Recently, our team was asked to develop a generalized “social media for financial services” document, sort of along the lines of a chain restaurant table tent promoting why their new jalapeno poppers are so awesome and how they will benefit your overall well-being. For your consideration, we present the intro to our “table tent” below, with the perpetual “it’s in draft format” caveat.

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Social media: join the conversation

Organizations that embrace social media stand to develop relationships with their constituents and connect on a level never before seen through “traditional” communications efforts.

Social media applications such as YouTube, Facebook and Twitter not only enable millions of people to share ideas and opinions, they allow users to participate in ongoing conversations expressed in words, images and video. Through this shared expression comes the opportunity to harness the great and collaborative potential of advocates of your brand.

The recent presidential campaign was a groundbreaking example of effective social media communications. Nearly 80 percent of the 700 million dollars raised for the Obama campaign was solicited via social media channels. Because of this highly publicized success, more and more companies are awakening to the powerful potential of social media for connecting with customers, prospects, stakeholders and the public at large.

The perspective that social media is a fad is an error in judgment that many marketers continue to make, second only to the notion that social media is “a techie thing” or that social media is “for kids and college students.”

The financial services sector is equally poised to use these powerful and new communications channels. Examples abound: The investing community clearly understands the power of social media; scores of online communities exist for investors to share tips and investment strategies. A 2008 Cogent Research survey shows that nearly two-thirds of high-net investors claim peer-generated content influences their decisions. Social media applications like stocktwits.com employ a Twitter-inspired utility to microblog their investing strategies and questions to fellow investors. Banks are flocking on board with mobile services for customers. In short, smart financial services enterprises are adjusting to this shift in the way people get and give information.

A 2008 study of Inc. 500 companies by the Center for Marketing Research revealed that 44 percent described social media as a critical part of their business strategy, and social networking sites were cited as the most widely used tool.

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We’re looking for your comments to make our table tent better … mass collaboration anyone? How do you think the financial services sector will embrace social media? Who’s already doing a good job?