23 September 2014
What does Twitter mean for banks?
Background:Social media gives customer feedback in the raw. Non-curated and completely unorchestrated, social media can provide financial firms with opportunity and threat. By way of example, one of the UK’s banks has deployed a twitter monitoring service that tracks the location of the tweeter and the sentiments shared. If the tweeter tweets that they are unhappy with one of the bank’s competitors, they immediately get a message to say: “Unhappy with your bank? You can switch to ours in less than 15 minutes and your nearest branch is 200 metres away”. That’s pretty clever when compared with other banks, such as Barclays who, during the LIBOR scandal, were receiving tweets where the most common words used were ‘disgust’, ‘loathe’ and ‘hate’. How can banks use this feedback mechanism to improve service and monitor customer feedback in the raw? Karen Williams shows us the way and social media in finance guru Christophe Langlois provides a response.
Karen Williams leads the team at Spectrum, and has learnt to think differently about how brands behave in the age of online and consumer-generated social media. With a marketing career that began long before the term ‘online buzz’ was coined, Karen has worked in-house at marketing director level, led strategy for online and offline programmes around the world and, as a result, appreciates only too well the pressure both to understand brand performance and optimise marketing budgets.
Christophe Langlois is a team leader, a published author and a social media practitioner. Since he launched VisibleBanking.com back in February 2007, Christophe established himself as one of the most trusted advisors to the worldwide financial services industry on the topics of social media, digital innovation and voice of the customer (both strategy and execution). Christophe is a regularly requested chairperson and keynote speaker at conferences. In the last seven years, he has contributed to over 140 events in 18 countries.