December 20, 2011
Friends, Schmiends – Making Social Media Count
Engage visitors in relevant conversation to bolster existing client relationships.
The top 35 banks on Facebook reach a mere 0.6% of their base, according to a study by Retail Bank International. “If you exclude the three top-performing banks, the average drops to one in every 525 customers – only 0.2% of their base.”
The numbers point to three interesting challenges financial institutions face in crafting their social media outreach. First, not everyone who “likes” your page is or will become a customer. Second, measuring your outreach effort is more complex than counting friends. Third, lenders are missing countless opportunities to engage valued audiences.Read full post...
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