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Your Reputation Is at Risk on Social Media

APR 29, 2014 12:19pm ET
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Mortgage originators looking to market on social media have to be concerned about more than just the legal and regulatory risks.

There is a very realistic possibility your reputation could be at stake.

Those who do not like you have the opportunity to hijack something which is intended to portray your business in a positive light. And there may be nothing you can do about it.

Case in point: The New York Police Department recently introduced a twitter hashtag, #myNYPD, looking to get people to post pictures of people positively interacting with police officers. (Disclosure time: I have a number of family members and close friends who are current or retired NYPD officers; I, along with another family member, also have a civilian affiliation with the NYPD.)

However, what happened is that people who are NYPD critics took advantage of the situation and posted photographs of incidents between the department and civilians.

The early reaction in the mass media said NYPD had a big social media failure. But the hashtag remains available for use.

Police departments have always come under a certain amount of criticism and that may be why the NYPD has a low key reaction.

But mortgage lenders should be more proactive in defending their reputation. They need to monitor their social media postings and pages for negative comments and make appropriate responses. A game plan needs to be developed to handle each type of situation.

You cannot stop the negative posts. But with the proper response, the damage can be mitigated.

Comments (1)
Great post Brad! You're entirely correct. I think that part of being in business today is having a social media policy guide and also a good PR contact that preferably knows the industry and can handle a crisis situation if it should arise.

As for the guide, there are a lot of areas it needs to cover. For example, the tone of responses and posts that reflect the corporate brand, the chain of command (who's responsible for what), copyright usage, off-hours usage and how it may affect employment, your social media strategy and much more.
Posted by | Tuesday, May 06 2014 at 8:36PM ET
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