Social media has become a great customer service tool across many industries and banking is no exception. However, not all banks are so proactive. A recent study found that 40% of banks avoid discussing specific products and services in their social media efforts. But for banks that are more active in engaging with their customers over social media channels about their products, a real-time communication can be helpful in addressing problems with customers. In other cases, a visible Twitter account can be a quick and easy first step in the customer service chain when people want to get specific information.
Many, if not all that use Social Media, see many of the same questions on Twitter that they get on typical channels such as telephone or in person, but they are starting to see social spaces as a potential channel of choice for customers to get the information they need. However, because of the sensitive nature of banking and the openness of social media, customers need to be careful when sharing information with customer service reps on social channels. On Twitter for example, its strongly recommended that in order to keep conversations private, use direct messages and from there a more secure communications channel (e-mail, etc…) to gather sensitive details.
Most banks are now seeing positive feedback on their Twitter accounts, etc.. compared to when they first opened as credibility was an issue. So when it comes to banking, the more you help your customers via Social Media the more your legitimacy will grow.
