The immediacy and reach of Twitter means it has become a vital channel for customer service. According to Nielsen, nearly half of US consumers use social media to ask questions and Twitter’s own analysis shows that tweets to major brands have increased 2.5 times over the past two years. That makes over 4.5 million tweets every month sent to B2C companies.Consumers value...
The UK banking industry has often been criticised for complexity, high charges and poor choice for consumers. From misselling Payment Protection Insurance (PPI) to IT problems at RBS/NatWest there have been a steady stream of issues that have weakened consumer confidence in the banking sector.Many have pointed to a lack of choice and the perceived difficulty of switching accounts as being responsi...
As they operate in a highly regulated environment, many banks and financial services companies have been wary of becoming involved in social media. There has been a real fear that a throwaway tweet could be seen as endorsing a product when it isn’t the right fit for a particular customer, leading to potential misselling claims and action by regulators.However when handled properly the benefi...
Online privacy is a topic that is constantly in the news at the moment, with iPhone app makers Path and Hipster the latest companies offering apologies after it emerged that they uploaded address book information from phones to their servers without asking permission. Other brands, including Amazon-owned retailer Zappos and Sony have had to issue apologies after their sites have been hacked and cu...
Last week’s IT problems at HSBC demonstrate how quickly a customer service issue can develop in the age of social media. On Friday afternoon the bank suffered an IT outage on its mainframe which affected online banking, ATM and some customers using debit cards in stores. While the problems lasted just over 2 hours, Friday afternoons are amongst the busiest time for banks, with HSBC’s 1...