Social media has changed the landscape of banking significantly within the last decade. This topic is obviously not something brand new to the industry. It is safe to say that most of the industry understands what social media tools could potentially do for its business.
In general, what banks know about social media listening tools are typically true across the field. The banking industry can improve the way it detects and handles crisis' (or deflecting negative feedback online), customer service, monitor competitors' brand presence, and measure the effectiveness of different campaigns and product offerings.
The capabilities listed above are all fantastic ways banks can use social media listening for their business. However, there is one capability that doesn't get talked about enough in the social media sphere for banking, and that'd studying consumer banking behaviors through social media.
There is a plethora of conversations online around finance and banking, and banks have so much to learn and gain from the public.
In EY’s Consumer Banking Survey (based on 55,000 consumer’s feedback worldwide), consumers revealed that traditional banks are under threat and their relevance with its customers is waning.
This means that traditional banks need to rethink — and in some cases even revolutionize their approach to consumer relationships.
In our latest report, we explore how banking behaviors can be tracked, discovered, and implemented into brand marketing and strategies.
What's uncovered in the report:
- How conversations about personal checkings and savings have changed over nearly 10 years
- The differences between how men and women discuss their finances
- How banks can incorporate humor into their campaigns
- How conversations about financial struggles have changed overtime
- What social channels banks should be more visible in
- What are people more likely to save up for nowadays
- Why Milllennials are less likely to buy a home
Download your 20-page copy below: