Uploaded byShaydon Armstrong
PNC Bank Social Strategy
This document discusses how PNC Bank can use YouTube and Web 2.0 to build stronger relationships with customers. It introduces various education loan options from PNC and describes benefits to both customers and PNC from using YouTube instructional videos, including saving customers time by answering questions without phone holds, allowing immediate interaction, and reducing customer drop-outs while requiring little cost for PNC.
PNC Bank Social Strategy
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- 2. Introducing Web 2.0PNC Bank, we’d like you to meet YouTube. YouTube, allow us to introduce PNC Bank. Why should PNC use new media? Web 2.0 is not about following trends. For PNC, Web 2.0 is about building stronger relationships with customers who exist in an ever-more fragmented marketplace.
- 3. Education Loan SelectionsFederal Stafford Loan Federal Parent Loan for Undergraduate Students (PLUS) Federal Graduate PLUS Loan PNC Solution Loan for Undergraduate Students PNC Solution Loan for Graduate Students PNC Solution Loan for Continuing Education PNC Health and Medical Profession Loan
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- 5. Benefit for theCustomer Saving the customer time by not having sit on hold with customer service to answer questions/concerns. Offering an audio and visual representation of a “peer” who is easily relatable to. Allowing for immediate customer interaction and discussion which will help them answer their questions more effectively. This will benefit the customer by:
- 6. Benefit For PNCReducing consumer “Drop-outs” while requiring little to no capital investment. Creating a larger reach for the PNC brand – videos will be searchable through YouTube by custom keyword tags that are relevant to each instructional video. Allowing for the constant collection and monitoring of feedback via comments which will allow PNC to track customer usage and response. This will benefit the PNC by:
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Editor's Notes
- #3 PNC ‘s roots in commercial banking date back to the 1800s. Since its inception, PNC has grown to be one of the leading financial services organizations in the country. And they are consistently working to find opportunities to better serve their customers, their shareholders and the communities in which they work. YouTube was founded in February of 2005. YouTube is the leader in online video, and the premier destination to watch and share original videos worldwide through a Web experience. YouTube allows people to easily upload and share video clips on www.youtube.com and across the Internet through websites, mobile devices, blogs, and email.
- #4 PNC Banks offers 7 different loan types that offer a solution to every need, from undergraduates to parents, part-time students to future health and medical professionals. The choices can be daunting, especially to someone who has never applied for an educational loan. Which one do they choose? What’s the best option? Do they qualify? To help answer these questions we propose PNC produce instructional videos featuring a typical borrower(s) explaining in simple terms who the loan is for, what kind of information is going to be needed to complete the application and the particulars of the loan that differentiates it from the other options. These videos will be hosted on the YouTube website.
- #5 As potential borrowers proceed through the application process questions and concerns inevitably come up. Instead of having the applicant call a 1-800 number, we propose that a YouTube hosted video be embeded on each page that would cover the frequently asked questions or concerns that typically are brought up in regards to that part of the application.
- #6 The key question to ask when implementing any new business-building idea is how will it benefit my business? And how will it benefit my customer? The PNC customer will find great benefits from the embedded videos. First, this will save the customer time and effort by offering them immediate answers to simple questions – possibly reducing the rate of “drop-offs” from the loan process. Second, someone who understands their situation and has been through it before will be there to walk them through the process. This “peer” can explain important points about each loan and the application process both audibly and visually. Third, the video site will allow for customers to interact and answer each other's questions more effectively.
- #7 Video tags added by PNC when video is uploaded. Examples of tags could include student, loan, parent, private, Stafford, federal, undergraduate and graduate to name a few. Monitoring the comment section is especially important when/if customers are unhappy or unable to find the information they are looking for. The ability and willingness to address these circumstances are of the utmost importance in order to maintain the highest level of customer satisfaction. It is important to note that the posting of videos to aid in completing the application process should not be looked at as a sales activity. Rather it is a means for PNC Bank to open a two-way dialogue with current potential consumers.