Comments on: Social Media and Financial Services – Best Examples http://www.richardbuettner.com/social-media-and-financial-services-best-examples/ Online Strategy and Execution Sun, 01 Aug 2010 00:06:41 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Steve http://www.richardbuettner.com/social-media-and-financial-services-best-examples/comment-page-1/#comment-51 Steve Fri, 23 Jul 2010 06:05:51 +0000 http://www.richardbuettner.com/social-media-and-financial-services-best-of-the-best/#comment-51 What about linkedFA? They claim to be the only social media company that meets the compliance needs of the industry. It is a US based company but i have read they are customizing an application for the UK. What about linkedFA? They claim to be the only social media company that meets the compliance needs of the industry. It is a US based company but i have read they are customizing an application for the UK.

]]> By: Richard Buettner http://www.richardbuettner.com/social-media-and-financial-services-best-examples/comment-page-1/#comment-21 Richard Buettner Mon, 28 Dec 2009 18:59:20 +0000 http://www.richardbuettner.com/social-media-and-financial-services-best-of-the-best/#comment-21 Hi Jeffry - thanks for stopping by.<br>I agree on what you say - in terms of social media sometimes more can be even less. I am thinking of useless and meaningless social profiles or content neither maintained and nor engaging.<br>Also the social media ROI discussion is rather overrated. Where do you get a clear ROI in internet marketing theses days? Looking at numbers, SEO receives the most budget but it's a process as laborious and lengthy as social media. On top of that the importance will be diminished by social media content and social search approaches by the search engines. PPC is pricey for the financial industry and what happens after the click is also not quite clear. Hi Jeffry – thanks for stopping by.
I agree on what you say – in terms of social media sometimes more can be even less. I am thinking of useless and meaningless social profiles or content neither maintained and nor engaging.
Also the social media ROI discussion is rather overrated. Where do you get a clear ROI in internet marketing theses days? Looking at numbers, SEO receives the most budget but it's a process as laborious and lengthy as social media. On top of that the importance will be diminished by social media content and social search approaches by the search engines. PPC is pricey for the financial industry and what happens after the click is also not quite clear.

]]> By: Jeffry Pilcher http://www.richardbuettner.com/social-media-and-financial-services-best-examples/comment-page-1/#comment-20 Jeffry Pilcher Sun, 27 Dec 2009 00:44:26 +0000 http://www.richardbuettner.com/social-media-and-financial-services-best-of-the-best/#comment-20 Certainly compliance issues are important for financial institutions considering social media. But for most, compliance issues are not the crippling concern, as you suggest. There may be a few financial firms with a fascist compliance officers, but compliance is not keeping these organizations from pursuing social media. I talk to hundreds of financial institutions every year, and the #1 reason they claim they aren't delving into social media is that "there's no clear and definitive ROI." This argument is disputable, but it is the most-commonly cited reason by a factor of 10:1.<br><br>Also, the graph at the top of this article suggests an organization is "more successful" with social media if it is utilizing more channels. This is a fallacy. "More" is not "better." More is simply more. I see many financial institutions who are using Twitter, Facebook, YouTube, MySpace, Flickr and a blog, and none of those channels are being used well. Certainly compliance issues are important for financial institutions considering social media. But for most, compliance issues are not the crippling concern, as you suggest. There may be a few financial firms with a fascist compliance officers, but compliance is not keeping these organizations from pursuing social media. I talk to hundreds of financial institutions every year, and the #1 reason they claim they aren't delving into social media is that “there's no clear and definitive ROI.” This argument is disputable, but it is the most-commonly cited reason by a factor of 10:1.

Also, the graph at the top of this article suggests an organization is “more successful” with social media if it is utilizing more channels. This is a fallacy. “More” is not “better.” More is simply more. I see many financial institutions who are using Twitter, Facebook, YouTube, MySpace, Flickr and a blog, and none of those channels are being used well.

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