Social Media Marketing Case Studies
Social media and financial services – the best examples
Traditionally, the financial sector led technological innovation and used to invest huge sums in systems and software. Looking at the rate of engagement of social media and multi-channel approaches It seems that this industry is not embracing social media marketing (see chart below) – it was too hard by the credit crisis? It Clearly there is room for improvement when it comes to socially engage with customers and building community since many participants this market are viewed rather monolithic and imposing, as opposed to care and participation. Caused by the economic crisis in particular banks address Also trust issues that likely to accelerate a change to an opening up of social media in the future.
Social Media Industry commitment
However, there are successful examples of how regulated industries, as the financial sector can make social media and below are many such sites in the industry or the worldwide web.
Continued participation Social Media
For some great insights and an overview of adoption have a look at Visible Banking. It's not very pleasing to the eye, but is full of articles, interviews and a directory of initiatives social media business financial services. An example of his shows Twitter is here:
Visible Banking Twitter Watch No. 15 – November 2009: 877 accounts / 46 countries / 331 351 + Followers / 9960 Lists – Top 10s cooperative financial institutions / credit insurance
Communities / Networks
HSBC seems to be the player with the most innovative HSBC's Business Network and the "Little Black Book" microsite for the first direct customers to the recommendations of changes. The HSBC Business Network is an online community for customers and non-customers, allowing businesses and entrepreneurs to share information with and obtain information with their peers. It is a good example of brands using the online communities to provide a service that compliments and enhances its existing product portfolio.
The Little Black Book a subsidiary of HSBC is a community where users exchange information not related to finance. But especially live.firstdirect page is an impressive pace for the opening of social media and authenticity. It monitors and displays live customer and feelings customers not about the brand. It is a courageous step in an industry where customer satisfaction balanced against the management of profitable customers has proved difficult to say the least. He said currently 74% of all living words are positive, the hope remains that this information is not filtered ….
Issues of compliance and regulation are among the main reasons for the financial services industry is turning away from the opening and responsibility of social media marketing. ComplianceOnline is the exploitation of regulatory compliance solutions provider in the B2B area. Operating in a highly fragmented market and hyper-competitive site has over 2 million unique visitors per year and 500,000 registered users. By actively engaging users in a two-way dialogue of the company behind the community MetricStream uses social media to create awareness and ultimately generate qualified prospects who represent 30% of their total sales led.
Mobile
Another financial services company, namely Nationwide Insurance offers a free, business brand "Accident Toolkit iPhone application advise what to do after an accident. The application can call the emergency services, collection and exchange of information crash (even using the camera of the iPhone and GPS), communication with a towing service, and (For clients nationwide) to start the process of compensation, among other things. It is indeed social media.
Crowd-sourcing and peer-to-Peer
Peer-to-peer credit makes perfect sense that there are enough people who need to borrow money and those who want to lend. They are better to deal directly with them rather than using banks or other intermediaries. Everyone, for a price of course. Take a look at Prosper.com and Zopa.com to learn more about this great idea.
If you are still unsatisfied dreams us to make the social approach smartypig savings. Its a bit of a social network crowd of origin where, if you share your savings goals (dreams), the Friends and family can provide financial support. You can also add your custom widgets SmartyPig your Facebook or MySpace, blog or website. Not forgetting you can start your own SmartyPig Friends Network. Cute.
Often cited Bank of America account Twitter is a good example how Twitter can be used to help, listen and learn from customers, even in a sensitive environment, such as sharing information spending on social media.
Twitter Other applications of note are based StockTwits and AdviserTweets. More oriented professionals financial rather than customers, they are innovative approaches to how social media can be used by asset managers or advisors.
Not so good examples
Just two examples I came across today. This is the Deutsche Bank and UBS facebook fanpage. I wonder why and how they managed to get 1700 users (by the time of writing). There must be a reason why they do not put all the content on their pages. Is there regulatory reasons? Maybe someone can shed light on this issue.
For more inspiration, please to visit Richard Buettner Internet / Social Media Consultant
About the Author
I am a Social Media / Internet Marketing consultant and trainer who helps companies to engage with their online customers through a compelling internet marketing, social media or personalisation strategy. I have been helping big companies as well as small businesses to strategise/productise ideas – develop online strategies – and enable communication and growth for 15 years.
Social Media Marketing Case Studies
