Banks Are Your Friend?

I’ve recently blogged about how consumers are starting to expect interactions with brands online and if businesses aren’t doing so, they’re missing a huge opportunity to leverage advocates, drive sales and increase favorability. But how about banks? Working in the Interactive Department of a bank, I’m obviously a huge proponent of it, but how do others feel?

It’s clear there is a fine line between a bank being a resource or your ‘friend’ on Facebook. DO people even want to be friends with their bank?

I believe it’s all in the strategy behind the engagement. Any successful social media campaign involves ease of access and making sure you are communicating with your target audience where they are already interacting. This includes mobile phones – since Facebook and Twitter usage on mobile devices has increased by over 100% in the last year, according to ComScore.

Mashable has a great article on different trends seen in how banks are leveraging the social space. Predominantly, they are using it for:

  1. Community Building
  2. Product Research
  3. Customer Service
  4. Marketing & Promotion (think the incredible success of Chase Community Giving)
  5. Transparency

Ultimately, I think customers are looking for all of the above from their bank, but it’s all in the matter of how it’s presented.

As a consumer, would you leverage platforms offered by your bank for these five things? Do you want to feel part of a ‘banking community’? Do you want to be able to reach out to your bank on Twitter for customer service issues rather than waiting on the phone? Leave your opinions in the comments.

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