Category Word of mouth

Invested: How is the FinTech 100 doing in social media?

American Banker released the list of top 100 FinTech companies last week and it makes for an interesting read. Head on over to AB’s site to view the full list.

As I perused the list, I couldn’t help wondering how different it would look if the companies were ranked by Twitter followers instead of revenue. I’m not suggesting that your number of followers is a direct indication of how well you are executing your social media strategy – far from it – but it is a nice simple way to gauge a firm’s reach. Is there a corrolation between size and following?

Incisive: The FT on embracing trends in social networks

As a quick follow-up to my post about how to convince your executive team to reconsider social media, there’s a good piece in today’s FT about the trends emerging in social media as it relates to financial services – and particularly the fund managament world.

Emma Boyde concludes her piece by saying that:

even if asset managers are doubtful over the use of social media as a trading tool, its value in the public relations space cannot be ignored.

Influential: How to convince your executive team to reconsider social media

I was asked recently by a client to “explain why social media is critical to marketing and PR – and indeed to the organization as a whole.” The person in question worked for an organisation in which YouTube, Twitter and Facebook were all banned and they were looking for a compelling argument to persuade their senior management team to reconsider.

Inexpensive: Get The Macintosh Way for free

For my money, one of the more interesting keynote speakers we’ve had at Sibos was back in 2009 in Hong Kong when Guy Kawasaki closed the week.

Kawasaki is something of a legend to technology marketers. His first book, The Macintosh Way (subtitled ‘The Art of Guerilla Management), focuses on his experience at Apple in the early days of development of the Macintosh.

When the book went out of print several years ago, Kawasaki set about getting the rights back.  Is there life after print? Of course there is. It seems he finally succeeded because he is now making the digitized eBook available free to everyone. In typical Kawasaki fashion though he’s using it to promote his new book, Enchantment.

Incisive: Ford's Scott Monty says "social media is the cocaine of the communications industry"

Just a few days after praising Ford for its impressive social media campaign, I came across this post over on SmartBlog. It includes a video which I’ve embedded below of Scott Monty presenting at BlogWell: How Big Brands Use Social Media in Minneapolis.

Monty is Ford’s global digital and multimedia communications manager and in the video he talks about how the company is establishing authenticity, transparency and accessibility through social media.

The big takeaways are:

Innovative: First Direct takes the lead amongst UK banks in reaching out to its customers

This morning I read this post by Chris Skinner praising First Direct for being the first UK bank to really ‘get’ social media. I was delighted to see a UK bank finally taking advantage of social media in a convincing way.

Ironically I first met Chris when we asked him to blog for SWIFT’s own social media platform: swiftcommunity.net. So, he and I both know how reticent the financial services industry can be when it comes to interacting with its customers and peers online.

Financial services – and banking in particular – remains in many ways a very old-fashioned business. Its practitioners are trained to be risk-averse, it’s part of the DNA. Indeed, as far as looking after my money and yours is concerned, we can probably agree that that’s no bad thing.

When it comes to retail banking though, customers increasingly expect to be able to have their say. Giving them the opportunity to do so, being transparent about it and – here’s the crucial bit – tackling the negative as well as the positive feedback in a public forum, would prove a fantastic brand building strategy for any bank that had the courage to do it first.

That bank is First Direct.

Head on over to the Financial Services Club Blog to read Chris’ full post.

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“My name’s Andrew and I’m in marketing.”

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