Social Media Can Help Banks Interact with Clients Worldwide

March 16, 2012 — 1,176 views  
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Social media in banking can assist financial institutions across the globe. Bankers may be able to use these websites to enhance their international presence and provide top-of-the-line customer assistance.

Many people use Facebook and Twitter to interact with friends and family, but these social networks can just as easily provide quick and easy access to customers. Financial institutions can set up a Facebook fan page or a Twitter feed to offer incentives to clients. For example, a bank can announce new checking account options available to businesses, and can offer a cash bonus or complimentary prize to people who subscribe to its Facebook page or follow it on Twitter. Doing so may allow banks to attract new clients.

In addition, social media allows financial institutions to improve client interaction. Blogs and social networking sites can be used to collect feedback from clients. This enhances a bank's relationship with consumers because it allows customers to reach out to financial institutions in an open forum.

People no longer need to worry about waiting in long lines or making phone calls to receive assistance with their banking. Instead, clients can reach out at any time with social media.