Register by Jan 13 to save on passes and connect with marketers from Uber, Bose and more
Banking institutions may not be many people’s picture of social media savvy, but they are perhaps surprisingly interested in Twitter.
Banks use Twitter more than Facebook, Instagram or LinkedIn — of 123,000 posts by financial brands, 79 percent were posted to Twitter compared to 12 percent on Facebook — and not just as a channel for customer complaints, as many other brands in service businesses do. Banks Goldman Sachs, Bank of America and Citi push podcasts, video interviews, company updates and sponsorships to customers.
There are a few reasons: It’s free, and according to Liz Elder, senior financial services associate at L2, shows people they’re not too old or behind the times to cater to the same customers that use services Facebook and Uber and shop online — sometimes on their mobile phones.
But for financial institutions, social media strategy is far from a need-to-have. Banks have enough brand equity that even without a winning Facebook strategy, they’ll still come out on top because how customers shop for a banking relationship just isn’t the same as how they approach the rest of their shopping; customers still consider things like proximity to a branch, access to human advice and — despite research showing that banks still struggle to reclaim customer trust lost after the 2008 financial crisis — the trust that comes with a name evoking strength, gravitas and rigidity like Goldman Sachs or JPMorgan Chase.
More in Marketing
Inside the brand and agency scramble for first-party data in the AI era
Brands are moving faster to own first-party data as AI and privacy changes alter the digital advertising landscape.
Walmart Connect takes a play out of the Amazon playbook to make agentic AI the next battleground in retail media
The next retail media war is between Walmart Connect’s Sparky and Amazon’s Rufus, driven by agentic AI and first-party data.
What does media spend look like for 2026? It could be worse — and it might be
Forecasts for 2026 media spend range from 6.6% on the lower end to over 10% but the primary beneficiaries will be commerce, social and search.