Despite an increase in social media activity, comScore reports that only 18 percent of customers know that their financial institution has a presence online.
The company’s report on The State of Online and Mobile Banking found that 59 percent of customers had no idea that their banks were active on social networks.
Of those aware, the data revealed that visits to banks’ Facebook Pages have increased by almost 25 percent with 81.4 million visitors in Q1 of 2011. However, other social networks haven’t seen nearly as much growth.
Twitter profiles had 24.4 million visitors – up only from 20 million in 2010 – and LinkedIn only saw an increase from 15.7 million in 2010 to 20.2 million visitors in Q1 of 2011.
Although awareness is on the rise, only 16 percent of customers are interested in solving customer support issues. Of customers that follow financial institutions online, 38 percent are interested in retail offers, 35 percent are looking for credit card offers and online shopping offers, and 17 percent want online account servicing tips.
Banks and other financial institutions should continue building your brands on social networks. However, make sure that your customers know where to find you. And while popular platforms are important, it might be worth looking into smaller niche networks as well.
[Image credit: Mykl Roventine]