Banks should invest more in Facebook
Banks’ communication weak on Facebook - LinkedIn most popular and best maintained social media platform. Overall, global banks have presences on all major social media, however, especially on Facebook, by far the most popular network, they are doing worse than with other social media. According to a survey by Swiss research company MyPrivateBanking, the world’s top 50 banks do best on LinkedIn and YouTube, social media where, respectively, 100 percent and 92 percent of the banks analysed have a presence.
Facebook and Twitter are close behind as the next most used social media networks, but bank presences are significantly lacking in quality. For their Facebook presences banks received on average only 67 out of 100 possible points in the MyPrivateBanking evaluation, compared with 84 points for their LinkedIn profiles.
One major weakness of banks on Facebook is the slow response time on comments posted on the message boards as well to private contact messages. Of the banks using Facebook, 25 percent never responded to a posted message by a test user and 40 percent needed more than a day. Even worse, 85 percent of the banks did not respond to an individual contact message via Facebook at all. “Facebook is all about interactivity and this is what banks still do not get”.
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