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The Future of Social Media for Marketing Financial Services

New Trends and Outloook of Social Media for Industry ing Financial Services

Datamonitor
  • Publication date: November 2011
  • Report price: $ 3 450

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$ 3 450 - 1 User License

Summary

Table of Contents

Social media channels are changing the way in which consumers gather information, research products, and make purchasing decisions. The reach of social media and its power to engage consumers makes marketing through this channel highly effective. The reluctance of FS providers to use social media is often attributed to issues of ROI and regulation but these are hurdles which can be addressed.Boost consumer engagement and increase the impact of marketing by learning how best to use social media for marketing new products and services.Build brand equity by understanding how social media can raise brand awareness and the perceived quality of a brand.Address the issue of return on investment through analysis of this measurement and its application to social media.Use social media effectively while adhering to regulation with best practice guidelines for FS providers.Globally, there is considerable demand from consumers for the marketing of suitable products through social media. Almost 40% of consumers state that they would be interested in the ability to receive information about suitable products through this channel.The overexposure of consumers to marketing messages makes it impossible to pay attention to all of these. Inbound marketing, which encourages consumers to find out about a company or product themselves, engages consumers because it has consumer consent. Social media in turn amplifies the impact of inbound marketing.Two of the main objections to social media within the FS industry are related to ROI and regulation. However, these hurdles can be overcome by looking at ways in which to alter the definition of ROI within a social media context and by following best practice guidelines on the regulation of this type of marketing.How can social media be used to increase the impact of marketing new products and services?How can FS providers overcome regulatory issues in order to use social media channels for marketing?What is the return on investment of social media for FS providers?How can social media channels be used to build brand equity?What is the consumer demand for the use of social media in FS?

Datamonitor
  • Publication date: November 2011
  • Report price: $ 3 450

Get this report today!

$ 3 450 - 1 User License

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