3 Reasons Banks Market on Twitter Most in Social
Tweeting bankers may feel counterintuitive — it’s a short space for content in a profession known for verbosity. But it’s true — bankers prefer Twitter to the other social channels for marketing efforts, finds a recent study.
As Tanaya Macheel wrote yesterday on Tearsheet about L2’s research:
Banks use Twitter more than Facebook, Instagram or LinkedIn — of 123,000 posts by financial brands, 79 percent were posted to Twitter compared to 12 percent on Facebook — and not just as a channel for customer complaints, as many other brands in service businesses do. Banks Goldman Sachs, Bank of America and Citi push podcasts, video interviews, company updates and sponsorships to customers.
They’re Not Paying Attention to Their Customers
L2 tells Tearsheet that bankers love that the platform is free and there’s a small, but engaged, audience there. And yes, brands can spend money on each platform — or use them for free. But that’s not the point — Twitter may not be where the average customer is.
Across social media platforms, 75 percent of 15.4 million interactions with financial services brands in 2017 have happened on Facebook, compared to 20 percent on Twitter.
Results Happen in Real Time
Tearsheet says: “The greatest thing about Twitter, according to B of A’s enterprise social media executive Christopher Smith, is ‘the ability to know in the moment what it is people are talking about. You can also create moments.’ ”
It Feels More B2C Than C2C
Banks are still product-, not customer-centric, Macheel writes. It’s their comfort zone and Twitter feels more promotion-oriented to them.
What do you think, marketers?
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