Social Media for the Banking Business: A Game Changer?
Few recent developments have caused bankers more sleepless nights than has the explosion of social media and itspotential impact on financial service providers. Everyone seems to understand that social media could change the relationships that banks have with their customers, but few executives agree on how to respond to this phenomenon. Few even agree on whether social media is a positive business opportunity for financial services or a trendy development that should be carefully monitored, but without complete commitment.
In this Strategic Commentary entitled, “Social Media for the Banking Business: A Game Changer?” Speer & Associates, Inc. (S&A) takes a look at social media for the banking industry, focusing on its commercial development, its role as a communications vehicle, its fit within more traditional delivery channels, its marketing potential, pitfalls to be avoided, and where this new groundswell may take us.
