Social Media Becomes Place of Praise and Criticism for Banks during Crisis

Banks are dealing with a myriad of issues trying to service customers during the pandemic with less staff and less branches; social media adds another venue for customers to vent frustrations or heap praise; response times are not much faster on social than email or phone, even with the public pressure online; “The typical strategy is to say, ‘We would love to help, please direct message us and we will ask for more details,’” Steven Ramirez, CEO of Beyond Arc, said to American Banker. “What I have seen is people say ‘Hey, I DM’ed you two days ago and I still haven’t received any response.’”; banks are trying to beef up their social teams to handle the increased number of messages; “The banks that we’re seeing have the most success recognize that banking is a very personal business where customers are looking for a trusted advisor,” Doug Wilber, CEO of Gemini Social, said to American Banker. “The degree to which they can humanize their brands and empower their employees to be sharing content is really important right now.” American Banker

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