|By PR Newswire||
|February 10, 2014 07:32 AM EST||
NEW YORK, Feb. 10, 2014 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
The report provides in-depth market analysis, information and insights on social media marketing in retail banking industry:
• It provides a global snapshot of trends in the use of social media as a marketing tool by retail banks across the world.
• It details leading social media sites across key emerging and developed markets, and strategies adopted by retail banks to engage customers on these sites.
• It analyzes social media marketing issues and challenges for retail banks.
• It analyzes industry best practices to streamline operations and improve business opportunities.
• It provides detailed case studies to illustrate best practices in action.
SummarySocial media presents a valuable opportunity for retail banks. As internet access and smartphone adoption increase, a growing number of internet users are becoming involved with social networking. Companies are changing their business models and product offerings to be able to cater to the ballooning market of social media users. Banks and other financial institutions are engaging customers with social media, which is shaping up as a strong channel to promote new schemes, identify customer needs and receive feedback. Although the use of social media remains risky territory for many banks, some have started to explore opportunities in this channel and have set out many best practices examples that can act as guiding principles for other banks and financial institutions.
A primary question plaguing the banking industry on the use of social media concerns return on investment (ROI). There are doubts over the credibility of social media as a key component of business models due to a lack of tools to measure quantifiable results. The potential benefits are more of qualitative in nature. Despite initial skepticism by retail banks, social media is expected to emerge as a complimentary channel, rather than replacing existing channels such as television and newspapers. Financial services companies use various channels to market products and services, and consumer opinion is now measured as an aggregation of experiences across these channels. Over the next five years, banks are expected to focus more on synergies that can be generated by social media and other key channels, rather than calculating ROI in the social landscape.
Scope• This report provides a comprehensive analysis of social media marketing strategies adopted by the retail banks across key emerging and developed markets.
• It covers key trends and provides analysis of various stages in the use of social media by retail banks, with each stage's potential to influence customers.
• It details various operational, technological and regulatory issues and challenges faced by retail banks while adopting social media marketing strategies.
• It covers industry best practices and an effective framework for the adoption of social media as a marketing tool.
• It provides case studies on social media marketing strategies implemented by various retail banks.
Reasons To Buy• Understand the dynamics of the social media landscape across key markets worldwide.
• Assess the current and future opportunities of social media marketing in retail banking industry.
• Gain insights into the social media marketing strategies adopted by retail banks in key developed and emerging markets.
• Gain insights into key issues and challenges to devise strategies and gain a marketing advantage.
• Understand the implementation of industry best practices through detailed case studies.
Key Highlights• Social media marketing has gained increased focus, and retail banks are changing their business models and product offerings to cater to the ballooning market of social media users. Social media interactions provide companies with a platform to reach out to customers and deal with issues in real time, increasing both the quality of their service and levels of consumer trust.
• The increasing prevalence of the internet and widespread adoption of smartphones have fuelled social media expansion, with more than half the internet population now engaged in social networking. While Facebook, Twitter and LinkedIn have established themselves across the world, local social networks such as Vkontakte and Sina Weibo are more widely used in Russia and China.
• Although the use of social media remains risky territory for many banks, some have started to explore opportunities in this channel and have set out many best-practice examples that can act as guiding principles for other banks and financial institutions. There is increased focus on the use of analytical tools, capitalizing on expertise of third-party professionals, and use of social platforms to engage customers in real time to improve brand image.
• Retail banks are yet to fully exploit the benefits pertaining to their presence on social networks. A number of banks have still not made significant progress in social marketing, and others have also kept their investment to a low level due to limited awareness, concern for data security, as well as the legal and reputational risks associated with the media. However, despite initial skepticism by retail banks, social media is expected to emerge as a key complimentary channel for business development and banks are expected to focus more on synergies that can be generated by social media and other key channels over the next five years.
