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Implement a social media policy so you compete with the likes of Beep bank!

by , 15 March 2013
Every business has a social media presence these days - even the Catholic Church! Pope Benedict was just getting into Twitter when he stepped down, says Memeburn. Now, even the cautious banking industry is getting involved. Most companies are worried that they'll have to give an instant response to queries online - there's a simple way to approach this problem...

Locally, there are Twitter accounts for most of the big banks - even 'Beep bank' has a strong following.
And the pace of social media usage by the US financial industry has begun to rapidly accelerate, says Reuters.
This is great news for consumers, as they can expect almost instant responses when they make a comment in the social media space.
That's why more and more companies are now getting employees to run social media accounts on the company's behalf, says FSP Business.
This has revolutionised the time it takes to get a response from corporates… and this is what companies are concerned about.
The most important reason to put a social media policy in place…
We expect a response to emails within 24 hours, but the social media response time is much shorter – if you take more than two hours to reply, you'll face a stream of complaints as the customer gets all and sundry on board to fight his case online!
That's why it's so important to have a clear social media policy in place, so you employees have a good understanding of what's expected of them when they venture into the social media space.
The best way to reply to a customer query over social media
If you receive a query or complaint over a social media channel like your company's Facebook page or Twitter account, you should reply immediately, even if you don't have an answer.
Thank you customer for contacting you and mention that you'd like to take the discussion offline – this buys you a bit of time.
Ask for their email address or phone number, then make sure to contact them within two hours with a response, once you've had time to look into the problem or research the answer.
Simple as that.

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