Showing your face on Facebook: having a presence on this social networking site is an important way to boost your bank's digital brand. Here are some definitions of concepts (fans, walls, news feeds) and best practices.

• Author: Fish, Meagan L.
• Position: Social Media

Facebook is not just for kids anymore. Across the country, banks of all sizes are creating a presence on this social networking site. Today, this site is a destination for Web-savvy users of all generations--users who turn to online communities to connect with friends, family, co-workers and increasingly, brands Facebook has come a long way since 2004. when it served as the digital dorm room for select colleges and universities.

Fast-forward five years. The site currently has more than 60 million users in the United States alone and is recognized as the sixth most trafficked Web site in the nation. Facebook is a thriving, interactive hub for high school, collegiate and professional networks as well as a destination for businesses to engage users via the site's advertising platform.

In today's digital age, banks must communicate with customers who want a connection with their financial institution but would prefer doing so online. Facebook offers banks of any size the tools to create an online destination affordably and effectively--for these customers.

The basics

There are three ways to develop a presence on Facebook, and all are free.

* Personal user profile (your own identity; Facebook users become a "friend").

* Groups (great for organizations--such as alumni groups; Facebook users become "members").

* Business Page (best for brands, products and businesses; Facebook users become "fans").

As a bank, your best option is to create a business page--which offers the greatest opportunity for interaction, customization of your look and control over content. Over 8 million Facebook users become fans of business pages each day. By becoming a fan, users are inviting a business into their network, and making the choice to allow that business to actively engage them online. Fans are your best brand advocates. As soon as users clicks "become a fan," their support becomes a public announcement that is broadcast across what Facebook calls "news feeds." A news feed is a real-time reporting feature detailing what a user's friends are up to. With an average user having 120 friends on Facebook, you benefit from free digital word of mouth every time your bank gains a fan.

Getting started

With any marketing endeavor, strategy comes first. Don't fall into the trap of creating a page without a plan. Decide on what kind of tone/image you want to present, what content would appeal to fans and how to integrate a community feel on your page. Your bank may also want to develop an internal communication to get employees on board and to understand your expectations of their interaction with the page.

At this stage, determine how the page will be monitored and managed. That is, whether it will be done entirely in-house, by an outside vendor or a combination of the two. Also, page...