Social Media in the B2B Banking & Finance Landscape : Case: Nordic Investment Bank
Steinnes, Dan (2013)
Lataukset:
Steinnes, Dan
Metropolia Ammattikorkeakoulu
2013
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201303193438
https://urn.fi/URN:NBN:fi:amk-201303193438
Tiivistelmä
The early days of the Internet, Web 1.0, did not facilitate third-party content creation and sharing, as most pages were closed to external editing, making users only consumers of information. Corresponding with post-millennium technological developments and innova-tions, Web 2.0 and different social media platforms arose, opening up a new world of con-nectivity. Web 2.0, having acted as a playground for individuals for a decade, has now become increasingly more relevant for companies and businesses seeking to extend stakeholder reach and awareness.
As a part of a new communication model, social media differs greatly from traditional mar-keting and communication endeavours. This study highlights some of the new, affiliated opportunities for a small organisation: the main allure being cost efficiency while the difficulty to conceptualise return on investment (ROI) hinders management support. Nowadays, companies and consultants specialise in tailor-made social media entry strategies and campaigns, although they often come with a substantial price-tag. This study therefore looks at hands-on, cost-efficient tactics that can be implemented for the Nordic Investment Bank, as a small international financial institution.
The study recommends the implementation of different tactics for Twitter, LinkedIn and Storify as well as blogs to increase the awareness of everyday institutional activities. Additionally, the study postulates that Facebook as a platform is inapt when promoting commercial institutional activities. Emphasising the emergent nature of social media and its effect on planning and control, this study advocates adopting an editorial calendar as well as a monitoring tool to ensure that the social media campaign stays aligned with original goals. Lastly, areas for future study are suggested including how social media could affect online reporting processes, guidelines for how to address employee social media usage in banking and finance as well as how to establish an industry monetary social media ROI.
As a part of a new communication model, social media differs greatly from traditional mar-keting and communication endeavours. This study highlights some of the new, affiliated opportunities for a small organisation: the main allure being cost efficiency while the difficulty to conceptualise return on investment (ROI) hinders management support. Nowadays, companies and consultants specialise in tailor-made social media entry strategies and campaigns, although they often come with a substantial price-tag. This study therefore looks at hands-on, cost-efficient tactics that can be implemented for the Nordic Investment Bank, as a small international financial institution.
The study recommends the implementation of different tactics for Twitter, LinkedIn and Storify as well as blogs to increase the awareness of everyday institutional activities. Additionally, the study postulates that Facebook as a platform is inapt when promoting commercial institutional activities. Emphasising the emergent nature of social media and its effect on planning and control, this study advocates adopting an editorial calendar as well as a monitoring tool to ensure that the social media campaign stays aligned with original goals. Lastly, areas for future study are suggested including how social media could affect online reporting processes, guidelines for how to address employee social media usage in banking and finance as well as how to establish an industry monetary social media ROI.