Case Study: How Social Apps Innovate CRM in Banking and Financial Services

Herbert Wagger  20 May 2012 18:40:19
 
Last week I shared this interesting article from oursocialtimes:
Image:Case Study: How Social Apps Innovate CRM in Banking and Financial Services

A recent report entitled Social CRM in German Retail Banks made the case for banks adopting social communications, saying: “banks that have an effective social-media strategy have a huge advantage in being able to develop a closer relationship with their customers”. They went on to map the performance of retail banks in Germany according to their social media engagement with customers (above).

Yet the same report went on to say ““The social-media platforms have also provided banks with a new channel of communication and a CRM tool that is being effectively used by only a few banks. While some industries, such as the lifestyle industry, telecommunications or the automotive industry, have realised the importance of social media, most banks are still struggling to get their social-media strategy right.”

In the emerging world of social CRM (sCRM) banks are faced with a raft of issues that go way beyond the technical, financial, logistical and cultural challenges of implementing “social business”. There are laws – both international and national – the prevent them from matching up customer data with social media records. There are industry regulations that prevent them from revealing that customers are in fact customers, or giving financial advice via a public medium. And, of course, there are the T&Cs of the social networks themselves, which restrict how (and where) businesses can communicate with their customers. They also need to contend with the rules of fairness, openness and courtesy that we all expect from them.

I will be in Frankfurt on 11th June at the Social CRM 2012 conference, presenting an interesting case study together with Sparda International Munich.


Case Study: How Social Apps Innovate CRM in Banking and Financial Services

Marcus Eurskens, Managing Director, Sparda International Munich & Herbert Wagger, Founder & Managing Director, INTRANET Software & Consulting


In this insightful case study, Marcus and Herbert explain how Sparda International implemented a suite of innovative social CRM tools to stimulate creativity, boost efficiency, enhance information-sharing and most notably, improve collaboration at the bank. In addition to helping with product management, service quality and sale/marketing, customers also experienced benefits.


Image:Case Study: How Social Apps Innovate CRM in Banking and Financial Services
Marcus Eurskens
Managing Director,
SPARDA International Ges.m.b.H.
Marcus Eurskens is a highly experienced banking professional. Since 2003 he has been the Managing Director for Germany and Austria of the financial services company SPARDA International, a joint venture of the Sparda banks Munich eG and Villach/Innsbruck Gen.mbH.

Image:Case Study: How Social Apps Innovate CRM in Banking and Financial Services
Herbert Wagger
Founder & Managing Director,
INTRANET Software & Consulting
Herbert is a technical architect and specialist in the banking and financial services sector. He has specific experience in and focus on retail banking, private banking, CRM and financial advisory. His client list includes Salzburg-München Bank and Berliner Bank, Bildungsakademie.

Please come to this event on Monday, June 11 (09:00 - 17:00) and see our case study from project "safebook" at Sparda International Munich.
More information...

Image:Case Study: How Social Apps Innovate CRM in Banking and Financial Services

Highlights:

Social CRM360, customer view, social profiles, segmentation, products, financial status, campaign management, sales planning/monitoring and controlling

safebook on iPad or iPhone”, mobile solutions.

“i-Apps” from an Enterprise AppStore with intelligent UI, interactive dashboards, social profiles, social enabler, etc.

i-Tweet”, Enterprise internal wall, internal microblogging, information push-technology, activity streams, etc.

XNames”, kind of internal Xing, communities, groups, follower, following

Produpedia”, a sales Wiki, product and sales knowledge base, commenting, rating, tagging, blogging, etc.
For further details watch out this Presentation: Project Safebook



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