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Financial Institution Blogs: How to Manage Your Brand, Engage Customers and Why You Can’t Afford to Wait
Javelin Strategy & Research, July 2007, Pages: 23
Weblogs (“blogs”) are quickly becoming an integral part of online communication, and banks need to respond by creating blogs on their primary or specific line of business Web sites to address consumer needs. Brand management, customer-centricity and proactive advocacy for customers’ immediate financial needs can be facilitated through a blog, at relatively little cost to the financial institution.
This Javelin report provides detailed consumer data regarding preferences for FI blog content, likelihood of usage, and the influence that information obtained through blogs has on the customer relationship. This data is supplemented by extensive interviews with executives who have implemented blogs successfully on their sites, and vendors providing un-structured data analysis services, enabling FIs to utilize blogs for more effective CRM.
Primary Questions
-Why do FIs need to create blogs on their Web sites now?
-What benefits to FIs and consumers do blogs foster?
-How can an FI use a blog to effectively promote its brand?
-What information would provide the most value to consumers through a blog?
-What are best practices for implementing an FI blog?
-How should FIs address the risks (e.g., privacy, time, negative comments) of blogging?
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