How should banks use social media? Italian banks innovate


Customer communications are increasing through media platforms, and banks over the world haven’t fully tapped into this segment yet, except for Italian banks. How should banks use social media?

11 October, AtoZForexItalian banking association Abi collaborated with Kpmg Advisory and conducted a survey the “Banks and social media” which reveals a highly innovative statistic. The study was presented during the “Dimensione Social & Web” conference, held in Milan today and tomorrow. Italian banks are present on 5 different social media platforms with varied contests and activities. The banks are active on the popular platforms Facebook, YouTube, Twitter and LinkedIn.

Italian banks lead by example: How should banks use social media?

Customers require personal communication and in Italy they have embraced this idea. Currently, 55% of the Italian banks are present on the social media platforms Skype, Facebook Messenger, Whatsapp and more. The personalized and fast communication with their customers or potential clients, saves the customers to call or visit the bank. Instead, they can just send a quick message and receive an answer quickly. Making communication easier, while banks attract more customers.

Fully exploring and using the dynamism of the social media platform world, Italian banks daily update their account. The banks are posting images, updating customers on new activities and providing additional information about the bank. According to the statistics, images on social media attract more people than texts, so Italian banks have been using images as the main means of communication. The topics of conversations on Italian Banks’ social media pages are mostly about financial items. However, to attract more customers they do devote space and time for other subjects such as shows, art, tourism.

See also: Facebook will buy Twitter!

Social Media bound to increase in the future

Italian banks in the near future will be providing their communication language by using educational games, surveys and contests aimed to improve the financial culture. The majority of banks is already doing so or are planning to do so. The study shows that social media is a new communication path for the market. The majority of the interviewed banks has started a direct and open conversation with customers, to increase transparency with the public.

The study also focused on the innovative tools made by social media. A robotic software program that can help a customer out, known as chatbots, are one of the new innovations in the pipeline. Other ideas are offer groups, event previews and live streaming, some of these tools are already planned for deployment by 36% of banks in the future.

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