One of the most popular questions we've fielded from our clients over the past twelve months has been, "How do we use Facebook and Twitter effectively?" While can provide many strategies that vary by client, a real-world example speaks volumes. Ally Bank provides just such an example.
Due to compliance regulations, fear and other factors unique to the financial industry, financial institutions are limited in the ways they can use non-secure channels to interact with customers. This doesn't mean though that the tools should be discarded entirely or just relegated to glorified P.R. and advertising channels.
One effective way to use social networking for banks is to engage customers in two way dialogue. For example, allowing customers to initiate service requests via Twitter provides a no-cost channel to at least get the ball rolling on resolution. While the intimate details can be communicated via telephone, the credit union rep can at least acknowledge the request via Twitter to let the customer know that someone is handling the request. This not only builds goodwill with the customer, but also all of the other people, such as the customer's followers, who are watching the interaction.
Simply opening and using the channel also exposes the company (or brand, if you prefer that term) to potential customers. The network effect increases exponentially the number of visitors who see the positive interactions occurring between the bank and its customers. Likewise, there may be some negative comments posted, but this provides an opportunity for the bank to (a) hear about these complaints, (b) correct the issue, if possible, and (c) build goodwill by acknowledging and publicly responding. The fact is that angry customers will vent to others and often this will take place online. By providing and participating in the channel (such as Twitter), the bank at least will have an opportunity to respond directly within the same channel, effectively getting the "last word."
Take a look at Ally Bank's Twitter page and you'll see examples of everything I've discussed above.
Good job, Ally Bank.
Feb 4, 2010 • by Jason Sherrill
