MyPrivateBanking Social Media Report (April 2012)
Social Media in Banking 2012
Apr. 17, 2012
The Ultimate Report on Social Media in Banking: Comprehensive, Data-Driven, Rigorous
Only a selected group of the world’s leading banks have finally grasped the opportunities of social media such as Facebook and Twitter to reach customers. As our research shows, more than two-thirds of the of leading banks worldwide still miss out on leveraging the new opportunities provided by social media. They have only mastered some of the basics of social media, are not yet present on all social media and lack a social media strategy entirely. These banks need to catch up fast or they will be lose an entire generation of clients who will desert them in the hundreds of millions.
This report tells you all you need to know for developing, optimizing and implementing a winning social media strategy in banking within 233 pages plus data appendix. Our research team of technology and industry experts analysed in detail the strengths and weaknesses of the social media presences for customers of the 50 largest banks worldwide. The report provides an assessment and recommendations for each of them and the banking industry as a whole.
>>Click here for Table of Contents, Methodology, Executive Summary<<
Using 33 criteria grouped into 8 main categories of evaluation, the social media activities of each bank are ranked on the basis of an individual evaluation of each bank’s presence in Facebook, Twitter, LinkedIn, YouTube and Google Plus together with their provision of social media applications on their own websites. Employing thorough, data-driven analysis, the report derives best practices and provides strategic and operational recommendations for creating social media presences that engage both existing and new clients.
The report gives bank managers, IT providers and consultants answers to the following questions:
Which banks are at the forefront of social media activities, who are the laggards?
What are the positive and negative characteristics of the social media presences offered by the world’s Top 50-banks?
What content and functionality should a bank’s social media presence on each of the five main networks have in order to catch the attention and satisfy the needs of customers and non-customers?
What can be learned from the best practices among the social media presences that were analyzed?
What are the right strategies for the optimal use of social networks such as Facebook, Twitter, LinkedIn and others in banking?
How can you ensure your social media presences stand out from those of your competitors?
What can be learned from social media activities in other industries?
- How is the social media world developing and what future needs and expectations will banking customers have?
Benchmarking and ranking of the social media presence of the world´s Top 50 Banks based on 33 criteria
50 comprehensive profiles of the world’s leading banks’ social media presences including recommendations for each bank
20 Best Practices on social media in banking in respect to functionality, content and strategy
Casebook examples of Social Media Best Practices in other industries
Recommendations on how a winning bank´s social media strategy should look
Comprehensive data appendix with detailed evaluations of all 50 banks (spreadsheet)
||Danske Bank Group
|Banco Bilbao V.A.
||PNC Financial Services
|Bank of America
||Erste Bank/Sparkasse Österreich
|Bank of China
||Royal Bank of Canada
|Bank of Montreal
||Royal Bank of Scotland
||Lloyds Banking Group
|Coutts Private Bank
||National Australia Bank