VB Social Media Banking News via Twitter #9 – 26-May-09

Please find below my daily top 10 tweets on social media in banking and financial services from the people I am following on Twitter.

I invite you to check the other tweets which didn’t make my post today. I flagged them as favorites on @Visible_Banking.

FinancialBrand RT @Visible_Banking RBS, HSBC, Barclays, Santander, UBS among most-mentioned brands on Twitter…but they aren’t on Twitter

Thanks Jeffry for the retweet. What are those big financial institutions waiting for? It is essential to monitor online discussions and engage with people where they interact and express themselves.

It is most surprising from HSBC which has already started to leverage social media with their HSBC Business Network and initiative (reviewed on Visible Banking back in August 2008). Please note that their direct bank, first direct, has started using twitter in november 2008 @first_direct (with only 78 followers as of today).

I invite you to check my Visible Banking Twitter Watch to better understand what banks, credit unions, and other financial institutions are doing on the popular micro-blogging site.
UBank UBank property price poll final results are online at – FYI “No – still has plenty to fall yet” 39% of votes #poll

Another smart tweet from UBank which aims to drive traffic from twitter to facebook, and leverage the comprehensive community features of the 200+ million member social network.

You must ‘cross-market’ your social media initiatives. A twitter user is likely to use facebook too.
By the way, have you checked yet my pictures of some industry leading events on the Visible Banking page on facebook?
UBank We just noticed @realestate_au on Twitter for all your property seekers… Hello @realestate_au Tweet soon 😉

Another way to increase your audience: on twitter, give some exposure to other social media initiatives from non-competitive companies which target the same market segment.
CUTweetTrack Out of 208 CUs, only 35 have a link to their Twitter site on the home page. Thats only 17%! Why is that?

Good stats Roger. I believe 35 is a fair number. Very few banks are promoting their social media presence (twitter, facebook) on their homepage.

@Wachovia is one of the only major banks which promote its twitter account on… their contact page. With 3,784 followers, Wachovia is the second most followed bank in my VB Twitter Watch.

1stMarinerBank CNBC article ‘Will Twitter Help Banks Improve Their Reputations?’

Julia followed the twitter accounts dedicated to customer support from Bank of America and Wells Fargo: @BofA_Help (launched in January 2009) and @Ask_WellsFargo (launched in March 2009) which are respectively the 8th and 9th most followed financial institutions on my list.

And if the banks are lucky, it’ll be another key way for them to manage customers without spending a fortune.

Even though Twitter will never replace the more traditionnal channels for customer service, banks must make sure to engage on this popular service. It costs virtually nothing to set up a presence, and you don’t need a resource full-time to interact. Wells Fargo is a great example of how ot identify and leverage resources from all over the organization, hence drive employee advocacy.
mgreen49 RT @N3W_Media: Interesting article on BrandChannel : Why Brands Have an Eye on Facebook

Twitter is hype now and here to stay, but don’t discard facebook yet! And when you talk about stickiness, facebook is still in a league of its own.
thebankchannel Checking out @bankling and – waddup!

I don’t know what to think about bankling just yet, which has already started to ask for advertising… Any thoughts?… Rob?
forrester New Research: customer advocacy rankings of 40 top US financial services firms falls to all-time low (via@jsymons)

Social Media is one of the most cost-effective ways to drive customer advocacy and increase customer retention. Please note that USAA ranked highest for Customer Advocacy Survey
CUTweetTrack Financial Center…2009 Federal Credit Union of the Year and they are committed to Twitter @FCFCU– Congrats Mike!

I wonder how much social media helped FCFCU to win their award? Finance Center Federal Credit Union promotes its facebook pagetwitter account and linkedin profile on its Financial Center blog.
redphase Missed this: Mint, Rudder want to sell aggregated purchase data. Quicken does not, due to privacy, brand concerns.

What do you think?

Written by Christophe Langlois

Based in London for almost a decade, Christophe is an entertaining fintech marketing keynote speaker and a trusted advisor to the global financial services industry on the topics of digital marketing, innovation and B2B social media.

Christophe has contributed to over 140 events in 18 countries.

Currently, Christophe is advising a number of fintech startups on marketing and growth hacking and he is the Chief Marketing Officer of The Fintech Power 50, an exclusive annual programme helping fintech scale-ups to accelerate their growth globally.

Christophe's views on are his own.

VB Social Media Banking News via Twitter #8 – 25-May-09

Visible Banking Twitter Watch #7 – 67,948 followers / 158 financial institutions / 16 countries