Making Social Media Work for Banks
How banks can use educational content to establish customer dialogues that will build image, create opportunities for cross selling, and reduce marketing costs
Every bank is aware of the fast growing popularity of social media sites such as Facebook and Twitter. Hundreds of banks have jumped in with the idea that they will get started and see where it goes, not wanting to be a late comer to the party. But there is still confusion as to what banks should be saying to their customers. Other banks have stayed away, oftentimes citing compliance issues. Consulting companies and social media agencies have sprung up overnight offering help to banks trying to figure it out. For the most part they have urged their clients to articulate a social media strategy as an extension of a sound marketing strategy. They tend to be a combination of defense and offense.
