Historically, the banking industry has always sought to maintain customer-focused relationships, but today’s customers are very different from those of even a decade ago. Customers’ expectations, and their relationships with banks, have been changing rapidly since the onset of social media. As more people use social media platforms such as Facebook and Twitter, bank customers are increasingly expecting services via these platforms. This paper looks at how social media can help banks enhance customer engagement and provide them with new opportunities for growth.
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