Social listening is capable of measuring the social media voice of the consumers and also has a huge impact on the reputation of a bank. In real time, responding the customer issues, it can turn a bad situation into a greater customer experience.
It is unfortunate that there are many banks which are still hesitant in developing a stronger presence in a social media platform mainly because of the heavy industry regulations. The platform of social listening in banking and with the right education the banks can also gain the benefits and rewards that the social media platform has, to offer them. Below are the five major ways by which the banks are effectively using the social listening for becoming actively social while tracking and managing their reputation at the same time.
- When you are ready to engage, the social media platform will give you a full hold on who your community is and their whereabouts, so this becomes your key information. Focus on the keywords that are being used mostly like banks, credit cards, investments, brokers, equities etc. the social media platform will help you in uncovering these conversations and also you will get to know the community better. You may also consider investing a tool depending on the global reach of your company. This tool can provide you the necessary global coverage and language capabilities too. So, understanding the landscape is important.
- From the social listening in orm banking, the customer service team of a bank can reach out to the customer issues and gather the insights that are required in order to establish a real time communication between a bank and its customers. Without even knowing or discussing the private account details of a particular customer, the social media of the bank are capable of identifying and also evaluating the customer issues when they happen. After that they take the conversation to an offline platform to discuss and solve the issue or refer the customers to a particular link or may be a customer service number. The customers will be satisfied by the efficient real time customer service that they receive. The authentic consumer views from the social listening will give the bank the intelligence that it needs for improving the service, sales and customer satisfaction.
- Another benefit of using the right social listening tool is that it provides the opportunity of tracking and analyzing all the conversations and the sentiment that is present around the company and industries in many social media platforms. It also helps in discovering and also dealing with social media. Building a crisis response chart during a crisis in the company will help to outline who will be entitled with a task during each crisis situation. Social listening will help in identifying the issues on a real time basis. With the help of the crisis response that will be created during a crisis of a company, the team will be aware of their individual tasks that they will perform during the crisis.