Banks and Twitter

The Financial Brand just released an interesting report on 314 banks that have a Twitter account, with all sorts of ways to evaluate Twitter activity, followers and efficiency. One interesting stat: 2/3rds of banks in this study have less than 200 followers even though on average they’ve had a Twitter account for 2 years. Not much to show for whatever effort they put against it. And they summarize the report with the opinion that it really doesn’t make sense to use resources to build a Twitter initiative unless you have a strong strategy and a team to keep it active. Not a surprise – this advice is consistent with all social media initiatives as well as marketing in general. Here are all the details:

According to Nielsen, only 40% of consumers trust marketing content, but 90% trust content from their social networks
Read this if your Facebook page isn't active
2 Responses to Banks and Twitter
  1. clairvoyantgirl
    November 14, 2012 | 5:23 pm

    Great point Lauren, all too often companies think they need to be a part of the fad. If you cannot dedicate the resources to the project the project will not succeed on its own(at least not long term). This just sets the company up for frustration as well as a potential loss.

    • loconnell1
      November 18, 2012 | 4:23 pm

      I agree – smart bankers have a sound strategy and a commitment to the resources to execute – or they decide not to engage. Which are the same ones who do this for all their marketing initiatives!

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