Table of Contents
1 Executive Summary
2 Global Snapshot of Retail Banking in Social Media
2.1 Stages of Retail Banking in Social Media
2.2 Trends of Retail Banking through Social Media
2.2.1 Value perceptions across key segments
2.2.2 Key trends
3 Regional Analysis of Social Media in Retail Banking
3.1 Emerging Economies
3.2 Developed Economies
3.2.1 The US
3.2.2 The UK
4 Issues and Challenges
4.1 Operational Challenges
4.2 Technological Challenges
4.3 Regulatory Challenges
5 Best Practice and Case Examples
5.1 Best Practices
5.1.1 Framework for effective adoption of social media
5.1.2 Operations best practice
5.1.3 Best practices in marketing and promotional campaigns
5.2 Case Studies
5.2.1 Citibank India using social media to increase online card use
5.2.2 Guaranty Trust Bank takes banking on Facebook
5.2.3 BBVA uses social media to improve customer loyalty
5.2.4 ING Direct's application of Twitter as a risk management tool
5.2.5 ICICI Bank improving customer convenience by capitalizing on popularity of Facebook
6.2 Contact Timetric
6.3 About Timetric
6.4 Timetric's Services
List of TablesTable 1: Impact of Social Media on Banks' Business Structures
Table 2: Social Media Across Retail Banking Functions
Table 3: Global Markets by Unique Video Viewers, December 2012
Table 4: Social Media Marketing in Brazil
Table 5: Presence of Retail Banks on Social Networking Sites in Brazil
Table 6: Key Banks in Brazil and their Popularity on Key Social Networks
Table 7: Social Media Marketing in Russia
Table 8: Presence of Retail Banks on Social Networking Sites in Russia
Table 9: Key Banks in Russia and their Popularity on Key Social Networks
Table 10: Social Media Marketing in India
Table 11: Presence of Retail Banks on Social Networking Sites in India
Table 12: Key Banks in India and their Popularity on Key Social Networks
Table 13: Social Media Marketing in China
Table 14: Social Media Marketing in the US
Table 15: Key Banks in the US and their Presence on Social Media Sites
Table 16: Key Banks in the US and their Popularity on Key Social Networks
Table 17: Social Media Marketing in the UK
Table 18: Key Banks in the UK and their Presence on Social Media Sites
Table 19: Key Banks in the UK and their Popularity on Key Social Networks, July 2013
Table 20: Market Environment for Social Media Marketing in Germany
Table 21: Key Banks in Germany and their Presence on Social Media Sites
Table 22: Key Banks in Germany and their Popularity on Key Social Networks
Table 23: Social Media Marketing in Australia
Table 24: Key Banks in Australia and their Presence on Social Media Sites
Table 25: Key Banks in Australia and their Popularity on Key Social Networks
List of FiguresFigure 1: Levels of Social Media Use and their Impact on Customer Acquisition
Figure 2: ROI Measurability Across Different Functions
Figure 3: Social Networking Sites in Brazil by Total Unique Visitors, Dec 2012 vs. Dec 2011
Figure 4: Snapshot of Social Media in Russia, July 2013
Figure 5: Social Networking Unique Visitors (Millions), 2012–2017
Figure 6: Leading Social Networking Sites in India, June 2012
Figure 7: Estimated Number of Active Social Networking Users (Millions), January 2013
Figure 8: Leading Social Networking Sites in the US, 2012
Figure 9: Social Networking Sites in the UK – Unique Visitors (% of Internet Users), 2011 Vs 2010
Figure 10: Leading Social Networking Sites in Germany, December 2012
Figure 11: Leading Social Networking Sites in Australia, September 2013
Figure 12: Impact of Investment in Social Media
Figure 13: Framework for Effective Adoption of Social Media in Banking
Figure 14: Indian Credit Cards – Category Shares by Bank (%), 2012
To order this report: 2020 Foresight: Retail Banking and Social Media – Do the Ends Justify the Expense? http://www.reportlinker.com/p02000135/2020-Foresight-Retail-Banking-and-Social-Media-–-Do-the-Ends-Justify-the-Expense.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=e-Commerce
Contact Clare: [email protected]
Intl: +1 339-368-6001
Silver Spring Networks, Inc. (NYSE: SSNI) extended its Internet of Things technology platform with performance enhancements to Gen5 – its fifth generation critical infrastructure networking platform. Already delivering nearly 23 million devices on five continents as one of the leading networking providers in the market, Silver Spring announced it is doubling the maximum speed of its Gen5 network to up to 2.4 Mbps, increasing computational performance by 10x, supporting simultaneous mesh communic...
