Ways of the promotion the brand of bank Essay

Scenario
If a customer is facing some payment issues through internet banking and if he/ she post it on hi social media site banks can react proactively and solve the issue and can turn the negative comment to the positive .
Brand development
Banks can use the media to expand their brand market . let us see with some example scenario mentioned below
Scenario
A customer is using facebook and likes the banks campaign message or retweets in the twitter which is increasing the promotion the brand of bank .
Reputation management
The medium sometimes may threaten the banks reputation when the negative comments are spreading through the media , as the platform is open and dynamic. On the other side if some positive message is spreading advantage can be taken by the banks as they can increase their reputation .
Scenario
If bank observe some negativity is spreading about their products and service offered by them banks should carefully handle them . the can take some measures by interacting with the customers and mitigate the damage .
INTERNAL COLLOBERATION
Scenario
If customer post some concern about misuse of debit card . the bank can immediately react and take action by contacting multiple departments such as customer service and some associated departments handling the functionality and see that problem is resolved .
LEVERAGING THE SOCIAL MEDIA
BASIC ELEMENTS
As discussed earlier social media platform provides many benfits to the banks by enhancing the overall experience of the customers .before integrating the social media in banks activities the banks should know the basic elements to make use of it effectively.
The basic elements should be considerd before using the social media are
1. Capacity banks should ensure that there is enough staff and other resources to perform their activities through social media platform .it helps in defining allocations clearly to run with out any interruptions .
2. Technology the technology requirements should be listed and sort out if existing systems can be used and decide what all new systems supporting the technology need to integrate and existing system data should be integrated in the new system
3. Support as the usage of social media is still in initial stages banks can take help form the third parties in order to guide them in how to leverage this is most effective way .
4. Risk as social media is open and dynamic in nature so bank should have detailed risk assessment and develop a control mechanisms and robust monitoring.
5. Competencies social media being a new trend to the banks , banks should provide some special training to their staff to help them understand the work and make them aware of new technology methods adopted and also caution them about the risk assosciated with it .
Road map
Banks should lay a clear road map to put social media in right vison and to enhance the overall customer experience