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Banks on social media?

In Online marketing op 17-07-2015

The secret for top performing banks on social media? Be human.

It’s not surprising that many banks have steadily invested more time and dollars into their social media presence. However, it’s not just about having a social media presence, it’s about how brands are talking to their audience.

The banks that came out on top were those who leveraged their Facebook channel to humanize their brand, through immediacy of responses and a personal level of engagement with their audiences. Banks who aren’t willing to use their social accounts as a tool for their customers to interact with them, are missing a big part of the puzzle.

TD’s dominance on social media is largely due to their vigilant stance on responding to comments on their brand channels. From diffusing negative posts to thanking followers for their kind words, their moderation team is constantly keeping an eye out for any and all activity.

But as much as their strategy focused on vigilant responding, the quality of their responses also played a large part in helping them take the top spot amongst US banks.

This focus on substance is indicative through TD’s response quality score, which is based on the moderator’s response type (Is the moderator responding with a like or a comment? Are they responding by bringing new content to the conversation, such as a link or a video?) and response reception (Has the response engaged further discussion? Has it been liked, retweeted or shared?).

Outscoring the other 9 banks in the eValue response quality category, it is clear that TD not only responds to their customers in a timely manner but has created a social presence that humanizes their brand.

Through this research we have demonstrated that social media presence is not just about pushing information to your followers, it’s about engaging with your fans.

TD US creating a highly personal interaction with their community. The top ranking banks are all working to give their followers a personalized, human experience that offers solutions, not excuses, and goes beyond their core business of a financial institution.

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