Is Social Media a Channel?

I see and hear this a lot nowadays – in presentations and conversations. To be honest, apart from the questionable grammar of the question, I think the answer is pretty simple – NO! But scratch away at that simple answer and a more interesting question lies beneath… Why do we need to define channels?
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5 Tips for Selling Banking Products in Social Channels

Selling on social does not have to feel all slimy. Just make sure you coordinate your strategy and execute with buy-in throughout your organization – from management to front line employees.

Simply uttering the word “sales” in the context of social media often triggers a reaction akin to the face people make when a vacuum salesman knocks on their front door. Financial marketers fear that marketing their products and services in social channels will put them on par with used car salesmen.
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Making Social Count

The banking sector’s approach to social media thus far can broadly be described as ‘willing but watchful’. That’s understandable, considering the compliance risks of committing to a medium where regulatory boundaries are still fuzzy. The reputational backlash to some first-mover efforts also hasn’t helped.

But that picture is changing rather rapidly. A leading analyst predicts that almost a third of retail banking customers would have purchased social integrated products or services by end 2016. In three years, social media will become a significant channel of retail banking in Europe, which currently lags Asia-Pacific and the US in this area.
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Wie Online Shops Social Media nutzen

Wie nutzen Deutschlands Online-Shops die verschiedenen Social Media Kanäle? Auf welchen Plattformen sind sie vertreten? Welches sind die beliebtesten Online-Shops bei Facebook, Twitter & Co.? Welche Shops tweeten und posten am häufigsten? Diese und andere Fragen beantwortet eine aktuelle Studie.

Tweet or become obsolete – banks selling using social media

I had the opportunity to visit Beirut recently, where I met and addressed senior executives from various banks.  It became apparent that many banks are still seeking to understand how best to leverage social media.  Of course, this is a huge subject to cover in a single blog, so I will address one specific aspect of social media – micro blogging.  Micro blogging, by and large, means Twitter. Twitter is a hot topic among banks and financial institutions – especially since its recent stock market float.   Since it first came on to the scene back in March 2006, banks have wanted a piece of the micro-blogging action.  For a while, many marketers in banks were busy tweeting and hoping to sign up more followers.   But six years later, it is interesting to see how the use of these Twitter accounts has matured.
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Exploring Social Connectivity in Retail Banking

There is a shift in retail banking towards the use of social technologies to deliver value in mobile services for money Management.

With that, the pace of social technology adoption by companies has started to accelerate. Non-banks like Moven and Simple, as well as a number of European service providers have launched more “socially integrated” mobile banking applications in the past few years. However, most of these products (and the financial services industry as a whole) have only scratched the surface with building functionality into the customer experience to engage with customers and pinpoint the ROI of mobile Banking.
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10 Thesen zur Veränderung durch Digitalisierung und Social Media

Social Media sind eine der größten Quellen geschäftsrelevanter Daten und einer der wichtigsten Treiber der Digitalisierung. Sie bieten Unternehmen die Chance, das eigene Ergebnis nachhaltig zu verbessern.