Are UK Finance Brands Using Social Media Effectively?

Written by Karen Bryan

In my opinion, dealing effectively with criticism and/or complaints is an opportunity for companies to improve their product or service and gain customer loyalty by engaging with the customer. Too many companies either ignore the negativity or make the right noises, but don’t back this up with meanigful action leading to a satisfactory resolution for the customer.

Social media channels such as Facebook and Twitter mean that it’s easy for disgrunted customers to publicly air their beefs.

I didn’t agree with claims of no tiers and thresholds made by the new Barcalycard cashback card.  I wrote an article explaining why I thought that Barclaycard’s marketing blurb was silly and inaccurate. I tweeted Barlcaycard a link to my article. They replied asking me to email them. They also phoned me but I said I’d prefer to have their response in writing.

A couple of days later they responded to my article in an email, which I copied into my article.

I think that Barclaycard didn’t address the points I made; they must be using a different dictionary to me for their definitions of tiers and thresholds. As far as I’m concerned, it’s a waste of time them being on Twitter because they are still hiding behind meaningless waffle.

I think it would’ve been better for Barclaycard not to have made the no tiers and thresholds claims about  their new cashback credit card in the first place. To then spend money on staffing Twitter and writing an unsatisfactory response is pointless. Yes, they did pick up on my tweet and formally responded to it quite fast, but just with more output from the ‘University of Spin’.

Have you experienced any instances of UK finance companies using social media well or badly?

One Response to “Are UK Finance Brands Using Social Media Effectively?”

  1. I’ve never seen or heard of a financial company use social media effectively at all. I don’t think the idea of transparency suits them whatsoever because they’re missing the point of it. Being able to Tweet somebody (for me anyway) is about having direct access to a person or some part of an organisation usually nestled behind a spiel-spewing gatekeeper or customer rep with a script.

    They would be better off not being on Twitter at all if they’re only going to misuse it and further annoy customers. All this marketing fluff we’ve tolerated for decades no longer works in 2013. The end consumer is intelligent and empowered enough to see through it.

    Better still, they write about in the capacity of self styled journalists.. i.e. You and I.