Blog Entry 3b

How SMMF helps to interpret what is happening in the financial service industry?

In last blog , we talked about SMMF in the Kylie Jenner’s cases. But how about financial service industry? In my opinion, currently, financial service industry using social media as a communication tools between company and their customer. In this century, using social media is human need to make every activity easier.

For Scope variable, there are many financial service industries using the social media to share their content. Berger stated that 49 of 50 financial service starting to use social media as a marketing tools (Berger, 2017). Even though the financial service is quite slowest than any industry (Berger,2017), they are starting to embrace and taking consider to looking on the resource to boost the social media marketing.

In Culture dimension, financial service industries could use the social media function to communicate and do promotion of their product. Dopson said, using interactive content is more effective at educating a buyer. Although, we should learn about the changing of algorithm of social media that could pushing our content and brand (Dopson, 2018). For the good example, I took from Dopson article (Dopson,2018) about how to HSBC communicate and have engagement with their customer.

For the structure dimension, role of marketing director is a need to evaluate the marketing strategic and helping from the employee to become great customer service for online customer is an important task.

Last, in the governance dimension, financial service industry should understand in every service that they give to the customer, the review will be posted on the online. Dopson give advices to still encourage and respond to the customer review (Dopson, 2018). These are giving a link to leave a review in transaction confirmation emails, future incentives, and personally follow up the long-term customer to share their experience (Dopson, 2018).

References:

Berger, E.  (2017, December 12). Making Dollars and Sense of Social Media and the Financial Services Industry. Retrieved from:  https://sparkgrowth.com/making-dollars-sense-social-media-financial-services-industry/

Dopson,E. ( 2018, December 06). Social Media Marketing for Financial Services: How to Get More Paying Customers in 8 Easy Steps. Retrieved from: https://www.sendible.com/insights/social-media-marketing-for-financial-services

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