If you’re looking to stay abreast of all the latest developments on Facebook in the retail banking space, check out The Financial Brand’s Facebook page. You know what button to press if you like what you see.
Every month, there are dozens of new developments, examples, case studies, contests and articles about banks and credit unions on Facebook. The intention is to create an outlet for this material, where readers can engage in a channel completely devoted to the subject of “Facebook” + “finance.”
If your financial institution has something underway or planned for Facebook, be sure to let The Financial Brand know.
In the meantime, please enjoy this opportunity to review the articles on Facebook recently published by The Financial Brand.
The top 35 banks on Facebook claim nearly nine million fans among them, out of a combined base of 1.5 billion customers. The top three financial institutions claim 71%, or 6,259,027, of all fans in the list. Ironically, those pages with the most fans don’t have much (if anything) to do with banking. 4,881 Views.
This study compares Facebook Likes to asset size and customer/member base for 20 banks and 20 credit unions. Banks get an average of one Facebook like for 710 customers. Credit unions, just as they do on Twitter, fare much better, attracting an average of one Facebook like for every 126 members. 3,936 Views.
Instead of greeting Facebook visitors with a bunch of random (and sometimes negative) Wall posts, why not create a customized landing page and take control of the experience? 1,640 Views.
Want to spike your Facebook Likes? Time for a giveaway. Sweepstakes and other similar raffle-style contests have proven one of the most consistently effective ways financial firms on Facebook have achieved sizeable fan growth. Just plan to spend at least $1 for each new fan. 3,140 Views.
ASB’s real-time, person-to-person banking application is the first of its kind in the retail financial world. The New Zealand bank rolled out a proprietary application that allows users to engage in two-way, real-time conversations with customers service specialists. 3,165 Views.
Check out how one bank used Facebook Places, a GPS-based “check-in” tool embedded in the popular social network, to build a contest. The bank rewards people for making frequent branch visits, but is this a smart strategy? 1,541 Views.
This impressive Facebook app lets users vote to determine how much money will be divided among six different community. The campaign, called Community Seeds, invites Facebook users to vote for their favorite charitable organization. Each vote earns that organization $1. In total, the bank will give away $175,000 as part of the campaign. 1,917 Views.
In less than 12 months, an ambitious Facebook strategy involving crazy online video games and custom branded applications helped Akbank reach nearly a half million people. They’ve reached 6% of the bank’s 8 million total customers, far outpacing the industry average of 0.14% — 45x more fans than the typical retail financial institutions sees on Facebook. 2,390 Views.
The bank is using a daily giveaway tied to Facebook in an effort to draw attention to its new automatic savings product, the Simply Save program. People can get one entry without condition. But those customers who take specific actions are rewarded with additional entries. 796 Views.
Coast Capital Savings’ Facebook-based “You’re the Boss of this Contest” let participants name their prize, then compete in a vote to determine the winner. Requested prizes were required to be home-related, and the value was capped at $2,000. Ten finalists were selected from the entries each week over a period of four consecutive weeks. 794 Views.