My bank must be social

17-06-16 11:06 | Digital banking | The Digital Hub

As a customer in the 21st century I expect flexibility, accessibility but most of all speed from my providers. I demand it from my streaming service as well as the utility company. Digital transformation and the dawn of social media put me in the driver’s seat. When things don’t work seamlessly I get frustrated and am vocal about my negative experience on the company’s social media channel for everyone to see. That’s right, interaction with companies has become a spectator sport.

But what do I really want from my bank on social media?

  1. Active presence on the social channels where I am
  2. Quick response and resolution time
  3. Inspiration on how I can improve my finances and what I can do better

You may reflect that I didn’t add “security” to this list. That’s right. An average customer believes that it’s the bank’s responsibility.

So how can banks harness social media?

  • Customer service can help resolve issues without delays offloading telephone lines and increasing customer satisfaction
  • The communications departments should use social media to start conversations, listen to customers and share insight about banks role in society
  • Risk & Compliance can utilize social as a platform to educate customers about responsible behaviours online and regulatory issues
  • Human Resources can gain access to an enormous pool of top talent
  • Product development teams can gather invaluable insight on customers’ needs as new banking solutions are being developed
  • Marketing campaigns can focus on content desired by the audience
  • Brands can empower the employees  to show their pride about working at the company 

Social media is not going anywhere any time soon. If anything, it is going to improve feedback loops between bank and customer. It’s going to help streamline customer interactions and if necessary, move the customer from a social channel to a secure environment. The customer will be able to get help online regardless of the channel they decide to use.  

/ Anna Kadric, Nordic Head of Social Media

Follow me on Twitter: @annakadric

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