Social Banking is a term that I have assigned to the process of exchanging value for trust within the social networking arena.
An inverted method of maneuvering the masses:
- Deposit Value
- Accumulate Trust
- Withdrawal Attention
If you deposit value in a relationship, you accumulate trust (equity). This is why it is said that people pay-attention, because attention equals time and time equals money. However, before you can expect someone to pay you their attention, you must first offer some sort of value that is conducive to their need.
Trust is the only currency, or medium of exchange, that will induce your prospects’ purchasing power.
Once you’ve appropriated the value you intend to give in exchange for the attention of your prospect, assuming you capture the name and email in return for the value that you are offering, you can then launch your targeted campaign to fulfill your brand objective.
Remember, becoming a Social Banker means that you must court your prospect. Engage the prospect with their best interest in mind. And when the time is right, they will ask you where to swipe.