ComputerWeekly released a detailed list of the top 10 banks on Twitter and what made them valuable to the end consumer. I made it a point to go through each of the bank’s Twitter pages and figure out (at least) one thing they had in common. This one thing is based around the overall usage of the Twitter tool and how the banks communicate with current and potential clients. What was the overall theme for most of the Twitter bank pages?
Customer support and communication. To be more specific: customer centric.
The majority of the top 10 banks on Twitter use the tool to support customers with Q&A, idea generation, and live feedback on account information. From my viewpoint… the top banks are actually using Twitter in the right way when it comes to communication. Customer support and service is a huge pull when viewing Twitter as a business tool (whether you are a bank… or not). What other points did I take away from the bank pages?
1. Communication is Key. Do not broadcast a message. If you are wanting to use Twitter for another RSS feed to share PR releases and company news, you have the wrong idea.
2. Listen to Customers and then Respond. It is important to take personal time and invest it in the use of the tool. If you are communicating with your clients it is important to reply back to their inquiries. The same concept applies to a missed phone call or email. Put major emphasis on replying back to questions and comments. Do not let any tweet go unanswered.
3. Every Follower is Important on Twitter. Let me rephrase that… Every follower is important on Twitter if they are REAL and actually MATTER. A Twitter user being real or fake is pretty easy to measure over the long run. We do not want to be communicating with spam accounts. You can tell is a user matters if they are actually sharing content and communicating a universal message to their followers. If they have something to be excited about (new content)… help them by sharing that content.
Take the top 10 banks examples and use Twitter effectively.. both for customer support and communication. Remember that social media is a two-way strategy… listen, speak, and then repeat.
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There have been some very good examples of banking institutions embracing social media. From my experience, a lot have been the smaller banks and credit unions – although BofA_Help and Wells Fargo (blogs) are two "big banks" doing it well.
Think it's ideal from right smaller or community bank – after all, don't those banks preach relationships?
Working for a Top 10 U.S. bank myself, I am particularly interested to see how SM evolves within financial institutions.