Banks Can’t Let ROI, Regulatory Congers Inhibit Social Customer Experience

July 4, 2012 - PRLog -- Rob Gardner, Co-Chief Executive & Founder of Redington,has encountered phenomenal success opportunities for financial businesses in social. During this exclusive interview, he discusses why customer management professionals in the industry need to seize them. These opportunities do not erase the need to account for privacy and regulatory concerns, but should assure financial professionals do not turn their eyes completely blind to social. When one adds in the fact that positive proof on social’s ability to generate financial ROI remains elusive, it is no surprise why some financial firms are hesitating to pull the trigger on comprehensive social customer experience strategies.

Customer Management IQ: This is the Customer Management IQ Customer Creation Podcast Series. As always, I'm Brian Canter, Managing Director of CMIQ, and your host for today's discussion. When it comes to discussing the customer experience it has become nearly impossible to avoid discourse about the value of social media. And that brings good news and some bad news for professionals in the field. On the one hand it invites a lot of tedious, superfluous conversation about how amazing the online world can be. People go to events, they give presentations, showing off their funny tweets, their cool videos, and they think that's enough to really help audiences get why social's such an integral part of the customer experience.

But the good news is that focusing on social sheds light on the importance of interfacing with customers in all channels and in all touch points. It urges us to remain focused on leveraging the intricacies and advantages of these challenges to create better relationship with our customers. One sector in particular, the financial sector, has long dealt with the challenge of social media, but as banks and financial services organisations look to build customer delight they too have no choice but to turn to social as a key avenue.

And this topic will be one of many great ones at the upcoming Customer Experience Management in Banking and Financial Services event, taking place in London this September 18th through 20th. And one of our speakers is Rob Gardner, the Co-Chief Executive and founder at Redington, and he's joining us today. Rob, how are you?

R Gardner: Yes, very well, thanks, Brian.

Customer Management IQ: Great. So I want to jump right into it, because I think there's always been this big dilemma in the financial industry and social media. Like any customer-facing business, people in finance know how important social can be, but this particular industry focuses a lot on regulatory and privacy concerns and that strikes a lot of fear or creates a need for a balance between what you can disclose, what you can do and what you can't do on social. So really, how do you address that balance and is there a room for financial firms to still maximise engagement on social media?

To access this interview transcript in full, together with the mp3 podcast version, please visit: http://www.customerexperiencefinance.com/

Customer Experience Management for Banking & Financial Services will take place 18 - 20 September, 2012, in London, UK – For more information please visit: http://www.customerexperiencefinance.com/,  call 0800 652 2363 or +44 (0) 20 7368 9300, or email enquire@iqpc.co.uk.