2020 Foresight: Retail Banking and Social Media – Do the Ends Justify the Expense? Avail 20% discount on this report until 30th April 2014.
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2020 Foresight: Retail Banking and Social Media – Do the Ends Justify the Expense? Social media presents a valuable opportunity for retail banks. As internet access and Smartphone adoption increase, a growing number of internet users are becoming involved with social networking. Companies are changing their business models and product offerings to be able to cater to the ballooning market of social media users. Banks and other financial institutions are engaging customers with social media, which is shaping up as a strong channel to promote new schemes, identify customer needs and receive feedback. Although the use of social media remains risky territory for many banks, some have started to explore opportunities in this channel and have set out many best practices examples that can act as guiding principles for other banks and financial institutions. Banks are also investing in dedicated teams to handle user-generated content over social platforms. Although the sizes of these teams have so far been limited, they have proven to be effective brand-building tools; an active real-time response from a bank generates a positive sense among users that complaints and issues are being worked on. The teams have also helped banks to avoid fraudulent activity. Inquire about this report at http://marketreportsstore.com/purchase?rname=6775 . Call Now + 1 888 391 5441 | Email at sales@marketreportsstore.com
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2020 Foresight: Retail Banking and Social Media – Do the Ends Justify the Expense? Leading Social Networking Sites in India,June 2012
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2020 Foresight: Retail Banking and Social Media – Do the Ends Justify the Expense? A primary question plaguing the banking industry on the use of social media concerns return on investment (ROI). There are doubts over the credibility of social media as a key component of business models due to a lack of tools to measure quantifiable results. Surveys such as those conducted by cmosurvey.org also suggest that the potential benefits are more of qualitative nature, limiting the potential for short-term gain. Banks are therefore sceptical about investing in an unproven and non-established area. Moreover, with limited budget allocations for social media activities, many banks do not have frameworks to handle exposure to reputational risk from user-generated content. Banks have started to use various parameters such as unique visitor numbers, likes and followers to quantify the success of social media campaigns. Although these parameters do not necessarily reflect changes in profitability, negative and positive feedback, repeated visits and site conversion rates can indicate if, and how, a bank’s investment in social media is influencing customers. Get a detailed report at http://marketreportsstore.com/2020-foresight-retail-bankingand-social-media-do-the-ends-justify-the-expense-2/# . Call Now + 1 888 391 5441 | Email at sales@marketreportsstore.com
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2020 Foresight: Retail Banking and Social Media – Do the Ends Justify the Expense? Scope This report provides a comprehensive analysis of social media marketing strategies adopted by the retail banks across key emerging and developed markets. It covers key trends and provides analysis of various stages in the use of social media by retail banks, with each stage's potential to influence customers. It details various operational, technological and regulatory issues and challenges faced by retail banks while adopting social media marketing strategies. It covers industry best practices and an effective framework for the adoption of social media as a marketing tool. It provides case studies on social media marketing strategies implemented by various retail banks.
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2020 Foresight: Retail Banking and Social Media – Do the Ends Justify the Expense? Key highlights Social media marketing has gained increased focus, and retail banks are changing their business models and product offerings to cater to the ballooning market of social media users. Social media interactions provide companies with a platform to reach out to customers and deal with issues in real time, increasing both the quality of their service and levels of consumer trust. The increasing prevalence of the internet and widespread adoption of smartphones have fuelled social media expansion, with more than half the internet population now engaged in social networking. While Facebook, Twitter and LinkedIn have established themselves across the world, local social networks such as Vkontakte and Sina Weibo are more widely used in Russia and China. Although the use of social media remains risky territory for many banks, some have started to explore opportunities in this channel and have set out many best-practice examples that can act as guiding principles for other banks and financial institutions. There is increased focus on the use of analytical tools, capitalizing on expertise of thirdparty professionals, and use of social platforms to engage customers in real time to improve brand image. Call Now + 1 888 391 5441 | Email at sales@marketreportsstore.com
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2020 Foresight: Retail Banking and Social Media – Do the Ends Justify the Expense? About Us MarketReportsStore.com is an online market research reports library of 250,000+ indepth studies of over 5000 micro markets. Our database includes reports by leading publishers from across the globe. We provide 24/7 online and offline support service to our customers. RnR Market Research also offers company data, country profiles, trends, information and analysis on the sector of your interest. Visit Us @ http://marketreportsstore.com
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