http://spurspectives.com/when-financial-services-met-social-media-%e2%80%94-a-tale-of-two-tweets/ Thoughts on the intersection of social media and 1:1 marketing Mon, 21 May 2012 16:52:30 +0000 http://wordpress.org/?v=2.5.1 http://spurspectives.com/when-financial-services-met-social-media-%e2%80%94-a-tale-of-two-tweets/#comment-9267 Paul Wed, 28 Apr 2010 11:57:25 +0000 http://spurspectives.com/?p=127#comment-9267 As an ex communications bod for 2 of the UK's largest financial services providers, and now CEO of a social media agency this post is especially interesting to me. We are talking currently to a financial services provider who operate a 'mutual' model, meaning value and rewards are returned to it's members (in the form of better rates usually), rather than it's share holders. 'Value' can take many guises, and clear communications, rapid and personal customer service and general industry insight all add value to a businesses proposition. Add to that the fact that advertising new rates, new products and new services becomes free across many social networks, and would help to recruit a younger generation of saver who could be with their chosen bank for a lifetime (admittedly there are regulatory factors to consider here), and it becomes a compelling proposition. My final point is around the AGM which is so important to a members focussed business: Many people can't be there in person but still have a huge interest in business direction. Quite often votes are cast, and opinions garnered at AGMs. Social networks such as Twitter could facilitate further participation and inclusion for these events (as in the examples of TED conferences), and again add further member value. As an ex communications bod for 2 of the UK’s largest financial services providers, and now CEO of a social media agency this post is especially interesting to me. We are talking currently to a financial services provider who operate a ‘mutual’ model, meaning value and rewards are returned to it’s members (in the form of better rates usually), rather than it’s share holders. ‘Value’ can take many guises, and clear communications, rapid and personal customer service and general industry insight all add value to a businesses proposition. Add to that the fact that advertising new rates, new products and new services becomes free across many social networks, and would help to recruit a younger generation of saver who could be with their chosen bank for a lifetime (admittedly there are regulatory factors to consider here), and it becomes a compelling proposition.
My final point is around the AGM which is so important to a members focussed business: Many people can’t be there in person but still have a huge interest in business direction. Quite often votes are cast, and opinions garnered at AGMs. Social networks such as Twitter could facilitate further participation and inclusion for these events (as in the examples of TED conferences), and again add further member value.

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