According to Nielsen, only 40% of consumers trust marketing content, but 90% trust content from their social networks

Here’s an interesting article on how to improve your content in social media, so it’s not seen as marketing content.  A great quote: Social media requires us to get away from being promotional and sensational and instead treat our customers with special attention to including their thoughts in our offerings, being truly interested in what they have to say in the real world, and communicating about the things they care about — with a vocabulary that illustrates they can trust us.  Although not specifically about social media and financial institutions, this article is worth reading.


Banks and Twitter

The Financial Brand just released an interesting report on 314 banks that have a Twitter account, with all sorts of ways to evaluate Twitter activity, followers and efficiency. One interesting stat: 2/3rds of banks in this study have less than 200 followers even though on average they’ve had a Twitter account for 2 years. Not much to show for whatever effort they put against it. And they summarize the report with the opinion that it really doesn’t make sense to use resources to build a Twitter initiative unless you have a strong strategy and a team to keep it active. Not a surprise – this advice is consistent with all social media initiatives as well as marketing in general. Here are all the details: