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|YouTube Casts a Spotlight on Banks’ Social Media Challenges|
|Thursday, 26 April 2012 10:09|
By Daniel Wolfe
"It certainly is safer to not allow somebody to comment on something on YouTube … but I don't know then what the value there is" of having an active YouTube channel, says Alan Maginn, a senior analyst at Corporate Insight.
The New York-based research firm published a report this month highlighting some financial companies' uses of social media, though it largely excluded YouTube because the social features, such as comments, are rarely used even when banks allow them.
"I just don't think the financial services industry as a whole has accepted YouTube" in the same way that it has Twitter and Facebook, Maginn says.
Ninety-two percent of the companies Corporate Insight studied have a presence on Twitter, according to the report. Eighty-eight percent have a presence on Facebook. The companies use social media for customer service and recruitment, among other purposes.
Even on Twitter and Facebook, financial companies have a guarded presence, Maginn says. Many banks' Facebook pages do not allow users to post on the company's "wall," a restriction that gives the banks greater control of the conversation, he says.
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