Banking on Social Media (A)
(8 pages of text)
First National Bank (FNB), one of South Africa’s “Big Four” banks, has, under the stewardship of its CEO, invested in a strategy of innovation to grow its market presence in South Africa, other emerging-market African countries and India. In line with its strategy to lead digital banking in South Africa, FNB has invested in building a social media strategy to enable the brand to strengthen its relationships with customers, through building customer knowledge and stickiness and humanizing its brand.
In 2012, FNB’s head of digital marketing and media sees a tweet from Standard Bank stating that it has instructed its attorneys to lodge a complaint against what it alleges to be FNB’s misleading advertising. She wonders whether Standard Bank’s use of Twitter to communicate this competitive action is related to FNB’s extensive and well-publicized use of the micro-blogging service. She knows that the debate on Twitter will be a significant indicator of whether her social media strategy has been successful. How can FNB continue to differentiate itself and alleviate the pressure on non-interest revenues?
Banking on Social Media (B), 9B14A071
, is a supplement to this case.
This case is appropriate for an undergraduate course in marketing communications. It can also be used in graduate-level programs such as MBA or executive development programs.
- The role of social media in building brand and customer equity.
- The principles that support effective customer engagement through social media.
- The organizational support required to execute an effective social media strategy.
Finance and Insurance
South Africa, Large, 2012
$5.30 CAD / $5.00 USD Printed Copy
$4.50 CAD / $4.25 USD Permissions
$4.50 CAD / $4.25 USD Digital Download