Word of mouth used to be just that. Companies did their best and hoped that satisfied customers would spread the word. It’s still true that companies must deliver (more than ever during these tough economic times), but they also have the opportunity to impact how their brand is perceived by being more involved in the conversation through social media.

Quicken Loans is one company that gets this trend and is using it to their advantage. Nine out of 10 customers would recommend the company to family and friends. And it’s the number one online mortgage company and growing. That says a lot, especially during a recession in an industry that’s been getting negative buzz lately.

Of course, the channel is only as good as the content. And, when I say content, I mean the true heart of the organization. Not propaganda or press releases, but who the company really is and what they stand for. Quicken Loans ensures its “voice” rings with authenticity and transparency by involving employees in their social media outreach.

Employees blogging for employees
I recently talked with Kelly LaVaute, social media manager and the editor of one of Quicken Loans’ blogs, called “WHAT’S THE DIFF? Exposing The Gap Between Average and Excellent.” Kelly also helps establish and maintain the company’s presence on websites, including Twitter, Facebook, YouTube and Yahoo! Answers. Here are five take-aways from our conversation:

1 Get real. “We’re not some big scary faceless bank,” says Kelly. “If you search for us, then THE DIFF is likely to pop up. And, if you spend even only seconds reading about us, you’re that much more likely to use us.” THE DIFF is written by employees for employees and clients, so what you read is what you get if you’re a potential client trying to get a feel for the company.

2 Get thrifty. It’s effective and relatively inexpensive compared to other modes of communication and advertising. Kelly said there are start-up costs for getting into social media, but there’s not a big cost to maintain a presence. What if you don’t have the time to do it? “It’s not anyone’s sole job here,” she answers. “Everyone’s busy. Our contributors include project managers, people from client relations and usability experts. We encourage contributions. Sometimes we get stuck about what topic to write about. But you start to pick up on things. Content ideas are everywhere. Just open your eyes.”

3 Love bad news. Kelly says Twitter is a powerful tool for connecting clients with the right people who can help them. “People are likely to go out and write about you when they’re upset,” she says. “Getting a mortgage is a pretty emotional thing. The worst thing is if it doesn’t go great and you have no review. This allows us to help give them the best experience possible. That’s what it’s really all about.”

4 Urgency is the price to play. “We’re moving quickly and updating people about those changes on the fly through social media,” she says. “Our industry is changing and guidelines are changing every day.” You’ve got to think there’s a connection between Quicken Loans’ ability to adapt to and communicate about what’s going on in the industry and why they had their biggest month in closings ever last May.

5 Social media plans evolve. Be prepared. Kelly told me that THE DIFF blog was started about three years ago as a tool for HR recruiting. “We wanted to reach out to people and show them what it’s like to work here. That has become less of a focus, but a lot of people who come into interview have read THE DIFF.”

One last point:

For social media to work, you’ve got to trust your people. “You start out by hiring good people, and then you instill in them that the company trusts them and you empower them as brand ambassadors,” says Kelly. “When it comes to social media, you have to treat employees like they’re a friend.”