Really anyone with an online presence needs to be monitoring the social media channels. And banks have marketing departments that are promoting their online offerings, so it only stands to reason…
This article, Bank Regulators Should Encourage the Use of Social Media as a Risk Management Tool outlines how the banking environment needs to participate in social networks online.
Jesse Torres’ quote underlines why financial institutions should be listening to the conversations online of their customers:
“Today, disgruntled consumers take their case to the Internet through social media tools in an effort to gain support. Causes that are successful can severely damage a bank’s reputation, affecting the company’s bottom line.”
Take that a step further and listen to the conversations of their competitors to get a step ahead!
Jesse Torres also has a free ebook which is very good. He recommends integrating the social media efforts with existing marketing strategies. And, he highlights the importance of having a community manager for interacting directly with the online community. His ebook is a good read no matter your business niche.
The Community Banker’s Guide to Social Network Marketing is available as a free download at http://www.tinyurl.com/cbgsnm.