What Banks need to do in social media to engage with customers

Banks have it tough on social media. For that reason banks are investing in their social media presence and now they are using different strategies in creating impactful content to engage with their customers. However, it’s not just about having a social media presence, it’s about how brands are talking to their audience, humanizing their brand through immediacy of responses and a personal level of engagement with their audiences.

Customer service: Be focused on vigilant responding to comments on your brand channel. Diffuse negative posts or unpleasant comments, help customers get the information they need, thank followers for their kind words, have a moderation team constantly keeping an eye out for any and all activity. A bank dominating social media with this strategy in U.S. is TD Bank. Their team is quick to respond to any customer message, whether it’s a complimentary post or a situation that requires a more in-depth response. The quality of the responses also played a large part, 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?.

Humanizes your brand: Personalize your responses signing your name along with your replies that are written in a friendly tone. Real human connection goes a long way in making your customers happy.

Beyond the topic of banking and finance: Instead of merely post about banking and financial content on the social feed, post about sports events, initiatives and causes you are involved. Highlight the banks’ involvement in grassroots efforts to highlight small businesses and help the local community. It will show you understand your local consumers and they will connect the brand on a more personalized level. Heartwarming content and community based programs that engaged their audience.

Engaging content: create impactful content that engage your audiences around events they were already very much interested in. For example, during holidays encourage customers to use their credit card while shopping overseas or provided a link to branch hour or suggest an online option for loan payments.

Giving your followers a personalized, human experience that offers solutions, not excuses, and goes beyond their core business of a financial institution will propels your engagement with your customers on social media. 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.