Processing .....please wait.. 
The article has been forwarded.... 
5 Best Practices for Financial Institutions on Facebook
By siliconindia
|
Wednesday, 26 October 2011, 01:14 IST
5. Bank Of America:
Bank of America has a different strategy. The Facebook page of Building Opportunity from Bank of America is a Facebook Page dedicated to the institution's philanthropic arm. The Page serves as a forum to discuss community projects, stemming from prompts posted by the bank, such as "What kind of job training programs are in your area?" While many financial institutions are involved in charitable work, those projects are often not on the average customer's radar.
What is common among all of the above banks is that they are private banks. Why don't public banks run such innovative measures and attract more customers? Let alone creating a community, they hardly even have a Facebook page. In India, social media is big in only corporate sectors whereas when it comes to government and public sector companies, it is still nascent. As of now, public banks in India are yet to understand the marketing strategies of social media.