Feb. 13, 2016 05:00 AM EST
Eighty percent of a data scientist’s time is spent gathering and cleaning up data, and 80% of all data is unstructured and almost never analyzed. Cognitive computing, in combination with Big Data, is changing the equation by creating data reservoirs and using natural language processing to enable analysis of unstructured data sources. This is impacting every aspect of the analytics profession from how data is mined (and by whom) to how it is delivered. This is not some futuristic vision: it's ha...
Feb. 13, 2016 04:45 AM EST Reads: 465
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...
Feb. 13, 2016 03:45 AM EST Reads: 244
One of the bewildering things about DevOps is integrating the massive toolchain including the dozens of new tools that seem to crop up every year. Part of DevOps is Continuous Delivery and having a complex toolchain can add additional integration and setup to your developer environment. In his session at @DevOpsSummit at 18th Cloud Expo, Miko Matsumura, Chief Marketing Officer of Gradle Inc., will discuss which tools to use in a developer stack, how to provision the toolchain to minimize onboa...
Feb. 12, 2016 09:00 PM EST Reads: 136
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
Feb. 12, 2016 06:00 PM EST
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
Feb. 12, 2016 04:15 PM EST Reads: 433
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.
Feb. 12, 2016 03:00 PM EST
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
Feb. 12, 2016 02:15 PM EST
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
Feb. 12, 2016 02:15 PM EST Reads: 458
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
Feb. 12, 2016 01:00 PM EST Reads: 239
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies adopt disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevO...
Feb. 12, 2016 12:30 PM EST Reads: 270
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Avere delivers a more modern architectural approach to storage that doesn’t require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbuilding of data centers ...
Feb. 12, 2016 12:30 PM EST Reads: 125
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
Feb. 12, 2016 11:45 AM EST Reads: 461
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
Feb. 12, 2016 11:15 AM EST Reads: 148
SYS-CON Events announced today that iDevices®, the preeminent brand in the connected home industry, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. iDevices, the preeminent brand in the connected home industry, has a growing line of HomeKit-enabled products available at the largest retailers worldwide. Through the “Designed with iDevices” co-development program and its custom-built IoT Cloud Infrastruc...
Feb. 12, 2016 10:00 AM EST Reads: 138
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
Feb. 12, 2016 09:30 AM EST Reads: 226
WebSocket is effectively a persistent and fat pipe that is compatible with a standard web infrastructure; a "TCP for the Web." If you think of WebSocket in this light, there are other more hugely interesting applications of WebSocket than just simply sending data to a browser. In his session at 18th Cloud Expo, Frank Greco, Director of Technology for Kaazing Corporation, will compare other modern web connectivity methods such as HTTP/2, HTTP Streaming, Server-Sent Events and new W3C event APIs ...
Feb. 12, 2016 09:00 AM EST
The Quantified Economy represents the total global addressable market (TAM) for IoT that, according to a recent IDC report, will grow to an unprecedented $1.3 trillion by 2019. With this the third wave of the Internet-global proliferation of connected devices, appliances and sensors is poised to take off in 2016. In his session at @ThingsExpo, David McLauchlan, CEO and co-founder of Buddy Platform, will discuss how the ability to access and analyze the massive volume of streaming data from mil...
Feb. 12, 2016 09:00 AM EST
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
Feb. 12, 2016 06:00 AM EST Reads: 262
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
Feb. 12, 2016 12:45 AM EST Reads: 418