"how do you think institutions such as banks can make use of social media"
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. 1.community buildings: Banks are not usually known for building warm and fuzzy communities around their products and services. When we think of banks, we often think of impersonal bankers in pinstriped suits denying customers their request for a car loan or a mortgage.
2.PRODUCT RESEARCH: Whether you’re crowd sourcing to find out what customers think of your services or using social media as one tool in your arsenal to enlist customers to help develop new products, a social network is an undeniably powerful research and development resource.
3. Customer Service:Social media has become a great customer service tool across many industries and banking is no exception. However, not all banks are so proactive. A study done by the American Bankers Association found that four out of ten banks polled said that they avoid discussing specific products and services in their social media efforts.
4. Marketing & Promotion:Banks that are using social media to brand themselves or to market a specific product or service have found success by integrating social tools into their existing campaigns or creating new ones that capitalize on the spirit of the community.
5. Transparency:The current financial crisis has led many customers to distrust banks, which is one reason why many banks are now turning to social media as a way to become more transparent to customers and build trust.
2.PRODUCT RESEARCH: Whether you’re crowd sourcing to find out what customers think of your services or using social media as one tool in your arsenal to enlist customers to help develop new products, a social network is an undeniably powerful research and development resource.
3. Customer Service:Social media has become a great customer service tool across many industries and banking is no exception. However, not all banks are so proactive. A study done by the American Bankers Association found that four out of ten banks polled said that they avoid discussing specific products and services in their social media efforts.
4. Marketing & Promotion:Banks that are using social media to brand themselves or to market a specific product or service have found success by integrating social tools into their existing campaigns or creating new ones that capitalize on the spirit of the community.
5. Transparency:The current financial crisis has led many customers to distrust banks, which is one reason why many banks are now turning to social media as a way to become more transparent to customers and build trust.
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