Timetric Retail Banking Reports
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Social Media in Financial Services
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- Social media
- Financial services
- Customer engagement
- Social media in marketing
- Employee engagement and interaction
- Social media tools
- ANZ
- American Express
- Barclaycard
- Deutsche Bank
- Royal Bank of Canada
- Toyota Financial Services
Synopsis
- This VRL report assesses the changing role of social media in cards and payments, retail financial services and wealth management. Far more than any other medium, social media (also referred to as Web 2.0 and User Generated Content), with its emphasis on interactivity and collaboration, gives consumers a platform for their voice to be heard. It allows for an incredibly high level of engagement, which is important for an industry that was for a long time, focused on improving customer service through incremental operational improvements.
Details
- Product code: VR0728MR
- Published: March 1, 2010
- 158 pages
- Single-user: $3800
- Site License: $7600
- Enterprise License: $11400
- Terms & Conditions
Executive summary
Financial services organisations still lag behind business best practice in the usage of social media. Many organisations are still failing to accurately measure returns on social media activity. Social media has become one of the most cost-effective tools for training, learning and organisational development. The future channel for social media is increasingly through mobile devices.
Scope
- This report uses non-public domain data and exclusive interviews to provide a comprehensive analysis of global best practice in social media and retail finance
- This report details the mixed experiences of banks operating in virtual worlds
- This report understands and assesses the risks from social media
- This report will help you to integrate social media with other delivery channels
- This report provides and understanding of the growing role of social media in wealth management
- This report details the use of social media as an internal communication, HR and training tool
- This report provides case studies and examples involving; ANZ, American Express, Barclaycard, Deutsche Bank, Royal Bank of Canada and Toyota Financial Services
Key highlights
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Reasons to buy
- Social Media in Financial Services will help you to understand social media and its potential to enhance customer engagement.
- The report details the key success factors in deploying these tools, the challenges for implementing them in the financial marketplace and practical ways to overcome them.
- Learn through best-practice case studies how the market leaders are using social media to increase their customers' brand loyalty.
Table of contents
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List of tables
Table 1: Survey of bankers using social media
Table 2: Consumer trust in peer recommendations compared to different forms of advertising, 2007
Table 3: Global internet and users and populations statistics
List of figures
Figure 1: Which social media channels do you use for personal communication?
Figure 2: Which social media channels do you use for business communications?
Figure 3: How will your use of social media tools/products/services change over the next two years?
Figure 4: How important will social networking services for bank relationships be in five years time?
Figure 5: For business-to-business interactions how likely would you be to use the following social media?
Figure 6: Which of the following uses of social media would you be most likely to engage with for a relationship with a service provider or bank?
Figure 7: Who in the organisation would benefit from using social media or networks?
Figure 8: Comparative demographics of social networking sites
Figure 9: Leading social networking sites by country
Figure 10: Facebook user base compared with populations
Figure 11: Barriers to social media adoption
Figure 12: Twitter adoption rates as measured by web traffic