Blog @beyondthearc.com

Taking card rewards programs to the next level

Shaw Taylor — Fri, 27 Jan 2012 23:24:47 +0000

Today, card issuers are focused on how they can innovate in their rewards programs to attract and retain customers. Many are looking to the successful Groupon Deals model of online discounts for inspiration (see Bank of America’s recent announcement about a BankAmeriDeals merchant discount program they’re testing).

Social media is emerging as a key vehicle to [...]

2012: Customer experience is the new brand

Gavin James — Tue, 10 Jan 2012 23:03:16 +0000

Co-author: Dana Roytenberg

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 [...]

Emerging Issues – Stay ahead of the curve with your Voice of the Customer program

Brandon Purcell — Wed, 04 Jan 2012 20:36:55 +0000

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 [...]

Social media – reflecting and planning for 2012

Shaw Taylor — Thu, 22 Dec 2011 01:17:43 +0000

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:

1,000,000+ RSVPs in 2011 for events promoted through LinkedIn, a professional social network. (Source: LinkedIn) 81% of small businesses now use social media, up [...]

How can you maximize engagement on your Facebook fan page?

Nina Katz — Fri, 18 Nov 2011 17:36:52 +0000

Insights from analyzing posts on American Express’ Facebook Wall

Build it and they will come. But is this true for fan pages? To find out about strategies to maximize engagement, we analyzed posts on the American Express Facebook Wall.

Fan pages are all about engagement and the way you use your page is critical to its success. [...]

How social media fueled Bank Transfer Day

Gavin James — Thu, 10 Nov 2011 00:38:15 +0000

Co-author: Brandon Purcell

Social media analytics of Twitter comments provide answers

By now, you’ve probably heard of Bank Transfer Day, a grassroots movement launched on Facebook® by a disgruntled Bank of America customer. The event, which prompted people to move their accounts from “big banks” to community banks and credit unions, generated a groundswell of social media [...]

How financial services organizations can leverage YouTube

Gavin James — Tue, 18 Oct 2011 02:06:30 +0000

As YouTube™ has gained overwhelming popularity as a video sharing platform for consumers, businesses have been quick to recognize the marketing potential. Reaching nearly 500 million users worldwide each month in 2011, YouTube now sees over 3 billion page views per day on their site alone; with hundreds of millions more videos watched on mobile [...]

How financial services organizations can leverage Facebook

Shaw Taylor — Mon, 17 Oct 2011 21:17:52 +0000

With over 800 million users as of October 2011, Facebook® has become one of the most powerful business tools for reaching new customers and building relationships. More than two billion posts are “liked” and commented on each day, and the average user –strongest in the 18-44 age group– connects to up to 80 community pages, [...]

The state of social media in financial services

Shaw Taylor — Sat, 15 Oct 2011 01:09:45 +0000

Retail banking is now witnessing a change similar to when banks began embracing the Internet in the 1990s. Back then, banks actively pursued the opportunity but their efforts lagged that of other industries and consumer demand.

Fast-forward to 2011, where social media is providing retail banking with a similar opportunity; some 750 million consumers spend nearly [...]

Transforming negative sentiment into a winning customer experience

Gavin James — Wed, 05 Oct 2011 19:07:50 +0000

When customers have a bad experience, they’re often more connected to how they FEEL about it, than the issue itself. That’s why you need to sharpen your focus on how people react to your business. Timely and effective communications can help you manage negative sentiment, rebuild trust, and promote loyalty.

If customers voice disgruntled opinions in [...]