Social media in banking

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How social media is usefull for banks

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Social media in banking

  1. 1. social media in banking
  2. 2. contents • •Definition •Social media statements •Examples of social media •Challenges •Usage of social media in banks •How social media help banking •Practice tips •conclusion industry
  3. 3. Social media • Social media is the collective of online communications channels dedicated to community-based input, interaction, contentsharing and collaboration
  4. 4. Social media • Time spent on social networks is growing at 3X the overall internet rate, accounting ~10% of all time 93% of social media users believe a company should have a presence in social media
  5. 5. Which banks are doing well on face book? •
  6. 6. Social media presence •
  7. 7. Examples of social media •
  8. 8. New challenges for banks • •Enhance communications towards employees, market and shareholders • Listens(from communications to conversations) •Monitor conversations(which are out of their control) e Bank’s communications cannot afford to ignore social media
  9. 9. Customer service •
  10. 10. Conversations with customers •
  11. 11. Alternative media •
  12. 12. Mash up •
  13. 13. How social media help banking industry • •Monitor their brand identity •Test and get feedbacks on new products •Develop conversations and build trust •Launch innovative services •Increase web visits and conversions •Product/service alerts via “tweets”/messages
  14. 14. Social Media ‘Traffic Cops’ Can Keep Banks’ Compliance People Happy •
  15. 15. 7 Things Banks & Credit Unions Don’t Do In Social Channels (But Should) According to the 2013 Efma Marketing Survey, 84% of banks actively use Face book as part of their marketing strategy, and most everyone else plans to do the same in the near future 7 best practice tips:
  16. 16. 1.Go all-in
  17. 17. 2. Get the strategy ironed out
  18. 18. 3. Don’t just inform..Entertain ENTERTAINMENT INFORMATION
  19. 19. 4. BUILD YOUR COMMUNITY THROUGH PERSONAL INTERACTIONS
  20. 20. 5. RESOLVE CUSTOMER ISSUES PUBLICLY
  21. 21. 6. GET CREATIVE
  22. 22. 7. MONITOR & MEASURE
  23. 23. CONCLUSION “If approached with a clear-cut plan, commitment, and creativity, social media can be a great tool for banks”
  24. 24. REFERENCES =http://www.americanbanker.com/bankthink/a voiding-social-media-will-cost-bankscustomers-1059853-1.html =http://thefinancialbrand.com/32224/7-tipsfor-social-media-in-banking/ =http://thefinancialbrand.com/32334/temen os-banking-social-media-compliance-tool/
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