Banks large and small have been investigating how to use their online banking and social media to best advantage. BankAtlantic is well on their way to leveraging social media to expand their customer relationships. The $4.5 billion thrift-based bank in Fort Lauderdale, FL has implemented multiple initiatives to deepen their community engagement and help their customers meet their financial goals.
BankAtlantic (bankatlantic.com) has worked to create blogs, newsletters, social media interaction and educational videos that highlight not only the bank’s products and services, but also give professionals within the community a platform to share their expertise with others.
According to Tom Triozzi marketing director for the bank:
“Online channels are an extension to build a stronger and more meaningful relationship with the customer, … our job is to understand the customer and provide the information they need.”
“From our standpoint, our whole strategy as a community bank is to differentiate ourselves by getting involved in the community, helping out in the community, lending money in the community,” Triozzi explains. “We all live and work and play here, and this bank has always tried to have a special relationship with its customers.”
For more information read the article in Bank Technology News:http://www.banktech.com/channels/229400179
For advice on how to establish your social media strategy, read Mercator Advisory Groups report “Be Smart About Social Media”http://www.mercatoradvisorygroup.com/index.php?doc=Prepaid&action=view_item&id=571&catid=16.
The report discusses the motivation for financial firms to participate in social media, provides some definitions and categories of initiatives that banks can implement, and introduces a five-part framework to assist senior management in defining the activities that would have the most value for their respective firms, and how they should organize their approach to the task.
