Banks Can’t Let ROI, Regulatory Concerns Inhibit Social Customer Experience

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Regulated to a far greater extent than consumer brands like Nike and Coca-Cola, banking and financial services firms have long possessed a weariness towards social media. They know they need to pursue avenues for building their brands and customer relationships, but they also recognize that they cannot open windows to their business the way others can.

And when one adds in the fact that positive proof on social’s ability to generate financial ROI remains elusive, it is no surprise why some financial firms are hesitating to pull the trigger on comprehensive social customer experience strategies.

Though he recognizes it is a learning process with no one-size-fits-all approach, Rob Gardner of Redington has encountered phenomenal success opportunities for financial businesses in social, and he joins the Customer Management IQ podcast to exclusively discuss why customer management professionals in the industry need to seize them. These opportunities do not erase the need to account for privacy and regulatory concerns, but they should assure financial professionals do not turn their eyes completely blind to social.

Gardner, also a speaker at our Customer Experience Management in Banking & Financial Services conference, September 18-20 in London, answers key questions:

• The opportunities that exist for financial firms in social. What kind of success is being realized?
• Common mistakes and pitfalls associated with social customer experience strategies.
• How to get your organization behind the right social strategy? How do you manage their expectations of success?