In ComScore’s report on The State of Online and Mobile Banking, it cites social networks as a space where banks are creating a presence, and improving their capabilities. But do any of the banks’ customers even know about this? Apparently not.
Even though financial institutes have increased social networking activity, ComScore says that only 18% of customers knew that their financial institutions had a presence on social networks. A total 59% had no idea, and 24% were unsure of what their financial institutions were doing on social media sites.
The data shows that customer visits to banks’ Facebook pages have increased by nearly 25%, whereas on Twitter and LinkedIn that number has enjoyed less much less growth.
For institutions that are creating a presence on social media sites, take heed: customers are not interested in solving customer service issues on those sites. If Facebook did update its brand pages to include private messaging options, this might change. For now, however, customers who do follow their financial institutions on social networking sites are mostly interested in retail, credit card and online shopping offers.
As social commerce continues to try and find its place on Facebook thanks to new social apps, and payment services like PayPal build a presence on Facebook, will banking be the next move? Or are social networking sites just a place for banks to build their brand? Tell us what you think in the comments.
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