Why should Banks use social media?

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why should banks consider social media marketing as a tool to market themselves in web 2.0 era?

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Why should Banks use social media?

  1. 1. Why should Banks use Social Media?<br />Hassan Khan<br />Marketing Consultant<br />
  2. 2. “As the Web 2.0 agedawns, banksmustwake up tothefactthatthesuccessfulcompanies of thefuturewillnothavecustomers, theywillhaveparticipants, and thatratherthanhaving a business, theywillhave a community”<br />Chris Skinner<br />http://twitter.com/Chris_Skinner<br />
  3. 3. <ul><li>Monitor their brand identity
  4. 4. Launch innovative services
  5. 5. Test and get feedbacks on new products
  6. 6. Lead Generation
  7. 7. Develop conversations and build trust
  8. 8. Increase web visits and conversions
  9. 9. Share their brand via network friends (viral)
  10. 10. Product/Services alerts via tweets/ messages</li></ul>How can Social Media Help Banks?<br />
  11. 11. BANKING<br />IS ABOUT<br />RELATIONSHIPS<br />WITH CUSTOMERS<br />
  12. 12. BANKING<br />IS ABOUT<br />RELATIONSHIPS<br />WITH CUSTOMERS<br />TRANSPARENCY<br />
  13. 13. BANKING<br />IS ABOUT<br />RELATIONSHIPS<br />WITH CUSTOMERS<br />INFORMATION<br />TRANSPARENCY<br />
  14. 14. BANKING<br />IS ABOUT<br />RELATIONSHIPS<br />WITH CUSTOMERS<br />COMMUNITY<br />INFORMATION<br />TRANSPARENCY<br />
  15. 15. SOCIAL MEDIA <br />IS ABOUT<br />BULDINGRELATIONSHIPS<br />
  16. 16. SOCIAL MEDIA <br />IS ABOUT<br />BULDINGRELATIONSHIPS<br />LISTENING<br />
  17. 17. SOCIAL MEDIA <br />IS ABOUT<br />BULDINGRELATIONSHIPS<br />ENGAGING<br />LISTENING<br />
  18. 18. SOCIAL MEDIA <br />IS ABOUT<br />BULDINGRELATIONSHIPS<br />CONNECTING<br />ENGAGING<br />LISTENING<br />
  19. 19. COMMUNITY<br />INFORMATION<br />TRANSPARENCY<br />CONNECTING<br />ENGAGING<br />LISTENING<br />
  20. 20. COMMUNITY<br />INFORMATION<br />TRANSPARENCY<br />BUILD RELATIONSHIPS<br />CONNECTING<br />ENGAGING<br />LISTENING<br />
  21. 21. WHICH BANK<br />IN OUR COUNTRY<br />WILL BE THE FIRST<br />TO LEVERAGE SOCIAL MEDIA<br />TO BUILD BETTER<br />COMMUNITY<br />RELATIONSHIPS?<br />
  22. 22. RIGHT NOW, THERE IS A HUGE<br />OPPORTUNITY<br />FOR YOUR BANK TO<br />GAIN MARKET SHARE BY<br />DIFFERENCIATING<br />FROM THE COMPETITION.<br />
  23. 23. HOW?<br />
  24. 24. BY BUILDING BETTER<br />COMMUNITY RELATIONSHIPS<br />THROUGH SOCIAL MEDIA!<br />
  25. 25. TRANSPARENCY<br />The current financial crisis <br />has led many customers to<br />distrust banks, <br />which is one reason why many banks are now turning to<br />social media <br />as a way to become <br />more transparent<br />and build trust. <br />LISTENING<br />
  26. 26. Wachovia bank had been involved with listening on social media for years before they decided to open a Twitter account, which they use to help customers with questions related to checking products and online banking.<br />
  27. 27. INFORMATION<br />Find out what customers think <br />or use social media as<br />one tool to encourage<br />customers to help<br />develop new products<br />ENGAGING<br />
  28. 28. Social media was a big part of formulating a new and popular type of checking account at 1st Mariner Bank. The company’s marketing department used social media tools to take a look at their customer’s needs and used that to build new products and services.<br />
  29. 29. COMMUNITY<br />Community building <br />is something that <br />banks should be doing more<br />because many of the most important touch points <br />from attending college, <br />to buying our first cars <br />and building a home, <br />to starting a business <br />and saving for retirement <br />all involve a relationship<br />with a bank.<br />CONNECTING<br />
  30. 30. Missouri Bank is not using social media to “sell” anything, but instead utilize social media as a way to build upon the community-minded philosophy that they have spent years developing.<br />
  31. 31. Thank you!<br />E: mail@hassankhan.pk<br />M: +92 344 9400400<br />http://www.twitter.com/hassank<br />http://www.hassankhan.pk<br />

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