Tweet successfully by following these best practices.

• Author: Rice, Augusta
• Position: SOCIAL & DIGITAL MEDIA

LET'S FACE IT: SOCIAL MEDIA IS A VITAL PART OF OUR DAILY LIVES. Social networks have allowed us to create virtual communities through which we may build relationships, engage in meaningful dialogue and exchange ideas. While Facebook and LinkedIn have typically served as the doorways into this world for financial institutions, Twitter is proving to be exceptionally valuable.

After nearly a decade in the business, the $5 billion social network has 288 million monthly active users who send 500 million tweets per day. When coupled with the company's push for monetization through paid advertising, these statistics show that the microblogging site has established itself as a social network powerhouse.

Twitter is quite nuanced: Each 140-character tweet is a snapshot that uses minimal language to convey a message. Within that character limit, you must not only say something worthwhile, but also draw attention to the tweet by including relevant @mentions, fhashtags, external links, photos or videos.

To help you on this venture, the following is a list of Twitter best practices sure to bring you success in the world of 140 characters or less:

Determine your goals

Different brands and businesses use Twitter for different purposes. Twitter can function as a forum to reconcile customer service concerns or serve as a sales tool to showcase products and services. Once you decide your ultimate direction, you will be able to manage your account with a clear focus and will likely find more value in this social network.

Identify key influencers

Key influencers are the experts in the industry. They constantly share original content and up-to-date news and can be an invaluable resource. Do research to find the individuals who are "in-the-know," follow their account and engage with them. A retweet from an influencer can expose your account (and bank) to thousands of Twitter users who are interested in your industry!

Keep tabs on competitors

Like key influencers, competitor accounts are also valuable reservoirs of information. Unlike key influencers, you probably don't want to follow these accounts publicly. Instead, create a Twitter list. A list is a curated group of users whose tweets will appear in a separate timeline. By creating a list, you will be able to listen to what your competitors are saying, observe different tactics and find new ideas to better reach your intended audience. Keep your competitors in the dark by making this list "private."

Listen and...