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We could write and recap many a tale about the unwise and naïve use of social media, but there is another side of the story. Twitter reaches a large audience faster than TV, cable and radio. Twitter is, in fact, a broadcast media that you can control. It is fast, inexpensive and can be the exclusive medium that your financial institution can use to spread the word. More importantly, the digital native really likes Twitter.

A simple link on your website, “follow us on Twitter,” can be a great way to reach out to your customers quickly. You can use Twitter to announce rate changes (loans and deposits), staff promotions, board appointments, special events at your branch locations (such as a holiday open house) or to invite your customers to help your institution on your next community project, something like clean up the park or your next Habitat for Humanity build. You can even video the event and place a You Tube link on your website.

On the other hand, Twitter is not a place for customer information. It is not a place for dialog and it is clearly not a place that you tweet lightly. It can, however, be a fast, effective and fun way to get word out. Avoid Twitter Bombs by realizing that the enter key can be not only dangerous, but explosive. Pause before pushing, and Tweet Safely!

About the Author
Dan Fisher is president and CEO of The Copper River Group, a consulting firm headquartered in Fargo, N. D., that focuses on technology and payment systems research and consulting for community financial institutions. For nearly 30 years, Fisher has worked in the financial industry using technology to improve the bottom line. He was CIO of Community First Bankshares (now part of BancWest), has served as a director of the Federal Reserve Board of Minneapolis, the chairman of the American Bankers Association Payment Systems Committee, and was a member of the Independent Community Bankers of America Payments Committee. Fisher has written numerous articles on banking technology and the payments system. He has authored or co-authored six books and recently published a book titled, "Capturing Your Customer! The New Technology of Remote Deposit." You can contact Fisher at dan@copperrivergroup.com.

P.S. To understand Dan's nickname, check out "About the Wombat" on his website, www.copperrivergroup.com