Big banks struggle with Twitter
As banks confronted the social media revolution, one of the first areas where the concept took hold was customer service. Banks set up methods by which customer service reps could address issues via Twitter.
So how has the experiment fared?
A new report by Javelin Strategy & Research found that “overall, the banks did not do a great job of resolving complaints via Twitter during the study period. Citigroup appeared to do the best, resolving 36 percent of its Twitter-based complaints; Wells Fargo, 11 percent; and Bank of America, 3 percent. The New York Times noted that that complaints may have ultimately been addressed elsewhere, outside of Twitter.
JPMorgan Chase was not evaluated as it is apparently not actively using the Twitter feed it has previously set up. Issues of privacy are paramount in this area. The report advises that “bank representatives must educate customers that they will need to switch to a private, direct message, or perhaps to another mode of communication, like phoning a call center, if account information or other details are needed to address the issue — or, if the problem requires more than Twitter’s 140-character limit.”
All in all, my sense is that Twitter-based customer service movement is not going away anytime soon.
- here’s the article