By 2013, 67% of all Internet users will usesocial media
90% of 18-29-year olds sleep with theirsmart phones
B2B Marketers spent $11 million onsocial marketing in 2009.This is expected to increase to $54 million in 2014.
In Charlotte there are 1.1 million Facebookusers who are over 18 and live within a 50 mileradius.
It’s not just for kids any more. Fastest growing segment: Women over 55 years of ageAlmost half of the country is 26 years and older. 25% are over 35.
40% of B2B companies devote 1 or morefull-time employees to Social MediaMarketingCompared to 54% of B2C companies.
Social Media Sites• Facebook• twitter• YouTube• LinkedIn• Foursquare• About 2,000 others
Amplicate, a social media analytics company, released a reportthat suggests that banks need to develop thick skin, reallythick skin, in the new world dominated by social media.The Amplicate study revealed that 83% of opinions aboutmajor banks in the US and Europe were negative over thepast 12 months.
Social Business: 4 Ways Social Media Is Transforming Banking 1) Social business is critical for forging new connections, as well as elevating the brand. 2) Social business is a pivotal outlet for building communities. 3) Social business can be an invaluable tool for product research and education. 4) Social business can provide deeper insights into bank customers. Source: http://www.banktech.com/articles/231900037
“Being a Mobank customer is very much like being part of the ‘in group,’” said Grant Burcham, the bank’s President and CEO.“Our customers see each other in business, civic and social settings. Those networking opportunities are a great beneﬁt of beinga Mobank customer. As they embraced social networking, they expected to see us there.”
Social media was a big part of formulating a new and popular type of checking account at 1st Mariner Bank. Thecompany’s marketing department used social media tools to take a look at their customer’s needs and used that to buildnew products and services. The bank was able to use social communications tools and online surveys to develop a ﬁnanciallife cycle for their customers and identify that many people today establish a long lasting relationship with a bank in theirlate teens.They also found that parents are a major inﬂuence in the decision of which bank people ultimately decide to use. At thetime, they didn’t have an attractive account to market to both parents and 18-25 year olds. With more research usingsocial tools, they identiﬁed which features and beneﬁts were important and which combination would give them acompetitive edge.
As Wachovia is absorbed into parent company Wells Fargo, the legacy division at the bank still continues. Tim Collins, the SVPof Experiential Marketing, uses social media not only to service Wachovia customers but to answer questions about the status ofthe merger between the two banks.The bank had been involved with listening on social media for years before they decided to open a Twitter account, which theyuse to help customers with questions related to checking products and online banking. Wachovia has now fully embraced socialmedia as a way to communicate with customers, even going so far as to create a special set of hashtags for the bank on Twitter.
Jeff J. Gahnz,Vice President of Marketing and Public Relations at Nicolet National Bank realized that as a small communitybank, their competition could afford to spend his entire marketing budget in one week-long campaign. But as he sat in ameeting and listened to the CEO of the bank explain something extremely complex in a matter of ﬁve minutes, he wonderedhow many people would want to be in that room to hear what he said. They realized that ideas they talked about in meetingscould be shared with others using social media channels, and it would be a way to create value for customers that requiredonly a small investment. The bank shares ideas and information through its blogs and audio and video podcasts on a communityhub called The Vault.