VRL: Gauging the Effectiveness of Social Media in Financial Services

VRL argues the relevance of social media in the Financial Services market and reviews methods for measuring ROI

Top financial and professional services information provider VRL Financial News has released an essential industry report that explores the impact of social media in financial services, and at the same time presents a roadmap for developing a pragmatic social media strategy.

Social media has changed the way consumers interact with businesses, and financial services organisations cannot afford to ignore this: there are 101 million LinkedIn users worldwide, 500 million active Facebook users, and more than 25 million Twitter users. Large non-financial companies like Apple, eBay and Facebook Spare Change already occupy a highly relevant intermediary position, and financial services organisations need to learn from their customer engagement techniques. However, social media also presents a minefield of risks for this sector, as financial information must comply with strict rules and regulations from local regulators, and the tangible benefits can be difficult to measure.

In this report, writer Evelyne Letawe, a specialist in media and communications platforms, provides a business case for investment in social media for financial services businesses. Though it was not developed to facilitate business, social media can be an effective investment, and a foil to the current trend of disintermediation. As acknowledged expert on customer experience and retail channel distribution strategy Brett King summarises: “The former communication and marketing paradigm in the financial services industry was that customers needed the bank more than the bank needed them…This epoch of control on the customer is now over.”

Using relevant case studies, the key topics covered in the report include:

• Estimating the ROI of a social media strategy
• Engaging with customers by using the most appropriate social media platforms
• Minimising the risks associated with social media

For further details on how to purchase a copy of the report, special offers or for more information please call Jeannie Lam on +44(0)20-7563-5605 or by email info@vrlfinancialnews.com

VRL industry reports provide the analytical intelligence needed to make better-informed business decisions. Reviewing the most pressing issues and trends impacting on the world of finance, VRL reports cover a broad range of topics and are compiled by analysts who are specialists in their field.

For more details please visit:

http://www.vrl-financial-news.com/reports.

Contacts

C8 Consulting Ltd
Cathy O’Neill
01189-001135
cathy@c8consulting.co.uk