The Video Response of a Bank’s CEO to Customer Questions on Facebook

The Video Response of a Bank’s CEO to Customer Questions on Facebook

As part of our increasingly popular Visible Banking Facebook Watch series. my team is now tracking over 1,000 pages and apps in 72 countries.

GTBank-Facebook-QuestionstoNewCEO-WallPostOn 24th August, an update from GTBank caught my eye: the Nigerian bank urged its customers (and ‘fans’) on facebook to ask their questions to their CEO who would publish a 15mn video response on their facebook page a week later.

GTBank-Facebook-QuestionstoNewCEOThe data collection process didn’t take place on facebook.  The fans were invited to fill a short form hosted on the bank’s website.
In addition to their question, the contributors had to share their name, email address, location, and their telephone number (this was optional though).

After a second wall post and more than 680 interactions (aggregated), the bank finally posted the 15mn video (or, to be exact, a link to a 12mn youtube video) on their facebook page a few minutes after 11am on September 1st.

I invite you to watch the video response with Segun Agbaje, MD / CEO of Guaranty Trust Bank plc.

So, what do you think?  I enjoyed watching the video which reward some of the contributors by displaying their name and location, and emphasize GTBank’s social media presence on twitter, facebook and youtube.  And the CEO starts by apologizing in advance should your question not be addressed in this short video.  Nice touch.

Key topics from the video: strategy (a big focus), retail, corporate social responsibility, recruitment, investor relations,

Another proof of CEO’s focus on being transparent and engaging, during the video Mr Agbage talked us through the bank’s strategy in a very approachable way, and in the retail section (07:10) he even admitted GTBank hasn’t done a lot for young people and small businesses.  Of course, Mr Agbage also announced the launch of a few initiatives and products to address those markets.

In just 5 days, the video has been viewed over 1,300 times which is a very decent figure.

My Take
If you’ve been following me for quite some time, you know that I’m passionate about social media and digital engagement.  The reason is that it is essentially all about people and building better, more trusted, engaging long-term relationships.  I share a special interest for a few topics such as customer support, HR / Careers, and the Senior Management and their use of social media.

It is always a pleasure to see a member of the Senior Management of a financial institution, let it be the CEO, understand and embrace social media.  Congratulations to Segun!  On that topic, I invite you to check my list of Banking – Financial Services – Insurance Senior Executives on twitter.

GTBank-Facebook-ApologiesForServiceFailurePlease note that it is not the first time the bank used facebook as a platform to connect the CEO and its customers (a few months ago, the bank paid tribute to its late CEO on the very same page) and it is not the first time Segun leveraged facebook to engage with his customers in a honest and transparent way when he posted a video to apologize for service failures back in May 2011.

This demonstrate the bank’s understanding of social media.  Even though size is not the only thing which matters, I should add that GTBank’s main facebook page made our Top 25 most likes pages in the world.  Not bad considering that Nigeria is only ranked #36 country in the world with a penetration of internet population under 9%.

Overall, I like this initiative.  It was a clever way to engage with their facebook community and urge them to participate.  And the engagement process was super simple: it didn’t involve any pricey facebook application, but a couple of wall posts, a simple form hosted on their website, and a video hosted on… youtube.

My main comment would be about the video: no need to announce a 15mn video if you are going to post ‘only’ 12mn (it might slightly irritate the people whose questions have been ommitted…), and if you want to fully reward your facebook fans (and at the same time urge more customers to like your page), host the video exclusively on facebook, not on youtube. 😉

And you could make it easier to your viewers by displaying a detailed agenda in the video description.  Over the years as a blogger experimenting with the video format, I learn first hand how important it was with videos over 5mn…

But those are just minor comments.  The initiative was a success which generated a good level of engagement and valuable feedback / conversations on facebook: check out the comments on the three wall posts… they are priceless.

So, how is Your CEO engaging on facebook or twitter?  And if he isn’t today, how important would it be to you?

Working Together
We at Visible Banking would be delighted to help you and your team better UNDERSTAND and LEVERAGE social media in a strategic yet pragmatic way. So please don’t hesitate to call me, send me an email or DM me (@Visible_Banking) to book a meeting and talk about twitterfacebook,crowdsourcingcustomer reviews, social media & social commerce in banking, financial services and insurance.

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