Social media still on margins of banks' marketing strategies
“Over 80 per cent of the banks surveyed, their social media spend was less than 500,000 Euros per annum,” the Global Retail Banking Digital Marketing Report 2013, jointly prepared by Wipro and Efma, a global not-for-profit organisation that brings …
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Content Marketing Automation: The Good, The Bad And The Useful
As mentioned earlier, the idea of Content Marketing is hardly breaking news. Still, search queries for the phrase “Content Marketing” have more than doubled over the last two years. So, why the sudden rise of popularity? And why are companies suddenly …
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One of the leading beverage businesses in the Middle East is looking for a Trade Marketing Executive for their office in Abu Dhabi. Get the opportunity to be part of the development of new strategies that will greatly impact the companys growth. As the …
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Popular Questions
Why is social media still on the margins of banks' marketing strategies?
Many banks continue to prioritize traditional advertising, branch outreach, email, and direct customer communications over social media. Strict compliance rules, privacy concerns, and the risk of public criticism can make bank marketers cautious about using social platforms. As a result, social media often supports broader campaigns rather than leading them.
How can banks make social media more central to their marketing strategies?
Banks can assign social media a defined role in customer acquisition, education, service, and retention goals. They should create approved content workflows that allow compliance teams to review posts without delaying timely responses. Tracking measures such as qualified inquiries, engagement with financial education, and conversions can demonstrate social media's value to senior leadership.
What prevents social media from becoming a larger part of banks' marketing strategies?
Regulatory review, data-security requirements, limited internal resources, and uncertainty about return on investment often restrict social media activity. Banks may also struggle to adapt their communication style to fast-moving platforms while maintaining accuracy and professionalism. Clear governance, employee training, and reusable compliance-approved content can reduce these barriers.
Which social media tactics can strengthen banks' marketing strategies?
Banks can use short educational videos, fraud-prevention tips, product explainers, community stories, and responses to common customer questions. Each post should include a clear purpose, accessible language, and a review process suited to the platform and product involved. Testing content by audience segment and monitoring both engagement and meaningful actions can show whether social media deserves a larger budget.