Firing off a tweet about a crappy customer service experience at your favourite department store might be the quickest way to get the company’s attention, but don’t expect a speedy response from your bank.
In fact, according to a recently released survey, don’t expect any response at all.
The study, called “Social Media: Catching Up with the Banks,” was conducted by public relations firm MHP Communications and surveyed communications representatives at a few dozen global banks on their use of social media in customer service.
Overall, they found banks are way behind the curve when it comes to using Twitter and Facebook as a means of gauging customer sentiment and responding to complaints.
Among those surveyed, only a little more than half said they used social media both privately and at work and a meager 3 per cent said they use it only on the job.
“Print publications and traditional outlets such as newswires are still seen by banks as the most valuable and important way of communicating with clients, investors and other stakeholders,” the study says.
Those statistics are a bit troubling, especially given the impact of social media-driven movements such as National Bank Transfer Day, which spurred thousands of Americans to ditch their megabanks last month in favour of local branches and credit unions.
But commercial banks are at least ahead of the game when compared to the investment banking sector.
In the investment banking world, social media “has even become a platform to be feared and avoided,” the study says. In all, only a quarter of respondents said they use social media to communicate with consumers at all.
That means you’re probably better off sending in customer service complaints the old fashioned way—on the web or via phone.
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