Tuesday 27 September 2016

Social Media and Financial Services: Finally, A Happy Ending on the Horizon

Like the high school nerd (who eventually makes it big, of course) watching the star quarterback escort the prom queen to the dance, financial services marketers long envied the glamorous relationship consumer companies have with social media.

While no fairy godmother has magically altered the circumstances of our environment, over the last few years, those of us in financial services marketing have seen a few promising developments that are helping give our clients the guidance and confidence they need to actively participate in social media. As we see it, last year there was significant progress in four main areas:

  • More favorable regulatory environment
  • Increased consumer comfort with technology and channels
  • Advancements in consumer and corporate technology
  • Positive experiences from social media pioneers

The white paper attached here, goes more in depth on how these areas have changed from 2009 until now, including guidance from regulatory bodies like FINRA, groundbreaking activity from institutions like Putnam and Wells Fargo, the rise of tablets and smartphones, and changing attitudes among consumers about the financial services sector.

There’s also a look ahead to what we see happening down the road in 2012 in terms of necessary structural changes that financial firms face, increasing investment in digital from the industry, and where we expect regulatory bodies to land when it comes to social media use, information retention and reporting.

Just like when the wildly successful nerd returns to the high school reunion and sweeps the former prom queen off her feet, by the time you finish reading the paper, I expect you’ll have a grin on your face as you picture the happy future the financial services industry and social media will have together.

 

 

Image credit: Device Magazine

Article source: http://feedproxy.google.com/~r/EdelmanDigital/~3/vqpqeDqWpEk/

  • http://twitter.com/eezeer eezeer

    Really nice post, thanks for the smile :)

    I keep saying this over and again; Everyone must get on the social band wagon. Not having a social media presence could cost more than employing someone to manage it…