Jesse Torres, banker, author and social media expert, highlights in a Perspective article in the February issue of Bank Technology News (www.AmericanBanker.com/btn), the need for banks to implement a social media solution.

Within the article, It’s About the Social Not the Network, Mr. Torres states that “banks are realizing the need to implement a social media solution in order to differentiate themselves from the competition and to take an early stake in winning over the hearts and minds of the social network generation.” Mr. Torres further states that “if banks fail to understand the nuances of marketing on social networks, they will quickly find themselves abandoned by users. For this reason it is essential that bankers understand the finer points of navigating the world of online social networks in order to maximize the resources invested in developing a strategy that incorporates this attractive but finicky segment of the online world.”

Mr. Torres, who released in December 2008, The Community Banker’s Guide to Social Network Marketing, believes that most businesses implementing a social media strategy, including banks, do not understand that the key is to focus on the “social” element rather than the “technical” aspect, as being most important.

In The Community Banker’s Guide to Social Network Marketing, Mr. Torres addresses social networks, user demographics and the role of social networks within the greater sphere of social media. Also addressed at length is the development of viral marketing programs, consumer advocacy, conversational marketing, metrics and common pitfalls.

Jesse Torres is President and Chief Operating Officer of Security Savings Bank in Henderson, Nevada.