Top Social and Digital Trends for Financial Services in 2013

January 8, 2013 § Leave a comment


Each year brings a time to look forward to new trends and areas of focus. As I continue to work at the intersection of customer experience and technology (mostly with financial institutions), the following is my hit list for 2013. I fully recognize this is not a comprehensive list and in no particular order, but I would love to hear what should be added, what I might be getting wrong, and whether anyone agrees or disagrees with the following:

  • Front-line Social Enablement: Over the last 2 years, I have paid a lot of attention to how front-line workers will use social media to engage with customers, prospects and referral sources, especially in wealth management and insurance. The last 2-years saw a crop of vendors such as Hearsay Social, Actiance, and Socialware bring products to market that help FIs manage these interactions and help front-line workers use social networks safely for marketing, customer service, and sales. With many major FIs picking vendors last year, this year we will see FIs try to scale front-line enablement across their sales and distribution workforces and integrate multiple vendor relationships into a cohesive ecosystem.
    • What to look for: A steady increase in how insurance agents and wealth managers incorporate social networking into their daily activities to connect with customer, prospects, and referral sources. For this to be effective, multiple vendors (compliance, CRM, social media monitoring, etc.) will need to come together, content will need some serious consideration, and analytics will be the glue.
    • The big questions: How will FIs support these front-line employees? To what degree are customers and prospects ready for FIs to network with them on social properties? Will we start to see some PR hiccups as more front-line employees get social? « Read the rest of this entry »
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