PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: MyPrivateBanking GmbH

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Most Banks Struggle with Social Media Notes MyPrivateBanking - In a global ranking of the social media presences of the world’s top 50 banks Citibank comes out as winner, but two-thirds of the surveyed banks still fail to grasp the opportunities of social media such as Facebook and Twitter - MyPrivateBanking.com
Most Banks Struggle with Social Media Notes MyPrivateBanking

 

NewswireToday - /newswire/ - Kreuzlingen, Switzerland, 2012/04/23 - In a global ranking of the social media presences of the world’s top 50 banks Citibank comes out as winner, but two-thirds of the surveyed banks still fail to grasp the opportunities of social media such as Facebook and Twitter - MyPrivateBanking.com.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Only a small group of the world’s leading banks have finally grasped the opportunities of social media such as Facebook and Twitter. This is a main finding in a new analysis of the social media presences of the world’s top 50 banks, conducted by Swiss research company MyPrivateBanking. In the ranking Citibank comes out as winner with an outstanding 47 points out of a maximum of 50. Runners up are BBVA of Spain and the National Australia Bank (NAB) with 44 points each, followed by Crédit Agricole and Deutsche Bank with 43 points.

According to the report,“Social Media for Banking 2012”, this small group of social media leaders in the banking sector have each managed to build an excellent social media presence reaching across all the important social networks and across global markets, and also including their own websites. A success built on an integrated global social media strategy, in most cases executed by a globalvteam of social media specialists. Following behind this group of social media leaders are the social media discoverers. A group which includes about 40% of the analyzed banks and is defined according to MyPrivateBanking by their offers of some basic elements of social media, for instance a Facebook presence or a Twitter stream to communicate with their customers and the general public. But these banks have failed so far to build an integrated and strategic approach to social media. Quality between the various presences varies substantially and the messages often conflict.

Although social media have been around for a number of years now, a disappointing third of the benchmarked global banking players still only attain half of the maximum points or even less. This substantial proportion of leading banks worldwide, labeled as social media laggards by MyPrivateBanking, miss out on leveraging the new opportunities provided by social media. They only present on some social networks and even then design and content often leave a lot to be desired.

“We see a widening gulf between a handful of banks worldwide, leveraging social media extremely well to serve existing as well potential customers, and the majority of banks still struggling with the new platforms”, says Steffen Binder, Research Director of MyPrivateBanking. “These banks need to catch up fast or they will lose a new generation of clients”.

The critical weaknesses that the MyPrivateBanking report identifies for more than two-thirds of the banks are:

• The majority of banks evaluated are still lacking an integrated and strategic approach to social media. For instance, only 16 banks have meaningful content on all the analyzed leading social network;
• In most cases, social media are not up-to-date. For instance, social media on bank websites are only in seven out of 50 cases fully up-to-date, defined as the latest content on each blog or videocast etc being no older than 1 week;
• Facebook, as the most important social network, is still the weakest link for most banks. On average, banks reach only 60% of the total possible points for their Facebook presence in the MyPrivateBanking benchmark.

In order to catch up with the leaders in social media development, MyPrivateBanking recommends that the top management of every leading bank should beinvolved in determining the right strategy. Once a clearly defined strategy is in place, a dedicated social media team is needed to execute it, ensuring that the message the company wants to send is communicated in a effective way across all channels and markets. MyPrivateBanking’s report makes clear that each bank must have a presence on Facebook, Twitter, LinkedIn, Youtube and Google Plus and that these presences require frequent updates with lively comments, videos, photos and other content to captivate the user. In addition, increasingly, users expect direct customer support through social networks like Facebook and Twitter, where they’re posting questions and complaints and expecting timely responses.

Taken as a whole, the analysis in the new report demonstrates a clear overall improvement in social media use by banks compared to the results of previous MyPrivateBanking surveys (myprivatebanking.com), but still a lot remains to be done. “For the vast majority of banks, room for improvement is still extensive and the quality of online presences fails to match the importance of social media as a communication tool by a wide margin”, comments Steffen Binder, summing up the current state of social media in the banking sector. “The good news for banks is that, in social media, changes requiring relatively little effort can achieve big improvements.”

The top ten list of banks with best social mobile presences is as follows: CITI Bank, Banco Bilbao (BBVA), National Australia Bank, Credit Agricole, Deutsche Bank, ING Bank, Rabobank Group, Standard Chartered, Wells Fargo, BNP Paribas

About the Report
The report “Social Media in Banking 2012” analyzes in detail the strengths and weaknesses of the social mobile presences of the 50 largest banks worldwide. In total almost 250 social media presences were evaluated along 33 criteria; for each bank and it's social media presences the quality of the content and functionality as well as the integration with the website is rated. For further information on the report please check our website.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: MyPrivateBanking GmbH

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Financial/Legal/Venture articles,
CATCH Visitors via Your Competitors Announcements!


Most Banks Struggle with Social Media Notes MyPrivateBanking

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: Christian Nolterieke - MyPrivateBanking.com 
+41(0)71 670 0489 pr[.]myprivatebanking.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any MyPrivateBanking GmbH securities in any jurisdiction including any other companies listed or named in this release.

Financial/Legal/Venture via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From MyPrivateBanking GmbH / Company Profile


Read Financial/Legal/Venture Most Recent Related Newswires:

Infinera to Participate in Upcoming Investor Conference
Propel Financial Services Partners with Clear Payment Solutions
Digital Payments Power Growth in Booming Asia-Pacific Financial Technology Landscape Notes Frost & Sullivan
Digital Readiness Key to Growth Opportunities in the Financial Services Market
Prairie Capital Advisors Announces The Sale of Cornerstone Treatment Facilities Network to An ESOP
Koch Agrees to Invest Over $2 Billion in Infor
FTI Consulting Recognized as a Top Service Provider in the Legal Industry
GE Completes Spin Off and Demerger of Bank BPH Core Bank to Alior Bank
ALM Expands Senior Leadership Team, Organization Focused on Customers and Transformation
Lazard Acquires Remaining 50% Stake in MBA Lazard - Fully Integrating its Latin American Operations
Western Union Business Solutions Announce Mark Davis As Head of Australia and New Zealand
Tabarak Investment Capital and Elite Capital & Co. Limited in Discussion to Finance Projects
Consulting Magazine Unveils the Profession’s Fastest Growing Firms At Inaugural Gala
Hills Invest Signs An Agreement with The Afore Profuturo in Mexico
TRA Searches for TPA Acquisition Opportunities

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  Triggr & Bloom

Visit  BizJobs.com





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)