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Discuss: Customers Who Distrust Their Banks | The Big Picture

Discuss: Customers Who Distrust Their Banks | The Big Picture | Polarscoops Integrated Marketing Communications | Scoop.it
    Click to enlarge Source: The Financial Brand     Amongst all of the Big Bank brands, there is a commensurate degree
Charles Farrelly-Gruar's insight:

This table shows how little customers trust their banks. Shockingly, none of these top banks have customer trust above %40. Is this inherent in the banking industry, unavoidable, and something that banks must live with? Or is there something banks can do to stem the tide on how customers view them and their brands? 

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Nicholas Brooke West's comment, March 18, 2013 10:14 PM
I feel that banks will always have a bad association with trust to them ever since the 2008 collapse of the economy across the globe. This is only 5 years removed from this financial and people are still skeptical about having their money in the banks although they have to. In order to combat these bad trust associations fro their brands these banks can take upon a marketing approach to show how transparent they are to their customers in order to garner trust and positive brand equity/ loyalty. Most important factor is the time factor i feel as banks are still viewed as the reason for the collapse.
Jina Um's comment, March 20, 2013 8:20 AM
This result is quite shocked. Customers did not trust these big banks over than 60%. However, I am not using one of these banks. Because of these banks are not familiar for me and they did not have suitable service for me. But I know these banks are still big bank and many customers use these banks domestically and internationally. Brand and brand image are very important in the market. However, recently, these banks are mostly having problems in economically and financially. For example, the bank of America was bankruptcy and government help to get debt. After this, brand, brand image and their value are dramatically decreased. Also, customer trust decreased with mouth to mouth. In my opinion, banks still have chance to recover their brands. The most important thing, they must communicate with the market.
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Why Brands Must Embrace Visual Social Media in 2013.

Why Brands Must Embrace Visual Social Media in 2013. | Polarscoops Integrated Marketing Communications | Scoop.it
We strive to improve our clients lives with our time saving services (by Busy Lizzie)
Charles Farrelly-Gruar's insight:

This article depicts customer engagement through social media sites, mainly how effective social media sites are in regards to engaging customers. Interestingly, the Article also uses percentages to portray how little companies are actually using social media effectively. Does this mean most businesses are not reaching their full marketing potential? And if so, should all businesses launch social network media campaigns immediately? 

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Nicholas Brooke West's comment, March 18, 2013 10:57 PM
Very interesting article Charles! I do believe that this phenomena of social media is the only way of successfully marketing in this new technology age is very important for comapnies to take notice of as there are too big of a social media population to avoid for example there is 950 million people on facebook and over 300 million on twitter. For companies not to capitilise on this potential market is stupid however this is not the only and most important way for new companies to garnish loyalty and brand support and if the market is populated with too many ads from companies then consumers will have distaste for that form of media.
Jina Um's comment, March 20, 2013 8:20 AM
I think social media is very important to marketing communication and succession the business. Nowadays, social media is very activity such as face book, twitter and blog to get many people. Social media is quick spread the information and many people join with them. This is why many companies launch the social network media. Social network is very effectiveness of advertising. So, most businesses launch social network media campaigns immediately and consumers use for their communication.
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Biggest Moments in Social Media Marketing

Biggest Moments in Social Media Marketing | Polarscoops Integrated Marketing Communications | Scoop.it
2012's wins and fails.
Charles Farrelly-Gruar's insight:

This article highlights marketing wins and failures, including an interesting marketing strategy from Nike, where adjusting their marketing campaign to focus on every day atheletes through Social Media, they were able to boost their consumer engagement, and positive Main competitor, Adidas, who were, at the time, sponsoring the Olympic Games. 

 

 The article, however, shows us an example of how social media can backfire and hurt a company's image, where Celeb Boutique miss interpreted a trending tweet on their twitter account, taking it as being about Kim Kardashian, when really it was about a High School Shooting. Companies should exercise caution and diligence when trying to keep up with the times on Social Media.


Should all Companies use Social Networking? Or should only those who find it would boost there overall Brand Equity? 

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Nicholas Brooke West's comment, March 18, 2013 11:04 PM
Wowee way to go with this one big Charles! great stuff! really enjoyed this article! I do believe companies should keep a monitor on what is fashionable and trending within social media and different demographics. This would help the company establish its marketing towards these trends and demographics however brands that are distinguished should not over expose the consumer to the brands as it could back fire as consumers become irritated and annoyed at constantly seeing brand advertisements they see in every facet of their lives. Brands should tread carefully about social media and choose their campaigns wisely and be tailored to suit the population they are aiming to attract in order to not lose any brand identity/ equity associations.
Jina Um's comment, March 20, 2013 8:48 AM
I think brand equity is very important. It relates to brand image. If brand image is bad, brand equity is bad too. Otherwise also same happen. It is importance to business and consumers to selling and buying. Most company makes their own brand image and brand equity by social network media such as blog, face book and twitter. Social network is very effectiveness of advertising in nowadays. Also good communicate between consumers and companies. Company can make good brand image using social media to make good brand equity.