Financial Services Uses the Social Web to Provide Optimal Customer Service


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If you’re working in the field of Financial Services, it can be daunting to jump into social media. With so many rules and regulations, it’s sometimes hard to know where to start. But whatever your level of experience is with the social web, it’s never too late to build stronger connections, and grow your business online.

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Financial Services Uses the Social Web to Provide Optimal Customer Service

  1. 1. Financial ServicesIf you’re working in the field of Financial Services,it can be daunting to jump into social media. Withso many rules and regulations, it’s sometimes hardto know where to start. But whatever your levelof experience is with the social web, it’s never toolate to build stronger connections, and grow yourbusiness online.With a sound social listening plan, you’ll be well share everything from corporate news to careeron your way to communicating more effectively, opportunities, the bank works hard to engage withand discovering the conversations that are most their customers, too. Fielding questions aboutrelevant for your brand. their products and services, the @BofA_Help Twitter account is employee-maintained, and aims to answer questions in a timely and transparentProvide the Best Social fashion. Openly engaging on the social webCustomer Service helps Bank of America stay on top of customer concerns, helping their banking community get back on track in no time.While some customers prefer heading to theirclosest branch, others just want to be able toget their banking questions answered quicklyon a convenient channel. In a lot of cases that Share Expert Advicemeans taking your exceptional customer service While your customers might have some interesttechniques and applying them to interactions on in learning about the rates your bank offers, andthe social web. the hours you keep, what they’re really interested in is getting expert advice on financial issuesUnderstanding the importance of opening relevant to their needs. Providing expert advice thatcommunication channels between themselves makes sense to your customers is another greatand their customers, Bank of America strives opportunity to build trust, and put a human face onto be as available as possible online. While the often serious world of finance.maintaining a long list of social handles thatwww.radian6.com1 888 6RADIAN (1 888 672-3426) Copyright © 2012 - Radian6
  2. 2. Financial, is often celebrated for their online Grow Customer Loyaltymoney management tools and tips. Understandingthat many social users are seeking expert advice With so many financial institutions to choosewhen it comes to managing their personal finances, from, how do you ensure customers remain shares resources their customers to you? Increase your visibility and create greaterneed to achieve financial success. A focused social connections with your customers, demonstrating tolistening strategy helps the team at your fan base that you truly value their business.locate the questions and concerns being shared bytheir customers, and ensures they’re generating Aiming to increase sales at local businesses andcontent that is relevant for their audience. And this revamp the image of Main Streets across America,attention to detail is paying off: having only launched American Express founded their Small Businessin 2010, they had over 55,000 unique viewers to Saturday campaign. Working in tandem with boththeir website in the month of December 2011 alone. small businesses as well as consumers in the same markets, American Express interacted on both Twitter and Facebook to drum up support forGive Customers What They Want the event and share important details. Offering free Facebook advertising for small retailers, asImplementing new products or customer service well as $25 vouchers for both current and nontechniques? No one knows the needs of consumers American Express customers alike, the event was abetter than themselves. Listening to customer smashing success. American Express said over 2.7discussions on the social web is a great way to million people ‘Liked’ the Small Business Saturdaydetermine whether you’re on the right path, or if Facebook page, and over 190,000 tweets were sentyour offerings could use a little more tweaking to during the month of November 2011 in support ofreally hit the mark. the campaign. And the success wasn’t limited to the social web – American Express saw a 23% increaseING Direct is a fully online bank that sets in transactions at small businesses.themselves apart from competitors. Having nophysical locations, they knew their customers weretalking on the social web. That’s why, when it came Increase Your Accessibilitytime to implement a new chequing account, thefinancial institution turned to online social networks Customers’ hectic schedules don’t always maketo solicit feedback on their new offerings – and it easy to get into a branch during regular bankthey received it in spades. This effort to involve hours. TD understood the need to be increasinglycustomers helped ING Direct get a huge amount accessible to their customers, so they set up Socialof impressions in both online and traditional Service centers. These centers provide customersadvertising, and attracted over 40,000 people to try with the information they need, when they needout their new account. it – all thanks to the convenience of communicating through online social networks.www.radian6.com1 888 6RADIAN (1 888 672-3426) Copyright © 2012 - Radian6
  3. 3. Financial ServicesTD’s commitment to providing exceptional service about during an already stressful situation is justreally shone through during Hurricane Irene. With another way both TD and their banking communitypower knocked out along the eastern seaboard, is benefiting from active social engagement.TD was able to connect with those affected bythe power outages, and direct them to the nearest Click here to find out how Salesforce Radian6 canavailable ATMs. Taking the extra step to ensure help the Financial Service industry get even morethat their customers had one less thing to worry value out of the social web.Interested in hearing what people are saying about your brand?If you’re looking to get started with Radian6, visit our website at, or contact oursales team via email or telephone 1 888 672 3426.Copyright ©2012 Radian6