reporting and analysis do you provide and how do you use that information to inform future campaigns?

  5. Who will be assigned to my account and in what capacity?

  6. How much of what you do is managed in-house?

  7. How did your agency come about and what was your role in that growth?

  8. How do you stay up-to-date on social/digital...

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