About a month ago, Kamran – a real banking customer in Pakistan – shared his views and expectations with us on the topic of social media in banking. Being provided with social customer care appeals to him, but not accessing his accounts on facebook or twitter.
Social media have spread across like a fast growing virus. The growth In its use past couple of years has been phenomenal and the continued growth is a promising one. Looking at this unexpected growth in the usage of social forums last couple of years has been wonderful; the speed it is catching on is extraordinary.
Only in Pakistan the current Facebook users according to socialbakers.com is 6,412,580, which has grown from 1,146,700 within the last six months. This brings Pakistan in the 26th position of Facebook users in the world. Distributing this number age wise would show even clearer results. We have 69% male and 31% female population using Facebook in Pakistan. 51% of the population falls between the age of 18 to 24, 26% 25 to 34, age 16 to 17 is 9%6% is 34 to 44, 13 to 15 years old are 5%45 to 54 are 2% and 55 above are 2%.
Since social media is the new hype, every business is using it to make themselves known and market their product. Banks and other financial institutions are also making their way to these forums. However going through Facebook I came across the page called List of Banks in Pakistan. I checked the listings and was shocked to see some of the banks have only 5 likes to them. This shows two things, first is that either the page hasn’t been circulated well enough, or, people have less interest in Banking on Facebook.
As a customer and active user of the online forums, I would very much like to see a Facebook page of my bank. The latest updates regarding the policies of new features added, some upcoming offer a new solution, is sure something I would look forward to seeing. An easy way to reach your online bankers, like if you leave a message on the wall someone will answer your query Inbox or online. Getting all the daily basis requirements and Help lines on a social forum would be a great help. Just like a website the page too can have an FAQ section answer most common of issues customers face.
The active interaction of a bank with customers online, the latest updates on their products and new launches might be very enticing and promote their products. Even pursue someone like me to have a bank account or credit card with them. Being out there and interactive will definitely help increase their sales. Especially if there is an instant feedback on your complaint status, it can do wonders.
Twitter can be very efficiently used to achieve real time complaints and suggestion, feedback. There can be more the one customer care people on twitter answering your query real time, if you get a great user response.
Accessing my bank account from Facebook is something I am not yet comfortable with. I would rather like the page routing me to the main website to sign in my bank account but logging in through Facebook to be seems a bit too much, since I like to keep things separate.
More on the Author: Kamran (Pakistan)
Kamran is a 35-years old male from Pakistan who has banking relationships with three financial institutions (ADB, MBL, DIBPL). He uses internet banking and mobile banking. Kamran is active on facebook but not on twitter.