A Look at Connected Banking Consumers

Banking isn’t what it used to be. While the general premise hasn’t changed much over time, the ways people manage their money are changing with the times. Digital, for example, is becoming a major avenue for many, and a significant portion of Americans actually prefer to handle their banking away from branches and tellers, according to Nielsen research. In fact, people who bank away from physical branches make up a significant portion of the “Connected” segment of the population and prefer to handle their finances via mobile devices or call centers.
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Social Media Coaching: How Do You Motivate Your Team?

Every spring, people around the world focus on the NCAA basketball tournament to see how 64 teams stack up against all the hype. For many of us, this isn’t that different than the struggles we face managing salespeople. When we add a new salesperson to our team, we may not put them into a bracket, but we rank and value their strengths, weaknesses, potential and risk Reputation.
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7 Social Media Security Tips To Protect Your Business

Your employee’s online life could open your business to some serious dangers.

Many small businesses recognize the benefits of having a social media presence for customer service and long-term marketing purposes. However, many are slow to recognize social media’s security issues and how employees’ own social presence can add to the company’s security issues.
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There’s one thing worse than being talked about

Or is there?

Well documented reports have appeared in the Press around the world, regarding the negative impact experienced by banks and other commercial companies, when their reputation is damaged through Social Media (Twitter, Facebook and the like) attention.

Previously, any complaint or experience of perceived poor service received by a customer, would be handled on a singular basis. If communication was passed on by that individual regarding the shortcomings of a company, then it was limited to a relatively small number of the customer’s family, friends and acquaintances.
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Unfriendly: Customers Don’t ‘Like’ Banks on Social Media

Sorry bankers, your customers do not want to be your Facebook friends, or follow you on Twitter, or see your Pinterest or Instagram pictures.

According to findings released yesterday by Carlisle & Gallagher Consulting Group, the consultancy, fully 87% of customers find banks’ use of social media “annoying, boring or unhelpful.” The findings show negative attitudes toward interacting with banks on social media for problem-solving, and show that customers doubt the overall effectiveness of banks’ use of social media.
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Generating ‘Engagement’ on Facebook Is Just The Beginning

Bank CEO: “Why is there a puppy on our Facebook page?”

Social Media Community Manager: “Because puppies get great engagement.”

Bank leadership:Huh???”

While this exchanges sounds farcical, it’s not that big a stretch from actual conversations occurring at banks and credit unions everywhere. Social media managers tend to believe unequivocally that “engagement is good,” which might lead them to publish somewhat random or irrelevant material on their institutions’ Facebook pages.
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Banks Are Boring on Social Media

A majority of consumers believe that banks’ use of social media is ineffective, according to findings from a poll released today by Carlisle & Gallagher Consulting Group.

The firm polled 1,002 U.S. consumers online in an attempt to to uncover the important drivers for financial institutions to be successful in managing customer complaints and social media preparedness. Fifty-two percent of those who responded said they believe the use of social media by banks is ineffective, while 87 percent reported banks are “annoying, boring or unhelpful” on social media.
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Banking and Social Media Communications: Boom or Bust?

This research study asks if consumers really want to “join the conversation” with banks? Are they even “listening?” Has the financial industry’s rush to social media paid off? Or not?

In the last five years, banks and credit unions have increasingly relied on social media as a communications channel. Most if not all of the largest U.S. banks have a presence on one or more of the top social media sites, and they are using this channel to communicate product changes, service enhancements and other happenings that are of relevance to customers.
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Nordea’s use of Facebook and social media to engage their customer

I really enjoyed the presentations in Oslo, particularly the case studies by Nordea and ValYou.

Nordea spoke about their experiences with social media usage.  This, in itself, is fascinating as just a few years ago no bank spoke about social media in finance.  Now, I am building case studies about how banks see this as both a customer service channel, and a platform for full deposit account usage (mBank and ICICI).

But there is still quite a spectrum of banking from those who ban the use of social media in the office ot those who embrace it for communications.
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