It’s no secret social media has made its way into millions of Americans’ everyday lives. These days, it’s basically essential that businesses have a social media presence—and for good reason. Your consumers—current and future—are actively using social media to engage with their favorite brands, make purchases, and seeking for social proof from their peers on products and services they are considering. According to Hootsuite, there are currently 4.2 billion active social media users, and that number is only expected to grow.
With the expected growth of social media users—and platforms—your institution has access to exponential opportunities to build a stronger brand, foster relationships, and increase product penetration. Here are four reasons why financial institutions should be using social media:
1. Increase Consumer Interactions
One of the factors that separates companies from one another is the level of customer service they provide to their consumers. According to Hubspot, “93% of customers are likely to make repeat purchases with companies who offer excellent customer service.”
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