Use social to uncover real-time voice of customer data

[shaownhasan]

Take Del Preto’s social listening ritual. “My head of investor relations has social listening queries running at all times that are tracking what our competitors are doing. Did they launch a new product? How does our sentiment compare to theirs? We make sure we stay ahead of anything that could bubble up to cause major problems, or present new opportunities,” he says.

For financial service brands, social listening queries can surface everything from stock market trends to negative discourse surrounding their company or products. Del Preto explains, “I know dozens of indonesia mobile database
financial services firms using listening…They use it for risk mitigation, competitive analysis, trend spotting and staying up to date on industry news.”

Phillips explains why all of this data exists on social: “When someone is looking for a [financial solution], they go on social media and see what their friends recommend. Then, they look up your profile to get a first impression of your brand…Social is where your community is talking about solutions to their financial problems.”

This is especially true for Gen Z consumers. According to Accenture, 82% of consumers aged 18-24 acquired a financial services product from a new provider in the past 12 months, proving that younger demographics are a growing market whose loyalty is up for grabs. Social is critical for reaching this audience and discovering more about their needs, especially for traditional and legacy brands fighting for market share against digital-only challenger banks.