The longer financial service companies opt out of using social media, the more they encourage their consumers to navigate elsewhere when seeking advice or considering new products and services.
By putting time and thought into a solid social media strategy, institutions can mend the gap between consumers and company and create an open dialogue with their customers.
In this free report, learn how to devise an effective social media strategy by starting with initiatives that focus on addressing customer issues, and putting brand reputation and complaint management practices first.
“70% of wealthy investors have reallocated investments, or began or altered relationships with investment providers, based on content found through social media.”— Carlisle & Gallagher Consulting Group
Building an Effective Social Strategy
Discover the three major themes to guide the creation of a successful social media strategy in the financial services industries:
Voice of the Customer
These initiatives range from basic monitoring and response, active survey and focus group research, to large-scale topic issues and satisfaction tracking.
Wisdom of the Crowd
These programs focus on building financial literacy, and applying crowd-based financial expertise. These have shown solid return on investment, which make them great candidates to garner internal sponsorship.
A few forward thinking institutions have begun to use social media to collaborate with customers on products and services. These programs have potential to deliver greater product innovation and faster cycle times than traditional approaches.
“Both the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) state that they see a value in social media as an educational tool for investors.”— Joanne Belby, Forbes