Social media is fairly simple—it's easy enough to set up a Facebook page, right? Well, not exactly. The truth is, banks and credit unions have an array of opportunities they might be missing when it comes to social media.

Here are just a few that your financial institution should consider.

Skip boring content

This might seem like an obvious one, but you'd be surprised how easy it can be to dip into boringness. Don't think of social media as simply an opportunity for you to promote products or post context-free event photos. You'll lose the attentions of your followers quickly if you focus on the hard sell day in and day out. Promote conversation by asking questions (i.e., "What would be in your dream home?" versus "We have special promotional rates on mortgages!") and storytelling (i.e., talking about the benefits and outcomes of your team's Habitat project, rather than just posting a smiley photo).

Respond to customers uniquely and quickly

How fast is your response time on social media? When a customer or prospective customer reaches out on Facebook or Twitter, do you respond quickly and uniquely? Customers expect to engage with their favorite brands, so avoid plugging in robotic, clearly prewritten responses—savvy consumers see right through them and can recognize impersonal tendencies. And make sure you have the bandwidth to respond in a timely manner—more and more, customers are expecting a response with a great deal of immediacy, so don't let them fall into frustration in the waiting game.

Build products communally

What better way to promote buy-in on new products and services than letting your customer base have a say in their key benefits and features? Engage with your followers on social media by asking them what they would want in their ideal checking account or what they wish they could accomplish through online banking or the drive-up window. If they feel like a part of something, they're much more likely to follow through on a purchase or adoption once it launches—it's a lesson clearly learned from Kickstarter.

Educate

Sometimes what a customer is truly seeking is education, rather than promotion. Make sure your social media presence provides useful learning opportunities—from budgeting tips to house-shopping advice to college-saving tools. Put yourself in the trusted advisor role, and you can leverage your status for cross-sells down the road.

Don't let your social media presences die on the vine. Apply these basic tips, and see the value of social engagement and education.