Financial services firms are now using social media to get customers involved in online discussion forums, advertise services and monitor what's being said about their businesses.
"Every bank is already involved in social media... whether that's part of a conscious strategy or not," said Susan Feinberg, a commercial banking analyst at TowerGroup, a market research firm focusing on the financial services industry. "Your clients today are using social media all the time for both personal and business purposes."
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Banks Go Social to Collaborate, Reach Customers
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