Financial Institutions Not Using Social Networks

"Despite the need to connect with consumers across multiple channels, financial services institutions still don't view social media as an effective direct marketing channel. Industry experts agree that the disastrous economic crisis has made it vital for financial services marketers to rally consumers with engaging and relevant communications across channels, and marketers in this space can no longer lazily send credit card offers and perks through direct mail to generate consumer interest," according to Direct Marketing News. "To be effective, marketers must manage their brands' reputations and find consumers across digital channels. In spite of the multichannel sentiment, none of the marketers with whom Direct Marketing News spoke found it necessary to send direct response offers to consumers on social media outlets like Facebook and Twitter." Read more.