Making high interest work in your favour
Banking, finance, and insurance brands are in the middle of transitioning to the online space, but there is a sense of urgency. Customers are no longer content restricting their banking into business hours, trekking to a physical branch just to wait in line to see a clerk; instead, the modern consumer increasingly expects to be able to keep track of their finances online—and on mobile—any time, 24 hours a day.
Online financial services may be weighed down by stringent security protocols and password policies, but social media has still become an important facet of customer service in the industry. After all, social is about more than outbound marketing: it's also where customers turn to ask questions and air grievances. Brands that don’t respond are basically doing the digital equivalent of keeping customer phone calls on hold until they hang up. But social media is a lot more public than a phone call. Marketing managers have to be prepared for social engagements—the good and the bad—by creating clear guidelines and establishing accountability through, for example, the use of digital signatures at the end of social media posts.
Auto-response messaging may be efficient, but, due to its impersonal nature, should generally be avoided. Direct messaging, on the other hand, is a powerful tool, providing a way to connect that is both personal and private. Whatever your methods, timeliness should be a top priority: your customers expect to be acknowledged as quickly as possible, and can you blame them?