Williamstown, MA -- (SBWIRE) -- 02/09/2012 -- Social media channels are changing the way in which consumers gather information, research products, and make purchasing decisions. The reach of social media and its power to engage consumers makes marketing through this channel highly effective. The reluctance of FS providers to use social media is often attributed to issues of ROI and regulation but these are hurdles which can be addressed.
- Boost consumer engagement and increase the impact of marketing by learning how best to use social media for marketing new products and services.
- Build brand equity by understanding how social media can raise brand awareness and the perceived quality of a brand.
- Address the issue of return on investment through analysis of this measurement and its application to social media.
- Use social media effectively while adhering to regulation with best practice guidelines for FS providers.
View Full Report Details and Table of Contents
Globally, there is considerable demand from consumers for the marketing of suitable products through social media. Almost 40% of consumers state that they would be interested in the ability to receive information about suitable products through this channel.
The overexposure of consumers to marketing messages makes it impossible to pay attention to all of these. Inbound marketing, which encourages consumers to find out about a company or product themselves, engages consumers because it has consumer consent. Social media in turn amplifies the impact of inbound marketing.
Two of the main objections to social media within the FS industry are related to ROI and regulation. However, these hurdles can be overcome by looking at ways in which to alter the definition of ROI within a social media context and by following best practice guidelines on the regulation of this type of marketing.
Reasons to Get this Report
- How can social media be used to increase the impact of marketing new products and services?
- How can FS providers overcome regulatory issues in order to use social media channels for marketing?
- What is the return on investment of social media for FS providers?
- How can social media channels be used to build brand equity?
- What is the consumer demand for the use of social media in FS?
Companies Mentioned in this Report: ASB Bank Limited, AXA, CMS Energy Corporation, Devoteam SA, General Mills, Inc., Hutchison 3G UK Limited, National Australia Bank Group Limited
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Financial Services research reports at Fast Market Research
You may also be interested in these related reports:
- Social Media in Financial Services 2010
- 10 Consumer Trends for Financial Services Providers in 2010 and Beyond
- The Connectivity Consumer Trend in Financial Services: The New Community
- Saffron Building Society Case Study: Building an effective social media community
- The Global Economic Crisis: The Impact On Consumer Attitudes Towards Financial Services in Singapore and Australia
- Selling financial services to under 35s
- Consumer Attitudes to Borrowing Online
- Recessionary Consumers & Product Choice: Implications for 2009
- Targeting the Underbanked in Financial Services
- National Australia Bank Case Study: Achieving quantifiable returns with social media