Case Study Analysis - Banking on Social Media

Added on - 28 May 2020

  • 7

    pages

  • 1593

    words

  • 0

    views

  • 0

    downloads

Showing pages 1 to 3 of 7 pages
Running head: CASE STUDY ANALYSIS: BANKING ON SOCIAL MEDIACase Study Analysis: Banking on Social MediaName of the student:Name of the university:Author note:
1CASE STUDY ANALYSIS: BANKING ON SOCIAL MEDIATable of ContentsAnswer to Q1:..................................................................................................................................2Use of digital and social media in First National Bank (FNB):..................................................2Answer to Q2:..................................................................................................................................3Benefits to FNB from social media strategy:..............................................................................3Answer to Q3:..................................................................................................................................3Lessons to FNB:..........................................................................................................................4Answer to Q4:..................................................................................................................................4Important points to consider on social media platforms:.............................................................4References:......................................................................................................................................6
2CASE STUDY ANALYSIS: BANKING ON SOCIAL MEDIAAnswer to Q1:Use of digital and social media in First National Bank (FNB):The revolution was brought after when Michael Jordaan took the charge as CEO of thebank. An innovative approach to working with the CEO and a skillful work of Lana Strydom hascollectively enhanced the competency of FNB on social media platforms. Mr. Jordaan, the CEOof the FNB has a very different approach to work. The CEO actually admires people who areinnovative. The journey had started when the CEO had announced that the FNB acts seriously toinnovate with things and please the audience. The CEO himself is a very active person on thesocial media sites, in particular, the twitter. The CEO personally responded to customer'scomplaints on Twitter. The journey got accelerated when the survey was done to check theeffectiveness of the CEO's presence over twitter. Results were surprising as approximately 78percent of the respondents had affirmed that the participation of CEO on social sites helps toestablish an effective communication. Moreover, it is necessary to maintain a brand image(Tsimonis and Dimitriadis 2014).The journey to social media platforms had been further accelerated when they announcedto reward employee if they provide trendsetter ideas. Employees had been encouraged.Consequently, different ideas had started to pour into the company (Hiltz, Kushma and Plotnick2014). Jordaan initially tried to attract customers to have some transaction on the Facebook.They launched educational series on YouTube. They had also created their own app dotFNB.The app was first of its kind in South Africa. They with this had touched the core choice ofcustomers (Hiltz, Kushma and Plotnick 2014). Importantly, they landed on the social mediaplatforms at a time when the use of social media platforms had become popular in the country.
desklib-logo
You’re reading a preview
card-image

To View Complete Document

Become a Desklib Library Member.
Subscribe to our plans

Unlock This Document