Social Media in retail financial services
Informed Choice chief executive Nick Bamford is on his way to London this morning to speak at the Bakehouse Communications Social Media Briefing Lunch.
Attendees will hear from Nick how we successfully use Social Media as part of our marketing mix at Informed Choice.
This is a pertinent time to be doing this in light of the fact that a recent Money Marketing article announced that Opinion Research’s Independent Voice Survey claimed that “two thirds of intermediaries think social networking sites are an inappropriate way to communicate with clients”.
Bamford said, “This is an astonishing conclusion for intermediaries to reach. Social Media is rapidly becoming a dominant way in which consumers communicate both positive and negative buying experiences. It is a superb way to leverage more conventional marketing messages. It provides an inexpensive way for the intermediary to reach a substantial audience and explain what they do and what they stand for.
The Optimum Research survey reveals that some IFA firms have banned the use of social networking with 32% of firms believing the offering of advice on such sites is risky.
I wonder if there is a particularly high level of understanding about this subject?
It doesn’t have to be about the provision of advice, quite the opposite in fact. Social Media can be used to distribute really good information and encourage consumers to seek professional advice from IFAs”.
Informed Choice has produced a short “cartoon strip” showing how the firm uses Social Media to raise their profile and establish credibility in the wider business community.