How “social” is your bank?

The banking industry is missing out on a huge opportunity to transform itself from a transactional model to an engagement model, writes social media strategist Jay Deragon on AlwaysOn.

“Think about what lies within the system of banking: people and businesses. Now, do banks do anything to “connect” people and businesses to facilitate transactions amongst and between people and businesses? When was the last time your bank actually helped you do the following:

1. Solve a problem not having to do with a transaction
2. Introduced you or your business to others who may need your product or service
3. Provided you with new information or knowledge that helped you or your business be more productive
4. Helped you or your business grow revenue, besides lending money for you to do it yourself
5. Helped you find relevant and relative resources that you need

The answer to these questions is a bank simply doesn’t do any of these things, at least not consistently and as a regular part of their relations with customers.”

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