Fast Market Research recommends "Gauging the Effectiveness of Social Media in Financial Services" from Timetric, now available

Boston, MA -- (SBWire) -- 07/21/2012 --Social media and Web 2.0 are characterised by

- Access to direct contact with virtually anyone, person or institution, connected to the Internet
- Access to print/publication and wide potential dissemination
- Quick responses
- Permanency (all content published at any date and by any publisher can easily be found through simple research)

These factors have generated

- A new code of social interaction and communication
- By extension, because social media is becoming the predominant medium of interaction between people, new demands from customers

Key Highlights

- In retail fi ncial services, 24/7 information accessibility should be shifting the balance of power towards consumers and account holders, but disintermediation is not yet a major concern
- By 2015, 'mobile' will be the single largest interacted channel for retail banking
- Yet it is hard for fi ncial institutions to get people to interact with their brands. They need to shape discussions more around topics of interest to their customers
- Smaller specialist providers can thrive in this atmosphere as they can develop tailored products at a lower overhead cost

View Full Report Details and Table of Contents

Scope

- A best seller from 2011, this report has been updated to take account of the frenetic activity in social media into 2012
- It examines the future use of social media in fi ncial services, as well as prospective trends
- A wealth of data and case studies are provided
- This report examines in detail the difference between Web 2.0 and 1.0 which preceded it
- The elephant in the room is also discussed - can social media ever become profitable?

Reasons to Get this Report

- Be brought up to speed on the latest thinking, data and trends in this highly visible, specialist area of social media
- Social media is consumer led. Find out how consumers and fi ncial institutions are reacting to each other
- See what direction the interaction is heading with tablets and smart phones
- Find out what the key metrics should be

Companies Mentioned in this Report: Facebook, LinkedIn, Twitter, American Express, Jyske Bank, BBVA, Bank of America, Barclays, Citi

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