Social media: Reflecting and planning for 2012
By: Shaw Taylor
Where we are in 2011
Social media is providing retail banking with a highly valuable opportunity as millions of consumers are engaging on numerous public forums. Ponder these stats for a moment:
More and more, consumers expect businesses to listen, engage, and provide personal attention through social networks. Banks and credit unions have begun to adopt these practices to win new customers and deepen existing relationships.
How did you do in 2011?
As the year comes to a close, how did your social media efforts move forward in 2011? Did you start a Twitter account? Have you managed to run a successful community campaign on Facebook that raised brand awareness and attracted new fans? Maybe you’re more advanced and are beginning to measure your success by aligning social media to your core business objectives. Whatever the case, congratulations!
Plan to align social media with key banking objectives in 2012
In 2012, we’ll continue to see banks and other financial services institutions use social media to accelerate three key business objectives:
6 key trends to expect in 2012
Social media is quickly evolving into a mainstream requirement for many businesses as consumers increase their expectations about online engagement. In 2012, we’ll likely see a surge in banks and credit unions leveraging social networks to improve the customer experience, strengthen loyalty, and attract new business.
We hope you’ll be one of them ~ much success to you in 2012!
2012: Customer experience is the new brand
Lessons for financial institutions to increase brand impact
Most companies spend a lot of time defining their brand – the values they want people to associate with their business – and market to promote that perception. But these days, companies face challenges in controlling how their brand is perceived, because customers have the tools to broadcast their experiences with the business on a mass scale. A “brand” is now less about brand promises, and more about how companies deliver on those promises.
Understanding how to monitor customer experience
To strengthen a brand, you need to deliver the experience customers want. That starts with effective listening and engagement, combined with agility to keep up with changing expectations.
Increasing brand impact with customer experience insights
As people and technologies evolve, so does the customer experience. Your brand needs to evolve along with it. Effective analysis of feedback across all touch points gives you a clear picture of the customer experience, and guides you in engaging with customers in ways that strengthen your brand.
Here are a few examples of financial services companies doing it well:
Brand is about more than goodwill; it’s a valuable company asset that’s beginning to appear on balance sheets at significant valuations. And customer experience is about more than meeting basic needs; it’s about making people feel great: trust, ease, convenience, delight. Companies that deliver on their brand promises —by systematically aligning their customers’ experience with their brand vision— will be positioned to win for the long term.
Emerging Issues – Stay ahead of the curve with your Voice of the Customer program
By: Brandon Purcell
2011 was an important year for Voice of the Customer (VoC) programs in the financial services industry. Many banks and credit unions adopted new Voice of the Customer initiatives, and companies with existing VoC programs began to harness their full potential with new types of analyses. Some companies monitor customer feedback to determine the top customer experience pain points and service breaks. Other companies gauge their brands’ relative health by tracking sentiment on social media. However, there is one VoC strategy in particular that companies are beginning to adopt for its significance, swiftness, and overall necessity —the analysis of Emerging Issues.
What are Emerging Issues and why are they important?
How to implement an Emerging Issues analysis
Like a well-managed Voice of the Customer program, an effective Emerging Issues analysis relies on a combination of text analytics and business intelligence.
Start the analysis now!
Analyzing Emerging Issues on a regular basis allows you to:
Given all these benefits, why not start today?
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