Facebook contests: Raising money for charity: you can boost your facebook traffic by developing contests in which residents vote on which local nonprofits should receive a special charitable contribution from your bank.

• Author: Foxworth, Rhonda

PERHAPS YOUR BANK'S FACEBOOK PAGE HAS NOT BEEN RECEIVING MUCH ACTION LATELY, and you're looking for a way to bump up viewership. And, because of Facebook's new algorithms, many people may not be seeing your posts anyway. How do you respond to these challenges?

Sure, you can pay for ads--but why not invest that money in a social media contest instead? Social A media contests get people talking. They provide the spark that starts conversations, increasing engagement and generating excitement. Contests can be as simple as "Like this post to be entered in a drawing" or as challenging as requiring users to upload homemade videos.

But what can really set your bank apart is a social media contest to give money to a local nonprofit organization.

Giving makes sense

Giving generously to local nonprofits is a banking tradition. Community banks know that giving is an investment in their communities. Community banks often have firsthand knowledge of the best-run local organizations and their need for support.

Giving makes sense to consumers. According to Cone Communications' 2013 Social Impact Study, "The U.S. consumer likelihood to opt for brands associated with a cause, given comparable price and quality, has jumped from two-thirds of the population in 1993 to nearly the entire population in 2013. Nearly all U.S. consumers say that when a company supports a cause, they have a more positive image of the company (93 percent)--up from 85 percent in 2010 and 84 percent in 1993. Americans say they are also more likely to trust (90 percent) and would be more loyal (90 percent) to companies that back causes."

A giving campaign doesn't require additional money. Often you can repurpose dollars that were already budgeted for contributions to nonprofits as the prize for your charitable-giving contest. Offering the money as a prize can provide significantly more exposure and excitement for the nonprofits than simply sending a check.

How to do it

Find an idea that will resonate with your target audience. Brainstorm with your team and with others to see what's important to your market. What's going on around your community right now or when you plan to run the contest?

Match the idea to your brand's positioning. A giving contest will amplify your bank's brand tremendously, but it has to be a smart fit. A contest can't suddenly make your bank feel young and hip if everything else you do shouts serious and stodgy.

How much money can you give away? Make the amount...