“Should the bank be listening to social media?” “Why should my credit union be involved with Twitter?” Many bank and credit union executives ask this question.
Perhaps you say it’s hard to believe that it is even a debate. Perhaps you wonder why anyone would even ask.
Back off. If you have it figured out and are doing it then fine. But by “doing it” I mean you are listening to your customers, solving customer service problems and actively investing and garnering profit from your social tools, well then ok. Act all flabbergasted.
“Should the bank be listening to social media?” “Why should my credit union be involved with Twitter?” Many bank and credit union executives ask this question.
Perhaps you say it’s hard to believe that it is even a debate. Perhaps you wonder why anyone would even ask.
Back off. If you have it figured out and are doing it then fine. But by “doing it” I mean you are listening to your customers, solving customer service problems and actively investing and garnering profit from your social tools, well then ok. Act all flabbergasted.
But what I see more often than not is the people who act incredulous that others are so out of touch; they are not “doing it” either. They might have a toe in the water…maybe.
So what would I offer a banker who asks? Facts. Well maybe even just one set of facts:
68% of all American are using social media. “Yeah but they are all really young and have no net worth or value to the bank right?” you ask. Well, in the 45-55 year old segment 55% of them have a social media profile or site and that is the fastest growing segment on the web.
Still not have your attention? OK, what about this. 32% of those online 45-55 year old adults have posted a comment or request for help online…and on average they expect an answer or reply within 30 minutes.
I’d say you better start thinking about these things. Maybe never leave your desk for lunch again!
Financial institutions need to be engaged. Small or large. Get engaged. You would never dream of not answering the phone, but this is exactly what you are doing in the eyes of these online customers.
