28 April 2017
Visit EBAday.com

Majority of consumers find banks' use of social media annoying, boring or unhelpful

18 March 2014  |  1353 views  |  0 Source: Carlisle & Gallagher

According to findings released today from Carlisle & Gallagher Consulting Group, a management and technology consulting firm serving the financial services industry, 68 percent of consumers would never use a social media channel to solve a problem with their bank.

In September 2013, CG surveyed 1,002 U.S. consumers online to uncover the important drivers for financial institutions to be successful in managing customer complaints and social media preparedness.

Key Study Findings:

90 percent of consumers prefer to discuss their problems in private with their bank
68 percent of consumers would never use a social media channel to solve a problem with their bank
52 percent of consumers believe banks use of social media is ineffective
87 percent find banks use of social media annoying, boring or unhelpful
BE PREPARED: One in three would use social media to complain. Consumers willing to complain use the following social media channels:

Facebook - 54%
Twitter - 18%
LinkedIn - 12%
Blogs - 10%
Other - 6%

"In today's world of instant gratification, customer demands will continue to increase and it is the financial institution's responsibility to anticipate and to plan for that demand," said Dr. Patricia Sahm, CG's Customer Experience and Channels practice lead. "Social media serves as the bellwether in customer care, enabling intimate and yet public conversations between customers and their banks."

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comFind out morevisit dh.com

Top topics

Most viewed Most shared
hands typing furiouslyBitcoin ETF Bites the Dust, Needs More Sec...
18670 views 0 | 7 tweets | 7 linkedin
EC plans blockchain 'observatory'EC plans blockchain 'observatory'
8875 views comments | 9 tweets | 16 linkedin
Six global banks join Swift DLT trialsSix global banks join Swift DLT trials
7369 views comments | 15 tweets | 36 linkedin
BBVA steps up fintech acquisition strategy with purchase of OpenpayBBVA steps up fintech acquisition strategy...
6745 views comments | 17 tweets | 16 linkedin
hands typing furiouslyWhy Does Cash Still Rule Ecommerce In Indi...
6401 views 4 | 3 tweets | 4 linkedin

Featured job

to 120K base, £300K ote, stock options
London, UK

Find your next job