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|American Express Tops FI Social Media Report|
|Thursday, 12 April 2012 15:17|
By Bryan Yurcan
"Engagement is truly what sets social media apart from more traditional business-to-consumer communications, and this direct interaction with current and prospective clients is a major benefit of a well-executed social media offering," said Alan Maginn, senior analyst and social media expert at Corporate Insight.
Among the trends noted by Corporate Insight are that Twitter is embraced more by financial services firms than Facebook, and that Twitter is increasingly being used more as a customer service channel.
Corporate Insight identified American Express as the one firm that stood out among financial institutions using social media. "Amex manages to use more social media channels more effectively than any other firm," added Maginn. Corporate Insight claimed that Amex was a pioneer in the social media space, activating its first online community in 2006. In 2007, the firm launched OPEN Forum, its most successful proprietary community, which focuses on small business owners. The card issuer also maintains five Facebook pages that draw a large and engaged audience, ranking high in social value. The American Express corporate Twitter account is the overall leader across all financial services firms, said Corporate Insight.
"Social media will only increase in importance as a critical channel for clients and companies to communicate," added Mike Ellison, president of Corporate Insight. "We will continue to monitor this space closely and offer actionable recommendations to our clients so they can maximize the impact of their social media efforts."
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